JTH's Account Talk

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Nothing more refreshing then submitting your IFT, then watching the market drop the next day...:cool:
 
Birchtree said:
I've been hungry for some pain - we'll see if you catch more of it than me.
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My friend I have more certianity than ever. I realize the world is ending, so be it, but the American markets have held up rather well and we still haven't had a sizable retracement off the 1225 top. The longer we hold off the lows, the better the breakout.

If you look at the 1st picture posted in my most recent blog, you'll notice today is the apex between the minor downtrend & the major uptrend. Today gave me positive confirmation, as always I'm flexable and willing to change my mind when price dictates it's needed. As for you, be prepared for me to gain some tracker slots on you, before you know it I'll be nipping at your heels...
 
Birchtree said:
Today I pop the clutch, catch a little rubber and pull away from you on the tracker.
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Good to see this market put out a breakout, in particular for the S&P 500. For the moment I'm happy with the 3-day 3.99% I took off the table. However, if I feel another buying opportunity should arise, I'll be sure to jump back in, till then you have the wheel, perhaps for the remainder of the year. I've met my most important goal, of 12% a year, so I may sit this one out and let you all get the glory. :)
 
I can honestly say I've been an ever evolving student of the trade, learning more each year than the previous. This year I've developed a deeper understanding of what it means when they say the market is climbing a wall of worry. I just want to carve out a sliver of time to thank each and every one of you for contributing to this forum.
 
JTH said:
I can honestly say I've been an ever evolving student of the trade, learning more each year than the previous. This year I've developed a deeper understanding of what it means when they say the market is climbing a wall of worry. I just want to carve out a sliver of time to thank each and every one of you for contributing to this forum.
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Well said JTH!! :)
 
JTH said:
I can honestly say I've been an ever evolving student of the trade, learning more each year than the previous. This year I've developed a deeper understanding of what it means when they say the market is climbing a wall of worry. I just want to carve out a sliver of time to thank each and every one of you for contributing to this forum.
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Ditto! There is no end to the learning process in this business.
 
crws;bt2453 said:
JT- are you charting the POMO effect?
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Thanks I have read through what little data is available on the subject. With only 196 Operations on record, there's just too little data to draw a sound conclusion from. The fact is there is so much manipulation going on, the only thing I feel I can trust it price, and even then avoilding flash crashes is simply luck of the draw.
 
JTH said:
Thanks I have read through what little data is available on the subject. With only 196 Operations on record, there's just too little data to draw a sound conclusion from. The fact is there is so much manipulation going on, the only thing I feel I can trust it price, and even then avoilding flash crashes is simply luck of the draw.
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My thoughts exactly, tough conditions right now.
 
SPX 1270 is in the cards. I base this on a 123% Fibonacci projection, and this level would form a 50% projected Head from the previous left shoulder swing high of 1225.
 
Warrenlm said:
Do you have an opinion on potential upside gain versus downside risk at the moment?
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My opinion is this market is not acting rational, but that opinon isn't making me any money at the moment. :D

There isn't much for me to find bearish right now, everything I'm watching appears to be in a bullish condition, and even the dollar is playing the game today. Problem isn't the markets; it's TSP's EOD price lag and IFT limitations. I've already scalped my 4% so I'm willing to wait for a pullback which might not materialize. This is options expiration week, so we may get some volatility and I may find a good pullback, but I need something lower than SPX 1225 to get a lower entry point. I know one thing, you can't fight the power of the federal government, they are determined to keep this market afloat and they will despite the long-term cost to capitialism. If you look at who hasn't made money this year, one thing continues to pop up. They've all been skeptical of this market...
 
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