FUTURESTRADER'S account talk

[Birchtree]

I've been reading a lot of sad stories lately on the message board. Allow me to add one more from a different perspective. Last year I needed money to buy stocks during the corrections so I decided not to look the gift horse in the mouth when it came to my position in AKS. I liquidated this stock over time ending up with a $94K profit. I was right but I didn't sit tight and because of this error I've left over $80K more on the table. I did pick up some nice value wall flowers but will they work out well enough to make up that extra $80K I could have in my balance - only time will tell. One of those purchases I DCA'd into (AGU) went up 16.39 points this week, so don't cry for me Argentina. Buy and hold is still the best approach with a few swing trades thrown in for good measure.

 

[FUTURESTRADER]

Agreed, buy n hold 'can' be a good approach 'outside' of TSP, where one can do their Warren Buffet due-diligence into individual companys.

 

[Birchtree]

Uptrend,

Let's see how long you can endure the pain of your capital preservation position. We all know there is an eventual bottom to this madness - but the sky has no limit. This feels like 1995 all over again but with greater firepower - if I'm right I'll sit tight and ride this train until we reach New York - no getting off in Vegas because it's a fun town.

 

[FUTURESTRADER]

shewww...that was fun...covering closer in short puts, selling a few further out puts, and selling a few calls. Think I came out about even, and got further away.

 

[FUTURESTRADER]

Alright..Pontious Pilot here..washing my hands of it all for now...I give....Capitulate, throwin in the towel. I've been 85% G, 5C, 5S, 5I for the past few weeks, but even the nickel n dime'n is gettin old. This is my first IFT of the month, so I can jump back in, maybe after we see what lifting the short selling ban does.

 

[FUTURESTRADER]

owww..this falling knife has turned into a falling chainsaw.

 

[FUTURESTRADER]

Sold four 660 november sp500 emini puts today for $.65. After $7 comission each, net is $102. Account size was $7,652. That's 1.33% profit if SP500 stays above 660 by expiration this Friday (4 days). Still have over $3,000 in margin available.

 

[Show-me]

You guys playing options and margin accounts have nerves of steel.

 

[Gumby]

You guys playing options and margin accounts have nerves of steel.

Double down and deal me a good hand!!!!

 

[FUTURESTRADER]

I thought we might see a 'buy the HOPE rumor' today and tomorrow.

 

[kar_crazy]

You guys playing options and margin accounts have nerves of steel.

letting them hang, but i think they are dragging the ground:laugh::nuts::blink:

 

[WorkFE]

Luckily I have had all the Children I want

 

[FUTURESTRADER]

CNBC running today "Is Buy and Hold Dead?" Now that the strategy has produced -51%.

 

[KevinD]

Happy Birthday and congrats on a really good year so far.

 

[nnuut]

Happy Birthday FT hope you have a good one and make plenty of money!!
Norman

...............................View attachment 9457

 

[grandma]

Wow! Friday already!!
Have a Beautiful Birthday day! -and Congrats to your mom!
View attachment 9458

 

[Medic72]

Happy B-Day! :toung:

 

[FUTURESTRADER]

DWCPF is currently below 8 day ema, 10:13 est, signaling a potential longer pullback. Confirmation would be two lower daily closes below 8 day ema. Same on the way up. 2 higher/lower closes above/below 8 day ema.

 

[amoeba]

Accordingly, I put in my IFT to average down on stocks monday (I know, I know, it breaks one of the investing mistakes rule for the umpteenth time);

With another two down days - where's yours?

 

[FUTURESTRADER]

Accordingly, I put in my IFT to average down on stocks monday (I know, I know, it breaks one of the investing mistakes rule for the umpteenth time);

With another two down days - where's yours?

Amoeba...last friday saw s&p's first lower close below 8 ema so I had to hold, 5 plus years of historical trends show 2 days. It came back from 8 ema last thursday. S&p now showing 2 lower closes below 8 day ema as a probable confirmation longer term lower prices, based on past several years of trending. DWCPF closed higher today so not complete confirmation. I am leaning towards using the DWCPF only for this inidicator. EFA has had several lower closes below 8 ema.