Whipsaw's Account Talk

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Whipsaw said:
Futures are up this morning on good news / bad news out of Asia and he potential for more easing. JPM saying we're nearing a bottom, but to sell rallies. I like what I'm reading in FS thread from Stockreversals.com, expecting upside, as high as 1990s, then further downside action. I'm in the same boat as Clester, with 1 move left. Try to catch the end of this rally? Can't get in till Wednesday at this point. Ten trading days till March... :notrust:
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So are you thinking about jumping back in?
 
burrocrat said:
or you can buy one in the tsptalk store.

or if you are a betting man, you can proposition me and we can work out a deal if i lose that i will get you one.
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X
how bout this, I bet I won't be proposing to you.... It will be interesting to see what tomorrow brings, it sounds like your getting ready to jump back in, and I'm thinking that I'll be jumping back out, or if things seem ok tomorrow maybe just cut my exposure in half... I'm doing pretty good right now (that reads been lucky with my entries) so I'm looking at capital preservation until the market improves... Just quick in and outs for me, and only with 50% or less...
 
ravensfan said:
So are you thinking about jumping back in?
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I am big-time tempted, would have to have the eject button within reach. It will be 3 solid up days by COB Wed, which would indicate an interim bottom and/or more legs to this rally... The next down trend bottom would have to be in march to catch it...
 
Whipsaw said:
I am big-time tempted, would have to have the eject button within reach. It will be 3 solid up days by COB Wed, which would indicate an interim bottom and/or more legs to this rally... The next down trend bottom would have to be in march to catch it...
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Might not be a bad idea. After Tuesday there are only 9 more trading days left in the month. You can always jump back into the G quickly if things go bad. IMHO.
 
Yes... I was big time tempted this morning as well. But I made decision to not enter. Hope I do not regret that, but seems like it could be easily topped out in a day or so. Also I see that price has bounced away from the 20 EMA resistance intraday so no telling what happens next. Not to say it could not rally later today and tomorrow but thinking to stay on the safety of lily pad to wait for a less risky opportunity. I read that Iran/Iraq may meet with OPEC Wednesday about freezing production (not cutting), but I doubt they will agree to anything more than a freeze....and even that seems doubtful to me. I think Iraq has consistently said they want to increase production as they have not been in the market.. and they now have freedom to ramp it up and make money. Who knows.... no crystal ball here.

Best Wishes to Everyone on your investments!!!!!!!!!! :smile:
 
Whipsaw said:
I am big-time tempted, would have to have the eject button within reach. It will be 3 solid up days by COB Wed, which would indicate an interim bottom and/or more legs to this rally... The next down trend bottom would have to be in march to catch it...
Click to expand...

Well, I'm sitting here watching oil headed down again, and with it the gains of earlier today. That said, what is to keep it from ending the day close to neutral today. I think I'll play it cautious and remain patient for now as this may end up being another quick bounce and then back down we go...

Good luck to all those brave enough to be in today.:smile:
 
DreamboatAnnie said:
Yes... I was big time tempted this morning as well. But I made decision to not enter. Hope I do not regret that, but seems like it could be easily topped out in a day or so. Also I see that price has bounced away from the 20 EMA resistance intraday so no telling what happens next. Not to say it could not rally later today and tomorrow but thinking to stay on the safety of lily pad to wait for a less risky opportunity. I read that Iran/Iraq may meet with OPEC Wednesday about freezing production (not cutting), but I doubt they will agree to anything more than a freeze....and even that seems doubtful to me. I think Iraq has consistently said they want to increase production as they have not been in the market.. and they now have freedom to ramp it up and make money. Who knows.... no crystal ball here.

Best Wishes to Everyone on your investments!!!!!!!!!! :smile:
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Oh... I misspoke... I meant IRAN has consistently.......
 
Markets opened higher, then traded downward, and look somewhat flat at the moment. Oil producers talking of a production freeze, which doesn't fix the current glut; production cuts are needed. Overall still in a down trend. Without digging back through the threads, I think we are at the target S&P levels before heading back down. Not jumping in today; the folks who caught the 2 day may consider an exit. The S fund appears to be climbing at this moment; oil is headed back down. Hmmmmm..... Three solid days of market gains is a good indicator. Lets see what tomorrow brings.
 
Whipsaw said:
100% S COB... May be a short stint, then the lilly pad till March.
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Whipsaw, allow me to post an open question. RE: shorting. When a trader says to wait until the hourly reaches below the upper Bollinger Band before going short -- does this usually refer to placing the SPX setting at the one hour setting and wait until the SPX reaches the upper BB? Anyone? Thanks to all!
 
Onelownismo said:
Crap. I was following you and didn't notice you cancelled. Oh well, I guess I'll see what happens.
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I was basing the move on seeing more upside for tomorrow, possibly Friday, and Clester moving in; recognizing that this run may be closer to the end than the beginning. Then I saw JTH move out, todays action flatting and I stopped short... Oil is up big at the moment, should be more follow through tomorrow. Apologies for the false start, I should be less reactionary.
 
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