Let's try this again. The market is headed up, so I'm 100% in the C Fund. The drop into March 16 was a head fake. The trend changed from down to up, particularly when the market rose above the 13-day and 50-day moving averages. I'm long for now, particularly given that we are at the end of the month. Let's see how the next two weeks develop.
Standard Disclaimers
1. This blog is for educational purposes only.
2. None of the individuals associated with the Las Vegas TSP Investment Club are registered financial advisors.
3. This blog is not an offer to the public to buy or sell any stocks, options, commodities or futures.
4. You are encouraged to do your own due diligence and to consult with a professional financial advisor before making any investment decision.
5. This blog cannot take responsibility for the results of your investment and trading decisions.
Tuesday, March 29, 2011
Sunday, March 20, 2011
1306 - 1273
We were in the C Fund from 1306 to 1273 on the S&P 500 Index. I suspect the market has more work to do on the down side. I hold this belief for several reasons:
1. The 13-day moving average on a weekly chart has been breached. The 50-day and 200-day moving averages are converging at the 1170 level, so this would be a natural level of support for the markets. These support levels should act as magnets and draw the market down towards the 1170 level.
2. We are in a down trend. The down trend has been in existence since Friday, February 18, 2011. Until the trend changes, the trend is your friend. And the trend is down.
3. The MACD lines are open and pointing downward. The lines show no sign of reversing. This condition reinforces my belief that the down trend will continue until late May.
4. Normally, it would be a signal to go long if there appears to be positive divergence between the MACD histogram and price action. I see no indication of any positive divergence at this point.
5. Finally, the stochastic has not dropped into oversold conditions on a daily chart.
For these reasons, I believe that stepping out of the market @1273 on Thursday will prove to be a wise move by the time May comes around. The probabilities do not favor new highs right now. Instead, we are more likely to see a very good buying opportunity in late May.
Have a great Sunday!
Wink
Standard Disclaimers
1. This blog is for educational purposes only.
2. None of the individuals associated with the Las Vegas TSP Investment Club are registered financial advisors.
3. This blog is not an offer to the public to buy or sell any stocks, options, commodities or futures.
4. You are encouraged to do your own due diligence and to consult with a professional financial advisor before making any investment decision.
5. This blog cannot take responsibility for the results of your investment and trading decisions.
1. The 13-day moving average on a weekly chart has been breached. The 50-day and 200-day moving averages are converging at the 1170 level, so this would be a natural level of support for the markets. These support levels should act as magnets and draw the market down towards the 1170 level.
2. We are in a down trend. The down trend has been in existence since Friday, February 18, 2011. Until the trend changes, the trend is your friend. And the trend is down.
3. The MACD lines are open and pointing downward. The lines show no sign of reversing. This condition reinforces my belief that the down trend will continue until late May.
4. Normally, it would be a signal to go long if there appears to be positive divergence between the MACD histogram and price action. I see no indication of any positive divergence at this point.
5. Finally, the stochastic has not dropped into oversold conditions on a daily chart.
For these reasons, I believe that stepping out of the market @1273 on Thursday will prove to be a wise move by the time May comes around. The probabilities do not favor new highs right now. Instead, we are more likely to see a very good buying opportunity in late May.
Have a great Sunday!
Wink
Standard Disclaimers
1. This blog is for educational purposes only.
2. None of the individuals associated with the Las Vegas TSP Investment Club are registered financial advisors.
3. This blog is not an offer to the public to buy or sell any stocks, options, commodities or futures.
4. You are encouraged to do your own due diligence and to consult with a professional financial advisor before making any investment decision.
5. This blog cannot take responsibility for the results of your investment and trading decisions.
Thursday, March 17, 2011
Move 100% to the G Fund
The market is bouncing. Today should be an up day. My recommendation is to sell into strength.
I am 100% in the G Fund. Barbara has received her e-mail.
