JTH
Well-known member
Thanx, JTH, your Signature Block Blog is really helpful -
Thank you Grandma, I'm glad to see you here, I'll get out a blog this weekend in preparation for the month of May.
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- Thread starter JTH
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Thank you Grandma, I'm glad to see you here, I'll get out a blog this weekend in preparation for the month of May.
JTH
Well-known member
JTH
Well-known member
It's a good day to not be in the market. Some might see it as a buying opportunity, I ask what's the hurry? We are 5 months into this year, still plenty of time to make money. I suppose it's possible I could take an entry into the markets tomorrow, I'll post something on that tonight.
JTH
Well-known member
There is one particular type of pullback I feel I have a statistical edge on, and this isn't it. However, as long as the Wilshire 4500 stays above 700 this week, I think the bulls are still in control of prices. I don't see myself making an entry into the markets tomorrow.
BORDERBLADE
New member
I am still on the sidelines. Need some direction to move. :blink:
JTH
Well-known member
I kinda agree with you here. I kinda see a rounded top in the 5 day chart of the S&P. Is this too small of a time frame to be bearish. Looks like a building of weakness instead of bull pull back this time. Your guess?
I do on occasion watch the 30 minute 25/100 SMA, simular to those who watch the 15 minute 50/200SMA, but I do that under multiple indexes. Speaking for myself, I like to step back further to the 6-month daily frame, using the previous waves as a guide for price direction. I find if I get into the shorter time frames, I get caught up in the day-to-day drama, and my personal belief is this doesn't work very well under TSP's conditions. I have not been very aggresive this year.
BigJohn
Member
I think if I was still in TSP..I would have jumped in today before noon..nice low
I hope you are right...I sprung off the diving board a few minutes ago into the S fund.
mayday
Active member
I'm with you poolman. I'll pass today.
BORDERBLADE
New member
I went into the S fund today as well.
Britts4life
Member
I went in yesterday, figuring a 2-day 1.8% dip in the -S- was a gift...but guess what...patience would have paid off. I liked JTH's comment yesterday about going in "Its still early...plenty of time to make money...what's the hurry". The dip buying that has ensued in the past hour since the Wilshire dropped below its 20-day EMA tells me this might be very close to the bottom....and volitility should spike stocks upwards in the next few days.
The chartists would say that we have NOT had a top (per S&P). Not enough flatness or spikeness we usually see...and the rounded periodicity is too short (needs to be 5-8 days). So instead of a 5-10% dip, I think 3-4% dip (near 20 day EMA) should be about it.
Sorry for thread hijack...I always end up writing more than I thought.
Remember that I don't know anything about any of this, but I do like your reasoning and we have risen a bit from the earlier lows. Perhaps getting in for tomorrow was the best call. I was still a bit uncertain before the deadline so I decided to play it safe like a couple others have posted elsewhere. But unless tomorrow morning is a disaster I think I'll take that foot off of the dock, jump in the boat and set sail.Similar threads
