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lafano's  Instablog

lafano
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Retired after spending over 38 years in Insurance and five years consulting. I enjoy trading (and investing), as I maintain two active portfolios: short term trading and long time investing. I am studying more about applying technical indicators and oscillators, primarily Bollinger Bands, RSI,... More
  • Market Trend 0 comments
    Apr 2, 2013 9:29 AM

    Market trending side-ways, possibly consolidating. I remain short/sell on the overall market. This is based upon clear sell signals generated on 3/8/2013 from my primary oscillators (Bollinger band and RSI). Additionally, MACD continues to be fading, thus supporting my sentiment even further.

    I am planning for a 4% to 8% decrease (for SPY) from this point, to the low Bollinger band or 200 day moving average respectively. Therefore, I am currently developing a "buy list" of equity ETFs.

    At this time, my current goal is to protect my profits, without much concern of a potential bounce back. Therefore, I have placed my stops slightly below the respective 20 day moving averages. Interesting, the 20 day moving average has provided support as five of the last nine trading sessions have tested it and rebounded nicely.

    I am not adding any new money based primarily on the risk/reward aspect.

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StockTalks

  • Good time to begin buying again as SPY at Bollinger B low and RSI below 30. Buying QQQ, IJH, and SPY. Also averaging into IAU (gold).
    Jun 4, 2012
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    Feb 10, 2012
  • Selling everything at 1350 (SP500), could be in another week or two, and will begin buying VXX again. 1 yr. RSI over 71 now.
    Feb 1, 2012
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