Market conditions are very volatile, given the events in Japan. I have seen this movie before. A healthy market is quiet and just keeps going up with minor pullbacks. Remember how the market acted in September and October of 2010? We had a steady climb with the market making higher highs seemingly every day. Those are great conditions for the C Fund. However, when the market changes and goes through a transition, we see the volatility increase. Yesterday was a case in point. A Bull Market shrugs off bad news. A Bear Market doesn't. In the morning yesterday, some faceless EU guy made a comment and the market dropped within ten minutes to the previous day's low. That behavior is of a market changing its character.
It also struck me with great force that the market dropped yesterday to 1249. 1249 represents the lower trend line of a broadening top pattern. It meant a high risk of lower prices ahead after Friday. I was not willing to take that chance.
Unfortunately, once you are caught in a downdraft, the best thing to do is to sell into strength because no one can say how far the market might drop the next time around. Hoping for the market to turn around is not a plan. Selling into strength is a plan. The great trader Marty Schwartz once said that you must take action if you are taking enemy fire. You can't freeze up. Similarly, the S&P 500 Index has dropped from 1344 on February 18 to 1244 yesterday. That is enemy fire. It is time to take action. Another sign was March 1. The market had been going up every first of the month. But on March 1, the market dropped. When the market changes its behavior, this is another sign that the market is changing.
Anyway, I am happy to be out. It's a good time to just step aside and let the market do it's thing.
I also remain convinced that late May will offer the buy opportunity of the year. If the market reaches a good low in late May, then we will be able to beat the S&P by year's end with ease.
I also expect a market low on Tuesday, March 22, 2011.
Standard Disclaimers
1. This blog is for educational purposes only.
2. None of the individuals associated with the Las Vegas TSP Investment Club are registered financial advisors.
3. This blog is not an offer to the public to buy or sell any stocks, options, commodities or futures.
4. You are encouraged to do your own due diligence and to consult with a professional financial advisor before making any investment decision.
5. This blog cannot take responsibility for the results of your investment and trading decisions.
I am 100% in the G Fund. Barbara has received her e-mail.
Market conditions are very volatile, given the events in Japan. I have seen this movie before. A healthy market is quiet and just keeps going up with minor pullbacks. Remember how the market acted in September and October of 2010? We had a steady climb with the market making higher highs seemingly every day. Those are great conditions for the C Fund. However, when the market changes and goes through a transition, we see the volatility increase. Yesterday was a case in point. A Bull Market shrugs off bad news. A Bear Market doesn't. In the morning yesterday, some faceless EU guy made a comment and the market dropped within ten minutes to the previous day's low. That behavior is of a market changing its character.
It also struck me with great force that the market dropped yesterday to 1249. 1249 represents the lower trend line of a broadening top pattern. It meant a high risk of lower prices ahead after Friday. I was not willing to take that chance.
Unfortunately, once you are caught in a downdraft, the best thing to do is to sell into strength because no one can say how far the market might drop the next time around. Hoping for the market to turn around is not a plan. Selling into strength is a plan. The great trader Marty Schwartz once said that you must take action if you are taking enemy fire. You can't freeze up. Similarly, the S&P 500 Index has dropped from 1344 on February 18 to 1244 yesterday. That is enemy fire. It is time to take action. Another sign was March 1. The market had been going up every first of the month. But on March 1, the market dropped. When the market changes its behavior, this is another sign that the market is changing.
Anyway, I am happy to be out. It's a good time to just step aside and let the market do it's thing.
I also remain convinced that late May will offer the buy opportunity of the year. If the market reaches a good low in late May, then we will be able to beat the S&P by year's end with ease.
I also expect a market low on Tuesday, March 22, 2011.
Standard Disclaimers
1. This blog is for educational purposes only.
2. None of the individuals associated with the Las Vegas TSP Investment Club are registered financial advisors.
3. This blog is not an offer to the public to buy or sell any stocks, options, commodities or futures.
4. You are encouraged to do your own due diligence and to consult with a professional financial advisor before making any investment decision.
5. This blog cannot take responsibility for the results of your investment and trading decisions.
Wednesday, March 16, 2011
The Character of the Market Has Changed -Broadening Top Pattern
Blame it on the earthquake, tsunami and nuclear reactor fears in Japan but the character of the market has changed.
