DreamboatAnnie
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Congratulations MrJohnRoss!!!
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MrJohnRoss' Account Talk
- Thread starter MrJohnRoss
- Start date
MrJohnRoss
Well-known member
* NUGT/DUST system looks like it may switch to NUGT if this action continues into the close. GLD, SLV, & GDX are all bucking the downtrend. Stay tuned...
MrJohnRoss
Well-known member
* NUGT/DUST system looks like it's accelerating into the last hour, so we're going for the switch.
Sold DUST @ $39.40 for a slight gain of 0.5%.
Bought NUGT @ $41.96.
Good Luck!
Sold DUST @ $39.40 for a slight gain of 0.5%.
Bought NUGT @ $41.96.
Good Luck!
MrJohnRoss
Well-known member
No changes to the URTY/SRTY system, even though we were down today. Continuing to hold URTY. lf we have a big down day in the next day or two, expect a system switch. Keep in mind it could be a whipsaw trade depending on which way the political winds blow.
jkenjohnson
Active member
U staying in through the debt ceiling debacle?
MrJohnRoss
Well-known member
Staying in the S Fund, as it's looking very strong right now, making new highs, and RSI is not overbought. There's a lot of headline driven news right now, but in the end, IMHO this will all be behind us in the next few days.
MrJohnRoss
Well-known member
Speaking of headline driven news that move the markets, yesterday's NUGT/DUST switch was just that, a head fake. Sold NUGT this morning @ $40.03 for a loss of -4.6%. Bought DUST @ $41.00. There is a risk that things may change before today's close, but I think the risk is greater that equities resume their climb, and metals and miners resume their downtrend.
MrJohnRoss
Well-known member
NUGT/DUST had a switch at the open. Sold DUST @ $35.84 for loss of -12.6%, and bought NUGT @ $45.34. Both the PPO and Stoch are now both heading higher for NUGT. Stoch crossed the 20 line, which many traders use as a buy signal. PPO also had a bullish crossover. The downtrend line for the last month has also been broken.
Keep in mind that there is always the possibility that this market sell-off and PM run up may be very short lived, and NUGT could head right back down.
Keep in mind that there is always the possibility that this market sell-off and PM run up may be very short lived, and NUGT could head right back down.
MrJohnRoss
Well-known member
Another nice day for the markets. Looks like we may have some overhead resistance around the 1740-1745 area for the S&P.
MrJohnRoss
Well-known member
The URTY/SRTY system had a nice gain of 2.45% today, and will continue to hold URTY. System is up 9.1% since the switch one week ago on 10/10.
MrJohnRoss
Well-known member
I trimmed a few weak branches from my portfolio in anticipation of putting the money into the strength of some big movers in the coming days. Just need to keep my eye on the overall market indicators, looking for any signs of an overheated market, but I don't see anything that concerns me at this point.
What I am seeing is more and more companies from China that are filling up my "hot stocks" list. Case in point: VIPS. Three months ago, the stock was around $27. Today it closed at $73.49. That's a 160% gain in just over three months. And that's just one of many.
What I am seeing is more and more companies from China that are filling up my "hot stocks" list. Case in point: VIPS. Three months ago, the stock was around $27. Today it closed at $73.49. That's a 160% gain in just over three months. And that's just one of many.
MrJohnRoss
Well-known member
Well, now we're at or above the resistance line (1740), which may now become a support line. Market was so anxious to go higher it gapped up this morning. Still not overbought according to the RSI, which is currently at 65. In any event, I'm guessing next week may be a time of profit taking, as it's a historically weak week (pun intended), and then we resume higher from there. Someone showed a graph of the S&P forecasting 1800 by year end, but I think we might even go higher than that, possibly 1850.
MrJohnRoss
Well-known member
Here's an update on the S&P divided by the VIX. We got a strong buy signal on Oct 8, but we're now approaching the dreaded upper Bollinger Band. It's been a nice run, but we may be getting close to some "rinse and repeat" action.
MrJohnRoss
Well-known member
Just before the close, and the NUGT/DUST system will stay with NUGT.
The URTY/SRTY system will stay with URTY.
The URTY/SRTY system will stay with URTY.
DreamboatAnnie
Well-known member
Great chart MrJR...never had seen SPX divided by VIX W/ BBs and line colors switching back n forth with up and down swing...nice! Can VIX be used like that with DwCPF/Wilshire 4000?? Yes it does look like time to pull some off table..should have done that today. Will do Monday. I believe some posts by FMW also indicated closing prices starting to form triple peaks that have occurred just before major mkt drops.
MrJohnRoss
Well-known member
For those of you with a higher risk tolerance, here's an opportunity to make 26% in the next few weeks. CNIT closed Friday at $5.06. Chart pattern is looking like it's an excellent set-up, as prices just took a respite from their overbought condition (RSI was upper 80's, and prices extended past the upper BB). Now we've gone down and tested and held at the 50 DMA. Notice the Stoch and PPO are currently heading higher (circled in blue). The Stoch crossed the 20 signal line on Friday, which is a buy signal for many traders. RSI is now at a comfortable 55. If the stock just goes up to the upper BB (currently at 6.39), that's a nice gain of 26.3% from here. I think it will run well past that point.
Good Luck!
Good Luck!
coolhand
Well-known member
jkenjohnson
Active member
I like the set-up too John. Thanks for pointing this one out.
Thanks for the tip. Already up $.50/share (10% or so).
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