lafano's  Instablog

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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 4, 2013 8:16 AM

    Down day yesterday based on less than expected ADP employment and ISM Services results and international concerns. Interesting, the market dropped and held at the "trend line" established on the lows of 12/31/2012, 2/25/1213 and now 3/3/2013 (yesterday).

    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.

    As a result of yesterday's 1% decline I was stopped out of many of my positions at their respective 20 day moving average levels. My goal was to preserve my gains.

    I am planning for another 3.4% to 7.3% decrease (for SPY) to the low Bollinger band or 200 day moving average respectively. Therefore, I am currently developing a "buy list" of equity ETFs.

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  • 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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