In my last post, I said it was too late to panic. Now it's about the right time to panic!/smile.
Seriously, I'm in capital preservation mode. The S&P 500 Index touching 1249 this hour meant the completion of a broadening top pattern. So, that means lower prices are ahead. I don't plan to stick around and find out how low the market can go.
The plan is to move 100% from the C Fund to the G Fund on Friday. We should see a bounce up to 1280ish on the S&P 500 Index by Friday. That is the last, best chance to sell for awhile.
Later,
Wink
Standard Disclaimers
1. This blog is for educational purposes only.
2. None of the individuals associated with the Las Vegas TSP Investment Club are registered financial advisors.
3. This blog is not an offer to the public to buy or sell any stocks, options, commodities or futures.
4. You are encouraged to do your own due diligence and to consult with a professional financial advisor before making any investment decision.
5. This blog cannot take responsibility for the results of your investment and trading decisions.
In my last post, I said it was too late to panic. Now it's about the right time to panic!/smile.
Seriously, I'm in capital preservation mode. The S&P 500 Index touching 1249 this hour meant the completion of a broadening top pattern. So, that means lower prices are ahead. I don't plan to stick around and find out how low the market can go.
The plan is to move 100% from the C Fund to the G Fund on Friday. We should see a bounce up to 1280ish on the S&P 500 Index by Friday. That is the last, best chance to sell for awhile.
Later,
Wink
Standard Disclaimers
1. This blog is for educational purposes only.
2. None of the individuals associated with the Las Vegas TSP Investment Club are registered financial advisors.
3. This blog is not an offer to the public to buy or sell any stocks, options, commodities or futures.
4. You are encouraged to do your own due diligence and to consult with a professional financial advisor before making any investment decision.
5. This blog cannot take responsibility for the results of your investment and trading decisions.
Tuesday, March 15, 2011
Crash Conditions
Well, first my heart and prayers go out to the people in Japan. I wish them well as they struggle with rebuilding their country.
As you probably know, the market reacted badly to the news in Japan. The overnight futures are way down.
What to do?
It is too late to panic. We are caught in the downdraft like most of the planet. Also, the trend has changed from up to down. The market is always a risky place. Q: Who could have predicted a 9.0 earthquake followed by a tsunami followed by a possible meltdown at multiple nuclear reactors? Not me.
Anyway, the point here is that the globe is in panic mode. These times are the worst times to sell in hindsight. Even if the trend is down, the best time to sell would be on a bounce. That would be the 13-day moving average or 1280ish. It is a judgment call but the market needs to regain my trust. Remember how skittish I was back in November and December about the market's performance? It was because of memories of crashes. They happen quickly which is why it pays to be hypersensitive during the good times.
So, let's watch today and the rest of the week play itself out. I'm keeping an eye on the 13-day moving average. When we hit it, it will be time to go for a while.
Wink
Standard Disclaimers
1. This blog is for educational purposes only.
2. None of the individuals associated with the Las Vegas TSP Investment Club are registered financial advisors.
3. This blog is not an offer to the public to buy or sell any stocks, options, commodities or futures.
4. You are encouraged to do your own due diligence and to consult with a professional financial advisor before making any investment decision.
5. This blog cannot take responsibility for the results of your investment and trading decisions.
As you probably know, the market reacted badly to the news in Japan. The overnight futures are way down.
What to do?
It is too late to panic. We are caught in the downdraft like most of the planet. Also, the trend has changed from up to down. The market is always a risky place. Q: Who could have predicted a 9.0 earthquake followed by a tsunami followed by a possible meltdown at multiple nuclear reactors? Not me.
Anyway, the point here is that the globe is in panic mode. These times are the worst times to sell in hindsight. Even if the trend is down, the best time to sell would be on a bounce. That would be the 13-day moving average or 1280ish. It is a judgment call but the market needs to regain my trust. Remember how skittish I was back in November and December about the market's performance? It was because of memories of crashes. They happen quickly which is why it pays to be hypersensitive during the good times.
