MrJohnRoss' Account Talk

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Todays gains in CNIT and RBCN have evaporated, but the set-ups still look good to me. Day traders could have scalped some money from these trades, but I think holding on to them for a few weeks will likely lead to some really nice profits. Notice I said "For those of you with a higher risk tolerance..." ? These trades are for your more speculative portions of your portfolio.
 
Just before the close...

NUGT/DUST will continue to hold NUGT. Up about 5.5% today.

URTY/SRTY will continue to hold URTY. Down about 0.5% today.
 
MrJohnRoss said:
Todays gains in CNIT and RBCN have evaporated, but the set-ups still look good to me. Day traders could have scalped some money from these trades, but I think holding on to them for a few weeks will likely lead to some really nice profits. Notice I said "For those of you with a higher risk tolerance..." ? These trades are for your more speculative portions of your portfolio.
Click to expand...


I'm glad I sold for a quick 10% gain yesterday.
 
Still holding NUGT (+13.3%), URTY (+0.6%), CNIT (+2.1%), and RBCN (+1.5%). All in all, not a bad day.

Just a parting note: I think the odds are high that we might see a bit of a sell-off in the markets. If not tomorrow, perhaps in the next few days. Possible shooting star in the S&P, Transports, and Dow.

One final note: I'm heading to Vegas for a few days of R&R, and not likely to have computer access.

Good luck!
 
MrJohnRoss said:
Still holding NUGT (+13.3%), URTY (+0.6%), CNIT (+2.1%), and RBCN (+1.5%). All in all, not a bad day.

Just a parting note: I think the odds are high that we might see a bit of a sell-off in the markets. If not tomorrow, perhaps in the next few days. Possible shooting star in the S&P, Transports, and Dow.

One final note: I'm heading to Vegas for a few days of R&R, and not likely to have computer access.

Good luck!
Click to expand...

As predicted, the markets are selling off this morning, which is not surprising. The obvious question is... do you sell and go to cash?

With only one IFT left for the month, and a full week of trading left in Oct, my inclination is to stay in. Staying fully invested has (so far) been the best strategy this year, but this will eventually change too. The only question is when.

My personal opinion is that Nov, Dec, and Jan are going to be banner months for the markets, due to strong seasonality and political election cycle influences, as well as the $85B/mo. pump from the Fed. So I don't want to miss out on too much of this strong market. Would be nice to sell high (now) and buy low (later), but between the issue of perfect timing and IFT restrictions, it's easier said than done. If you go to cash, and the pullback only lasts a few days, and then goes right back up, you may miss out on some nice gains. If the pullback lasts longer than a week, and goes into Nov, you come out smelling like a rose.
 
NUGT/DUST system will continue to hold NUGT.

URTY/SRTY system is close to a switch, but will continue to hold URTY.
 
NUGT/DUST produced a switch earlier today. I normally wait until near the close of the market to post, but I'm calling this switch early, since it's aleady a strong signal.

Sold NUGT @ 52.76.

Bought DUST @ 28.71.

It was a good run for NUGT, as the buy point on 10/17 was $45.34, and sell point was $52.76, or a gain of 16.3% in 12 days (8 trading days). Let's hope this next wave will be just as kind to DUST.

BTW, I didn't post my results for CNIT and RBCN, but they were both sold yesterday for small losses. Too bad they didn't pan out, but I still think the set-ups were favorable. I should have put stops in place when I went on vacation. Didn't this happen last time I was on vacation??? You'd think I would have learned by now. Doh!
 
I believe the odds are high that we are close to a pullback in the markets. Take a look at the last few times the S&P reached the 70 level on the RSI in May, Aug and Sep. Each time we got to that level, we got a sell-off of (7.5%), (4.9%) and (4.8%). Currently, the RSI is at 70.14. Does that guarantee that we're going to get a pullback tomorrow? No. But I still believe now is not the time to be an aggressive buyer, and the next most likely move for the markets is lower. I've been paring back some of my stock holdings, and will be looking for an opportunity to get back in once the market takes it's normal course of riding the wave back down to another trough. Believe me, I'm still very bullish on stocks, but the market looks like it needs a breather here.


$spx.png
 
No pause until the RSI hits the 80 mark. 2013 may closely follow the pattern of 1998, when stocks rose more than 35% from the October lows through early January 1999. Now wouldn't that be sweet.
 
Now, c'mon Birch, that's not fair. It was just too much of a good tax break for the rich to hide their money in insurance policies. That's why the gubment limited it to the current MEC (Modified Endowment Contract) requirements. I should know, I helped many people max fund their insurance policies this way. I even have an old policy that has a guaranteed minimum 4%, even though it's been paying out 5-6% for years.
 
The SRTY/URTY system will continue to hold URTY. URTY is currently up 14.8% from this up-wave that started on 10/10. Of course, if tomorrow is a big down day, we could lose some of that gain.
 
Thanks, that's an awesome Bearish engulfing candle on Apple with decent volume. Looking at the 15 minute chart, I see potential for another reversal based on the last 3 15min candlesticks in conjunction with the previous 19 Aug 514 top.

Daily
View attachment 25766

15 Minute
View attachment 25767
 
Still convinced we're near a top in the markets, but holding on to my S Fund position. C Fund has been outperforming as of late, so I have though of using my 1 IFT to go to C, or even 50/50 C/S.

In my mind, it's preferable to be in equities at the start of each month, so that way you have two IFT's to go to G, then back to equities, and still have your option to go to G again if necessary. That may be reason enough to hold on for two more days.
 
MrJohnRoss said:
The SRTY/URTY system will continue to hold URTY. URTY is currently up 14.8% from this up-wave that started on 10/10. Of course, if tomorrow is a big down day, we could lose some of that gain.
Click to expand...

SRTY/URTY system switch. Sold URTY @ $76.17. Bought SRTY @ $12.97.

We made 9.8% on the URTY trade. Not bad.
 
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