I think it’s safe to say the OVERSOLD flags in The PPT worked again. Therefore, I will discuss my current strategy.
As you know, I opted to sideline myself, mainly due to my aversion to risk. However, The PPT nailed the OVERSOLD range to the day, yet again. With that in mind, it is safe to assume, judging from past oversold cycles, we are heading back to OVERBOUGHT. If so, all of my TZA calls and EDZ shares will depreciate. Therefore, I closed out of those positions and now find myself long only.
Greece just caught another downgrade by Fitch. Big fucking deal. I think it’s fair to say, investors couldn’t care less about credit risk or debt ceilings. I have one stock on my buy list, which will be bought shortly. However, I am most likely to remain at least 75% cash until some of these credit issues are resolved.
NOTE: I will revisit my TZA calls when PPT flags OVERBOUGHT.
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Welcome back to the Right side, dear sir!
Long live The PPT
and Bella.
LOL, whatever happened to never showing the OB/OS signals to us unworthy plebes?
I said I would not show them before they worked. Since it’s after the fact, it is okay to discuss strategy.
This market will remain range bound until such time the debt ceiling is raised. In the meantime, I am eating a sammich with Mr Fly.
The PPT is worth every dime it cost. It is like a having your own fricking ATM machine. The PPT is the greatest invention since the iPhone. I only trade OB or OS using the PPT. Rarely in between even if it means you don’t trade at all for a few days. Have patience and wait for the signals. Oversold nails it everytime. Overbought usually takes a few days longer. Thanks to Mr. Fly for sharing.
the PPT ROCKS. makes the lottery LOOK LIKE A JOKE. you cant win it, if your not in it.
You can get the same readings with daily RSI(5).
No you cannot.
It always amazes me how many people come in here and talk shit CONSTANTLY. Either they are trading their way to zero, constantly replenishing their accounts, or trading on paper made from BULLSHIT. Good day plebs. I need to get back to the bat cave (yes small b bat cave).
Oh @Fly, thank you for giving us the SHOMP of the PPT. Good day sir.
It oughtta be illegal to be banking this much coin….all one really has to do, and this has been true for the last year or more, is bet against the dollar. It will pay off eventually.
That is what i call long term investing…just bet against the dollar.
SHMOP’d my way to profitable trades with the widow maker TVIX
long live PPT
Le Fly, are you sticking with GSS? I noticed Zacks downgraded them today.
fuck zacks
I missed that swoon in silver a few months ago. But, i think I will catch the Gold swoon
The News on gold is just too bullish, as is every fundamental and technical. That is exactly how you crash a commodity
Can someone find an amateur or professional NOT bullish on gold?
“(FORTUNE Magazine) – JOE KENNEDY, a famous rich guy in his day, exited the stock market in timely fashion after a shoeshine boy gave him some stock tips. He figured that when the shoeshine boys have tips, the market is too popular for its own good, a theory also advanced by Bernard Baruch, another vested interest who described the scene before the big Crash:
“Taxi drivers told you what to buy. The shoeshine boy could give you a summary of the day’s financial news as he worked with rag and polish. An old beggar who regularly patrolled the street in front of my office now gave me tips and, I suppose, spent the money I and others gave him in the market. My cook had a brokerage account and followed the ticker closely. Her paper profits were quickly blown away in the gale of 1929.””
You are spot on, Panama. The only question is whether the drop will be $100 or $200.
Sold MCP calls for +20% in a few hours.
Don’t micromanage this market kids. The clam told you he wants the market up. Get your money leverage it and buy A, B, C, D you get it. Keep listening to these people you will lose money. Charts, fundamentals earnings, jobs all BS the market us going up. Do you realize we are almost at the all times highs and your leaders keep saying bear market rally. Merry Christmas.
HA! this is a house of cards, went from all cash on thurs last week to 70% (in trading acc. only 2 stocks, clne lng, flys thought on preservation ,of wealth is correct, in my retirement acc going to all commodities and hard assetts, oil ,gold, chinnese girls with one leg…if im wrong it wont hurt, if the dollar rises , i will have more buy power …
all i know is that ppt still says wnr is kicking major puntang
You should make that one stock buy TZOO
Still in GSS
Thanks