JTH's Account Talk

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jkenjohnson said:
Does this mean you are headed out the back door today?
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Not much has changed from my original assessment on 20 April, it's pretty much the exact same setup, only this time, after the failed attempt on the 50 SMA, we have a slightly higher high & higher low.

JTH said:
My expectations here are simple

Closing price above the lower red line @ 987 keeps me interested, under those conditions I’ll be looking for a breach of both the 20 & 50 SMAs this week. As previously mentioned, I’m looking for a minimum price target of 1,000 which is .90% from Thursday’s closing price. After a successful test of the 20-SMA in the 1,000 area, I’ll be looking to test the 50-SMA in the 1010 area, followed by a Fibonacci retracement bounce in the 1020 area, from which point I’ll definitely be looking for an exit, perhaps in early May.

For downside potential, a lower low on Monday, below Thursday’s close stands a fair chance of pushing me out on Tuesday’s traditional pop. I don’t have hard & steadfast rules for an exit, it is dependent on my impressions of the price action across the various indexes. I can say a close below 15-Apr’s 975 steers me towards thinking we will test the 5-Feb bottom at 939.
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Today and tomorrow will have alot to say about the "sell in May, go away".
In the end though its all about sheparding the herd.
 
JTH said:
Don't make any mistakes here, I do not have a brigade of followers, I'm only as good as my last IFT and when at the bottom of the tracker nobody cares what I think about the markets (and they would be wise not to.) The fact that you would even say that tells me you are what we call a "player hater" that's a good thing, I hope this motivates you to improve your performance. Don't get me wrong, I player hate all the time, it's healthy to be competitive, there's nothing better than winning.

As for the argument about predicting price vs. reacting to it, if you want this to mean the same thing, then by all means believe that. I know for a fact that I cannot predict price and I've accepted this truism. Indicators do not predict price, they are written based off of past price, they react to price and are nothing more than mathematical formulas. Trendlines do not predict price, they project the potential for price based off past prices, just another form of linear regression.

As for the Premium Service guys, there is only 1 person here who as proven their performance year after year. All others have either failed miserably or or have yet to prove themselves.

The fact that you would wish me "luck" in the markets is probably the most insulting thing anyone in this forum has ever said to me and this is the second time you've done that. I forgave you the first time. If you want to pick arguments off of one liners than go elsewhere, perhaps the political forum is your thing. If you want to have an honest discussion about price levels than I'm all ears, technical analysis is what I'm here for, anything else is just a waste of my time.
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You should have a beef with this guy, this is sacrilege. How dare he calls it luck! I may agree with most of the things he says, but even though I don't use and interpret squiggly lines as patterns, I still use price (sentiment), so sic 'em, JTH. :D

TA Charting is all about Luck
 
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