Rod's Account Talk

Sort by newest Sort by date
Rod said:
The latest from PPT...

Interestingly, he is convinced that Mr. Market will not revisit the Feb highs for at least another few years. Seems a bit far-fetched. But then again, what do I know. Furthermore, he believes that Mr. Market will decline far beneath the 23 Mar lows.

https://www.youtube.com/watch?v=sTJDavjtbkA&t=828s
Click to expand...

Does he publish his returns? How long has he been around? Not saying he can't be right or that he is a fraud. Just wondering why he gets so many accolades on TSPTalk. Everyone's got an opinion I guess.
 
Happy_Trails said:
Does he publish his returns? How long has he been around? Not saying he can't be right or that he is a fraud. Just wondering why he gets so many accolades on TSPTalk. Everyone's got an opinion I guess.
Click to expand...

I stumbled upon him within the past month. There isn't a whole lot of "intel" on him. Besides for social media accounts, this is about the best you're going to find:

https://www.pivotpoint-trading.com/

https://au.linkedin.com/in/james-farmer-a6083355

I guess one thing you could do is look at some of his videos shortly before the the Dec 2018 sell-off and see how he did with that.

BTW, keep abreast of the recent YouTube video comments. There are some interesting comments as to why he is wrong in his analysis. If he is wrong, I don't think he would admit to it ahead of the market itself proving him wrong because he seems to be dug in with his TA. That can be a dangerous thing, because within the world of investing/trading there is nothing worse than a prideful, stubborn investor/trader who doesn't admit (to themself even) when they are wrong.
 
Yes, he really is making a strong call in the 5/2 video even suggesting that viewers bookmark it for future reference. Not much wiggle room there. Dug in sums it up :)
 
Rod said:
From Friday...

Furthermore, the last candle was on strength for all 3 indices. After today's volatility, hopefully all of that is a good sign leading into next week.

Maybe you can relate with me... very seldom do I make a perfectly timed IFT. (A warning if you follow me!) The last time I did was actually when I IFT'd out of (F) at its all-time high in March. But for equities, I usually seem to be a day early going into them. I was a day early when I attempted to catch that relief rally in late Feb. That scared me into (F) where I recouped 1.78% of those losses.

So, what will Monday bring?
Click to expand...

I'm just happy that the S&P 500 closed above its 50-EMA. Five of the last six candles were green, with the closing candle also being green. If this is the beginning of another leg up (after Friday's 3% haircut), I guess I had to take Friday's brunt in order to get in on the action. But, that action must be at least a 4% increase (overall) to make it worth my while.

We shall see how the rest of the week shapes up.

God Bless :smile:
 
Watching todays action I'm seeing a chance to punch out with little to no losses from last weeks IFT...seems as though a factor in todays uptick are the prospects of states loosening restrictions on quarantine and little else. I'm not finding 'good news' aside from feelings about the easing of restrictions.

I am likely moving back to G today in preparation for another drop due to: re-climbing the curve of infection, mutation of Covid-19, and absence of good news. Might not even recognize last Thursdays "loss".

Thoughts?
 
Add to that Friday's upcoming -21 million jobs report with a 16% - 17% unemployment rate.

You would think that's baked into the prices already, but it could be a reality check for some who think all is well again.
 
tsptalk said:
Add to that Friday's upcoming -21 million jobs report with a 16% - 17% unemployment rate.

You would think that's baked into the prices already, but it could be a reality check for some who think all is well again.
Click to expand...

Very much agreed...further, I don't think those realizations are baked into the prices but they will be the impetus for the upcoming dump. Pretending that all is well again, that's the pump. I'd love a gutcheck if I'm seeing this incorrectly.
 
mdfiasco said:
Watching todays action I'm seeing a chance to punch out with little to no losses from last weeks IFT...seems as though a factor in todays uptick are the prospects of states loosening restrictions on quarantine and little else. I'm not finding 'good news' aside from feelings about the easing of restrictions.

