42 replies to this topic

[robo]

Toni,

Saw your post an hour ago, but waited until the market closed before answering. No there has not been a 2nd confirmation day. And yes the market rally is under pressure. Today was the 2nd distribution day for the Dow Industrials & S&P500, but not for the Nasdaq. Not sure
about the New York Composit yet. Price has still not undercut Day 1 of rally attempt so system is still on a buy. And still under pressure. I paid $29.87 for my QQQQ's last Thursday and they closed today at $29.92 so I am now up 5 cents a share. If the Dow Industrials close tomorrow below the close of Day 1 of rally attempt I will exit position on Friday. Can only wait & see. Close below 8000 today in Industrials was not really decisive in my opinion. Might be over 8000 again tomorrow night.

Charles

Thanks Charles, and please keep us up to date. I went long on Groundhog Day 2 Feb at the close and I'm holding for now. I have a very recent buy signal from a guy that made around 14% in 2008. No system can ever be 100% correct - but I sure don't like being short when he goes long. Paid service - so I can't give name or date he went long. I'm also watching your IBD signal and appreciate your posts since I'm close to retirement. Take care and throw another log on the fire.

Robo

[tuffy88]

robo---I think it has been a rough time (2008 & so far in 2009) for any system. Right now the IBD system is hanging by a thread. So we just wait and see what happens now. Another day like today would signal an exit. Then I would move back to SHY.(1-3 Year Treasury) But I will wait and see what happens. Still on a VERTY small profit from the trade tonight. gosh luck. Charles

[toni]

Talk about can't break 8000. Here we are up above 8000 again. I am in the teachers lounge in my high school. Just finished teaching a class in senior English. Six other teachers here with me. You have a lot of fans here. Toni