MrJohnRoss' Account Talk

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Markets appear to have turned around and now trending higher. A very shallow pullback indeed. As the old saying goes... "don't fall in love with the downside".

System sold TZA at 14.80, which is a slight loss of -3.3%, and bought TNA at 83.25.

Personally, I bought some big chunks of BIB and TQQQ today, along with CLFD and DATA.

Feels good to be back in the saddle. :)
 
Interesting that I sold $EMW (S Fund proxy) at 1032.86, and bought back in at 1032.65. It was basically a net wash, but one never knows when a downturn is going to turn ugly or just be a little bump in the road up the mountain. Technical analysis can show you where the markets turn, but I've yet to see a system that will tell you how deep the downturn will be. Hmmmm...
 
John Ross,

What are your thoughts on NUGT and DUST trades at this time? In addition, are you on the sidelines with these at the moment?

Thanks in advance!
 
NUGT is following the PM's lower, and even though we've reached short term oversold conditions, it doesn't appear that the selling is letting up. Eventually it will bottom, but for now, DUST is making money. I'm personally holding some GDXJ for the longer term.
 
Are you drifting away from NUGT and DUST and why GDXJ?

What would be the inverse for GDXJ?

NUGT is going for a inverse split April 2, 2014. What would your thoughts be for future trading on this inverse split and what would be the outcome if your in the trade at the time of the split?

(Thanks to RMI for the research on this inverse split on NUGT, TZA and others…)

Thanks!
GEW
 
GEW said:
Are you drifting away from NUGT and DUST and why GDXJ?

What would be the inverse for GDXJ?

NUGT is going for a inverse split April 2, 2014. What would your thoughts be for future trading on this inverse split and what would be the outcome if your in the trade at the time of the split?

(Thanks to RMI for the research on this inverse split on NUGT, TZA and others…)

Thanks!
GEW
Click to expand...

I simply don't have the time to currently time NUGT/DUST properly, so I put the system on hiatus. The inverse splits will have zero effect on my trading decisions. The charts will look identical.

GDXJ should be a good long term hold, as the metals and miners were crushed this last year. A year from now, I'll be wishing I had bought more, but I have to be cognizant of position sizing.
 
Rough week for the metals market. Gold is sitting on the edge of the ledge. If it jumps off, watch out metals and miners, because it's gonna pull you all down.

Friday saw a slight rebound as it kept the 2014 trendline intact, but momentum is to the downside. I hope the trendline holds, but I think we're going down next week.


gld.png
 
GEW said:
Are you drifting away from NUGT and DUST and why GDXJ?

What would be the inverse for GDXJ?

NUGT is going for a reverse split April 2, 2014. What would your thoughts be for future trading on this reverse split and what would be the outcome if your in the trade at the time of the split?

(Thanks to RMI for the research on this reverse split on NUGT, TZA and others…)

Thanks!
GEW
Click to expand...

Ignore/cancel the date of split (past quote above). Sorry! wrong information given from another source...
 
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