clester
Well-known member
I hear ya but playing that hindsight game is a sure loss. What are you looking at for an entry signal?
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clester's Account Talk
- Thread starter clester
- Start date
jkenjohnson
Active member
A 3% pullback and Sentiment Survey flips to a buy. I think that may be slightly below 50 sma.
clester
Well-known member
After looking at the charts this morning, I'm thinking a breakout of the current range (1699 is the high) to over 1700 may be a good place to put my 50% back in.
jkenjohnson
Active member
I'm not sure that will happen today.
jkenjohnson
Active member
Going in today?
clester
Well-known member
No. There's just too much fervor in the air. Plus we could get a close like yesterday.
jkenjohnson
Active member
Thanks
clester
Well-known member
This seems like 1st of the month 401k money going in. The retail investors.
jkenjohnson
Active member
There must be a lot of them with a lot of money.
clester
Well-known member
We did have a break out and those usually get tested before a rally continues. Thats about 1700 on S&P. My indicators are showing overbought but that can continue for a while. If I was using my system I would be 50% in stocks now. I missed the buy signal so the gains I would have had would be my cushion if we headed down. If I were to buy now I would use a stop at 1700. I'm thinking of doing that today. Let's see how the day goes. As far as sentiment, all the talking heads are bullish. You can't find a bear on TV. But our survey is on a buy.
rcknfrewld
Active member
"You can't find a bear on TV"...clester
all the talking heads are aligned together...that scares me...when I hear Dan Patrick and Mike & Mike mention the stock market...that frightens me...when this bull market hits Time magazine's cover look out below
all the talking heads are aligned together...that scares me...when I hear Dan Patrick and Mike & Mike mention the stock market...that frightens me...when this bull market hits Time magazine's cover look out below
jkenjohnson
Active member
Survey is on a "hold" for next week, not a "buy".
jkenjohnson
Active member
S&P bounced off 1701 this morning and is headed back up. Sounds like that meets your criteria for jumping in 50%.
coolhand
Well-known member
While this is true, sentiment in many pockets is not particularly bullish. It's not overly bearish either, but in spite of the rah-rah-rah from those talking heads a lot of money is staying on the sidelines. Our own Auto-tracker is under 40% invested across C, S, and I funds. I don't think that's what the big boys want. They want mom and pop to come out and play, but I suspect many feel like Charlie Brown running up to kick the football only to have Lucy pull it back at the last minute.
They're getting wise to that game.
jkenjohnson
Active member
So we just bounce around for a while.While this is true, sentiment in many pockets is not particularly bullish. It's not overly bearish either, but in spite of the rah-rah-rah from those talking heads a lot of money is staying on the sidelines. Our own Auto-tracker is under 40% invested across C, S, and I funds. I don't think that's what the big boys want. They want mom and pop to come out and play, but I suspect many feel like Charlie Brown running up to kick the football only to have Lucy pull it back at the last minute.
They're getting wise to that game.
coolhand
Well-known member
That's generally what I think will happen.
RealMoneyIssues
Well-known member
Um, we haven't been bouncing around to this point (look at any major index chart this year), what makes you think we will start now?
coolhand
Well-known member
How about bouncing around with an upward bias. That's a bit more accurate.
