Whipsaw's Account Talk

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I want in but don't want to buy high. After Brexit, the market kept going, which would put us well into new highs; not sure this market has that kind of leggs... ???
 
Whipsaw said:
I want in but don't want to buy high. After Brexit, the market kept going, which would put us well into new highs; not sure this market has that kind of leggs... ???
Click to expand...

It is always difficult to enter the market after a new high has been set. In my experience, a new high is usually followed by a pullback. As an example, the S&P500 hit a new all time high of 2190.15 on 15 Aug. It then fell to 2125.77 on 14 Sep. That's a 65 point drop in just 30 days.

Just a little food for thought.
 
Almost pulled the trigger on Thursday... then I thought let the dust settle after watching a couple of the vids Nnut posted. We'll see soon enough, lots of exuberance out there, apparently business is getting fired up over opportunities coming down the pike in energy, trade, deregulation, lower taxes. But, hey, I'm back on the Top Poster's list! :D
 
Whipsaw said:
Almost pulled the trigger on Thursday... then I thought let the dust settle after watching a couple of the vids Nnut posted. We'll see soon enough, lots of exuberance out there, apparently business is getting fired up over opportunities coming down the pike in energy, trade, deregulation, lower taxes. But, hey, I'm back on the Top Poster's list! :D
Click to expand...

Yeah, this last trade was to say the least brutal for me. I started out on 30 Aug at +2.27%, hit a high of +3.15% on 22 Sep and dropped to a low of -1.21% on 3 Nov. So getting back to +1.45% today at least helped to minimize the loss.

On a positive note, this trade gave me an opportunity to re-evaluate my trading system and I am now going to employ a simple 10/20 SMA crossover strategy. I'm hoping this type of strategy takes the emotions out of my trades and as Oscar Carboni says..."emotions are out...stops are in" :nuts:
 
Futures are down this morning, looking for any weakness to start wading into the market; probably not all at once, some now, some after Turkey day... looking for a healthy Santa Rally this year :D We could be entering a new market where there is greater risk being out than in. Still think there are issues with fundamentals, overvaluation, has the rounded top run its course, oil, china, etc. that make me probably overly cautious.
 
Whipsaw said:
50% S, 50% G COB today. Keeping some powder dry.
Click to expand...

Well yesterday I got the crossovers I was looking for in both the C and S funds. However, todays down action may negate the crossovers. I'll wait to see how we close today and how things go in the morning before taking the plunge. Just want to confirm that the crossovers are legit...

Good luck with your decision to get in today!!! :D:D:D
 
ravensfan said:
Well yesterday I got the crossovers I was looking for in both the C and S funds. However, todays down action may negate the crossovers. I'll wait to see how we close today and how things go in the morning before taking the plunge. Just want to confirm that the crossovers are legit...

Good luck with your decision to get in today!!! :D:D:D
Click to expand...

Thanks RF! Being cautious with the allocation, if we go down I can buy more cheaper ;o)
 
Well it looks like the crossovers were legit as they held yesterday and we look to finish up again today. I really wanted to get in today, but forgot that I had a dental appointment this morning and so no go...boo hiss.:embarrest:

That's ok though. As long as we stay in the channel, we're good to go...so IFT will be submitted on Friday...:nuts:

On the bright side though, dental appointment went well. No cavities, no issues. Good to go for another 6 months.:D
 
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