So, let's watch today and the rest of the week play itself out. I'm keeping an eye on the 13-day moving average. When we hit it, it will be time to go for a while.
Wink
Standard Disclaimers
1. This blog is for educational purposes only.
2. None of the individuals associated with the Las Vegas TSP Investment Club are registered financial advisors.
3. This blog is not an offer to the public to buy or sell any stocks, options, commodities or futures.
4. You are encouraged to do your own due diligence and to consult with a professional financial advisor before making any investment decision.
5. This blog cannot take responsibility for the results of your investment and trading decisions.
Sunday, March 6, 2011
Friday Was An Inside Day
Please note that this past Friday was an inside day in terms of S&P 500 price action. This means that the daily high was lower than the high on Thursday and that the daily low was higher than the low on Thursday. Inside days in and of themselves do not tell us the future direction of the market. But they portend a thrust or impulsive action out of the price range of Thursday's price action. I have a bullish bias because the market is in an up trend and the trend leading to Thursday's price action was up.
1332 is the line in the sand. If the price action this week crosses 1332, then there should be alot of buy stops triggered. This will further short covering and propel the market to new highs for the year. My personal target short-term would be 1359.
For more information on inside day patterns and the S&P 500 Index, google "inside day" and "larry williams."
Have a good Sunday!
Standard Disclaimers
1. This blog is for educational purposes only.
2. None of the individuals associated with the Las Vegas TSP Investment Club are registered financial advisors.
3. This blog is not an offer to the public to buy or sell any stocks, options, commodities or futures.
4. You are encouraged to do your own due diligence and to consult with a professional financial advisor before making any investment decision.
5. This blog cannot take responsibility for the results of your investment and trading decisions.
1332 is the line in the sand. If the price action this week crosses 1332, then there should be alot of buy stops triggered. This will further short covering and propel the market to new highs for the year. My personal target short-term would be 1359.
For more information on inside day patterns and the S&P 500 Index, google "inside day" and "larry williams."
Have a good Sunday!
Standard Disclaimers
1. This blog is for educational purposes only.
2. None of the individuals associated with the Las Vegas TSP Investment Club are registered financial advisors.
3. This blog is not an offer to the public to buy or sell any stocks, options, commodities or futures.
4. You are encouraged to do your own due diligence and to consult with a professional financial advisor before making any investment decision.
5. This blog cannot take responsibility for the results of your investment and trading decisions.
Saturday, March 5, 2011
Market Thought for the Day - The Safest Trade
"The safest trade is to buy (sell) the first correction to the new trend." -- W.D. Gann
Standard Disclaimers
1. This blog is for educational purposes only.
2. None of the individuals associated with the Las Vegas TSP Investment Club are registered financial advisors.
3. This blog is not an offer to the public to buy or sell any stocks, options, commodities or futures.
4. You are encouraged to do your own due diligence and to consult with a professional financial advisor before making any investment decision.
5. This blog cannot take responsibility for the results of your investment and trading decisions.
Standard Disclaimers
1. This blog is for educational purposes only.
2. None of the individuals associated with the Las Vegas TSP Investment Club are registered financial advisors.
3. This blog is not an offer to the public to buy or sell any stocks, options, commodities or futures.
4. You are encouraged to do your own due diligence and to consult with a professional financial advisor before making any investment decision.
5. This blog cannot take responsibility for the results of your investment and trading decisions.
Friday, March 4, 2011
A Preliminary Thought on the 2011 Strategy - Beating the S&P 500 Index
In my previous post, I noted that the S&P 500 Index had traced out a Symmetrical Triangle Pattern. I believe this pattern will prove to be a continuation pattern and continue the bullish trend started back in July 2010. What I did not mention is that Symmetrical Triangles tend to be terminal. Sure, there is a thrust move out of the pattern but the resulting action concludes the trend.
