Mar 26 Friday Close: System sell signals in effect. Market either corrects sideway or down over the coming weeks. A mini crash warning is also in effect. (Not P3.) Overbought condition, over valuation, rising yield pressure, extreme optimism, and finally, trend indicators turning down.
In Wall Street speak,” better buying opportunity ahead” lol
Glad you will be around. They don't need me either – it's all about moral support! If the markets rush higher this week, I may be quiet as I will avoid staring at every tick.
Thanks for the words of advice and concern – not presumptuous at all and I appreciate it. I haven't listened to anyone and that has been part of my problem. Basically I did very well in my first year of trading on my own and then I got overly confident and greedy and took way too much risk. I don't believe anyone has all the answers. A lot of this time, I haven't followed my own indicators which has been detrimental. In the end, if I wind up getting lucky enough to make some money back (yes, totally gambling), then I will probably turn my portfolio over to someone I trust.
Congratulations on the new addition! And welcome to the next 18 yrs of homework problems, party problems, and boyfriend/girlfriend problems!! lol
The portfolio problem pales in comparison, in terms of significance. lol
If you are down 43%, then if the market goes from 1163 to 1080, that would most likely to reduce your overall losses from -43% to -31%.
1163 to 1080 is -7%. 3x inverse would translate into +21% more or less, theoretically. In order to recover the -43% drawdown, you need to compound +21% 3 times. It can be done, but certainly not going to be easy.
I do not advise parking in a 3x etfs. You may get lucky. But that is gambling. Trading is a business, not a recreation.
If you cannot actively follow the market, there are several strategies. I am not going to sugar coat this. It should be obvious that the methods you are using have not worked. No offense to all the people you have listened to. But all those forecasts and opinions have landed you in a hole that will take a lot of work just to climb out. It should be obvious that if you are going to listen to any opinion, it has to be from a soure with a verifiable record. If you are going to use a tool or a system or a method, you have to check to see how it deal with the dot com boom and bust, the 2003 bottom, the 2008 crash, and the 2009 bottom. It a method or a system has nothing to show you how it handled those boom and bust, then there is no reason to put any faith in it.
LOL… I like bitching. It's why people read the blog. (It's certainly not my forecasts).
Monica, hang tough.
Red, stop bitching and go short. lol
Mar 26 Friday Close: System sell signals in effect. Market either corrects sideway or down over the coming weeks. A mini crash warning is also in effect. (Not P3.) Overbought condition, over valuation, rising yield pressure, extreme optimism, and finally, trend indicators turning down.
In Wall Street speak,” better buying opportunity ahead” lol
Sundancer, if it gets up to your 1191 by this date, the SPX would form the perfect H&S pattern, starting from the point you mentioned in 2000.
I don't blame you, I wouldn't want to watch every tick either. LOL
Glad you will be around. They don't need me either – it's all about moral support! If the markets rush higher this week, I may be quiet as I will avoid staring at every tick.
Typical week I guess. It's slow at work next week, so I'll be around more… not that you guys need me or anything. LOL
Thanks Red – always enjoy your posts. Hope you had a good weekend. Bracing myself for the week ahead.
Hi SC,
Thanks for the words of advice and concern – not presumptuous at all and I appreciate it. I haven't listened to anyone and that has been part of my problem. Basically I did very well in my first year of trading on my own and then I got overly confident and greedy and took way too much risk. I don't believe anyone has all the answers. A lot of this time, I haven't followed my own indicators which has been detrimental. In the end, if I wind up getting lucky enough to make some money back (yes, totally gambling), then I will probably turn my portfolio over to someone I trust.
Congratulations on the new addition! And welcome to the next 18 yrs of homework problems, party problems, and boyfriend/girlfriend problems!! lol
The portfolio problem pales in comparison, in terms of significance. lol
If you are down 43%, then if the market goes from 1163 to 1080, that would most likely to reduce your overall losses from -43% to -31%.
1163 to 1080 is -7%. 3x inverse would translate into +21% more or less, theoretically. In order to recover the -43% drawdown, you need to compound +21% 3 times. It can be done, but certainly not going to be easy.
I do not advise parking in a 3x etfs. You may get lucky. But that is gambling. Trading is a business, not a recreation.
If you cannot actively follow the market, there are several strategies. I am not going to sugar coat this. It should be obvious that the methods you are using have not worked. No offense to all the people you have listened to. But all those forecasts and opinions have landed you in a hole that will take a lot of work just to climb out. It should be obvious that if you are going to listen to any opinion, it has to be from a soure with a verifiable record. If you are going to use a tool or a system or a method, you have to check to see how it deal with the dot com boom and bust, the 2003 bottom, the 2008 crash, and the 2009 bottom. It a method or a system has nothing to show you how it handled those boom and bust, then there is no reason to put any faith in it.