RealMoneyIssues' Account Talk

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Economic Calendar for today:

Producer Price Index 8:30 AM ET
Empire State Mfg Survey 8:30 AM ET

Treasury International Capital 9:00 AM ET

Industrial Production 9:15 AM ET

Housing Market Index 10:00 AM ET

EIA Petroleum Status Report 10:30 AM ET

Just remember, say it with me...

Good news is good for the market...
Bad news is good for the market...
 
RealMoneyIssues said:
Economic Calendar for today:

Producer Price Index 8:30 AM ET
Empire State Mfg Survey 8:30 AM ET

Treasury International Capital 9:00 AM ET

Industrial Production 9:15 AM ET

Housing Market Index 10:00 AM ET

EIA Petroleum Status Report 10:30 AM ET

Just remember, say it with me...

Good news is good for the market...
Bad news is good for the market...
Click to expand...

No reaction from the markets on any of this news, so with the very, very small gap down I expect the gap buyers to step up to the plate and hit another home run...

Tip your hat to the dip buyers!
 
GrandeBabbo said:
First post ever and hope I don't screw this up. I was thinking the same thing. Anyway, this is what I did. On 1 May, I made a move back into the market and the transaction took effect when the markets open 2 May. I went 33% C, 34% S, and 33% I Funds. I have to say I was a little nervous to have that much exposure in this market. But I check and recheck to make sure what I was doing wasn't totally insane. Well it paid off and I’m up 4% since 2 May and well over 12% YTD as of today.

This market is really strange, especially for a May market. F or G Funds, they are worthless. I have one trade left for the month and will just ride it out no matter what, but I won’t be getting out of this market. The “I Fund” is really looking good this week and I think it is really undervalued compared to the S and C Funds. The only thing I might do is consolidate into one fund if I feel trouble on the horizon, but I WILL NOT go to F and G funds. The reason is, the end of May has been historically strong. Also, I want to have 2 trades going into June to exploit it with an in-out-in scenario with a safe heaven G third trade if I need to.
Click to expand...

GrandeBabbo, thanks for gracing my thread with your very first post. I am honored.

Sounds like you are and will be doing great. Come back any time and consider creating your own thread so you can share your wisdom!
 
RealMoneyIssues said:
No reaction from the markets on any of this news, so with the very, very small gap down I expect the gap buyers to step up to the plate and hit another home run...

Tip your hat to the dip buyers!
Click to expand...

jkenjohnson said:
Today looks like it is already heading back up. I'm going to stick my head in the oven!
Click to expand...

Gap down is now filled, lets see if more buyers come in. A quick pop above yesterday's high will signal another boost and buyers will come running...

Time to turn the oven on...
 
If you are a chartist you really have to admire the angle of ascent on the SPX, a beautiful 45 degree angle, very bullish and bottoms above bottoms continues to control the pattern. It seems likely that greed will replace fear as the market's overriding theme in 2013 - get me in at any price. C'mon we're waiting.
 
Birchtree said:
If you are a chartist you really have to admire the angle of ascent on the SPX, a beautiful 45 degree angle, very bullish and bottoms above bottoms continues to control the pattern. It seems likely that greed will replace fear as the market's overriding theme in 2013 - get me in at any price. C'mon we're waiting.
Click to expand...

As you mentioned before, many Moms and Pops are still oblivious to the upper mommentum of this market and will want to get in as more people talk about it. Some Hedge Fund and Mututal Fund managers have cash burning a hole in their pockets and have to get in the market in order to prove to their clients that they are meeting or beating the market averages and getting what they are paying for in premium brokerage fees. I'm staying fully invested for the time being...
 
RealMoneyIssues said:
Gap down is now filled, lets see if more buyers come in. A quick pop above yesterday's high will signal another boost and buyers will come running...

Time to turn the oven on...
Click to expand...

Well, it took awhile, but the buyers came and now we are heading up. Looks like a buy in at high prices, but at least I will be in as the markets continue to go up on QE and Hopium.
 
jkenjohnson said:
C fund's RSI indicates overbought and that is where you are jumping in?
Click to expand...

Actually thinking of going S since it moves more and besides, since when has the market being overbought been an issue? Besides, the market can continue to be overbought more than my account can continue to be solvent...
 
jkenjohnson said:
Sure it can, but it is not the best entry point for someone that wants to get in.
Click to expand...
I see your point. However, when I look at the charts, the entry point is nowhere to be seen. How long do you wait as you watch the markets continue to soar up, up and away? :confused:
 
jpcavin said:
I see your point. However, when I look at the charts, the entry point is nowhere to be seen. How long do you wait as you watch the markets continue to soar up, up and away? :confused:
Click to expand...

I am looking for a pullback of 3-5% (just my general rule of thumb). Not sure it will happen in this market.
 
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