JTH's Account Talk

[MrJohnRoss]

Tomorrow we could see a breakout to 5368 - then watch the fun start. Get me in at any price.

Quit trying to plant subliminal messages, Birch. Lol!

 

[Happy_Trails]

Well, so far this week, Bears 2, Bulls 2. My best guess for tomorrow is the bulls eek out a win with one more up day.

 

[Mapper]

I'll put a buck down... on the downside. :blink:

I've already got 5 figures riding on the upside :nuts:

Maybe I should put a buck on the downside...as a hedge :cheesy:

 

[Happy_Trails]

Wow, so far, next week's sentiment survey looks scary bullish. So far, 63% bulls, 27% bears. I know Birch, you need bulls to have a bull market but those numbers are kinda extreme. :worried:

 

[FAB1]

JTH that channel looks ominous, but I'll stand by the fact that today's big green bar is pretty.

Arrrgh mateys! damn the channel thats a bear flag fixing to break to the upside - hoist the mainsail me heartys were off!

 

[JTH]

That settles it, tomorrow will be a flat day, this way neither the bulls nor bears will get what they want.

 

[Mapper]

Arrrgh mateys! damn the channel thats a bear flag fixing to break to the upside - hoist the mainsail me heartys were off!

Saw that too, if that's the case it's an awfully meaty looking flag

 

[KevinD]

Bull flag...and it just has a short pole.

 

[JTH]

Just a note: The right red circle's 50% retracement of the previous middle red circle wave is to be expected.

View attachment 18581

 

[Intrepid_Timer]

Just a note: The right red circle's 50% retracement of the previous middle red circle wave is to be expected.

View attachment 18581

Thanks for the chart JTH. This is also a good example of how volatile the markets can be on a day to day basis at short term market tops (for the bears) or consolidating periods (for the bulls).

 

[James48843]

thoughts?

I'm looking at it this week, and thinking the market is much stronger than I expected. I really expected a bit of a tank over the last week and it never materialized. Instead, we got a real solid floor when we fell back, and popped up yesterday, and now we're not loosing what I thought we would fall back to this morning.

So what I am thinking is that the market has more solid information that what I thought it was, and I am tempted to buy back in here. But I am not convinced yet that this is the good place to do it.

What are you thinking, JTH? Go back in? Or stay on the sidelines some more?

Part of me is thinking to stay safe a bit longer. The other part of me is temping me to jump back in. I am so mixed it's weird. How about you?

thanks in advance.

 

[MrJohnRoss]

Be careful about trading based on feelings or emotions. Just my opinion, FWIW.

 

[Bquat]

JTH, even thought to me the market seems to be stronger, can the be an inverted cup and handle forming.:worried:

 

[JTH]

thoughts?

I'm looking at it this week, and thinking the market is much stronger than I expected. I really expected a bit of a tank over the last week and it never materialized. Instead, we got a real solid floor when we fell back, and popped up yesterday, and now we're not loosing what I thought we would fall back to this morning.

So what I am thinking is that the market has more solid information that what I thought it was, and I am tempted to buy back in here. But I am not convinced yet that this is the good place to do it.

What are you thinking, JTH? Go back in? Or stay on the sidelines some more?

Part of me is thinking to stay safe a bit longer. The other part of me is temping me to jump back in. I am so mixed it's weird. How about you?

thanks in advance.

I agree the recent strength was not expected, for now I like what the the PnF Charts are telling us, in that we are in a trading range, from my current perspective the resistance on the way up is stronger than the support on the way down.

 

[JTH]

I must admit, from a technical analysis perspective it is annoying when you see the 12:02pm 1-minute impressive spike to the upside, while at the same time still closing in the red? It has to be a mistake...

View attachment 18603

 

[JTH]

The Transports and Wilshire 4500 are range bound, so long as we stay in this range, there is money to be made. As if stands right now, we are in the middle of these ranges, so it's either "hold" or stay out and wait for an entry at the bottom of the range. If the bottom of the range doesn't hold, I'd strongly consider getting out.

These are Weekly charts.

The transports are trading from 5000-5400.
View attachment 18609


The Wilshire 4500 is trading from 680-720 (as previously stated in the PnF Thread.)
View attachment 18610

 

[JTH]

The Transports and Wilshire 4500 are range bound, so long as we stay in this range, there is money to be made. As if stands right now, we are in the middle of these ranges, so it's either "hold" or stay out and wait for an entry at the bottom of the range. If the bottom of the range doesn't hold, I'd strongly consider getting out.

These are Weekly charts.

The transports are trading from 5000-5400.
View attachment 18609


The Wilshire 4500 is trading from 680-720 (as previously stated in the PnF Thread.)
View attachment 18610

Side note: I think we are going to test the top of the range before the bottom, therefore I'll be putting on a small positon. I would not be doing this in my ROTH IRA, just in TSP, due to its limitations.

 

[Mapper]

I would not be doing this in my ROTH IRA, just in TSP, due to its limitations.

Confused, I assume you mean you ARE doing this in your IRA, not TSP, because of TSP limitations?

 

[JTH]

Confused, I assume you mean you ARE doing this in your IRA, not TSP, because of TSP limitations?

Nope, what I mean is if I had more than 2 IFTs a month I wouldn't be doing this move today, but because we only get 2 and there are 7 trading days left this month, I'm going to IFT in.

 

[Birchtree]

And here I thought he'd be doing the dogpaddle the entire summer now that he owns a pool.