sniper's Account Talk

[wavecoder]

be careful what you ask for.

at least if the market has direction it's more clear what I have to do

 

[burrocrat]

at least if the market has direction it's more clear what I have to do

are you in or out? i'm 100G so looking for a crash. i hope you just called it in.

 

[wavecoder]

are you in or out? i'm 100G so looking for a crash. i hope you just called it in.

still on the fence right now, but starting to lean bearish. failing to hold above the 20day is telling me this could be a role reversal in the making (looking like resistance vs support)

will make a decision tomorrow before the IFT deadline, I don't know if I'll go 100G but a more defensive position (20S/10C/70G). I've got 27 years till retirement so I tend to always lean toward some risk

 

[burrocrat]

still on the fence right now, but starting to lean bearish. failing to hold above the 20day is telling me this could be a role reversal in the making (looking like resistance vs support)

will make a decision tomorrow before the IFT deadline, I don't know if I'll go 100G but a more defensive position (20S/10C/70G). I've got 27 years till retirement so I tend to always lean toward some risk

if i'm lucky i have 27 years till i'm dead. but i tend to favor risk as well. i got a late start and have some ground to cover yet.

 

[wavecoder]

if i'm lucky i have 27 years till i'm dead. but i tend to favor risk as well. i got a late start and have some ground to cover yet.

dang, well you seem to be doing very well on the autotracker for this year, I could probably learn a thing or 2 from you. cheers!

I'm still relatively new to this and trying to improve my craft. Hopefully at least by mid career I'll be as good as intrepid timer lol

 

[burrocrat]

dang, well you seem to be doing very well on the autotracker for this year, I could probably learn a thing or 2 from you. cheers!l

i would not recommend that strategery. i trade based almost solely on sentiment. when all the good charters are rubbing their hands together because we'll all be gauranteed profits or they start squawking chicken little, then i move the opposite way.

sometimes i get lucky.

cheers.

 

[wavecoder]

market's probably going to be flat and hover in the 13100-13200 range until friday. gonna hold the same position for now

bought some intel at 24.88, stop loss set at 24.49

 

[nnuut]

I like your avatar Sniper, cool!

 

[wavecoder]

thanks

 

[wavecoder]

i never understood how some days S fund has a nice return despite being the DOW being in the red. how does that work?

 

[RealMoneyIssues]

i never understood how some days S fund has a nice return despite being the DOW being in the red. how does that work?

Because the Dow is based on 30 stocks and the S fund is based on 4500 stocks...

 

[wavecoder]

Oscillator moving more toward oversold while the trend is showing higher lows. A drift to the upside may be likely.

Doesn't seem like a wave of optimism is catching on early in the week leading to the fed report, so the likelihood of a major letdown is lessened. Going to hold my position into friday, so help me god

 

[wavecoder]

Because the Dow is based on 30 stocks and the S fund is based on 4500 stocks...

Ok good to know. From what I've read I always got the answer that the S fund followed the Dow, I guess that was incorrect

 

[bmneveu]

Ok good to know. From what I've read I always got the answer that the S fund followed the Dow, I guess that was incorrect

To add to RMI's response a little.. the S fund invests in Small and Mid Cap companies (Wilshire 4500 tracks this best I believe), while the C fund invests in the Large Caps. If I'm watching CNBC, I'll refer to the Russell 2000 for S, and the S&P for C. They aren't exact, but they display those often and they're close enough.

 

[wavecoder]

Thanks guys With that said, I just took a look at the Russell 2000 index and found a nice cup & handle forming on that graph.

closing above 820 could be a good buy opp

 

[Sensei]

hey sniper - there's something called the Dow Completion Index that this site used to use for following the S fund, but there were several occassions of it not matching up, so Tom switched to following the W4500.

By the way, you chart like a boss. Keep it up!

 

[wavecoder]

hey sniper - there's something called the Dow Completion Index that this site used to use for following the S fund, but there were several occassions of it not matching up, so Tom switched to following the W4500.

By the way, you chart like a boss. Keep it up!

thanks!

updated my IFT to lean more toward S fund since small caps are outperforming the S&P. Want to start off september in stocks (unless something forces me to retreat to G within 2 days) so I'll have a chance to retreat and get back in if a short-term buying opportunity presents itself.

90S 5C 2I 1 1 1 L funds

 

[konakathy]

Thanks guys With that said, I just took a look at the Russell 2000 index and found a nice cup & handle forming on that graph.

closing above 820 could be a good buy opp

View attachment 20124

Aloha, Sniper

I'm a student at learning charts and was wondering what is the significance of a 'cup & handle' ?

Mahalo

 

[wavecoder]

Aloha, Sniper

I'm a student at learning charts and was wondering what is the significance of a 'cup & handle' ?

Mahalo

Aloha!

The cup & handle is a bullish continuation pattern, where the chart forms a U shape (or cup for that matter), followed by a consolidation period of up to 1-2 weeks, usually slightly downward, forming the handle. What you get is a chart that looks like a coffee cup. The pattern is completed when the price moves upward again to test the resistance, and breakout is confirmed with a close over the resistance line. It's a good bullish indicator, so whenever you notice this type of pattern, it's a good time to add a stock/etf to your watchlist.

Sometimes it's better to wait it out for the breakout confirmation, depending on your risk tolerance

cheers

 

[wavecoder]

Breakout watch tomorrow for S fund, Russell 2000 Index (RUT) is within striking distance of 820 resistance line (scroll down if you haven't seen the cup & handle chart yet)