Good luck

I've stepped out of stocks and now sit 75G, 25F. It was a great run, but I don't want to be stingy so for the rest of the month, I'll let the F-Fund shell out some pennies.

Hourly charts show the DOW Transportation average fell below it's 10/20EMA. Further weakness may give us a 10/20EMA crossunder. NASDAQ & S&P 500 look stronger.




AGG didn't do what I expected from the previous blog. Instead it lingered at 104 for an extra day, then headed higher. If we get to the top of the hourly channel @ 104.65 I'll make an exit.




Although the C & S funds saw weakness today, they stayed within the hourly price channel and the upper half of the bollinger bands.




On the weekly charts, the Dollar is at the level of a previous swing low from September 2008. Although we are at the bottom of the bollinger band, we are in the upper half of the descending price channel. Ugly on all acounts but if we are going to get a short-term bounce, it might be here.




For those invested, there's nothing wrong with taking some profits. For those not invested, there's nothing worse then watching a serious move like this escape. Still, I would think now would not be the time to jump in until we establish the next swing low (if we ever get one that is) either ways best of luck to everyone in this crazy market.

Cheers... JTH

 

[les2l8]

Thanks for the insight. I'm new and my knees are shaking. Moving 51(F) 20(S) 29(I)

 

[Bullitt]

Playing sentiment in a market like this is tough because depending on who you talk to, you're going to get a different response about this rally. I do think that anyone looking to sell some should be doing it now while anyone looking to add needs to sit tight a bit here. It's good to DCA on any of these 5-7% corrections we've been getting but to go all in on a 5-7% correction is nuts at this point. I think we're due for a larger shake, maybe down around a 10-12% when the next correction hits.