MrJohnRoss
Well-known member
Here's a pic of where I went for Thanksgiving. Big Sur, CA. Very unconventional, but had a wonderful time. The weather was perfect.
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MrJohnRoss' Account Talk
- Thread starter MrJohnRoss
- Start date
MrJohnRoss
Well-known member
NUGT/DUST system generated a switch at Friday's close to NUGT. You may want to wait to confirm the move tomorrow, but the system would have bought at Friday's close at $32.60.
If you held DUST during the entire last trade, you would have netted +20.5% in eight trading days.
URTY/SRTY system continues to hold URTY.
Keep your eye on VXX. We are close to a short term buy there as well.
If you held DUST during the entire last trade, you would have netted +20.5% in eight trading days.
URTY/SRTY system continues to hold URTY.
Keep your eye on VXX. We are close to a short term buy there as well.
jkenjohnson
Active member
I have been there twice. I like that area, and Carmel and Monterey.
Kaufmanrider
Member
Did you get a chance to eat at the Lucia Lodge? Great fish and chips.
DreamboatAnnie
Well-known member
Just love that area...beautiful. I stayed in Carmel many years ago and had lunch at Mission Ranch. That entire drive along highway 1 down to BigSur is breathtaking!!
MrJohnRoss
Well-known member
We had fish and clam chowder at the Fish Wife, near one of the entrances to 17 mile drive. Was outstanding. We also had chowder at the restaurant at the end of the Monterrey pier, which was very good, and the views were awesome. We'll have to try Lucia Lodge next time.
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MrJohnRoss
Well-known member
I agree, Annie. One of the most beautiful drives on the planet.
MrJohnRoss
Well-known member
Well, hopefully you confirmed today's action before switching to NUGT. The PM's are absolutely getting crushed, along with the miners. DUST is up big, and reverses the previous signal, obviously.
For those of you looking to get into gold and/or silver, your opportunity will soon arrive. Look for a double bottom in GLD (around 115) and SLV (around 17.75). Then probably a dead cat bounce. We're almost there.
URTY/SRTY looks like it's going to switch to SRTY. Maybe the market correction is finally going to show it's face? Mr. VIX is beginning to rear his ugly head. VXX looks to be in the beginning stages of a possible move higher, with the Stoch and PPO providing a bullish crossover.
Yee-haw.
MrJohnRoss
Well-known member
SRTY, DUST, & VXX all doing very well today, as expected. Can't believe it took so long for the market to finally start it's correction, but now that it has, I don't expect any major carnage. It would be healthy to see a "breather" of -5% on the S&P before the year-end Santa Claus rally begins.
MrJohnRoss
Well-known member
"I recently became aware of a fascinating price pattern analog uncovered by legendary technical analyst Tom DeMark. He figured out that the recent pattern of stock price movements looks a whole lot like the lead-up to the 1929 top." ~ Tom McClellan - The McClellan Market Report
DreamboatAnnie
Well-known member
yes Mr Ross.. That is scary ..just when I'm getting up some thoughts of truly jumping all in. :toung:
JimmyJoe
Member
Sure caught my eye. Maybe I'll be vigilant around the 14th of January. However, wasn't October the month it crashed back in ought 29? And is the time period July 2012 to Nov 2013, 16 months, the same as the time period, 16 months, during the rise up to the crash? Chart lines can be accordioned, ie, stretched or compressed. Did catch my eye though.
JimmyJoe
Member
I'm not saying become carefree in January but consider this viewpoint about the chart.
An incredibly misleading chart is warning of a 1929-style market crash – Quartz
MrJohnRoss
Well-known member
Looks like we might be due for a short term bounce, but I'm expecting the market to continue it's sell-off for a while longer.
MrJohnRoss
Well-known member
NUGT/DUST will continue to hold DUST, even though we had a loss today of -8.9%. Not enough to trigger a switch.
GLD and SLV had a very nice bounce off their lows today. This may be a prime time to think about getting into the metals if you don't have any exposure. I think the upside potential is excellent, and the downside is very limited, IMHO.
URTY/SRTY will continue to hold SRTY, with a slight gain today of +0.75%.
VXX fell back -0.77% today, but I would still consider it a hold.
Still waiting for the right time to move back into equities, but I believe we still may have a ways to go. Ideally, I'd like to see the market continue it's slide and work off some of it's froth. The 50 day is at ~1748, so we'd need to sell off about 45 points on the S&P, or about -2.5% just to get back to "average". Would love to see a dip below that before Santa fills our stockings with a nice buying opportunity.
GLD and SLV had a very nice bounce off their lows today. This may be a prime time to think about getting into the metals if you don't have any exposure. I think the upside potential is excellent, and the downside is very limited, IMHO.
URTY/SRTY will continue to hold SRTY, with a slight gain today of +0.75%.
VXX fell back -0.77% today, but I would still consider it a hold.
Still waiting for the right time to move back into equities, but I believe we still may have a ways to go. Ideally, I'd like to see the market continue it's slide and work off some of it's froth. The 50 day is at ~1748, so we'd need to sell off about 45 points on the S&P, or about -2.5% just to get back to "average". Would love to see a dip below that before Santa fills our stockings with a nice buying opportunity.
jkenjohnson
Active member
MrJohnRoss
Well-known member
The metals could be at or near the bottom of their trading range. I would think the upside potential for NUGT is much greater than the downside risk, but with these vehicles, use a healthy dose of caution. The last couple of signals for my system were one day head fakes, so be sure you confirm the move before you trade.
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