MrJohnRoss' Account Talk

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Nice to finally see a big rally for the markets. Finally breathing a sigh of relief.

NUGT/DUST still holding NUGT. Up 3.83% today.

URTY/SRTY is at a crossroads. If we go higher tomorrow, the system likely flips to URTY. SRTY lost -3.51% today and is technically a sell.

VXX/XIV continues to hold VXX, up 0.13% today.

Metals looked good today, but faded at the close. AGQ up +2.72%.

Short term momentum for the market still looks lower, so I'm hoping this is the beginning of a turn-around. Would love to see a Santa Claus rally start a little early this year.
 
Short term momentum is still down for the S&P. Rats.

NUGT/DUST will continue to hold NUGT, but metals and miners didn't do much today. NUGT lost -2.47%.

URTY/SRTY will continue to hold SRTY, up a slight +0.33%.

VXX/XIV still holds VXX,even though VXX had a 0.42% loss.

Looks like the S&P and the 50 DMA might converge soon. What's taking Santa so long?
 
Well, I bought into the S&P on 12/9 when it was at 1808. Today's blast put it at ~1811, so at least I'm not underwater anymore. Is that Santa I hear coming down the chimney?

NUGT/DUST will switch to DUST. Just not a lot of momentum on either side right now, just a lot of churning. Money going into equities means money comes out of metals.

URTY/SRTY switches back to URTY, and VXX/XIV goes back to XIV.

Boom!
 
A flat day for the markets, but metals got slaughtered, especially SLV and AGQ.

DUST did well, +4.9%, so the system will continue to hold.

URTY lost ~2%, but will continue to hold.

XIV was fractionally down, but will also continue to hold.

Looks like the systems are trying to say the market will go higher. The market (S&P) touched the 50 DMA yesterday, so if you've been waiting for that event, this might be as close as you're going to get for a while.

Hoping to have a little more time to post over the next couple of weeks. :nuts:
 
Mele Kalikimaka, JR!

How is your friend doing that had the accident at work? I didn't see any updates on your FB page when I got back from my vacation.
I hope everything is well.
 
konakathy said:
Mele Kalikimaka, JR!

How is your friend doing that had the accident at work? I didn't see any updates on your FB page when I got back from my vacation.
I hope everything is well.
Click to expand...

For those who don't know, one of my co-workers was severely burned in an accident at work last month. He was cutting solid rocket propellant and it ignited. The explosion was large enough to blow the walls and roof off of the building, so you can imagine what that blast would have been like had you been standing in front of it. He's in the hospital burn unit in intensive care, trying to fight off infections to survive. He'll likely remain in intensive care for many more months. It's going to be a long and difficult journey for him.

Thanks for asking.
 
Had some cash that I needed to put to work this morning. Had a hard time finding a stock that wasn't overextended, but finally found BLOX. This would have been a better buy two days ago, but it still looks like the upside potential is much greater than the downside risk.


BLOX.png
 
Taking a step back to look at the weekly S&P 500 for the last three years, you can see that there really hasn't been a meaningful pullback since Sept 2012. Every pullback since has been a very shallow event that only lasted a short time before the market kept escalating up the major trend line that's been in place since Nov of last year. That's why it's been so difficult to time the market this year. Just when you think a pullback has started, the market makes you regret ever getting out.

We all know that the market won't behave like this forever, and each year brings it's own set of unique circumstances and events. Keep your eye on this major trend line. Until it's broken, the market has the upper hand, and it would be wise to stay fully invested while it remains intact.


S&P weekly.png
 
"It is time to raise cash, tighten stop losses, and wait for much more attractive valuations. My bet is that a lot of selling happens during the first week of January – as that will push capital-gains taxes into the next tax year.

If I'm right about where the market is heading, January should be a terrible month for stocks.

Let me be clear. I'm not equivocating: I believe we are on the verge of a massive rout in stock prices. I see U.S. stocks falling at least 50% in terms of valuation between now and the end of next year. Stocks are going to get crushed..."

Porter Stansberry ~ The Stock Market is Going to Crash
 
MrJohnRoss said:
"It is time to raise cash, tighten stop losses, and wait for much more attractive valuations. My bet is that a lot of selling happens during the first week of January – as that will push capital-gains taxes into the next tax year.

If I'm right about where the market is heading, January should be a terrible month for stocks.

Let me be clear. I'm not equivocating: I believe we are on the verge of a massive rout in stock prices. I see U.S. stocks falling at least 50% in terms of valuation between now and the end of next year. Stocks are going to get crushed..."

Porter Stansberry ~ The Stock Market is Going to Crash
Click to expand...

I've read some of his stuff over the years and I think he has always tended to be dramatic.
 
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