MrJohnRoss' Account Talk

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Looks like a short term top is in place. Fasten your seatbelts, things are going to get a little bumpy... :blink:
 
The market dove down at the close. Not a good sign. Oscar Carboni is concerned about the Transports, and rightly so. Possible right shoulder forming.

System results:

NUGT was a sell at the close at 46.57. With an entry at 38.21, we had a run-up of 21.9%. Not bad. System buys DUST at 21.63. Be careful of a head fake here.

URTY is at the cusp of a switch, but not quite. Still a hold, down -2.89% today.

Thinking of switching to TNA/TZA for the rest of the signals. What are your thoughts? Seems TNA/TZA are more popular, and like Tom pointed out, they are more liquid, so are more likely to have smaller spreads.

Tomorrow may be a make or break day for the markets. Wish us luck.
 
MrJohnRoss said:
The market dove down at the close. Not a good sign. Oscar Carboni is concerned about the Transports, and rightly so. Possible right shoulder forming.

System results:

NUGT was a sell at the close at 46.57. With an entry at 38.21, we had a run-up of 21.9%. Not bad. System buys DUST at 21.63. Be careful of a head fake here.

URTY is at the cusp of a switch, but not quite. Still a hold, down -2.89% today.

Thinking of switching to TNA/TZA for the rest of the signals. What are your thoughts? Seems TNA/TZA are more popular, and like Tom pointed out, they are more liquid, so are more likely to have smaller spreads.

Tomorrow may be a make or break day for the markets. Wish us luck.
Click to expand...

I'm in the same boat, I've used other ETFs in the past, but I like the reliable data I get from the volume in TNA/TZA.
 
News headline: DUST was a BUST.

The switch was nothing more than a head fake rally yesterday. System sells DUST at 19.34, and buys NUGT at 51.73. Be careful here, NUGT is getting heady here. We might be near a top, although miners are going gangbusters right now. Not every day can be an up day, so expect a pullback sooner rather than later, IMHO.

URTY remains a hold, up a nice +3.07%. It was nice to see the market rebound strongly today. A lot of the stocks I track are looking very good right now, which is a good sign.

Transports need to get above 7325, which is the high of the right shoulder. At 7252 now, so we only need a 1% move to get there. If we can't get above that in short order, we could see some technical selling in the markets. The same can be said of the DJIA, which needs to get above 16,226, which is only 93 Dow points away.

Wish us luck!
 
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Ever walk down a dark street late at night and keep looking over your shoulder because you feel uneasy? Yeah, that's how this market is making me feel. I'm still 100% invested, but I'm not feeling too great about what's going on technically. More signs of weakness keep popping up, and it has me a bit concerned about next week. Stay on your toes ladies and gents.

System results:

NUGT remains a hold, but again, there seems to be indecision on it's direction. Possible spinning top formation, showing indecision, and a loss of -1.33% today. GLD and SLV are at or near overbought levels, and may need to either head down or consolidate before moving higher.

URTY remains a hold, up +0.56% today. It also produced a spinning top formation. There just wasn't much to cheer about in the markets today. Let's hope next week brings some clear direction. I can make money in strong up or down markets, but this indecision is rather unsettling and hard to trade. Perhaps it's time to start taking some chips off the table...

Wish us luck!
 
China Starts to Make a Power Move Against the U.S. Dollar

"Early warnings of a crash are dismissed over and over (“just a temporary correction”). They gradually numb us about the inevitable. Time after time we forget history’s lessons. Until finally a big surprise catches us totally off-guard. Financial historian Niall Ferguson put it this way: Before the crash, our world seems almost stationary, deceptively so, balanced, at a set point. So that when the crash finally hits — as inevitably it will — everyone seems surprised. And our brains keep telling us it’s not time for a crash.
Till then, life just goes along quietly, hypnotizing us, making us vulnerable, till a shocker like Lehman Brothers upsets the balance. Then, says Ferguson, the crash is “accelerating suddenly, like a sports car ... like a thief in the night.” It hits. Shocks us wide awake..."


​
 
MrJohnRoss said:

"Early warnings of a crash are dismissed over and over (“just a temporary correction”)."
​
Click to expand...

