JTH's Account Talk

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Good morning

I don't have much to add (I'm in a rush) price levels have met my expectations, time hasn't. My current thoughts are that I will be making an exit somewhere within the red window.

View attachment 20941
 
Good afternoon

A bit of resistance based on the yellow triangle, but I don't expect it to hold, my expectations are that it will breakout to 717 and pullback from there. Tomorrow we may pause & hold, then Monday push ahead.
 
Good afternoon, JTH.:) I would like your post like 25 minutes ago.:D I always check your charts.
 
Good afternoon

I should have made an exit on Thursday but I thought I could squeeze out an extra day, I was wrong. For the time being I'm somewhat content so long as we don't break below the yellow triangle, if we did that then I'd bail (partially based on my entry position.)

View attachment 20998
 
I was watching the tracker, noted you didn't exit on 11/5, but was on 13 hrs travel 11/6 and didn't check; a day late and many dollars short, I suppose. I had thought about doubling down today but chickened out....wow.....look at that sell volume in the SPY (262 million), most exchanged in at least 4 months, if memory serves. That is quite the big move, and timely one for you.
 
amoeba said:
I was watching the tracker, noted you didn't exit on 11/5, but was on 13 hrs travel 11/6 and didn't check; a day late and many dollars short, I suppose. I had thought about doubling down today but chickened out....wow.....look at that sell volume in the SPY (262 million), most exchanged in at least 4 months, if memory serves. That is quite the big move, and timely one for you.
Click to expand...

A timely move yes, an unpredictable move no. In my experience it is far more likely that a news related event will produce a drop rather than a pop. Add to this...When the charts hit resistance at the top of their ranges, then start rolling over, I have no choice but to protect the gains. Still, all these variables are really dependent on the entry/exit position and how it corresponds to the direction of the swing. Some of it is random luck, most of it is the luck you make yourself. As for myself, I'm in the zone but keeping in mind we are only as good as our last trade...
 
CU later

JTH said:
Good morning

That shelf @ 1400 needs to hold, it should hold, if it doesn't hold then 1370 may get paid a visit. IMHO the markets are over-reacting today.

View attachment 21018
Click to expand...

I say to this market "CU a little later" (at or below 1,370); doesn't matter if they are over-reacting, that is what the price is, and resistence is firming up.
 
are you moving because what tom wrote in his column that next week is showing a buy 100s? i have sat in the G entirely to long but 8 months ago i was at -8/9% played with ift's to get within -.5% for the year and decided to sit in G until after election and let NOV/DEC/JAN do as they seem to always do but because of all the bs uncertainty out there i am now wondering if i should wait for just a little longer. i know we have seen about 3/4% drop the last couple days and now today it wants to give a little back. i think this is a fake out and just people thinking they are getting a bargain so some are investing. i do not have anything to back up my next statement and i should not base it on feelings but i got this feeling next week will be the sam as this because people are not over the election yet but the week of thanksgiving will be the turn around week. i wish i could chart but i do not know how. thanks for listening good luck investing.
 
goforit said:
are you moving because what tom wrote in his column that next week is showing a buy 100s? i have sat in the G entirely to long but 8 months ago i was at -8/9% played with ift's to get within -.5% for the year and decided to sit in G until after election and let NOV/DEC/JAN do as they seem to always do but because of all the bs uncertainty out there i am now wondering if i should wait for just a little longer. i know we have seen about 3/4% drop the last couple days and now today it wants to give a little back. i think this is a fake out and just people thinking they are getting a bargain so some are investing. i do not have anything to back up my next statement and i should not base it on feelings but i got this feeling next week will be the sam as this because people are not over the election yet but the week of thanksgiving will be the turn around week. i wish i could chart but i do not know how. thanks for listening good luck investing.
Click to expand...

Goforit, all of my IFT's are entirely based off my own personal technical analysis. I do read Tom's blogs most of the time and watch IRA Epstein, In the Money Stocks, and Omni's YouTube videos nightly. I also occasional watch CNBC's Fast Money, and NBR's Nightly Business Report. The NBR program is the best stock-news program available and it's free on PBS or online. I don't follow the sentiment survey but if it's on the same side as me I'm fine with that, if too many people are on the same side as me, I'm not fine with that. Overall, my strategy is to make the most gains possible in the least amount of time. I try to be invested less than 50% of the time.
 
Good morning

Just a gentle reminder, the 1370 area is a 50% retracement from the Jun bottom to the Sep top. As such, we should expect this area to hold. If it does not hold, then defense will be paramount.

View attachment 21106
 
True. There is also the 0.618 retracement level from the June-September advance that lands in the 1346 area. IMO, it is not out of the question to take a shot down there to get the sentiment more bearish and then a nice little Thanksgiving rally.
 
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