MrJohnRoss' Account Talk

[MrJohnRoss]

Picked up some Ambarella (AMBA) this morning at 50.25. Coming out of a nice little dip after hitting the 50 SMA. Once it clears 58, there's no overhead resistance.

IBD ranks it 99 95 99. I like the looks of the PPO, RSI and Stoch.

 

[MrJohnRoss]

Looks like Mr. Market added 40 bp to the S Fund and 38 to the C Fund today.

Hope we can clear the previous highs soon. I'm guessing early January.

 

[MrJohnRoss]

Tomorrow 12/23 is another historically bullish day for the markets, with the Dow, S&P, and Nasdaq all up 71.4% of the time over the last 21 years.

Historically, since 1969, here's how the S&P has performed over the next six days :

+0.10%
+0.32%
+0.27%
+0.04%
+0.20%
+0.05%

The average Santa Claus rally from 12/24 - 1/3 has historically provided a nice total gain of +1.50%.

I'm sure Chief Heisenburg would agree with me when I say, "bring it on".

 

[MrJohnRoss]

More stats: (for you stat junkies, like me :nuts: )

Since 1987, had you bought the Nasdaq Index 3 days before Christmas, and held for eight days, you would have a 25/2 (92.6%) win/loss record, and your average return would have been 3.2% over those eight days.

Sounds like TQQQ should do quite nicely.

 

[MrJohnRoss]

If only this was true. A +935% gain today...



In reality, it's just a reverse split, and the historical data needs to be divided by 10.

 

[MrJohnRoss]

Per CNBC:

The U.S. economy grew at its quickest pace in 11 years in the third quarter, the strongest sign yet that growth has decisively shifted into higher gear. But a separate reading on U.S. factory orders for long-lasting manufactured goods slumped in November, largely due to falling demand for military and defense goods. The Commerce Department on Tuesday revised up its estimate of gross domestic product growth to a 5.0 percent annual pace from the 3.9 percent rate reported last month, citing stronger consumer and business spending than it had previously factored in...

 

[MrJohnRoss]

Drug companies taking a hit today. CELG and GILD are down sharply, which is dragging down the Nasdaq...

 

[pmaloney]

I'm looking at buying some more CELG on this nice down day if it goes a little lower.

I have been shopping recently and have begun to realize what a great buying opportunity that the bottom in October was.

 

[MrJohnRoss]

I'm looking at buying some more CELG on this nice down day if it goes a little lower.

I have been shopping recently and have begun to realize what a great buying opportunity that the bottom in October was.

Very smart of you.

 

[pmaloney]

Thanks! CELG almost down $10.00. I love sitting and watching a fall with my finger on the buy button.

 

[MrJohnRoss]

Here's a 10-minute chart of Achillion Pharmaceuticals (ACHN), which got hammered this morning. Yesterday it was trading as high as 16.87. Just bought in at 11.81, a 30% discount from yesterday's high.

High risk, but potentially high reward. This will probably be a short term trade, depending on how the rally progresses.

 

[pmaloney]

Looks tempting. I have good luck with EXAS. OPK looks like a promising speculative that I wish I had kept.

 

[Birchtree]

Thanks! CELG almost down $10.00. I love sitting and watching a fall with my finger on the buy button.

If you can purchase enough CELG to make a difference, more power to you.

 

[pmaloney]

Every little bit helps Bank walker.

 

[MrJohnRoss]

Bonds are getting hit HARD. F Funders are getting a lump of coal in their stocking.

 

[JTH]

Bonds are getting hit HARD. F Funders are getting a lump of coal in their stocking.

Yeppers, that's a nasty gap down... Should be good news for stocks

 

[ATCJeff]

Bonds are getting hit HARD. F Funders are getting a lump of coal in their stocking.

Can't believe anyone would still be in the F fund heading into rate increases next year.

 

[MrJohnRoss]

Can't believe anyone would still be in the F fund heading into rate increases next year.

... or put another way, not believing in Santa.

Perhaps they view bonds as "safe", when in reality, unless you hold to maturity, there's always interest rate risk.

 

[MrJohnRoss]

Here's a 10-minute chart of Achillion Pharmaceuticals (ACHN), which got hammered this morning. Yesterday it was trading as high as 16.87. Just bought in at 11.81, a 30% discount from yesterday's high.

High risk, but potentially high reward. This will probably be a short term trade, depending on how the rally progresses.

View attachment 31730

ACHN had a very nice gain today of 10.3%. Stalled out at the 38% Fibonacci retracement line. Almost sold it, but decided to hold it through the holiday and see what Friday brings.

 

[MrJohnRoss]

Today's score:

$SPX: -0.01%
$EMW: +0.26%
EFA: +0.45%
AGG: -0.11%

Merry Christmas!