All Forum Posts by: Account Closed

Originally posted by Jason Trepins:

I love some volatility...
I'll guess and say we're around 30 days away from poop hitting the fan again.
Hopefully it doesn't break the march lows(I don't care how far it drops myself, but hate to see people get WreCKED)

I am still holding my QID from earlier this week.
It feels scary taking a giant short position with all the stimulus. Some high profile investors are not shorting the market because they think fundamentals are not in play: it's all just asset inflation via stimulus. I will not short financials with our printing press running. At least not yet. Holding the NASDAQ short position has me feeling slightly edgy. But it's fun, today.

Either way the US consumer is toast for a while IMO. No fundamentals there. But once US companies figure out how to better exploit emerging markets they will not care. We will no longer drag the markets down. Ultimately my belief is on U.S stagflation. I will probably play that angle for long term. Some Canadian mining stocks look really nice to hold.

I am undecided on the market going below march lows. But gambling on a short term pull back based on the charts feels ok to me even on the down days so far.

The flowchart on c# gateway application I am developing at work looks so much simpler.

"Bob Prechter "Quite Sure" Next Wave Down Will Be Bigger and March Lows Will Break"

Interesting video clip and read from the Elliot Wave International folks.

http://finance.yahoo.com/tech-ticker/article/299205/Bob-Prechter-%22Quite-Sure%22-Next-Wave-Down-Will-Be-Bigger-and-March-Lows-Will-Break?tickers=^DJI,^GSPC,SPY,DIA,QQQQ,^RUT,BGZ&sec=topStories&pos=9&asset=&ccode=

I have my speculation eyes on a few more double and triple short EFTs.

FAZ is flying this morning. Tempting. But maybe too late.

I like GSP short. Strong resistance going back. I will keep my eye on it.

What parameters do you use for screening? I do not like scottrade's screener. So I've been going to dojispace.com and looking for bearish engulfing candlestick patterns near resistence, and bullish engulfing near support. Then checking the moving averages

Originally posted by MikeOH:

Have you placed a trade for the QID? What did/will you use as an entry point? I think you're right that this could be a good entry, but I'm not sure enough to put money to on it YET.

I went for it @ 26.65.
I do see some red flags with the moving averages and such. Although it looks like the 4 SMA is just about ready to cross the 10 SMA. Going by the bigger moving averages the trade looks bad to me. But this one I don't mind getting stuck in for a month or two if things continue south.

The RSI makes it look set for at least a small bump up. It would (and easily could) have to drop below it's 52 week low to get flagged with my money management rules.

The chart on QID looks interesting. That is 2X shorting the nasdaq

http://finance.yahoo.com/echarts?s=QID#symbol=QID;range=6m

What do you think; Double shorting the nasdaq? That EFT looks like it has tons of upside potential for this upcoming correction.

Interesting article about the RSI on the nasdaq. Another crash coming soon?

http://seekingalpha.com/article/155137-are-stocks-way-overbought?source=article_lb_articles

I have my eye on a China EFT for REITs; TAO. I know it's bubbling up over there, so I am cautious. From a swing trade perspective to go long, the chart looks decent. I haven't pulled the trigger.

I was drawn into this to short stuff, not go long so much.

Ford dropped down to the limit I have for my money management rules to I had to cut it. I didn't trade the chart on that one. So far I've been good at cutting the losers in a disciplined way. I need to improve a lot at keeping the winners.