Did not get what I wanted

WHAT I WANTED

Can't keep a good upswing down. NYMO up again, VIX down again, 41 of my nifty-fifty stocks gained today and, needless to say, the NYSI continues its rise.

Up into the end of the quarter? "So," as ogm said yesterday, "why the heck not?"

Good luck and good trading, and have a good weekend.



http://stockcharts.com/c-sc/sc?s=$COMPQ&p=D&yr=0&mn=6&dy=0&i=p59707034833&a=269843303&r=1340396912321.png

I wouldn't count on the summation for guidance. I changed my mind about NYSI. In June 2010 start of wave 5 it didn't turn down until the 3rd day and that was with 3 down days in a row. If price can ignore it on the way up why not at least some on the way down ? Price direction is not very clear here, but I'd look for something else. I'd rather trade off NYMO, which has no signal yet.

I wouldn't count on the summation for guidance.

I changed my mind about NYSI. In June 2010 start of wave 5 it didn't turn down until the 3rd day and that was with 3 down
days in a row. If price can ignore it on the way up why not at least some on the way down ?

Price direction is not very clear here, but I'd look for something else. I'd rather trade off NYMO, which has no signal yet.

The NYSI lags turns but when it trends, it trends. And as a guide there are days like yesterday when it looks like the sky is falling and the NYSI says wait a minute maybe it's not. I trade off the NYMO and price in context with the NYSI. By my reckoning the NYMO gave a buy on June 4th and that's still on.

What signal do you use on the NYMO that is not on yet?

Thanks.

I wouldn't count on the summation for guidance.

I changed my mind about NYSI. In June 2010 start of wave 5 it didn't turn down until the 3rd day and that was with 3 down
days in a row. If price can ignore it on the way up why not at least some on the way down ?

Price direction is not very clear here, but I'd look for something else. I'd rather trade off NYMO, which has no signal yet.

The NYSI lags turns but when it trends, it trends. And as a guide there are days like yesterday when it looks like the sky is falling and the NYSI says wait a minute maybe it's not. I trade off the NYMO and price in context with the NYSI. By my reckoning the NYMO gave a buy on June 4th and that's still on.

What signal do you use on the NYMO that is not on yet?

Thanks.

You are trading with an old trend that got damaged yesterday, maybe it works, maybe not.

My style is to go in heavy at turns and leave most of the rest to the trend followers, I don't do as well in the middle because the middle is where
trends often fail without warning.

I'd be happier there was a leading sector in this market. The dividend grind-up can't last forever in the face of forward earnings and peak profits. But follow the charts, as they say, as I posted, cycles should be up, but fundamentals and news will trump them. We came within a fraction of me having to call off the 40 week low. It is amazing how this market is absorbing most news though, but TLT continues to state "Hello, end of world!" Probably, so-called good news will continue to burble out as Euros get their crap together, keeping stocks up this summer. Then earnings season hits...Oops, we're not making any money anymore, sorry! Would line up nicely with cycles...