Thanks for sharing man

If this is for me, please read my full post. It is that simple for me. No margin calls, or complicated moves otherwise, I use cash. And set amounts for entries. Use a dollar amount or percentage, whatever is comfortable.

I've taught my grandson, he is my new trading partne, and you all here on the site. 

The systems are so simple to follow, I'm frankly lost how this is said to be complicated. 

I run a "dumb program". Enter the trades when it enters, exit when it exits. In between do nothing, don't read news, watch the market, or trade.

My grandson knows how to do it and  he's going on 8. He's says Papa what does the system say to do today? It's that simple. Less is more. 

If I'm already long in one trading system, I stick with it and don't start others. I will add 2nd or 3rd entries in the system I'm using if needed. Everything else is informational to me. 

As said before specialists make money, others typically waste time and money. Master a strategy and stick with it. 

I'd say "as surmised" but I think Steve has the patent on that. Haha 

So I'll just say, pretty happy with the day and think we could push higher to the gap minimum 3,757, maybe even higher. 

That being said, I followed the bear long strategy with multiple entries and had a better cost basis because of my entry prices, so I'll be taking 1/2 off and leaving 1/2 on by the close. 

That's my way of exiting with the bear long system and staying long with the other systems.

Gap magnet at 3,757. Gap master out haha

From my trading/investing journal note: 

Do my actions match the person that I want to be today? Am I behaving according to the strategy I'm using?

If I'm using a strategy that doesn't require watching every tick of the stock market, then I'm free to go back to my life, invest it in my priorities otherwise, and check the market on the close to see if any trade notifications have been sent out. 

Have I defined my priorities today? My plan for today?  If yes, then live accordingly.

XLP I put 95% of my small Roth account here at the new $67.98 52 week low. Just a comically good price for the businesses. Consumer staples. My new average now $68 & change. 

SPX with guarantees of a crash all over the place in the media, doom, and price targets going lower and lower, odds are increasing that a trading rally can unfold at anytime.

Just like it was hard to believe 4,300 could be a swing top, now it's hard to believe something good can happen. Eventually when you pitch to the star hitter, he burns you. 

I got time and willing to take another entry if I'm wrong. The rsi off a demand zone is hilarious here and 8 gaps above now, most recently 3,757 and 4,110. The 5 day and 9 day are stretched. Let's see.

SPX I'm continuing to hold my 2 entries on SPXL (3x etf). Last one was near the close Friday. 

No changes to my long term account allocations. My last sells were at the highs last year, then 4,600s, and most recently 4,300s. Will be looking to replace that inventory with some "wow I can't believe it tested the 9 year moving average" or something in that neighborhood prices, maybe 3,200-3,400s. Guess we will see. 

My eyes perked up seeing the QE 3.2 interested in a position entry, though I know it can take multiple entries, so I'll wait for now since I have trading inventory already on otherwise. 

In other news, I'll be building a T bill ladder soon and may post on that when I do. No limits for purchasing those up to $5 million. I'll be working in the thousands to start out and build. Take advantage of what the conditions are.

SPX First gap is at 3,757.99. The 5 day ma is currently showing around 3,762 on my chart. The 9 day ma is showing at 3,825 or so. Will check back in at the close to see what the market is up to and if there are any alerts. 

I like using this type of signal for long term accounts. Great conditions, stats. If it does trigger at some point, that is how I'll use it. 

SPX at 28 rsi at a major demand zone here. Risk/reward is getting really good for a long side swing. There are a few hundred points above just to get back to the 9 day on my chart. 

By the way, now that we filled all the gaps lower from the June rally...there are 8 gaps total above now. First one at 3,757.99 from yesterday's close. Another at 4,110.41. I'll post all the gaps next week. 

So will the systems take the full second entry? or will you elect to do a half and half like last time?  I guess we will see when you send the trade notification.

XLP I'm back in $69.80s with a decent position against S2 pivot. A 32 rsi here. Collected the dividend yesterday too even though I sold into strength prior. Just had to own it on Sept 20th. I like it now for a swing and would build if it goes lower. This one is for my IRA. Best businesses in the world. Consumer staples. 

Goldman Sachs cuts 2022 target for S&P 500 by 16%

https://finance.yahoo.com/news/goldman-sachs-cuts-2022-target-091339381.html

I commented yesterday on Goldman's timing. Anyone who has been around knows how the game is played. This would have certainly been more helpful for their clients when the market was at 4,500 and more recently 4,300s on that rally into the major averages. I posted my long term holdings adjustments (sells) here at that time. 

The big clue for my strategy to being skeptical that the bottom wasn't in amidst the backdrop was the all the gaps from June. Gaps have saved me so much over the years. Its never different, just the way the business works. All the tv and other stuff is to get people emotional in thinking they missed out. Now we see here it being played the other way, working to get people to sell so it can be bought up and then distributed yet again down the line. The algos and pros run the show. It isn't really as complicated as it is made to seem. 

I've learned over the years to just play by their rules and take what they give. Risk/reward is getting much better as markets look to capitulate. Will be interesting to see if SPX 3,674 gap immediately fills or if there needs to be more grinding beforehand with a trading rally. I added the other half of my SPX position this morning near premarket lows. All the best in whatever strategy you are using today. I'll be checking back near the close. Have a great weekend! 

Thanks Mundy, Sounds like some really great insight you've gained while working on your strategy. I'm glad to hear your having a good year! 

I appreciate you sharing with me and hearing me. I find sharing my plan notes keeps me focused and executing consistently. I relate to less often being more. As is often pointed out here, the reason is because the money is made during certain times of the year. Paying attention on market closes for me and setting a few alerts earns the right to buy and sell in the best conditions when they present themselves. 

It's a great service to get the system notifications. Easy to follow, only trade when notified, and go back to enjoying life. Matt and Steve do a great job.

Today my wife and I did a tour of the Braves baseball park (Truist Park). I got to sit in the dugout, almost called the bullpen haha 

I'm not a daytrader so no need to sit and watch all the ticks. The one resource I have to manage best is time. Time is most valuable and limited. I appreciate you! 

I was glad for your comment last night Matt. I sold the rip in the premarket and just entered again long against 3,750 support on SPX. 

SPX now showing the S2 pivot down at 3,708. Very close to that 3,674s remaining gap.

If this continues and takes time, gotta wonder if earnings pressure is going to cause some dividend cuts. In the same space Intel is yielding over 5% now on the stock. Morgan Stanley has been calling for earnings disappointments and Goldman shared the same sentiments the other day. Not surprising given they (Goldman) are always piling on to either look to buy or sell their inventory. 

Good insight, thanks Steve. I found it interesting that the spreads are still showing as "greedy". Shows just how difficult this kind of market is day to day.