So, one idea is that we follow the thrust action out of this daily symmetrical triangle pattern to its logical conclusion. We exit the C Fund at the end of the targeted terminal thrust and move aside into the G Fund. Then, the market should do its thing and go down into May 18. That low, (could conclude at the 200-day moving average), would be the low for the year possibly. Then, we would reenter the C Fund at far lower prices, ride the market back up, and beat the Index for the year 2011.
That's my preliminary thought. Its about strategy.
Standard Disclaimers
1. This blog is for educational purposes only.
2. None of the individuals associated with the Las Vegas TSP Investment Club are registered financial advisors.
3. This blog is not an offer to the public to buy or sell any stocks, options, commodities or futures.
4. You are encouraged to do your own due diligence and to consult with a professional financial advisor before making any investment decision.
5. This blog cannot take responsibility for the results of your investment and trading decisions.
So, one idea is that we follow the thrust action out of this daily symmetrical triangle pattern to its logical conclusion. We exit the C Fund at the end of the targeted terminal thrust and move aside into the G Fund. Then, the market should do its thing and go down into May 18. That low, (could conclude at the 200-day moving average), would be the low for the year possibly. Then, we would reenter the C Fund at far lower prices, ride the market back up, and beat the Index for the year 2011.
That's my preliminary thought. Its about strategy.
Standard Disclaimers
1. This blog is for educational purposes only.
2. None of the individuals associated with the Las Vegas TSP Investment Club are registered financial advisors.
3. This blog is not an offer to the public to buy or sell any stocks, options, commodities or futures.
4. You are encouraged to do your own due diligence and to consult with a professional financial advisor before making any investment decision.
5. This blog cannot take responsibility for the results of your investment and trading decisions.
Market Conditions - A Symmetrical Triangle Pattern
Today was a bullish day.
Now you might ask why was today a bullish day? The market closed down about 0.66%.
Here's why....
First, the market did not close more than 75% or 1 % down. I use this guide as a warning of real, true blue selling versus a buying opportunity. The drop was not great enough to make me want to run for the exits.
Second, the market leaped up in the final hour of the trading day. As a rule of thumb, the later in the day the rise the more bullish is the price action.
Third, the market on as daily chart is tracing out a Symmetrical Triangle Pattern. This pattern began on February 18, 2011 when the S&P 500 Index printed out a high of 1344 on Friday. The low was the violent drop to 1294 on Thursday, February 24. Since the February 24 low, the market has bounced up to 1332 and then down to 1302 and then back up to 1332 this morning before dropping down to 1311 and then closing up over 1320. What a bouncing ball! In fact, this bouncing pattern is creating a tighter and tighter coiled action. Eventually, price will burst up above 1332 and zoom higher or bust down through 1310 and drop lower. I would bet that we zoom higher next week because the Symmetrical Triangle Pattern is usually a continuation pattern and the market has been heading up since July 1, 2010.
So, my expectations are that the bounce in the last hour of the trading today is a harbinger of higher prices ahead next week.
Fourth, on a 60-minute chart, the price action momentum down has slowed up. The MACD Histogram is turning up. When the MACD Histogram turns up after a decline, it is a sign that higher prices are ahead.
Finally, the market closed above the 13-day moving average on the clearstation.com 9-month chart for the S&P 500 Index. This closing above the 13-day moving average is bullish, since the pros are acting in the final hour of the trading day.
For all of these reasons, today was a bullish day. I believe higher prices are ahead.
Have a good weekend!
Later.
P.S., the most important date this year will be May 18, 2011. I believe we have a fairly high probability of making a low for 2011 on May 18. So, I will continue to think about how we can game this date and, in the process, beat the S&P 500 Index for the year.
Standard Disclaimers
1. This blog is for educational purposes only.
2. None of the individuals associated with the Las Vegas TSP Investment Club are registered financial advisors.
3. This blog is not an offer to the public to buy or sell any stocks, options, commodities or futures.
4. You are encouraged to do your own due diligence and to consult with a professional financial advisor before making any investment decision.
5. This blog cannot take responsibility for the results of your investment and trading decisions.
Now you might ask why was today a bullish day? The market closed down about 0.66%.
