jpcavin
Well-known member
Relax, grasshopper. I am holding because I am already in. If I was out, I would be waiting for some confirmation just like Mr Ross is. It's not the time to go back in yet.
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MrJohnRoss' Account Talk
- Thread starter MrJohnRoss
- Start date
Relax, grasshopper. I am holding because I am already in. If I was out, I would be waiting for some confirmation just like Mr Ross is. It's not the time to go back in yet.
MrJohnRoss
Well-known member
I think AAPL may be the "canary in the coal mine" for the markets. Keep your eye on what it does, and you have a pretty good indication of where the market is going. Although it's up only fractionally this morning as I type, it appears to have stopped falling for now. Perhaps we'll have some upward momentum soon... 
Relax, grasshopper. I am holding because I am already in. If I was out, I would be waiting for some confirmation just like Mr Ross is. It's not the time to go back in yet.
Same boat. Just holding the line for now
MrJohnRoss
Well-known member
This does not look healthy for the market:
:blink:
:blink:
MaStA
Member
Now if only our shares of TZA could get back up towards 52 week high of 68.30 we could make some money lol...
Once I see some confirmation (if that is even something you can have in this strange market) I would like to buy some more TZA. Seems every other day is an up day and the other days are a down day. Up, down, up, down, up, down...
Once I see some confirmation (if that is even something you can have in this strange market) I would like to buy some more TZA. Seems every other day is an up day and the other days are a down day. Up, down, up, down, up, down...
RealMoneyIssues
Well-known member
I don't see why not, CNBC is yelling buy, Buy, BUY!!!
MrJohnRoss
Well-known member
Wouldn't that be something! :toung:
I'm not concerned about my short positions. They should pan out very nicely over time.
You might also want to look at SQQQ. It's also a 3X downside leveraged ETF, but based on the Nasdaq 100. Perform your due diligence.
Good luck!
MaStA
Member
Nice! I like watching them for a few days before making a move on them, but I do have 100 free trades that are good for 60 or 90 days with optionshouse so I guess I should start putting them to use lol.
Also, what do you use to determine where you want to sell these short positions? How much percent of a gain are you looking for before selling or are you looking at the main charts for a bullish signal to get out of them?
Thanks!
MrJohnRoss
Well-known member
Not looking for any particular % gain to sell these shorts. I use indicators on the S&P and Nasdaq to time my trades, so whenever they turn positive, I'll sell my short positions.
MrJohnRoss
Well-known member
The Market's Getting a Wedgie / Of Two Minds
"... Since the SPX is risk-on and the dollar is risk-off, then any move in one will likely be reflected in the other. These wedges are nearing the point of decision, so next week might be slightly more interesting than the previous three weeks. ..."
"... Since the SPX is risk-on and the dollar is risk-off, then any move in one will likely be reflected in the other. These wedges are nearing the point of decision, so next week might be slightly more interesting than the previous three weeks. ..."
Of course if people are selling all that AAPL the question becomes...where are they putting the money?
MrJohnRoss
Well-known member
Just for the sake of argument, there is some fair support here near the 50 EMA, which would also fill an open gap - just in time for earnings Tuesday...
Thanks Tom, I respect your viewpoint, and you make a good argument. I just wouldn't place my own money on that bet. Looks terribly weak to me.
Sensei
Well-known member
Sentiment Survey on a fresh buy. Apple fills a gap and possibly bounces. End of April - could be a good time to buy C?
:blink:
Just for the sake of argument, there is some fair support here near the 50 EMA, which would also fill an open gap - just in time for earnings Tuesday...
:blink:
MaStA
Member
I'm moving my stop up on my TZA shares to $20.20 which will make sure it covers at least the commission charges. I'm going to keep bumping my stop up once in a while if it continues to rise. I would prefer to not go back below what I paid for it again. With how the market has been going tomorrow will be an up day (or will it lol).
I will be on the road today taking some people to Wright Patterson AFB for their flight physical yay...long boring drive ahead. lol
I will be on the road today taking some people to Wright Patterson AFB for their flight physical yay...long boring drive ahead. lol
MrJohnRoss
Well-known member
Hope you don't get stopped out too soon. We may have a nice ride on this for a while.
I wouldn't doubt that we'll see the markets rebound tomorrow, but the trend is still down.
Good luck!
MaStA
Member
Thanks for the input. After seeing today even go back into the 20.2X area I think I would be bailing too soon as well. Seems like this may be a bumpy week so I'll let it ride a while longer.
MrJohnRoss
Well-known member
With AAPL looking very weak, which is dragging down the Nasdaq, I'd be very hesitant to put new money to work at this point. I think we have further to drop from here.
MrJohnRoss
Well-known member
This should be a good show....
TONIGHT Frontline Will Premier The First Part of It's Documentary On The Financial Crisis / Business Insider
"... Well the fateful day is here, the first 2 hours of Frontline's new documentary, 'Money Power and Wall Street' airs tonight at 9:00 pm EST on PBS.According to director Michael Kirk, the first two hours will focus on the battle within the Obama administration immediately after the President took office. It was between two camps — the Geithner, 'do-no-harm-to-banks' camp, and another 'wipe-the-banks-out-and-start-again' camp.
"It's a much more complicated problem to rebuild and reform," Kirk told Business Insider. "The crisis never stopped. It's still going and there's no reason to believe it's not imminent." ..."
TONIGHT Frontline Will Premier The First Part of It's Documentary On The Financial Crisis / Business Insider
"... Well the fateful day is here, the first 2 hours of Frontline's new documentary, 'Money Power and Wall Street' airs tonight at 9:00 pm EST on PBS.According to director Michael Kirk, the first two hours will focus on the battle within the Obama administration immediately after the President took office. It was between two camps — the Geithner, 'do-no-harm-to-banks' camp, and another 'wipe-the-banks-out-and-start-again' camp.
"It's a much more complicated problem to rebuild and reform," Kirk told Business Insider. "The crisis never stopped. It's still going and there's no reason to believe it's not imminent." ..."
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