sniper's Account Talk

[wavecoder]

well the bounce play didn't materialize, if anything, it looks like the markets are breaking down further. bulls just don't want to come out and play, and the market is just drifting downwards, showing no sign of strength at all, sad.

 

[wavecoder]

Sniper, just curious... why is your current allocation S? Looks like the charts are bearish at this stage, in my opinion.

it was a bounce play since the weeklies looked major oversold, when the reading was that low a bounce usually came soon after. was only planning on staying S for about 3 days to catch the dead cat, but looks like it caught me instead.

 

[wavecoder]

I feel there's a major selloff coming in the horizon, but it won't happen until a bounce does. for a panic selloff to happen you need a bounce that will lure more buyers in. the biggest 3 crashes in the last 5 years happened when the market was overbought / leaning overbought. it is currently majorly oversold.

generally when markets crash, the market wants to take as many people down as possible. with buyers currently afraid to buy, bears won't win much by crashing it now.

at least that's my take.

apparently I was wrong, support channel down was broken, and doesn't look like it's going to recover intraday. just ugly, it looks like first solar's chart in 2010. well not that bad

the bounce play wasn't a winner, win some, lose some. i admit i was kinda bottom picking on this one, this is what can happen when you do that haha.

 

[MaStA]

I'm pretty good at losing on all of my TSP trades...don't feel bad.

 

[wavecoder]

I'm pretty good at losing on all of my TSP trades...don't feel bad.

I haven't had the best of luck recently, but it's all good, I sometimes laugh at myself when I'm on the losing end, can't take losses personally, can only learn from them

of course i'd be singing a different tune if i had a ton of cash in the TSP, but I'm still rather new to the federal system. getting smashed doesn't amount to much $$ in my case.

 

[Birchtree]

When you get to be an old guy like me, you'll see investing differently - it's the old guys on the board that have all the money.

 

[MrJohnRoss]

I haven't had the best of luck recently, but it's all good, I sometimes laugh at myself when I'm on the losing end, can't take losses personally, can only learn from them

of course i'd be singing a different tune if i had a ton of cash in the TSP, but I'm still rather new to the federal system. getting smashed doesn't amount to much $$ in my case.

There is a tuition cost to learning to trade well. We all make mistakes. If you learn from your mistakes, and don't repeat them, you will be way ahead of other traders.

Good luck!

 

[wavecoder]

There is a tuition cost to learning to trade well. We all make mistakes. If you learn from your mistakes, and don't repeat them, you will be way ahead of other traders.

Good luck!

that's the plan, get good at this stuff before i run out of years to compound gains

 

[wavecoder]

I want to see a panic selloff and say "I am a proud owner of SPXS shares"

 

[twodaystocks]

I'm holding SPXS as well. I had SDS and FAZ also.

 

[twodaystocks]

CNBC

Did Jesus die for Klingons too? Just one of our many ridiculous gov funded programs. Lmao. Just heard it on CNBC

 

[wavecoder]

Re: CNBC

Did Jesus die for Klingons too? Just one of our many ridiculous gov funded programs. Lmao. Just heard it on CNBC

haven't been watching the news lately, what are they saying? i tend to block out anything related to religion though, i'm not a religious person.

 

[twodaystocks]

I just heard a brief list of programs that got GOVT funding.

 

[wavecoder]

 

[wavecoder]

Here's the bounce we were looking for. 5-day chart showed me a good shorting opportunity on the VIX, which means s&p would likely bounce.

Sold SPXS for +4%, now going SPXL and shorting UVXY

stuck in the G-fund because I jumped the gun too quickly earlier this month, god dangit



looking like it'll test the neckline, might exit if that doesn't hold, but i think it will.

 

[wavecoder]

time for s&p to go birch-mode?

UVXY

 

[wavecoder]

not really brave enough to hold UVXY over the weekend but I already made a pretty sweet return. stop set at 27.80. Still holding SPXL

edit: lowered 27.60
edit: and stopped out there, gained about 5% in a few hours, i love the stock market

 

[wavecoder]

at least romney had the best gangnam style parody

 

[wavecoder]

possible good news for equities, dollar is showing a shooting star and bearish stochastic cross

 

[wavecoder]

nice bounce today. and apple had one hell of a bounce, it's up higher than TNA and SPXL!