711 replies to this topic

[lawdog]

added 10% more to my long position; no reason this market can't run in some bears at the close and finish on HOD.

[lawdog]

spx looks good for another 20-30 pts here, taking it at or above 2300. probably will buy any dips tomorrow. the last six weeks was an internal correction that happened without a decline in the spx.

 

one occurrence today that caught my attention that helped me get long was the dow showing strength even as spx was not doing much before 10:30 est. i thought the market might close at hod but the fact it didnt is probably helpful to the bull case. i dont see how 20k on the dow can be avoided now.

[lawdog]

added 5% more on gap open; now 40% long

[lawdog]

added 10% more to long; now 50% long.

[lawdog]

Still in my 50% long. Don't see a reason yet to call a pullback from here, but of course, a lower opening or a few hours of decline can happen at any time. I don't know if I would buy any dips from here, although an advance of 1.5% - 2% in two days is hardly frothy or excessive, so I will consider adding some more longs. Probably won't post again until morning before opening.

[lawdog]

staying with my 50% long position; see no reason to expect much correction yet. by keeping the spx daily advances moderate, the market does not get ahead of itself, so pullbacks should be small for now. i do believe once this current swing move plays out, the market should provide a 3-5% correction, and the top here, whenever it arrives, could be the high of the year. but if you are successful in catching the swing moves, it doesn't matter at all.

 

if we have another strong day today or friday, i will probably reduce position from 50% to 35% over the weekend. will post any changes in my positions.

[lawdog]

added 10% more in sso etf.

[lawdog]

cut back 10%, down to 50%.

[lawdog]

back up to 60%

[lawdog]

feeling comfortable going into weekend with 60% long. thursday and today appear as normal consolidation, but remain critical and vigilant.