Steve talked about the 1189-1190ish being important and the 38
fib of the entire move from 1347 is at about 1199.
Matt has said that he is looking for a 50% pull back as a good
approximate place for the system to look for a close. Based
upon the current low that would be about 1224.
Posted by dallassteve on 12th of Aug 2011 at 09:49 am
Just my opinion. I'm going to close out most or all of my
SPY shares today. If the market goes higher, I'll accept that
gracefully, and just kick myself a few times.
We have gotten a bounce, not quite up to the 38% retrace.
If it gets there today, so much the better.
The trend is down, and I fear we have not seen the bottom yet.
I'm going to preserve capital.
Just my 2 cents. Disclaimer: my timing usually sucks
I really appreciate all the feedback everyone. This
is nota recommendation, but I'm now considering a
partial exit on Monday, putting a stop in place for the remainder,
and trying to come up with some kind of target.
Posted by Robert50 on 11th of Aug 2011 at 04:08 pm
Stick with it. The changes to the system would have
changed to a buy signal on 8/8, the Renko Charts are pointing up,
and we have some higher lows. I have fallen for this trap
before, selling at the lows when we are at or near a bottom.
No guarantees of course....that why mechanicals help....IMO
If your head is planning games with you look at it this
way: If you sell and the market goes up, you can only blame
yourself. If the market goes down, you can blame the
"system."! LOL
I am guessing we go down tomorrow and higher next week, although
choppy.
Anyone have any justification for
Posted by ascr on 11th of Aug 2011 at 03:59 pm
Anyone have any justification for exiting now? A fraction or the whole she-bang. $118 is looking really good to me after the past week.
Title: ultimately it is up
Posted by jrwbfree on 12th of Aug 2011 at 08:48 am
Steve talked about the 1189-1190ish being important and the 38 fib of the entire move from 1347 is at about 1199.
Matt has said that he is looking for a 50% pull back as a good approximate place for the system to look for a close. Based upon the current low that would be about 1224.
selling today
Posted by dallassteve on 12th of Aug 2011 at 09:49 am
Just my opinion. I'm going to close out most or all of my SPY shares today. If the market goes higher, I'll accept that gracefully, and just kick myself a few times.
We have gotten a bounce, not quite up to the 38% retrace. If it gets there today, so much the better.
The trend is down, and I fear we have not seen the bottom yet. I'm going to preserve capital.
Just my 2 cents. Disclaimer: my timing usually sucks
cant blame ya....whole deal has been a gd disaster...bad enough losing a ton when the mkt is free falling bit
Posted by marketguy on 12th of Aug 2011 at 12:15 pm
I really appreciate all the
Posted by ascr on 12th of Aug 2011 at 08:42 pm
I really appreciate all the feedback everyone. This is nota recommendation, but I'm now considering a partial exit on Monday, putting a stop in place for the remainder, and trying to come up with some kind of target.
Stick with it. The changes
Posted by Robert50 on 11th of Aug 2011 at 04:08 pm
Stick with it. The changes to the system would have changed to a buy signal on 8/8, the Renko Charts are pointing up, and we have some higher lows. I have fallen for this trap before, selling at the lows when we are at or near a bottom. No guarantees of course....that why mechanicals help....IMO
If your head is planning games with you look at it this way: If you sell and the market goes up, you can only blame yourself. If the market goes down, you can blame the "system."! LOL
I am guessing we go down tomorrow and higher next week, although choppy.
Robert50..did Matt say that there would have been a buy signal on 8/8??
Posted by hurricanemalta on 11th of Aug 2011 at 04:11 pm
I'm sure not hurricane....from my
Posted by marketguy on 11th of Aug 2011 at 05:11 pm
I'm sure not hurricane....from my understanding it'll only "buy" when the SPY is over the longer term moving avg (right now we are well below)....
hurricanemalta , the system would have
Posted by Robert50 on 11th of Aug 2011 at 04:16 pm
hurricanemalta , the system would have bought at the close of 8/8 at 112.26. That is about +4%
See his post below.
yep ..gap fill complete on 60 min spy and at 50 period ma on 60 min and bearish shooting star candle on last hour.Exit time..hmm..thinking
Posted by hurricanemalta on 11th of Aug 2011 at 04:05 pm