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sniper's Account Talk
- Thread starter sniper
- Start date
sniper
Active member
Quite! I messed up that one haha, but I did perform well for December. But wow, what a wild ride!
Happy New Year all! I've decided to get active on the autotracker again, so I'll be putting my TSP moves there. Hope it won't bore yall to death, with the TSP I make just a few moves a year on average. Then again the bull market did make buy and hold a pretty damned good strategy until just recently haha.
sniper
Active member
Looking for a short entry soon, but really watching financials (XLF) since that one still seems to be holding strong support.
Been holding TLT for a while and that one's been my top performer haha. It's usually a slow and steady type of holding but it's been putting in consistent green days, and the ride still might not be close to over. Yesterday appears like it broke out of a cup & handle and continued up big today. TLT is a position I take for an intermediate term buy & hold when my system triggers bear market conditions. So I'll likely be holding that for a while more.
Been holding TLT for a while and that one's been my top performer haha. It's usually a slow and steady type of holding but it's been putting in consistent green days, and the ride still might not be close to over. Yesterday appears like it broke out of a cup & handle and continued up big today. TLT is a position I take for an intermediate term buy & hold when my system triggers bear market conditions. So I'll likely be holding that for a while more.
I think you mean resistance, not support, but one thing interesting about XLF today is that it, so far, has not made a lower low below yesterday's low. Of course there's an hour to go and it can still break...
sniper
Active member
I think you mean resistance, not support, but one thing interesting about XLF today is that it, so far, has not made a lower low below yesterday's low. Of course there's an hour to go and it can still break...
Oh haha, I thought resistance was the ceiling and support was the floor. I was watching XLF's 23.5 level since it seems the PPT keeps saving it any time it went below 23.50. But knock against it enough and eventually it'll crack. In any case that 23.5 level is what I was keeping my eye on. Big move down if it can't hold that level.
Mcqlives
Active member
Ditto here. Got about 4 months saved up (saved up as hold-over till retirement payments kicked in for when I pull the plug in 2020). I could maybe stretch it to 6 but will be looking for a new job long before then:blink:
sniper
Active member
SPX is nearing the 2600 level, which should be interesting. I've sat most of this rally on the sidelines since I was fighting off a cold lately. I try to stay away from the market when sick, so I can get my rest without checking what the market is doing lol.
In any case, it looks like the bounce back is looking strong. Expecting resistance at 2600, but depending on what it does there, I'll take a position. For now I'm going to wait to see how it responds at that level.
Not trying to overthink things here, but that area slightly above 2600 was once heavy support, it may be equally heavy resistance. I don't think we shoot above this level without doing a little bit of a dance first
In any case, it looks like the bounce back is looking strong. Expecting resistance at 2600, but depending on what it does there, I'll take a position. For now I'm going to wait to see how it responds at that level.
Not trying to overthink things here, but that area slightly above 2600 was once heavy support, it may be equally heavy resistance. I don't think we shoot above this level without doing a little bit of a dance first
sniper
Active member
Huge volume spike with the last 15m bar, which held and closed slightly above the consolidation area for the last 2 days. Took another bite of some SPXL.
I know the chart looks like a bearish setup (on the dailies, rising wedge running into upper resistance), but part of my reasoning for being bullish is it seems EVERYONE is expecting a drop after hitting the 2626 level. The market has a way of doing the unexpected, I'm thinking it's possible for this to have another run up to 2800
I know the chart looks like a bearish setup (on the dailies, rising wedge running into upper resistance), but part of my reasoning for being bullish is it seems EVERYONE is expecting a drop after hitting the 2626 level. The market has a way of doing the unexpected, I'm thinking it's possible for this to have another run up to 2800
sniper
Active member
You aint kidding.Not that I don't appreciate it, but what just happened?
Looked like a monster short squeeze but as far as news, no idea. I can't find anything atm. Anyway looks like it's fading as quickly, volatility is definitely making a comeback
sniper
Active member
Fake news, eh. Doesn't matter it'll still go up cause it sounds good. That's how things are these days it seems haha.
I sat this one out thinking I was late to the party and hoping we would get a retest of the low. On mornings like today I get up and see the futures in the red and think finally but everyday over the past 3 weeks that has happened the market (except for a couple minor day) ends up in the green.
At this point bad news doesn't matter now that the Fed has went dovish. I think the market chalks bad news be it the shutdown, earning, china (note the market didn't flinch when they came home without a deal) etc off as things are slowing and the Fed will not raise rates and will stop reducing its balance sheet.
Bad news right now means good news unfortunately and I didn't see it earlier and have missed this run. Now is hard to pull the trigger and get in since it has went up so fast.
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