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Whipsaw's Account Talk
- Thread starter Whipsaw
- Start date
Whipsaw
Well-known member
While I'm considering an exit ala FWM, I'll be out of IFTs till Feb (~11 business days). There is a clear support line from today's low to the last to lows that terminates at the top of the nearest gap. There is a chance that we climb back up to Bquat's HH line. Thoughts? Anyone?
JTH
Well-known member
Not that it matters, because as soon as I write this, the markets will find a way to prove me wrong.
I'm not convinced the January low is in, nor that the quarterly low is in. Despite the statistics, I'm also not convinced, the yearly low will be in January, I'm thinking Mid-Feb to early March. The Transports & Russell 2000 has just retraced to 61.8% of the Oct-Jan Fibonacci range. All the same things that were working in 2023 are still working in 2024, large caps/tech rules and everything else gets dumped. Of the Top-10 Apple is kissing it's 21-session lows, and most of the Top-10 are in the red.
A hard and quick flush followed by some consolidated trepidation would be just the thing we need to punch back up through the highs.
How cool is that? 
FireWeatherMet
Well-known member
If unsure you can always take 50% to safety, then wait to see where the trend breaks.
If we get a push to new highs you're still 50% in....if stocks plunge you can quickly exit the other 50%, without total devastation to your portfolio.
That was bold, and good, call by Tom Lee on a day the S&P was in a 3-day pullback and the Russell 200 was making new lows for the year.
I just posted a video of Tom Lee and he believes there will be a meaningful pullback in the first half of the year, but also thinks we could hit a new high before the end of the month first.
Whipsaw
Well-known member
Dang it! I must be trying to do too many things at once. I'm 80% S, 20% C in TSP and the AT, my signature reflects what I thought (or wanted) to do. Now I'm down rather than up. >.<
S put in a lower low, though it looks to be placing a bottoming tail - I can only hope. I may have to re-balance at some point, with one my IFTs. :suspicious:
S put in a lower low, though it looks to be placing a bottoming tail - I can only hope. I may have to re-balance at some point, with one my IFTs. :suspicious:
rangerray
Well-known member
And to think I was going to move out of the S-Fund... I wonder how long this run will last?
Would you please answer your question and let me know before the noon cutoff tomorrow?
Scott Harrison
Senatobia, MS
ravensfan
Well-known member
And to think I was going to move out of the S-Fund... I wonder how long this run will last?
Well, it didn't take long for that question to be answered. :nuts:
Whipsaw
Well-known member
I keep seeing discussion of a pull back or correction, but that it will not be severe, or may be short lived. Is this the start? I think RF made a good move last week, though Friday would have nailed a short term exit. I still need to re-balance, may step aside for a few in the process.
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