3 replies to this topic

[IYB]

Just a quick follow up here on trade taken January 31 long UPRO at 68.29: Still holding UPRO {76 area}. Also long DDM, but have taken profits on FAS, QLD, EDC now as we are getting very close to a SS Sell. But still no cigar. Good trading all, D

Again- just following up from the Jan 31 trade of long UPRO at 68.29 as promised when I posted the trade here. Still holding UPRO and other longs as Intermediate Term Trend remains solidly up. Looking for new 2009-2012 highs next week, though for the moment we are very overbought in the very short term and am looking for backing and filling. Sitting tight. Good Trading all, D

When I originally posted this entry for long UPRO on Jan 31, I had promised to follow up until exited. Looking for a pull-back to 1325-1330 area versus SPX, then new 2009-2012 highs shortly thereafter. Sitting tight with UPRO. Stop continues to be a Seven Sentinels Sell Signal. Good trading all. D

This may be about all she wrote for the correction, as breadth has now reversed sharply from yesterday's extreme negative numbers, and the IT trend remains solidly up.

Have been buying UPRO at 68.29 at SS.com, and will follow up that trade here. Our "stop" is a Seven Sentinels Sell Signal.

Good trading all.

Couple of very quick trading notes......Looking for p/b to 1290 (+ or -) area then substantial new highs ahead. I absolutely agree with Fib's point below....

Here is a short term indicator that works on same principle as Selecto's SPX:CPCE MACD indicator, but I flipped over the indicator since it is the "smart money PCR" {oex} version which tends to run opposite the Equity only version. Exact same conclusion, though

http://stockcharts.com/c-sc/sc?s=$SPX:$CPCI&p=D&yr=0&mn=8&dy=0&i=p45138615639&a=255511141&r=987.png

Additionally TRIN and TRINQ on sell for short term:

http://stockcharts.com/c-sc/sc?s=$TRIN&p=D&st=2011-06-30&en=2012-12-31&i=p88125903866&a=225433289&r=841.png

http://stockcharts.com/c-sc/sc?s=$TRINQ&p=D&st=2011-06-30&en=2012-12-31&i=p84399494733&a=225433290&r=961.png

Will add on any decline ahead..., Good trading, D

Btw, we are following up UPRO here only because we reported the trade in real time and promised to follow it up.

---------------------

The rest of our position was taken weeks earlier, but since we did not report the others here at FF, we are following up just the UPRO here. But to put that trade in it's proper context, here's our entire position at SS:

Open Positions: 5% EDC (95.45), 20% FAS (74.38), 20% QLD (88.56), 20% TNA (49.1), 10% UPRO (68.29), 25% Cash

Edited by IYB, 23 February 2012 - 11:02 AM.

[Cirrus]

Great job Don... I find it interesting to see deteriorating internals while the index price levels hold. I wouldn't be surprised to see this as a basing of sorts for one more surge before at least an IT correction. Of course, anything can happen here.

[IYB]

Great job Don...

I find it interesting to see deteriorating internals while the index price levels hold. I wouldn't be surprised to see this as a basing of sorts for one more surge before at least an IT correction. Of course, anything can happen here.

Many thanks Cirrus. I agree- and btw, that's just what Arbman has been predicting. I think he's got it right. Btw, forgot to mention TNA which I popped out on Tuesday's open. Very best, D

[Dex]

Today - S&P up .43% RUT up 1.56% The RUT is back to its recent top of 830ish with a lot of congestion around that area. It was lagging the other indexes over the past few days. As to the currencies - that tend to look for confirmation - euro up but UK, A$ & C$ flat. Treasuries up ------------ Overall a difficult call.