MrJohnRoss' Account Talk

[airlift]

SPX 100 EMA (now at 2007.56) seems to be a good point of support, as it has been many times before. Right now we appear to be attempting to hold this level. Perhaps this will hold at least for a bounce. Crossed fingers.

 

[MrJohnRoss]

Here's a chart of the S&P based on the above comments. This market needs to hold in this area or it could spell trouble.


View attachment 31867

The market has not held on to support levels, and continues it's free-fall. I sold off my TQQQ, BIB and CURE, but something held me back from performing an IFT to G. My thinking is we should be getting near a buy point soon, unless we are entering a more severe correction. I'm holding off to see what the rest of today and tomorrow brings.

 

[BichonFreeze]

TMy thinking is we should be getting near a buy point soon, unless we are entering a more severe correction. I'm holding off to see what the rest of today and tomorrow brings.

That's my thinking for entering. I was considering entering yesterday, but a voice in the back of my head say "dooooon't forgetttt Jannnuarrrryyy 2014". So I decided to give it a day, thank goodness I did. We very well may be on another January "correction" that bounces back up in late January like last year.

The only difference is this year there is no QE and oil is nearly half of what it was last year.

If one thing is for sure this is going to be a fun year!

 

[MrJohnRoss]

I bought a while back at $10 and sold around $11 for some quick profit and due to the volatility. I wish I would have hung on to it. I think if stocks go up Nugt will drop IMHO. Are you buying?

I have plenty of exposure already, and don't want to exceed my limits. It is nice to see that portion of my portfolio going up tho.

 

[MrJohnRoss]

The SPX:VIX ratio:

October low: 70.95
December low: 83.70
Currently: 87.51, and dropping like a rock.

I'm targeting the lower Bollinger Band near 78 before we get a bounce.

 

[jkenjohnson]

I have plenty of exposure already, and don't want to exceed my limits. It is nice to see that portion of my portfolio going up tho.

It's even up more now. Do you have a target sell price or are you just gonna ride along for a while?

 

[MrJohnRoss]

It's even up more now. Do you have a target sell price or are you just gonna ride along for a while?

I'll let the market dictate when to sell.

 

[jkenjohnson]

I'll let the market dictate when to sell.

What parameters are you using, assuming you are charting?

 

[MrJohnRoss]

I like to use a combination of indicators; RSI, PPO, Stoch, 5, 20, 50, 200 DMA, BB, as well as looking at hourly, daily, weekly, and monthly charts, to name a few.

 

[MrJohnRoss]

Looks to me like AGG is going to put in a shooting star formation today, which would be a sell signal.

It also looks like the market is possibly staging a recovery, and may be trying to put in a bottoming formation.

Let's see how it looks at the close.

 

[respro]

I like to use a combination of indicators; RSI, PPO, Stoch, 5, 20, 50, 200 DMA, BB, as well as looking at hourly, daily, weekly, and monthly charts, to name a few.

Shame I can only like this once

 

[MrJohnRoss]

Shame I can only like this once

Bwahahahaha! TYVM. :laugh:

 

[respro]

BwahahahahalearnM. :laugh:

No, TYVM! your posts are helping me learn how this fluid puzzle works!
Tyler

 

[MrJohnRoss]

No, TYVM! your posts are helping me learn how this fluid puzzle works!
Tyler

Thanks friend, we're all learning together here. Obviously I made the mistake of not jumping out of equities in late Dec as I watched them go down. Relied too heavily on "Seasonality" and Santa. Shame on me.

Live and learn. Hopefully this is just a short term blip in the road, but it sure feels uncomfortable to see the market tanking while you're fully invested. :blink:

 

[MrJohnRoss]

FWIW, here are the seasonal stats for tomorrow, Wed Jan 7th:

DJIA: 48%
S&P500: 43%
Nasdaq: 52%
R1K: 51%
R2K: 60%

Tomorrow is considered a "Neutral" day.

Take it with a grain of salt, cuz I sure am.

 

[MrJohnRoss]

So far, today's rally is looking good. We need to see a decisive break above 2030 in the S&P today to start to feel comfortable about this rally.

The next target after that would be 2062. One step at a time...

 

[Birchtree]

I'm reminded that the stock market has performed twice as well during dollar bull markets, than during dollar bear markets. New all time highs soon.

 

[jpcavin]

What are your thoughts on ARNA? Even with it's 80% spike today, I still have 33% loss. :nuts:

 

[MrJohnRoss]

What are your thoughts on ARNA? Even with it's 80% spike today, I still have 33% loss. :nuts:

What was today's catalyst? Obviously some very good news.

 

[MrJohnRoss]

So far, today's rally is looking good. We need to see a decisive break above 2030 in the S&P today to start to feel comfortable about this rally.

The next target after that would be 2062. One step at a time...

2030 has now become near-term resistance. This is not a good sign.