N r2k 767.60 - 803.00
O GLD 65.66 - 66.92
O QQQQ 49.95 - 50.39
O ECA 64.54 - 65.66
N SPX 1469.00 - 1497.32
O TSX 14114.38 - 13906.11
DHI from 15 to 19 in 5 days, that is > 25% and speed that even BMW can not match!
Take some profits if you are there, please
Dear R'K where are you when we need you. You see why we do not like Long Profits? Cause, everybody is able to do that, especially if they are always LONG... Hero's are the ones that know how to short. Do you hear the silence?
Just wanted to make sure, Our "August Again" Blueprint is calling higher moves for next few weeks, so... Please I do not expect any crash or very deep correction, or even the repeat of the lows, for next... well, stay tuned. So, not aggressive shorting, even though, we will have some days where it looks the plane just sunk!
11 comments:
MR. B!!
jUST GOT YOUR SELL RECOMMEDATION. IN ADDITON TO DHI, ALSO SELL THE OTHERS: ACAS, C, GLAD, TEG, LEN, GAS AND WFC?
THANKS FOR THE "BMW" WOW, WHAT A RIDE!
WITH APPRECIATION, STAN
Dear Syneasthesia,
I do not recommend to sell all of these, but, if you have large, relatively large, positions, one may want to lighten up, or investors, may chose to ignore this reco completely. What is wrong with getting over 5% A Year and potential of capital appreciateion.
My choice is this. For traders, sell all.
FOr Investors
1) sell if you have large positions and leave about half.
2) Do not sell anything at all, enjoy income +;
By large position I mean if you invested more than 4-5% in each group and/or money amount is large then go and take partial profits.
Good Trading
Boris, thank you for the limits. Nice little trade.
It appears that a W formation in the indices is present. How bullish is this type of set-up?
Dear Paul,
I am not sure I can statistically justify any answer I give, cause I do not think there is any. These formations may last or fail, pretty equilly I think.
It is the outside info, such as the Pressure Gages and the "August Again" outline that I rely on.
Now, there could better answer to this question.
But this is how I view it.
Thanks and Regards,
Dear Paul
Boris, is sell pressure high enough to start fasing in short positions? I'm starting to get an itchy finger. Thanks for comments and doing a great service for small time investors like me.
Dear Waldo,
As may know, by now, when we get the High Sell Pressure, Usually it takes day or two for it to dissipate and bring us to minimal amount of distribution for selling. We do not have that yet. Now, this does not mean we can not go suddenly down, but Usually this is the case, and every day that the Pressure remains high, we say there is 1-2 more days to go. That is what we call a dynamic self adjustment in the pressure distribution interplay. That is how we have lasted many days in the short position even as the Buy pressure was screeming.
I hope this is clear, but ask if it is not.
Good Trading
Bought a few IWM puts (Aug 79) at the high today - 90 cents.
Thanks Boris. I guess the market decided it was bullish at least until now. Is this stuff suppose to make sense? How does the market go up 200 points and then in a second crash back down without any news. We are all just watching numbers go up and down, kind of crazy.
Support below at 1462, then 1438.
Boris, Even though the sell presure is building, we may have a few more up days remaining. This is what I got from your last comment. Im long r2k, I guess its time to tighten up the stops. Thanks for your great work and blog! Good trading....
Dear Chronictown,
Glad, very glad to hear you are making money.
Yes, please thighther stops and Here is what I would do.
1) Sell into strength , strong opening high limit.
2) Sell if the lower limit of the day is violated by more than 1%
Good Trading indeed.
Dear Chrnonictown
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