clester's Account Talk

[nnuut]

Seems that folks are still trying to buy the dips which doesn't allow a good sell off. When will they quit or give up and sell?

That would be the place to buy. A long red candlestick.

I think we are getting close.

Timing that one may be a little tricky, I think I'll wait this one out.

 

[clester]

Timing that one may be a little tricky, I think I'll wait this one out.

Yes. I never try to time the bottom. I need to see a bounce starting. That falling knife is sharp.

 

[nnuut]

Yes. I never try to time the bottom. I need to see a bounce starting. That falling knife is sharp.

Exactly!
​

 

[Minnow]

Come on guys, at least I'm trying. I still got an arm, a foot and a good eye left, I think I've got the hang of it now. 6th time's a charm, right?

 

[nnuut]

Cool Minnow, now you've got the idea!

 

[clester]

Looks like the 200 SMA may get tested. Anyway, I would expect some support soon. RSI is under 30 on s&p which seldom happens. Agg RSI is about 70 which means it may be topping. Puts me in G fund for now.

 

[clester]

Looks like the 200 SMA may get tested. Anyway, I would expect some support soon. RSI is under 30 on s&p which seldom happens. Agg RSI is about 70 which means it may be topping. Puts me in G fund for now.

The last 2 years, the best plan would have been sell in May and buy again in September. Will the pattern repeat?


We have elections this year that may affect things. Probably for the worse with the budget battle coming.

 

[ATCHUNTman]

ThreeStories, I wish I would have followed you to the G Fund...gettin hammered!!

 

[clester]

ThreeStories, I wish I would have followed you to the G Fund...gettin hammered!!

Good to see you on the board. I'm playin it safe. Not making much in G, but not losing any. A 10% decline is considered a correction. From the high of 1420 recently that would put us at 1278. Guess where the 200 DMA is?

Anyway Jeff, it's hard to know what to do. It could be a bumpy summer.

 

[ATCHUNTman]

Yep, it's been ugly the last few weeks! Congrats to you for your timely move to the G!

 

[clester]

Big red candle and an RSI below 30..... Boy, the bottom looks near to me. But, sometimes these things go longer than you think.

I'm tempted...

 

[clester]

Big red candle and an RSI below 30..... Boy, the bottom looks near to me. But, sometimes these things go longer than you think.

I'm tempted...

Todays bounce probably an oversold rally. If we could get some good news this weekend on Europe we may get a few weeks rally. Tricky holding over the weekend but I'm chomping at the bit to buy here.

 

[ATCHUNTman]

Well did you jump in?

 

[clester]

Well did you jump in?

Nope. Glad I didn't. I need to see some stabilization first. As mentioned above. That falling knife can get you.

Patience is the key. Also, who knows what could happen this weekend?

I fell like we're close. Maybe the 200 dma will give some support.

 

[Boghie]

I was looking for a bounce too.
Something like a change of mood.
However, not much bounce, not so much.

When a big IPO gives the 'smart money' the option to sell on a bump - and it is taken - then the knife is still falling...

 

[ATCHUNTman]

I'm still hanging on...for now...

 

[clester]

Starting the week off with a bounce but will it hold? If it holds, is it a 1 or 2 day thing? The past 2 years May was down but had a short term rally at the end of the month. We are down about 9 % from the high and the month. We hardly ever that big a move in a month, up or down. RSI's are below 30 (oversold). We are nearing the 200 dma. A test of that would be perfect for a nice relief rally.

 

[clester]

All the stars have aligned for S fund. Buying today.

 

[jkenjohnson]

All the stars have aligned for S fund. Buying today.

Yesterday's S gain was nice. I hope today is too - I need to gain back the 13.5% gain that I rode all the way down to -0.05%. It is tough making money in this market.

 

[ATCHUNTman]

All the stars have aligned for S fund. Buying today.

Care to elaborate for an old golfing buddy? Thanks!