I've been spooked since the multiple Hindenburg Omens last year... Miraculously I sidestepped the housing bubble crash, overly cautious may cost some gains but consider the alternative... I got that same uneasy feeling you described above, and add to it some dark shapeless form lurking in the shadows. :worried:
 
Whipsaw said:
I've been spooked since the multiple Hindenburg Omens last year... Miraculously I sidestepped the housing bubble crash, overly cautious may cost some gains but consider the alternative... I got that same uneasy feeling you described above, and add to it some dark shapeless form lurking in the shadows. :worried:
Click to expand...

Staying long and strong. :)
 
Come on baby, get above 16,588 on the Dow! I know it's not gonna happen today, but it sure looks like we're on our way. Trannies need to get above 7591. SPX and COMPQ are above their old highs. Janet must have turned on the pumps.
 
Mr JR i hope your right, since appl has not been following the usual tech pattern or the market for that matter. almost as if it has a completely different mind or game plan of its own. have you been following close? i have a few shares that i have been holding since it was in the low $300 range. i may never sell it. i saw it get up over $700 and held so why sell now?

MrJohnRoss said:
Looks like AAPL is putting in a short term bottoming pattern. Yes! :rolleyes:
Click to expand...
 
GUCHI said:
Mr JR i hope your right, since appl has not been following the usual tech pattern or the market for that matter. almost as if it has a completely different mind or game plan of its own. have you been following close? i have a few shares that i have been holding since it was in the low $300 range. i may never sell it. i saw it get up over $700 and held so why sell now?
Click to expand...

Yessir, since I'm a share holder, I've been keeping tabs. AAPL got a negative rep from a brokerage house, don't remember which one, but they moved it from "outperform" to "neutral". Another article came out saying AAPL was going to turn into a dinosaur like MSFT, and sales of iphones and iPads were sinking the company.

On the other hand, I've read articles on how AAPL is making more and more $$$ on selling from their platforms than any other company on earth. They are also very close to being able to use beacons in stores that will provide incentives and special discounts to shoppers as they walk past an item. The customer might then be able to purchase the item directly from their iphone, which would be a huge money maker for AAPL.

Stay tuned, things could get interesting.

Technically, I got a short term sell signal last Wed, but I'm going to play this for a little bit longer term. Looking at the 60 and 30 minute charts give the impression of a bottoming pattern taking shape. We shall see.

Wish us luck!
 
MrJohnRoss said:
Yessir, since I'm a share holder, I've been keeping tabs. AAPL got a negative rep from a brokerage house, don't remember which one, but they moved it from "outperform" to "neutral". Another article came out saying AAPL was going to turn into a dinosaur like MSFT, and sales of iphones and iPads were sinking the company.

On the other hand, I've read articles on how AAPL is making more and more $$$ on selling from their platforms than any other company on earth. They are also very close to being able to use beacons in stores that will provide incentives and special discounts to shoppers as they walk past an item. The customer might then be able to purchase the item directly from their iphone, which would be a huge money maker for AAPL.

Stay tuned, things could get interesting.

Technically, I got a short term sell signal last Wed, but I'm going to play this for a little bit longer term. Looking at the 60 and 30 minute charts give the impression of a bottoming pattern taking shape. We shall see.

Wish us luck!
Click to expand...

I'm beginning to think I should bail out since things are seeming a bit too good to be true lately lol. I wanted to start March off invested, but it might be best to lock in my gains for the month since they are quite nice already.
 
MaStA said:
I'm beginning to think I should bail out since things are seeming a bit too good to be true lately lol. I wanted to start March off invested, but it might be best to lock in my gains for the month since they are quite nice already.
Click to expand...

You must be doing something right. Noticed that you're number 59 on the autotracker. Yowza.
 
MaStA said:
I'm beginning to think I should bail out since things are seeming a bit too good to be true lately lol. I wanted to start March off invested, but it might be best to lock in my gains for the month since they are quite nice already.
Click to expand...

Stay in, the only way I'm gonna gain some traction is if you folks stay where you're at during the next pullback...:D
 
TSLA printing a shooting star pattern. That's a 100% return from November. Whoa wo, take the money and run!... (Steve Miller Band). :cool:
 
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