I am starting a new thread for the 1st week of June. The following lists my positions as of last Friday:
Long Term - Big troop dolloar amount allocation: TLT 50% cash 50% (no change)
Medium Term - Small troop stock holding: NO POSITION (no change)
If you have any question about short term trading or FX/Futures trading, please PM.
My Trade for last week:
http://perfectew.blogspot.com/2012/05/my-trade-2012-05-w5.html
Bot EDZ from with the fund in my small troop.
ReplyDeleteHi Snowrider, what is the stop for your trade? thanks...
ReplyDeleteWayne - Since that was not a good entry point for a new position. I made that decision because I did not know if the stock market would continue going south. In the worst scenario, this position will need to expose to the risk of no more than 15% loss in stock price per se.
DeleteWe bot some EDZ in morning session today. The following explains my portfolio as of today's close:
ReplyDeleteLong Term - Big troop dolloar amount allocation: TLT 50% cash 50% (no change)
Medium Term - Small troop stock holding: EDZ
The market paused the strong downward movement of last week, bouncing up a little bit from the target of a short term measured move (05/01-09, 05/11-21, and 05/30-today). The price action says that the market has entered into a consolidation. We don't know how long it will take to finish this consolidation, maybe one more day or no more. Tomorrow or Wednesday could be another big slaughtering down day. Again, the stock market's bear run is far from over! DO NOT buy any dip!
PLEASE JOIN MY BLOG AS A FOLLOWER. I WILL PRIVATIZE THE BLOG ONCE WE REACH A SIZEABLE NUMBER OF AUDIENCE. THANKS!
No medium or long term trade today. The following explains my portfolio as of today's close:
ReplyDeleteLong Term - Big troop dolloar amount allocation: TLT 50% cash 50% (no change)
Medium Term - Small troop stock holding: EDZ
The market has been climbing (slowly with light volume) up from yesterday's low in an ABC format. It is still in the consolidation mode. Today's day high, right before the market closed, touched the 0.382 fib ratio of wave-_3 (measured from 05/31/2012's hi to yesterday's lo). I would guess that this wave-_4 correction has finished. Tomorrow could be another big slaughtering down day for the wave-_5, sending the market to below 1250 (specifically to 1235). Again, the stock market's bear run is far from over! DO NOT buy any dip! (Note: This scenario will be void if there occurs a long hollow red candlestick.)
PLEASE JOIN MY BLOG AS A FOLLOWER. I WILL PRIVATIZE THE BLOG ONCE WE REACH A SIZEABLE NUMBER OF AUDIENCE. THANKS!
Just bot FAZ with the fund in my small troop.
ReplyDeleteI have a dentist appointment this afternoon. I will sit in front of the monitor till 12:00 noon. Will talk to you guys when I come back (probably the market is closed by then).
ReplyDeleteJust bot SQQQ with the fund in my small troop.
ReplyDeleteI will buy more EDZ at 12:00 noon at the market.
ReplyDeleteSince I am not monitoring the market this afternoon, I am going to place a stop order to protect my position. I will sell my small troop's holding if the price falls below 05/29/2012's low. Talk to you guys later when I come back.
ReplyDeletethank you for sharing the info! take care.
DeleteWe bot some FAZ, SQQQ, and more EDZ in morning session today. The following explains my portfolio as of today's close:
ReplyDeleteLong Term - Big troop dolloar amount allocation: TLT 50% cash 50% (no change)
Medium Term - Small troop stock holding: EDZ (2 shots), FAZ, SQQQ
The market gapped up above last week's low and surged all the way to market close. In the end, the market closed as a long hollow red candlestick, which was what we (bears) were afraid to see. From here, there could be two scenarios: 1. (bullish view) 06/04/2012 is the head of an Inverse Head-and-Shoulders bottom, or 2. (bearish view) the market is still in the continuation consolidation phase started from 05/18/2012. Here are some possible strategies:
For scenario #1 - After the market hits 1335 area (to form the neckline) and pulls back, establish long position at the right shoulder.
For scenario #2 - Wait for a reversal sign to signal the end of the consolidation phase and to add up the short position.
PLEASE JOIN MY BLOG AS A FOLLOWER. I WILL PRIVATIZE THE BLOG ONCE WE REACH A SIZEABLE NUMBER OF AUDIENCE. THANKS!
Thank you
ReplyDeleteI sold all holdings in my small troop: EDZ (2 shots), FAZ, SQQQ at opening and accept the loss.
ReplyDeleteWait ... my EDZ did not fill because of STOP LIMIT. The opening price gapped down too much, and it is far below my LIMIT price. I am still holding it. ... Nervous now...
DeleteJust bot another shot of EDZ.
DeleteNow my small troop holding is EDZ (3 shots). I will sell them in one of the following two conditions:
Delete1. back to $17 -ish to take small loss (one win, one even, and one loss), or
2. below the gap between 05/14 and 05/14/2012.
Fix the typo of #2 condition:
Delete2. below the gap between 05/11 and 05/14/2012.
I sold my EDZ (all those 3 shots) just now.
ReplyDeleteI'll use the MOC price to buy more TLT with the fund in my big troop.
ReplyDeleteSummary of these few day's campaign:
ReplyDeleteFAZ: -7% of the price range
SQQQ: -4% of the price range
EDZ (1): -12% of the price range
EDZ (2): -2% of the price range
EDZ (3): +5% of the price range
We sold all stock holdings (FAZ, SQQQ, and EDZ) in the small troop to accept the loss. We also bot more TLT in the big troop. The following explains my portfolio as of today's close:
ReplyDeleteLong Term - Big troop dolloar amount allocation: TLT 75% cash 25%
Medium Term - Small troop stock holding: NO POSITION
The market gapped up right below the high of last down wave (05/29/2012's high). That is where the bear needs to protect in order to form another wave down with another lower high (and lower low ...), so ... the open price is the day high of today. As we talked yesterday that the market could take one of two possible scenarios: 1. to form an Inverse Head-and-Shoulders bottom (bullish view), or 2. to form a continuation consolidation area (bearish view). For either way, we should see a pull back from current price level. The actual market direction will be determined by the price action of the pull back.
PLEASE JOIN MY BLOG AS A FOLLOWER. I WILL PRIVATIZE THE BLOG ONCE WE REACH A SIZEABLE NUMBER OF AUDIENCE. THANKS!
Just bot SPXU with the fund in my small troop.
ReplyDeleteWe bot SPXU in the afternoon. The following explains my portfolio as of today's close:
ReplyDeleteLong Term - Big troop dolloar amount allocation: TLT 75% cash 25% (no change)
Medium Term - Small troop stock holding: SPXU
The market had a low open but a high close today. It covered most part of yesterday's price range. One thing noticeable is today's ultra low volume, which implies that the move (today's upward move) is not a real one. We don't know if the market is going to enter a short term consolidation phase (see the scenario #1 in yesterday's post), or the market is going to reverse (see the scenario #2). Wave count:
Scenario #1 - grey line will see a new high that breaks out 1335 (wave-1) and then a pulling back to form right shoulder (wave-2) for a better entry point to establish long position.
Scenario #2 - purple line will see a reversal next Monday (wave-IV.c._5) and then some sharp drops to below 1290 area (wave-V.1) the rest of the week.
PLEASE JOIN MY BLOG AS A FOLLOWER. I WILL PRIVATIZE THE BLOG ONCE WE REACH A SIZEABLE NUMBER OF AUDIENCE. THANKS!