Here's why....
First, the market did not close more than 75% or 1 % down. I use this guide as a warning of real, true blue selling versus a buying opportunity. The drop was not great enough to make me want to run for the exits.
Second, the market leaped up in the final hour of the trading day. As a rule of thumb, the later in the day the rise the more bullish is the price action.
Third, the market on as daily chart is tracing out a Symmetrical Triangle Pattern. This pattern began on February 18, 2011 when the S&P 500 Index printed out a high of 1344 on Friday. The low was the violent drop to 1294 on Thursday, February 24. Since the February 24 low, the market has bounced up to 1332 and then down to 1302 and then back up to 1332 this morning before dropping down to 1311 and then closing up over 1320. What a bouncing ball! In fact, this bouncing pattern is creating a tighter and tighter coiled action. Eventually, price will burst up above 1332 and zoom higher or bust down through 1310 and drop lower. I would bet that we zoom higher next week because the Symmetrical Triangle Pattern is usually a continuation pattern and the market has been heading up since July 1, 2010.
So, my expectations are that the bounce in the last hour of the trading today is a harbinger of higher prices ahead next week.
Fourth, on a 60-minute chart, the price action momentum down has slowed up. The MACD Histogram is turning up. When the MACD Histogram turns up after a decline, it is a sign that higher prices are ahead.
Finally, the market closed above the 13-day moving average on the clearstation.com 9-month chart for the S&P 500 Index. This closing above the 13-day moving average is bullish, since the pros are acting in the final hour of the trading day.
For all of these reasons, today was a bullish day. I believe higher prices are ahead.
Have a good weekend!
Later.
P.S., the most important date this year will be May 18, 2011. I believe we have a fairly high probability of making a low for 2011 on May 18. So, I will continue to think about how we can game this date and, in the process, beat the S&P 500 Index for the year.
Standard Disclaimers
1. This blog is for educational purposes only.
2. None of the individuals associated with the Las Vegas TSP Investment Club are registered financial advisors.
3. This blog is not an offer to the public to buy or sell any stocks, options, commodities or futures.
4. You are encouraged to do your own due diligence and to consult with a professional financial advisor before making any investment decision.
5. This blog cannot take responsibility for the results of your investment and trading decisions.
Thursday, March 3, 2011
Market Conditions - Bullish
Today was a good bullish day. The S&P 500 Index closed @ 1330. Tomorrow should be an up day as well. A correction should follow the next wave up. For those who are interested in the technicals, the market has formed a strong bull flag pattern since February 18. The line in the sand is 1333 on the S&P futures. I fully expect this line to be crossed by tomorrow morning. In this event, the market should gap up and power higher.
Its all good right now. I must confess that, as an investor and trader, I am more intrigued by market conditions where you can catch the low as we did on March 1. There is not as much intellectual challenge for me when we are in quiet bull conditions, although these are the best times for the making of money.
Anyway, to keep my mind challenged in these easy money times, I will think about how we can beat the S&P 500 Index by year's end. The trick will be to anticipate and play the notable bottom in May. I will offer more thoughts on this in a later posting.
Good evening!
Standard Disclaimers
1. This blog is for educational purposes only.
2. None of the individuals associated with the Las Vegas TSP Investment Club are registered financial advisors.
3. This blog is not an offer to the public to buy or sell any stocks, options, commodities or futures.
4. You are encouraged to do your own due diligence and to consult with a professional financial advisor before making any investment decision.
5. This blog cannot take responsibility for the results of your investment and trading decisions.
Its all good right now. I must confess that, as an investor and trader, I am more intrigued by market conditions where you can catch the low as we did on March 1. There is not as much intellectual challenge for me when we are in quiet bull conditions, although these are the best times for the making of money.
Anyway, to keep my mind challenged in these easy money times, I will think about how we can beat the S&P 500 Index by year's end. The trick will be to anticipate and play the notable bottom in May. I will offer more thoughts on this in a later posting.
Good evening!
