JTH's Account Talk

[JTH]

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[Mcqlives]

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Another triangle with higher lows?

 

[tctang75]

I get a large charge tucking dope profits into my Roth. Not sure what makes me giddier, selling cannabis for gains or not paying taxes on the earnings. Moderation, of course!

 

[JTH]

I am very upset with my ROTH IRA performance this year, this is the worst 2-month performance I've had since 2009 and it's inexcusable. The rules I set in place, are not working, I'm pushing the reset button, scrapping the system and going back to the drawing board. The biggest problem I've had is that I don't have the kind of funds available to afford to get tied up in positions for long periods of time and the DCA approach does not suite my style. Putting myself inside the DCA box has made me an unhappy trader, I am a scalper, it's who I am, it's where my best performance lies. I'll be working myself out of these positions, regrouping, and figuring out how to best implement a trading plan that suites my style and all within the confines of not interfering with my work schedule.


To thine own self be true, and it must follow, as the night the day, thou canst not then be false to any man.

​

Thanks everyone for letting me vent my frustrations, I did exit SNV for a nominal profit & TZA for a nominal loss. Holding HEMP & GE, otherwise I'm 57% cash and sitting on my hands until further notice...

 

[jkenjohnson]

Thanks everyone for letting me vent my frustrations, I did exit SNV for a nominal profit & TZA for a nominal loss. Holding HEMP & GE, otherwise I'm 57% cash and sitting on my hands until further notice...

If it makes you feel any better I have beat my Roth up trading TZA and TNA. Mostly losses on TZA. You just can't seem to short this market.

 

[wavecoder]

If it makes you feel any better I have beat my Roth up trading TZA and TNA. Mostly losses on TZA. You just can't seem to short this market.

I totally understand what you mean. Last year about 80% of the loss moves I've had were trying to play TZA. I gave up on the idea of nailing a TZA move in a bull market & just looked for buying opportunities on the bullish side instead.

 

[jkenjohnson]

I totally understand what you mean. Last year about 80% of the loss moves I've had were trying to play TZA. I gave up on the idea of nailing a TZA move in a bull market & just looked for buying opportunities on the bullish side instead.

That is what I am going to do in the future too. I am totally forgetting about TZA.

 

[ILoveTDs]

That is what I am going to do in the future too. I am totally forgetting about TZA.

Until the bear returns?

 

[wavecoder]

Until the bear returns?

possibly, but until that happens, i'm all about the bull tinky

 

[Birchtree]

Liz Ann Sonders of Charles Schwab says, "I think what started five years ago was the beginning of a secular bull market, not just a cyclical bull within an ongoing bear."

 

[JTH]

 

[gronk007]

JTH...
Any thoughts of trying to get in before the end of Feb? I feel like even if we had a small down day today it would not help downside vice upside probability for the next week or so...I'm tempted to try and get in but I think we would have to have a big down day today followed by weakness on Friday...and even that scenario would feel like the falling knife attempt. Interested in your thoughts for today and tomorrow.

 

[BichonFreeze]

JTH...
Any thoughts of trying to get in before the end of Feb? .

FYI, volatility may be very high today with Yellen speaking.

 

[JTH]

JTH...
Any thoughts of trying to get in before the end of Feb? I feel like even if we had a small down day today it would not help downside vice upside probability for the next week or so...I'm tempted to try and get in but I think we would have to have a big down day today followed by weakness on Friday...and even that scenario would feel like the falling knife attempt. Interested in your thoughts for today and tomorrow.

I'm sorry, I wish I could better answer your question, but I'm in a frustrated place, so I'm sitting on my hands until I either change my mind or the markets change theirs.

Finishing the end of February, this isn't what I'd call a good buying opportunity.

Let's look at the YTD totals of our glorified TSP funds.

F-Fund 2.04%
C-Fund .18%
S-Fund 3.09
I-Fund .76%
TRANSPORTS -1.72% (WTF???)

With only 2 months in, there is a huge disparity, this is not "a rising tide floats all boats market" this is a warning sign of an impending correction. I don't know what to do with this market and when I don't know what to do, I do nothing...

 

[JTH]

Looking at the 15 minute charts over the past 2 days we've established an 1840-1850 trading range.

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[Shamus13]

I'm out of IFTs so I was sitting with 10% C & 10% S until March. I realized I'm crossing my fingers in hopes of a few more gains before a drop & buying opportunity in March. The only thing that scares me more then missing gains is me 'hoping' for gains. I'll be in G at close of business. There is potential here but to many mixed messages, oh well.

 

[JTH]

Prices appear to be compressing, in general I consider this to be a bullish pattern.

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[rspring]

Looks like were breaking out to the upside.

 

[MrJohnRoss]

JTH...
Any thoughts of trying to get in before the end of Feb? I feel like even if we had a small down day today it would not help downside vice upside probability for the next week or so...I'm tempted to try and get in but I think we would have to have a big down day today followed by weakness on Friday...and even that scenario would feel like the falling knife attempt. Interested in your thoughts for today and tomorrow.

gronk, I don't want to hijack JTH's thread, but my opinion (for what it's worth) is to wait this market out before jumping in. I believe the next move is to the downside. Take a look at the RSI, Stoch, and PPO. All are elevated, and the next move is most likely a down wave. This current move is getting a little long in the tooth, IMHO. Unless you're hoping (gambling) for a little one or two day more on the upside, you might regret seeing the market correct right after you jump in. Of course, BT would advise you to go ahead and jump in with both feet and stay long forever, but unless you're a permabull, it might cause you to later panic and sell out at the low.

 

[Birchtree]

Goldilocks has plenty of porridge to share and it's time to pull up to the table. The bears are about to get sprinkled with voluminous bull tinky.