MrJohnRoss' Account Talk

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MrJohnRoss said:
Looks like I spoke too soon! S&P is having a pretty decent rally today. Let's see how she holds going into the close. Kinda fading into the final hour. The real test will be how it looks tomorrow... whether we can get some follow through action.
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I'm keeping my fingers crossed that when Ben Bernanke speaks tomorrow, today's gain (in the S fund) will not end up being all for naught!:worried:
 
sstasel said:
I'm keeping my fingers crossed that when Ben Bernanke speaks tomorrow, today's gain (in the S fund) will not end up being all for naught!:worried:
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Yeah, $EMW had a nice pop today. Finally. Looks like it's wanting to re-claim the 50 day EMA. It's do or die time. The 5, 20, and 50 are all sloping down, which is not a good sign. It's just one day, but it has to start somewhere, right? Thanks for stopping in to say hi! :)
 
Markets are dropping due to the uncertainty of the FOMC minutes. No surprise there.

NUGT had over a -5% fall right out of the gate, but looks like it's already trying to recover some of those losses. It would probably need to close below the 90 area to cause the model to flip. It's still early, and a lot can happen throughout the day, so let's see how things look later this morning.
 
You never know with the I fund with that fair value always active - a bad situation can always surprise and turn good.
 
Birchtree said:
You never know with the I fund with that fair value always active - a bad situation can always surprise and turn good.
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Yes. It looks like EFA is trying to make a stand at the 50 day EMA after a gap down. Let's see if she holds. My guess is it's going to follow in the footsteps of the Dow and S&P and head lower.
 
MrJohnRoss;419763]Markets are dropping due to the uncertainty of the FOMC minutes. No surprise there.

NUGT had over a -5% fall right out of the gate, but looks like it's already trying to recover some of those losses. It would probably need to close below the 90 area to cause the model to flip. It's still early, and a lot can happen throughout the day, so let's see how things look later this morning.
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I sold 50 % of my NUGT at Market close yesterday, and sold the balance today when share price dropped below $90.00. A nice 18% gain on the trade, thanks for your guidance..
 
Dutchy said:
I sold 50 % of my NUGT at Market close yesterday, and sold the balance today when share price dropped below $90.00. A nice 18% gain on the trade, thanks for your guidance..
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18% is great! Congratulations!

Not exactly sure yet where NUGT is headed in the short term. It's been another wild day today. We may bounce around the 85 - 100 area for a few days until the market decides which way it wants to go.
 
MrJohnRoss...18% is great! Congratulations!

Not exactly sure yet where NUGT is headed in the short term. It's been another wild day today. We may bounce around the 85 - 100 area for a few days until the market decides which way it wants to go.
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Yes, understood. I believe you said to watch $90 at the close for a flip to DUST. I put in a "informal" stop at $90, just wanted to lock in some profits right now.
.
I'll be watching Market action tomorrow AM and may buy SHORT ETF's then..
 
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Dutchy said:
Yes, understood. I believe you said to watch $90 at the close for a flip to DUST. I put in a "informal" stop at $90, just wanted to lock in some profits right now.
.
I'll be watching Market action tomorrow AM and may buy SHORT ETF's then..
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You did the right thing. Because of the wild market swings, I waited to see if we'd get a rebound at the end of day, and when it didn't happen, I pulled the trigger.

If NUGT rebounds tomorrow, and DUST falls, I may pull out all my hair. Choppy action could eat this system alive. We need a strong trend to make this system work properly.
 
MrJohnRoss said:
You did the right thing. Because of the wild market swings, I waited to see if we'd get a rebound at the end of day, and when it didn't happen, I pulled the trigger.

If NUGT rebounds tomorrow, and DUST falls, I may pull out all my hair. Choppy action could eat this system alive. We need a strong trend to make this system work properly.
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NUGT/DUST system has extremely choppy action this morning. DUST fell right out of the gate, which was the exact opposite of yesterday's strong closing action. It now appears to be making a rebound, but it remains to be seen if that will carry through...
 
MrJohnRoss said:
NUGT/DUST system has extremely choppy action this morning. DUST fell right out of the gate, which was the exact opposite of yesterday's strong closing action. It now appears to be making a rebound, but it remains to be seen if that will carry through...
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NUGT/DUST had too much downside potential, so the system flipped to NUGT. A lot can happen between now and closing, but it would be a rare event to see it flip the other way in the same day when the signal is this strong.

If the system waited until the end of day, DUST could be down much, much further, so it basically acted as a "circuit breaker" and caused the signal to flip.

Sold DUST @ $23.56.

Bought NUGT @ $91.50.

*pulling my hair out*
 
Today I will most likely be going to cash in the NUGT/DUST system. There is no clear momentum in either side, and choppy action is likely to chew up and spit out traders who try to time this just right.

Longer term, with the metals market showing a good recovery, I think there is much more upside potential in NUGT, but there will be many counter-trend rallies along the way, as we're seeing now.

Also, I'm finding it difficult to find the time to watch the markets or make posts about this system in a timely manner.

I'll check in when I can, but for right now, I think this is the prudent thing to do.
 
MrJohnRoss said:
Today I will most likely be going to cash in the NUGT/DUST system. There is no clear momentum in either side, and choppy action is likely to chew up and spit out traders who try to time this just right.

Longer term, with the metals market showing a good recovery, I think there is much more upside potential in NUGT, but there will be many counter-trend rallies along the way, as we're seeing now.

Also, I'm finding it difficult to find the time to watch the markets or make posts about this system in a timely manner.

I'll check in when I can, but for right now, I think this is the prudent thing to do.
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Do you have any hair left? :toung:
 
MrJohnRoss......Today I will most likely be going to cash in the NUGT/DUST system. There is no clear momentum in either side, and choppy action is likely to chew up and spit out traders who try to time this just right.

Longer term, with the metals market showing a good recovery, I think there is much more upside potential in NUGT, but there will be many counter-trend rallies along the way, as we're seeing now.

Also, I'm finding it difficult to find the time to watch the markets or make posts about this system in a timely manner.

I'll check in when I can, but for right now, I think this is the prudent thing to do.
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NUGT is up but on very low volume. I agree with you and from what I've read metals is a good long term play, GDX ETF might be the way to play it. Good volume and much less volatile..
 
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