I found this performance review of McHugh's past predictive statements.  Each statement is quoted along with the market's performance in the subsequent weeks/months.  Notice in the last column there is a small red "+" or "-".   He has a lot more minuses (incorrect prediction) than pluses.

http://www.cxoadvisory.com/3373/individual-gurus/robert-mchugh/

Nice!  Thank you.

okay, I'll be careful.  Thx.

Matt, would you (or Steve) be able to comment on SBUX for a bounce.  I took a small position at 43.82, since it looked like it was turning.  Stop is at 43.59.

I would watch out for a ramp job into the close.  I've seen it before on gap up days where the 60 sto's break below 80% in the afternoon.  

I have noticed that Matt's 5-min chart trade doesn't work for an overnight hold unless the 60 Sto's stay above 80 all day.  So, not sure I will be shorting this today.

thanks for the bump, I'll have a closer look @ the charts.

What do you think about shorting IYT instead of SPY using this approach?  The rationale is the transports have been weaker.  Does that make sense?

I may short a little of either SPY or IYT as a hedge, based on Matt's patented 5 min chart w/ the 60 period stochastics (if over 80% all day).  As Matt mentioned, usually there's a final push higher around 2 or 3 p.m.  So, I will be waiting until then and see.

UPL bouncing off the 50dma.

I did manage to re-short this morning on the move up and close of the gap, watching for it to roll over.  Got it at 137.24, it was falling fast at that point.

For anyone holding it.

Thanks, I took this one.

Thanks.  Was just curious.

KBH breaking to the down side, but no shares to short at IB.

Also, I'm interested to know the idea behind using the EMA's instead of SMA's for XHB.  Thanks -

RT

maybe consider shorting SSO instead of UPRO.

Can you do some follow-up on XHB?  It lost the 20dma this morning, and I'm trying to decide if I want to go ahead and exit out rather than wait for it to lose the 50.

BIG volume on GSVC.  I think I'm late to the party, but bought a small position anyway.

An update on the ratio of up to down volume:  last Friday's ratio showed the most accumulation of stock yet for 2012 (according to Haver's newest chart), which was contrary to Monday through Thursday's weak up/down volume ratio.  So I was wrong to state that the volume as of Friday showed weakness.  Instead, Friday's numbers are showing accumulation - strength.