MrJohnRoss' Account Talk

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Was without a computer virtually all day. When I saw what the market did, I about pulled my hair out. Most of my stocks got smashed pretty good. Should have had trailing stops in place. Big mistake. Shoulda woulda coulda. Now I'm going to have to make a decision on whether to sell for large losses, or hold on and hope. My gut tells me we're going to get an oversold bounce here, but I think it may just be a dead cat bounce.

I didn't really use any technical analysis to get back into the S Fund on Oct 1, which was another mistake. The problem with getting out now, is that it will use up my 2nd and last IFT for the month. My guess is that we're going to see more downside for another week or two, but the market will rebound before the end of the month. So I need to decide if I'm going to just hold on and take a big dip, or sell now and not get back in until at least Nov 1.
 
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One of the few bright spots today was yesterday's call on SRTY. up +4.8% today. Expect SRTY to drop tomorrow, but my guess is it will run higher over the next week or so. When they pass the budget, my guess is the market will take off like a rocket and SRTY is going to get slaughtered, so be careful.

SRTY.png
 
The NUGT/DUST system is going to continue to hold DUST, even though we had a mild down day.

The URTY/SRTY system will continue to hold SRTY. Up a little over 1% today.
 
MrJohnRoss said:
One of the few bright spots today was yesterday's call on SRTY. up +4.8% today. Expect SRTY to drop tomorrow, but my guess is it will run higher over the next week or so. When they pass the budget, my guess is the market will take off like a rocket and SRTY is going to get slaughtered, so be careful.
Click to expand...

All it takes is a rumor of getting the gub'ment stalemate solved, and BOOM! Up we go! The tall white candles on the major indices are all very bullish signs. Glad I didn't panic and sell. The URTY/SRTY system is back to holding URTY (current price is 69.35). With a SRTY buy price of 14.60, and a current price of 14.37 (selling early this morning would have produced a better price), you'd sell for about a loss of 1.6% on this trade. This is one of those trades where the market completely blindsides your system, but I'm not going to complain. I'm very glad to see the market rise today.
 
Wow! Dow up 323 points! Now if a debt deal fails, I expect the markets to drop off a cliff. As Harry Reid says... "don't screw this up"!
 
PM's are down hard today. GLD and SLV down 1.5-2%. That means the miners are down even more. GDX down 2.3%. Leveraged NUGT down over 7%. Some people might like to bottom fish here, but the fact is, stocks can go down a lot more than you think they can. I prefer to wait to see a bottoming pattern and then the beginning of an uptrend before buying in. Eventually the metals and miners will return to favor. It's just not their time yet.

NUGT.png
 
We could be setting up for an intermediate blow off top into spring 2014 - a 10% correction would be a blessing. I'm counting on my wife to retire in 2014 so I can take some capital gains and not share that much with Obama and his Obamacare 3.8% tax.
 
Birchtree said:
We could be setting up for an intermediate blow off top into spring 2014 - a 10% correction would be a blessing. I'm counting on my wife to retire in 2014 so I can take some capital gains and not share that much with Obama and his Obamacare 3.8% tax.
Click to expand...

That's very unpatriotic of you, Birch. Don't you know that our new form of gub'ment requires you "welathy people" to sacrifice for the common good? And I think you know what I mean when I say "common good".
 
Had to enter the forum through a round about way due to some glitches in the site. I'm assuming everyone is seeing their forum home screen filled with this:

Warning: date(): It is not safe to rely on the system's timezone settings. Please use the date.timezone setting, the TZ environment variable or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in ..../includes/functions.php on line 4912
 
I did last night but it appears to be working fine this morning. Thanx for mentioning it, though. Timezone is one of the libraries I updated on my Linux box last night so I thought I did it to myself with that update. I'm glad I didn't back out the patch. :D
 
MrJohnRoss said:
Had to enter the forum through a round about way due to some glitches in the site. I'm assuming everyone is seeing their forum home screen filled with this:

Warning: date(): It is not safe to rely on the system's timezone settings. Please use the date.timezone setting, the TZ environment variable or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in ..../includes/functions.php on line 4912
Click to expand...
I saw it with these msgs late last night as well... But this afternoon it's all clear.
 
MrJohnRoss said:
Had to enter the forum through a round about way due to some glitches in the site. I'm assuming everyone is seeing their forum home screen filled with this:

Warning: date(): It is not safe to rely on the system's timezone settings. Please use the date.timezone setting, the TZ environment variable or the date_default_timezone_set() function. In case you used any of those methods and you are still getting this warning, you most likely misspelled the timezone identifier. We selected 'America/New_York' for 'EDT/-4.0/DST' instead in ..../includes/functions.php on line 4912
Click to expand...

I'm all clear now as well, but I wonder what happened. Any ideas, Tom?
 
Going into the final half hour of trading, and the markets are up nicely. When I saw last night's futures, I had a feeling it would turn around. All the markets need is a little whiff of a possible debt settlement, and up she goes.
 
We need a dash of panic buying on the close - it's the sweet smell of superlative bull manure on a fall day to incite the animasl spirits to join the game.
 
A slight down day for the NUGT/DUST system, but will continue to hold DUST.

The URTY/SRTY had a nice gain of 1.4% today. Continuing to hold URTY. The $RUT is at an all time high, but not overbought.
 
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