coolhand's Account Talk

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Looking for some weakness again, but it may be bought. We're overdue for a pullback, but the bulls have been in control. Since it's early in the month it's too early to get cute with IFTs. Will be watching the SS if weakness comes, but I'm not expecting a sell signal. That's the only way I'd sell my position right now.
 
Ch,
Thanks for the excellent information you are sharing with us. I started this month not fully invested. I also believe there should be a correction soon. But in this abnormal market with so much liquidity, will we have an opportunity to get lower prices this month? Any thoughts. Tia.
 
coolhand said:
Looking for some weakness again, but it may be bought. We're overdue for a pullback, but the bulls have been in control. Since it's early in the month it's too early to get cute with IFTs. Will be watching the SS if weakness comes, but I'm not expecting a sell signal. That's the only way I'd sell my position right now.
Click to expand...

Exactly Coolhand, ride this train until the market tells you otherwise. The
SS will turn out a Sell Signal eventually, but the profit could be significant
before that happens. Earnings continues to shine and the Economic view
trends towards improvement. :)
 
squalebear said:
Exactly Coolhand, ride this train until the market tells you otherwise. The
SS will turn out a Sell Signal eventually, but the profit could be significant
before that happens. Earnings continues to shine and the Economic view
trends towards improvement. :)
Click to expand...

Yep. The only problem right now is if the news gets "too" good. Then the rug gets pulled. :rolleyes:

But I don't think the news is that great overall so I doubt we're anywhere close to that scenario. But we still could have enough selling pressure to make the new bulls nervous.
 
Just thought some of you folks would be interested to know that the Seven Sentinels gave another buy signal today.

Forget the pullback for now. It many not matter much in the big picture if we do get one. This market may be getting some serious legs, even after the run-up we've already had. :cool:
 
coolhand said:
Just thought some of you folks would be interested to know that the Seven Sentinels gave another buy signal today.

Forget the pullback for now. It many not matter much in the big picture if we do get one. This market may be getting some serious legs, even after the run-up we've already had. :cool:
Click to expand...

CH,
This is great news. Thank you. :)
 
Thanks CH
Last time SS gave a sell signal I should have listened so the fact that there is a buy signal adds some confidence to stand pat.
 
Let me amend my previous comment a little. We did get a buy signal. However, Don says only the first one matters. He's never found any significance to subsequent signals in the same direction. He thinks a second signal may indicate exhaustion to the upside in this case.

He also has not officially retracted his call of a false buy signal two weeks ago. He's been working diligently on researching his system and recent market action in an effort to explain whether the first signal was indeed a true buy or not. I'm looking forward to his analysis.

On the sentiment front, I still believe we are still looking higher, even after a pullback (assuming we don't get a SS sell signal). I made the assumption we had a buy signal from the SS and I'm sticking with that assessment without trying to read too much into it. Emotion can be a powerful thing, and right now emotion is still building. I'm not so sure we've seen any exhaustion yet. Some thought we were seeing it last Friday, and how did today's trading go. :rolleyes:

I suspect the pain of missing out is forcing more cash into the market and we may have a ways to go yet before we see a true IT reversal.
 
Since I was 100% invested to start the month, I've got an extra trade this month. Just intitiated an IFT to rebalance my account to 25/75 SI. Forget the C, the money is in S and I assuming we continue to move higher, and I'm obviously making that assumption with a continued SS buy signal.
 
Watching from afar with eyes wide open. I think it's to early to sell this thing.
Still to early I know but I may have to retract my (Flat to the downside) statement to the upside.
There is one trouble spot for me. (Personal one) On days when the Market trends higher WMT is generally down. Today they are both trending higher. I believe today will be a push. IMO
 
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