clester's Account Talk

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Perfect bounce off the 50 dma's. now can we get some follow through tomorrow? I'd be tempted to get back in. The only thing missing for me is an oversold RSI.
 
Fwiw, Sam Stovall, last week, called for a drop to 1600 on the S&P 500 then a climb to 1700. He got the 1600 part right. Hopefully he's right on 1700.
 
weatherweenie said:
Fwiw, Sam Stovall, last week, called for a drop to 1600 on the S&P 500 then a climb to 1700. He got the 1600 part right. Hopefully he's right on 1700.
Click to expand...

Maybe.. We have early follow through this morning on a so-so jobs report. So, I guess the thinking is- no taper and economy is staying in first gear so buy,buy, buy. I don't understand so that's why I don't try to play the news.

We are still in our downtrend so I'll be looking for that to break. Things should go back to normal for this rally and retest the high if the sell off is over.
 
clester said:
Maybe.. We have early follow through this morning on a so-so jobs report. So, I guess the thinking is- no taper and economy is staying in first gear so buy,buy, buy. I don't understand so that's why I don't try to play the news.

We are still in our downtrend so I'll be looking for that to break. Things should go back to normal for this rally and retest the high if the sell off is over.
Click to expand...

I'm not sure I trust today's pop. Lets see if they fade the rally. I probably won't buy today but let's see how it goes. I need to take a good look at my charts.
 
clester said:
I'm not sure I trust today's pop. Lets see if they fade the rally. I probably won't buy today but let's see how it goes. I need to take a good look at my charts.
Click to expand...

With todays move up I might get back to even from when I got in last week. Crystal ball still on a sell?
 
jkenjohnson said:
With todays move up I might get back to even from when I got in last week. Crystal ball still on a sell?
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I guess you could say that. I already sold though and looking for a buying opportunity. I don't quite have a buy yet though.
 
All systems on to now for my system. I am trying to decide on C or S funds as they both have done well and about the same returns. C fund tends to be a little less volatile so I Amy leaning that way. We should now retest the high and break it. Perhaps my July correction theory is still in the cards. We should get to at least 1700 on this rally. As always, I'll be looking for a sell stop loss target in case the trade doesn't work out.
 
clester said:
All systems on to now for my system. I am trying to decide on C or S funds as they both have done well and about the same returns. C fund tends to be a little less volatile so I Amy leaning that way. We should now retest the high and break it. Perhaps my July correction theory is still in the cards. We should get to at least 1700 on this rally. As always, I'll be looking for a sell stop loss target in case the trade doesn't work out.
Click to expand...

So 100% S or C for you today?
 
clester said:
Just taking a quick look, I would say the 50 dma or the 1600 area.
Click to expand...

Looks like my timing was off again. At least this morning anyway. I don't like the volatility. Two days down over 20 points and then one day up over 20 points on S&P this month already. We need to hold above the 1600 area if we continue down.
 
clester said:
Looks like my timing was off again. At least this morning anyway. I don't like the volatility. Two days down over 20 points and then one day up over 20 points on S&P this month already. We need to hold above the 1600 area if we continue down.
Click to expand...

There is a gap on the S&P chart below 1625. That's unusual for S&P. Maybe we fill that today and bounce.
 
clester said:
There is a gap on the S&P chart below 1625. That's unusual for S&P. Maybe we fill that today and bounce.
Click to expand...

Looks like the gap has been filled. Look for a bounce. But if we're down over 20 points on S&P I'll have another sell signal. The problem with this signal is that I'm not sure I should use it if it happens intraday, near noon or after a close down over 20.
 
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