Registered User
Joined: 10/7/2004
Posts: 2,181
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Depending upon your trading style and time frames, markets appear to be moving up against resistance. Check your stops and plan accordingly.
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Registered User
Joined: 1/8/2005
Posts: 118
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Thanks for the alert
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Registered User
Joined: 3/29/2005
Posts: 56
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I have two ETF trades that never got filled despite sitting at the bid price all day. But that would seem to indicate that sellers don't want to sell below their ask price, not that they are looking toward the exits. Still, I have been expecting a correction for awhile.
I fired my useless broker yesterday, will be using one of two advisors recommeded by the company I am in the process of moving to. Even their historical performance on the sample portfolio is better, averaging 5% over past 3 yrs at one vs. -1.4% at the old one (slightly different time periods though). The real performance of the former (a real portfolio but not necessarily identical to the proposed sample porfolio) is a good deal lower though, -2.6%, reflecting slippage and delays or imperfections in their asset allocating "timing" model.
The one I will probably use has an ACTUAL -1.4% 3-yr average in their moderately aggressive portfolio, net of fees. They've all done pretty badly recently, LOL.
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Registered User
Joined: 10/7/2004
Posts: 2,181
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Isn't it sad? Many traders on this forum with no formal training average nice double digit returns on their portfolios.
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Registered User
Joined: 12/6/2007
Posts: 48
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QUOTE (Vyrd) I have two ETF trades that never got filled despite sitting at the bid price all day. But that would seem to indicate that sellers don't want to sell below their ask price, not that they are looking toward the exits. Still, I have been expecting a correction for awhile.
I fired my useless broker yesterday, will be using one of two advisors recommeded by the company I am in the process of moving to. Even their historical performance on the sample portfolio is better, averaging 5% over past 3 yrs at one vs. -1.4% at the old one (slightly different time periods though). The real performance of the former (a real portfolio but not necessarily identical to the proposed sample porfolio) is a good deal lower though, -2.6%, reflecting slippage and delays or imperfections in their asset allocating "timing" model.
The one I will probably use has an ACTUAL -1.4% 3-yr average in their moderately aggressive portfolio, net of fees. They've all done pretty badly recently, LOL.
As TD notes ... Why trust your decisions to others ?
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Registered User
Joined: 7/1/2008
Posts: 889
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QUOTE (tobydad)
Isn't it sad? Many traders on this forum with no formal training average nice double digit returns on their portfolios.
"formal" training is a joke. That being said, I'm sure the S&P 500 outperforms many traders on this forum.
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Registered User
Joined: 10/7/2004
Posts: 2,181
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I am not telling anyone to do anything other then to be on guard:
Dow futures down 91
Nasdaq futures down 15
S&P down 10
Hang Seng was up about 75 but is now down 336
Nikkei was down 150 but is now down 247
Market charts are definitely hitting resistance. A pull back would be a great opportunity to ride FAZ, BGZ and some of the ultrashorts for a while and then switch back to some of our power lists.
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Registered User
Joined: 1/28/2005
Posts: 6,049
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"Dow futures down 91
Nasdaq futures down 15
S&P down 10
Hang Seng was up about 75 but is now down 336
Nikkei was down 150 but is now down 247"
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Cool !!!!
Thanks
diceman
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Registered User
Joined: 7/1/2008
Posts: 889
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wow, this market not going down without a fight...
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Registered User
Joined: 1/28/2005
Posts: 6,049
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Im starting to think of Trading Places the movie.
The guys who have been in cash have to buy the GI-Joe with the KungFu grip.
Thanks
diceman
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Registered User
Joined: 10/7/2004
Posts: 2,181
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All major indices must either break through their current resistance trendlines or we can expect imminent retracements (which I would welcome at this point).
A strong up day for FAZ in the next few days would not surprise me at all, In fact, I may enter CBO+1 orders
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Registered User
Joined: 7/17/2009
Posts: 42
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TobyDad, i been expecting the " imminent " too .. got my answer today.
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Registered User
Joined: 10/7/2004
Posts: 2,181
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OK, now I think it's the real one. I'll be entering an order for FAZ in the morning. The potential is enormous.
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Registered User
Joined: 10/7/2004
Posts: 2,181
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Also SRS
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Registered User
Joined: 7/1/2008
Posts: 889
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One or two day bounce higher, then the floor drops...
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Registered User
Joined: 5/1/2007
Posts: 158
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INteresting observation, Ben. You wouldn't happen to have a last name of Bernake? I've been saying:
a) they rang the bell, or
b) Oct 5 is last call.
But FAZ? 3X reminds me too much of options. Painful learning experience.
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Registered User
Joined: 7/1/2008
Posts: 889
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All the PMs were holding the market up until the end of the 3rd quarter to post good numbers, but today, as you can see, they just let it drop.
I think it's overstretched very short term..due for a short bounce back in the next couple days (maybe 5 -10 points in the SPX, tops?)
then it heads lower probably for a more earnest correction. (pure speculation)
Of course I could be wrong, but a few metrics were triggered today that suggest a high probability of a bounce. A high probability does not mean a certainty, however. it's just the odds....around 80% or better.
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Registered User
Joined: 5/1/2007
Posts: 158
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My computer models indicate a trading buy (1-6 days) for JPM MSFT QLD and UYG. and many, many others. But I think it may be early.
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Registered User
Joined: 2/13/2005
Posts: 368
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Tobydad,
I'm with you on FAZ and SRS. I like how the LR30 is acting like a wedge.
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