coolhand's Account Talk

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coolhand said:
Are you longs going to hold your positions today? (Not you BT, I know what your position is :D)
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Nope.

Pisses me off, when I placed my order to go long this week, the market was down just under a percent. It rallied and closed positive, costing me a better entry.

Then yesterday's tank, which is what I was hoping would happen the day I bought in. Now further downside.

I have been the bug, not the windshield, ever since the IFT rules went into effect.
 
weatherweenie said:
Nope.
Click to expand...

I hate decisions like the one you had to make today. Reminds me a little of last October when I got caught in that waterfall. The IFT requirement kept me in as my losses continued to mount expecting a bounce "any time".

Of course, I don't think this is anywhere near as ugly, but sucks just the same.

Hopefully we'll end the day with a rally. Still think that's entirely possible.
 
coolhand said:
Are you longs going to hold your positions today? (Not you BT, I know what your position is :D)
Click to expand...

CoolHand,

The only reason I have not pulled back over the last week is that I have been absolutely swamped during the morning hours.

Unexpectedly so.

So, I come to work thinking I can check the trend a couple of times before I pull the trigger - and viola it's past 0900. :p

I hate the IFT deadline, and I hate making transactions with four hours left in the trading day. Probably should have done so anyway. Probably should do so right now, but I hate knowing it takes hold TOMORROW at COB. Regardless, I think I would have only pulled 20% more out of C/S/I.
 
10 yr tbond yields dropped to 3.29% att. this tells me this market is very bearish.. stay in 89%G 11%F I will
 
DCguy said:
going 100%F possibly tomorrow
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DCguy,

Watch out for California. :nuts:

I don't know the percentage of California 'investment grade' bonds the 'F Fund' holds, but I do know that California bonds are being downgraded.

I think Fitch just graded them at BBB.

What happens when a retirement fund holding investment grade bonds is stuck with bonds that are downgraded to below investment grade?

I hear Massachusetts is in the same situation. :nuts:
 
Alcoa is doing better than expected as I expected. spx closed down only 0.17% and dow finished up 0.18%. I just checked...can some1 tell me how Aig is now worth $13.10? up almost 1300% in just 3 months..
 
Reverse stock split.

DCguy said:
Alcoa is doing better than expected as I expected. spx closed down only 0.17% and dow finished up 0.18%. I just checked...can some1 tell me how Aig is now worth $13.10? up almost 1300% in just 3 months..
Click to expand...
 
The game has changed. I'm still looking for a bounce tomorrow which may extend to Friday, but I don't think it will last much longer than that, if we in fact get one to close the week. Upside targets should be lowered accordingly. 900 SPX is probably the most we may see before a resumption to the downside.

This is what I'm expecting, but the main thing is staying in safe haven until the IT picture changes. We've got some serious technical damage now and aside from the usual sentiment rallies, we're headed lower.

F fund looks very good right now and I may diversify into that if we get a dip in the next couple of days. I'd still have one IFT left in the event the SS gives me a buy signal by the end of the month. That sounds like a plan.
 
One thing that I've noticed this week, is that the increase in bearishness does not seem to be generating a whole lot of buying interest. A buy signal that I had early this week has not translated into a marked move higher in at least three days. That's atypical for that signal and tells me that caution really should be elevated right now.

I'm not looking to make a move anyway as the SS had its fourth sell signal in the last 2 months this week and the recent market action suggest that the signal is finally bearing fruit.

I saw a comment the other day that really struck me, and it was something that I'd learned over the course of the last several years, but until I read this comment I hadn't realized its true importance.

"Knowing the timeframe one is best suited for is integral to being a successful trader."

I think given our IFT restrictions makes this statement even more relevant than it already is. Just something to reflect on. :cool:
 
coolhand said:
I saw a comment the other day that really struck me, and it was something that I'd learned over the course of the last several years, but until I read this comment I hadn't realized its true importance.

"Knowing the timeframe one is best suited for is integral to being a successful trader."

I think given our IFT restrictions makes this statement even more relevant than it already is. Just something to reflect on. :cool:
Click to expand...

Well said, your quote made me realize that I've finally begun to become aware of the time frame that best suites my life style and personality. Thanks for sharing.--Ron
 
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