Standard Disclaimers
1. This blog is for educational purposes only.
2. None of the individuals associated with the Las Vegas TSP Investment Club are registered financial advisors.
3. This blog is not an offer to the public to buy or sell any stocks, options, commodities or futures.
4. You are encouraged to do your own due diligence and to consult with a professional financial advisor before making any investment decision.
5. This blog cannot take responsibility for the results of your investment and trading decisions.
All Systems Are Go
We should have a big gap up in the markets this morning. Remember that our entry point (100% C Fund) was at 1306 at the closing price on March 1, 2011. Right now, we are behind the S&P 500 Index for the year. The market was far stronger in January and February than I envisioned. In a later post, I will write about our strategy for besting the Index by year's end. Central to the strategy will be the idea that the market will present a very good buy opportunity in May. In other words, a May correction should set up the May buy opportunity.
More about this strategy in a later post.
Standard Disclaimers
1. This blog is for educational purposes only.
2. None of the individuals associated with the Las Vegas TSP Investment Club are registered financial advisors.
3. This blog is not an offer to the public to buy or sell any stocks, options, commodities or futures.
4. You are encouraged to do your own due diligence and to consult with a professional financial advisor before making any investment decision.
5. This blog cannot take responsibility for the results of your investment and trading decisions.
More about this strategy in a later post.
Standard Disclaimers
1. This blog is for educational purposes only.
2. None of the individuals associated with the Las Vegas TSP Investment Club are registered financial advisors.
3. This blog is not an offer to the public to buy or sell any stocks, options, commodities or futures.
4. You are encouraged to do your own due diligence and to consult with a professional financial advisor before making any investment decision.
5. This blog cannot take responsibility for the results of your investment and trading decisions.
Tuesday, March 1, 2011
1306 Actual Entry Price
Since my order was placed late yesterday, it did not become effective until today's close.
So, my actual entry price is 1306 on the S&P 500 Index.
Today broke a 7-month long pattern. The first day of the month today was actually a down day, although it was indeed a Short Sale Day that I was anticipating yesterday. But 1306 is a lower price than 1325, so sometimes one can benefit from a sell off. As always, I am anxious about this week's market action. Historically, the early half of March is a strong time for the market. If historical patterns bear out, then this week should be an up week. However, I am also prepared for a downdraft. 1299 on the S&P 500 Index should hold as support. If not, then we will have to sit out a correction.
Corrections are normal in bull markets. They allow one to buy in at lower prices.
I still believe that the best buying opportunity this year will occur in May. We will see.
Later.
Standard Disclaimers
1. This blog is for educational purposes only.
2. None of the individuals associated with the Las Vegas TSP Investment Club are registered financial advisors.
3. This blog is not an offer to the public to buy or sell any stocks, options, commodities or futures.
4. You are encouraged to do your own due diligence and to consult with a professional financial advisor before making any investment decision.
5. This blog cannot take responsibility for the results of your investment and trading decisions.
So, my actual entry price is 1306 on the S&P 500 Index.
Today broke a 7-month long pattern. The first day of the month today was actually a down day, although it was indeed a Short Sale Day that I was anticipating yesterday. But 1306 is a lower price than 1325, so sometimes one can benefit from a sell off. As always, I am anxious about this week's market action. Historically, the early half of March is a strong time for the market. If historical patterns bear out, then this week should be an up week. However, I am also prepared for a downdraft. 1299 on the S&P 500 Index should hold as support. If not, then we will have to sit out a correction.
Corrections are normal in bull markets. They allow one to buy in at lower prices.
I still believe that the best buying opportunity this year will occur in May. We will see.
Later.
Standard Disclaimers
1. This blog is for educational purposes only.
2. None of the individuals associated with the Las Vegas TSP Investment Club are registered financial advisors.
3. This blog is not an offer to the public to buy or sell any stocks, options, commodities or futures.
4. You are encouraged to do your own due diligence and to consult with a professional financial advisor before making any investment decision.
5. This blog cannot take responsibility for the results of your investment and trading decisions.
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