this was an idea from rp yesterday.

My entry was a bit late this morning, but I'm still up 2.8%.  Thanks, rp

I unloaded my SH and PSQ, as they bounced today, but I'm holding onto IMOS.

marketguy, I'm with you.

I am seeing if the scenario in newsletter chart 9 is going to play out.  If not, I will bail.

rp's comments about the dollar are relevant here. 

Let's see.

Hey Palladin,

There is a lot of argument on this issue.  As for me, I'm looking at this as a buying opportunity for physical gold.  I have more faith in it than in the dollar.  Let the FED do what they will; certainly they will screw everything up bad.

thanks rbreese

This morning I am busy doing other things, so really appreciate the heads-up.

Not a good sign for the bulls.

I held some PSQ over the weekend, but mostly in cash.

Nice chart, rp.  Looks like a perfect backtest to me.

Marco said to look for a short entry today, and this looks like one to me.

Going to buy some PSQ to hold over the weekend, but not so much that I can't sleep.

A lot of systems are getting whipsawed here.

Marco went short on 9/9 and back to cash on 9/14.

Missed the crash completely.

I believe he advises to use a limit order the following day (tomorrow) to look for a better entry.

I use his signals, but I am going to wait on this one and see what kind of bounce we get tomorrow.

of my QQQ short.

Feeling bearish in general, but my oh my what a roller-coaster today!

I have been scaling into TBT, too.  So far, has not worked for me.  I have confidence in the big picture, and this will be a long-term trade.  That gap down was pretty big this AM.  Still, I keep shaking my head watching the chart of TBT.  rp, I assumed you bought more TBT after the gap down today?  This must be the bottom, I keep telling myself.

Holding PSQ through the FED meeting was risky, and I knew it.  There was so much expectation of a pop up.  But the FED does not want to get blamed for this economy, and conflicts are brewing among the FED, Wall Street and Congress, so I expected the FED to do next to nothing. 

Hi rp,

Boy, did that rising wedge play out with a vengeance!  I am short QQQ since 9/15, so not a perfect entry.  Now watching the 50 area you wrote about to see if it holds.

Sure appreciate everyone who is posting regarding longer term trades.

thanks, this is a good read for longer term thinking.

Thanks for the reminder, Steve.

Looks like S2 is lost.  I am short, and watching to see if this weakness continues.

I'm short QQQ and was getting an ulcer this morning.

Your posts help keep me steady.

for the history. I miss rp, will go look up his rant. I'm being very careful, and I certainly expect the next "surprise" to be to the downside.

Thanks for posting your thoughts, Matt. Good to see what you are doing. I scaled into PSQ this AM; lets see what develops from here.

Yes, this is out of the ordinary for Paulenoff.

I'm going to look for a short entry today on one of the market indexes.

I agree that gold is a slam dunk.  It started as a gut feeling for me, ten years ago, but now many think it is obvious.  I trust physical gold in my possession, however.  I trade in and out of GDX.  I now use the GDX mechanical system here.  When there is a good setup in GDX, I will also look at individual miners and see which of them look most promising for a move.  Matt helps out with some ideas.  

sure looks like a bearish H&S to me.  Not perfect shape.  If the right shoulder is going to be symmetrical with the left, we will know by noon tomorrow.

However, renko chart (#37 from newsletter) and the GDX system are both on buy signals.  I'm not ready to short GDX yet.

for your post this morning: target hit 1.618 

I was looking at support levels, but was not watching the 1.6 extension.  

Hit it exactly and reversed.

On the 15 min, there is also a sloppy H&S.  Neckline at 1156, which was lost this AM.  Not putting much credence in this sloppy pattern, but as you say: something to monitor.

I bought a little SDS today as it broke the upper downtrend resistance line on my 15 min chart at 24.42.

Holding until tomorrow, betting against QE3.  Keeping my bet small, however.