DBA, you're not in the AutoTracker??
That's because I am in TSPTalkplus subscription (but not following signals). I bought a one year back in January... I like the information (really good) and the take on markets ... and I like knowing the sentiment survey signal but alas I pretty much execute without relying on it. I really use information from many places and charts with just a few indicators such as EMAs, Bollingers, Slow Stochastic, and MACD and then always looking at slopes and then consider seasonality, sentiment, news, futures, lunar, and other hunches and leads). I usually try to rely on the technical more. Obviously today is not one of those times...but will see. :smile: Today's entry is very high risk...I will be in pins and needles until I get out. Just want to make sure I do not get greedy if it goes up, and overstay my welcome. The market has been brutal. My goal is 1%.
This means I will only be able to use one IFT in October to exit so I will not be able to average out using two moves, so the exit will be critical......as I want to preserve the 2nd IFT of October to hopefully catch the second half of what I believe will be second part of the double dip bottom around mid-October or so. I am thinking that might be the bottom for a little while ...possibly continuing down for a time but possibly having a short term opportunity later in month if prices drop again. Obviously all just speculation based on thoughts that I've heard the market tends to come down a couple weeks before a Fed meeting (or basically anything they say at anytime), etc... and also the lunar exit day is 10/9 (market crash exception) and based on what I have been reading from others about the Elliott Wave.
In any case, I think we will have at least 4.5 months total (or possibly into next year) of short downtrend before we see indicators right themselves. That is just based on seeing how long the last double dip below zero line in MACD downtrends took.. one was 2 months and the other 4.5. So the strategy is still just to catch some DCBs..short buys... risky...until the technical indicators start to display that we are back in an upswing.
I am around 3.15% or thereabouts right now... took a hit in August... got in a day too early and caught a very sharp knife! Ouch... then got out gradually (using two moves) over the next week to avoid a bad exit (unforeseen things that happen after noon). I had been around 4.79 or so. So I have a little cushion but not much...
Best Wishes to you and everyone on your investments!!!!!!!!!!!! :smile:
P.S. What is odd is that when Fed did not act, the market sank...which is opposite of what I thought it would do. Then talking heads indicated this was because market took it as no action means economy is bad. Okay ... but the opposite is that if it goes up many are saying that would be detrimental to the global markets. So the Fed is now determining its action based on global effects????? Dang... what the hell.
Then when that Fed guy spoke a few days back saying October was the time for likely hike...or something to that affect, the market reportedly did not like it and dropped. So.... I still find it hard to believe they will increase in October because the economy is not healthy and surely we have not hit the 2% inflation they kept talking about earlier this year. But then again... seems they care more about not affecting the global markets.... Then with them hinting they will raise in October, how can they back down. I still don't have a good sense of how market will react. Anyone have a take on that????