I am likely moving back to G today in preparation for another drop due to: re-climbing the curve of infection, mutation of Covid-19, and absence of good news. Might not even recognize last Thursdays "loss".

Thoughts?
Click to expand...

If I was in the black and did not have losses to make up, I would likely IFT to (G) today in hopes of an up close. But, I still have 2.53% to make up... not to mention the 0.75% I was down prior to my IFT... for a total of 3.28% to make up. If the current trend holds, we could close up at least 1.5%. It's a gamble on my part... but I hope to end the week in positive territory.

Before you make any decisions, check out the latest videos from Pivot Boss (Not to be confused with Pivot Point Trading). Scroll down and make sure you're on the correct day... today:

https://www.tsptalk.com/mb/market-videos/27681-pivotboss-technical-analysis-videos-post639004.html#post639004

God Bless :smile:
 
tsptalk said:
Add to that Friday's upcoming -21 million jobs report with a 16% - 17% unemployment rate.

You would think that's baked into the prices already, but it could be a reality check for some who think all is well again.
Click to expand...

Yeah... Friday will definitely be interesting. Hopefully I can make up my losses before then and comfortably IFT back to (G).
 
Rod said:
Yeah... Friday will definitely be interesting. Hopefully I can make up my losses before then and comfortably IFT back to (G).
Click to expand...

Same, I'm down 2.54%. A punch out would be kneejerk BUT if I follow my gut regarding this early week pump, I'll dump by Thursday at 1159hrs hoping to make up or build that percentage.
 
Whatever happened to "Don't fight the trend?" We are clearly trending up over the last 5 weeks. Sure, reopening the economy might not be strong news, but it's a 180 degree reversal of the news that took us down. I think we have to look on the bright side until the trend changes. An opportunity for like this doesn't come along very often.
 
rangerray said:
Whatever happened to "Don't fight the trend?" We are clearly trending up over the last 5 weeks. Sure, reopening the economy might not be strong news, but it's a 180 degree reversal of the news that took us down. I think we have to look on the bright side until the trend changes. An opportunity for like this doesn't come along very often.
Click to expand...

Of course, the last two weeks have been negative, overall, for the major indices.

But at any rate, that's why I suggested watching Pivot Boss's videos. He makes some good points. Essentially he says,

As of now... S&P's potential upside range: 2950-3000

Then he goes on to say that if it breaks below 2800, then it will fall much lower... possibly to retest the lows.

BTW, the S&P's 200-EMA (2946) will soon be within range again. We're about 53 points from it now.
 
Get that dude off the tube... the more he talks the more Mr. Market sells. I think CNBC times these interviews in a such a way as to influence Mr. Market.
 
Rod said:
Get that dude off the tube... the more he talks the more Mr. Market sells. I think CNBC times these interviews in a such a way as to influence Mr. Market.
Click to expand...

Unless we get a final push the last 15 min, you can blame the rally fizzle on the CNBC interview with the Fed Vice Chair.
 
At any rate, I'm thankful to come away with around 1% of gains today. I'm also thankful that the S&P 500 closed above its 50-EMA again... for the 8th day in a row. We shall see what tomorrow brings.

God Bless :smile:
 
BTW, (compared with yesterday) today we made higher lows and higher highs across the Dow, S&P, and Naz.

Just an observation.
 
You must log in or register to reply here.

Similar threads

TommyIV
July Contest In Progress
Replies
5
Views
2K
TommyIV
TommyIV
TommyIV
  • Article Article
TSP Talk Weekly Wrap Up - Who Bought the Dip?
Replies
0
Views
4K
TommyIV
TommyIV
TommyIV
  • Article Article
Winning Strategies - Lessons from Top TSP Talk AutoTracker Performers in November
Replies
0
Views
318
TommyIV
TommyIV
TommyIV
  • Article Article
TSP Talk AutoTracker - Up 14% for November and Clinging to the S-fund
Replies
0
Views
319
TommyIV
TommyIV
tsptalk
  • Article Article
TSP Talk - The bulls are back
Replies
0
Views
134
tsptalk
tsptalk
Back
Top