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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
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  • Market Trend

    I still remain short/sell on the overall market (NYSEARCA:SPY). This is based upon clear sell signals generated on 3/8/2013 from my primary oscillators (Bollinger band and RSI).

    I am still anticipating a correction of approximately 6% from this point.

    Interesting are the narrowing of the Bollinger bands, as the low band is only 5 points away. Normally, I would re-enter the market once it pierces the low band and RSI below 30. RSI is currently sitting at 40.65 so it's technically not a buy situation yet (for me). However, I trust that it will fall to 30 (RSI) when the market (SPY) decreases further to the 100 day moving average level at 149.8 (1498 for SP500). That will represent another 2.78% decline from yesterday's close.

    I'm planning (and hoping) for a correction to the 200 day ma level which is a 5.71% decline. Therefore, Ill begin buying at the 100 ma level and more aggressively at the 200 ma point in order to rebuild my equity portfolio back to 25% -28%, from its current level of 5% (which I always maintain) .

    Another interesting point is - yesterday, the market bounced right off of the Bollinger band low, thus acting as support. Therefore, if the market breaches the low band today it will become interesting…

    Apr 19 9:49 AM | Link | Comment!
  • Market Trend

    I still remain short/sell on the overall market (NYSEARCA:SPY). This is based upon clear sell signals generated on 3/8/2013 from my primary oscillators (Bollinger band and RSI). MACD is currently breaking down again, thus supporting a decline.

    I am still anticipating a correction of approximately 4% to 9%. My goal is to begin buying aggressively, especially SPY and IJH, between the Bollinger band low and 200 day moving average (for SPY), as a means of rebuilding my overall equity portfolio back to 25%-28%.

    Yesterdays increase put me in the black for all of my positions purchased on 4/15/2013. I again have stop orders protecting my profits.

    Apr 17 9:35 AM | Link | Comment!
  • Market Trend

    Yesterday's decline stopped me out of most of my positions again, for nice gains. As mentioned yesterday, these profits were achieved from my purchases of two weeks ago when the market dipped 1%.

    Therefore, yesterday, I repurchased IJH at a lower cost as a means of maintaining at least a 5% position in equities, as explained last week. Based on early market futures I am in the black already and shall place stops later today to ensure another gain.

    I still remain short/sell on the overall market (NYSEARCA:SPY). This is based upon clear sell signals generated on 3/8/2013 from my primary oscillators (Bollinger band and RSI).

    I am still now anticipating a correction of approximately 4% to 9%. My goal is to begin buying aggressively between the Bollinger band low and 200 day moving average, now 153.2 (SPY) and 145.0 respectively, as a means of rebuilding back to 25%-28% of my overall portfolio in equities.

    Apr 16 9:20 AM | Link | Comment!
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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
  • VXX to expload this am. Greece is being Greece (again).
    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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