JTH's Account Talk

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JTH said:
I would start with just saving up a crap-load of money, then read & self-educate yourself while your saving the money.
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Hah! With a home purchase on the horizion, I'm about a year or so away from saving for stocks. But really my big concern is what service to use since I know so many can really gouge you with trading fees.
 
BichonFreeze said:
Hah! With a home purchase on the horizion, I'm about a year or so away from saving for stocks. But really my big concern is what service to use since I know so many can really gouge you with trading fees.
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scottrade i believe has the lowest trading fees (like 4.99 per which is almost half e-trades)
 
sniper said:
scottrade i believe has the lowest trading fees (like 4.99 per which is almost half e-trades)
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OptionsHouse is currently $4.75. Thankfully I am locked in with the $3.95 per trade since I started my account before they upped the price. I enjoy their platform as well.
 
JTH said:
Not much to report, looking at the hourly SPY chart, over the last few sessions, prices are in a tight trading range with noticeably lighter volume.

View attachment 27535
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Ok JT, share your thoughts on what we might expect to see from the charts since we finally had a down day. I oonly have 1 IFT left and need to make the right entry.Thanks
 
[/QUOTE]Ok JT, share your thoughts on what we might expect to see from the charts since we finally had a down day. I oonly have 1 IFT left and need to make the right entry.Thanks[/QUOTE]

This is my guess at JTH's reply...

Despite the downturn today there is still a good probability that we need more of a correction. The RSI, MACD, and Slow Stochastics are just now rolling over...or at least that is the current indication. Bottom line is there is still more of a probability that we move down vice up...if you are out stay out until the oversold condition is met..if you are in don't sell until you get a confirmation of the continuing down trend...
 
rspring said:
Ok JT, share your thoughts on what we might expect to see from the charts since we finally had a down day. I oonly have 1 IFT left and need to make the right entry.Thanks
Click to expand...

The TNA Small Caps ETF has had 5 concurrent down days, for me this puts the top on 4 March (supported with a spike in volume that day on TZA the bearish ETF.) As we approach the end of March, we may see some window dressing to close out the quarter, that could be happening now, which might be why the pullback is stronger in the small caps. What we haven't seen yet is a significant surge in negative volume leading me to believe selling pressure is still subdued.

We have an hourly gap fill @ 1846.33 & 1774.06 At this time I think it's reasonable to look for the first 1846.33 gap to be filled and the 3 march 1834.44 low to be tested. But before any of this can happen, we need to breach 1850 which is an area of 2 previous tops, some congestion on the last wave, the 20SMA, and the 1st Fibonacci level. If a big dummy like me can count 4 areas of support @ 1850, you can bet everyone else can too, so if this area breaks, I expect it to flood the sellers out the door, quickly pushing us down to the next levels of support.

View attachment 27542
 
JTH said:
We have an hourly gap fill @ 1846.33 & 1774.06 At this time I think it's reasonable to look for the first 1846.33 gap to be filled and the 3 march 1834.44 low to be tested.
View attachment 27542
Click to expand...

I would wet myself, in a good way, if we got down to 1846, moreso if we got to 1774, and I still held TZA, UVXY and was in the G fund in my TSP.
 
Ok JT, share your thoughts on what we might expect to see from the charts since we finally had a down day. I oonly have 1 IFT left and need to make the right entry.Thanks[/QUOTE]

This is my guess at JTH's reply...

Despite the downturn today there is still a good probability that we need more of a correction. The RSI, MACD, and Slow Stochastics are just now rolling over...or at least that is the current indication. Bottom line is there is still more of a probability that we move down vice up...if you are out stay out until the oversold condition is met..if you are in don't sell until you get a confirmation of the continuing down trend...

Ha, truth is I don't use much for indicators, at least not the ones the majority use, for the most part it's Price, & Volume with a sprinkle of Fibonacci & Bollinger Bands. I still have 2 IFTs this month, still waiting for the right setup and still getting left behind...
 
Almost as soon as I posted my response I knew I was just posting my own thought and not truly representing the JTH methodologies. Your thread is one of the few I track so I decided to offer my position. As far as being left behind goes...only time will tell...frankly I feel ok about where I am (and we are similar)....I have slept good and feel good about why I am or am not invested...I chalk the misses up to stochastic behavior that I can't really control.
 
gronk007 said:
Almost as soon as I posted my response I knew I was just posting my own thought and not truly representing the JTH methodologies. Your thread is one of the few I track so I decided to offer my position. As far as being left behind goes...only time will tell...frankly I feel ok about where I am (and we are similar)....I have slept good and feel good about why I am or am not invested...I chalk the misses up to stochastic behavior that I can't really control.
Click to expand...

Lol you had the last part right, I'd be hard-pressed to make an exit above 1850
 
JTH said:
The TNA Small Caps ETF has had 5 concurrent down days, for me this puts the top on 4 March (supported with a spike in volume that day on TZA the bearish ETF.) As we approach the end of March, we may see some window dressing to close out the quarter, that could be happening now, which might be why the pullback is stronger in the small caps. What we haven't seen yet is a significant surge in negative volume leading me to believe selling pressure is still subdued.

We have an hourly gap fill @ 1846.33 & 1774.06 At this time I think it's reasonable to look for the first 1846.33 gap to be filled and the 3 march 1834.44 low to be tested. But before any of this can happen, we need to breach 1850 which is an area of 2 previous tops, some congestion on the last wave, the 20SMA, and the 1st Fibonacci level. If a big dummy like me can count 4 areas of support @ 1850, you can bet everyone else can too, so if this area breaks, I expect it to flood the sellers out the door, quickly pushing us down to the next levels of support.

View attachment 27542
Click to expand...

Hourly Wilshire 4500 breaks the most recent trendline and test the first Fibonacci level.

View attachment 27553
 
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