Mike
07-11-2013, 04:36 PM
We had a follow-through day on the NASDAQ today, this adds the B1 buy signal to the four prior signals we had in our back pocket: B3, B4, B6, B8. This turns the buy switch on. Normally restraint (exposure limit of +2 or 55% invested) is engaged on a follow-through day. Restraint is turned off by one of two methods, the index closes 1.25% above the follow-through day or we get a B4 trending above the 21-day buy signal. That signal was in our back pocket so the exposure count is now +5 fully invested.
All day today I looked at charts and often or normally on a FTD there is much to choose from. I did buy PKG today and add to SNTS but everything else I looked at was either extended or flawed in some way. This is a bit disconcerting. This rally really got going long before the FTD which has led to the extended leaders. I am in TSLA, SNTS and PKG. I probably should have taken a position in EWM (2X Russell ETF) to gain more exposure but I wasn't thinking in that direction until too late. The fact that not much was set up to buy today reminds me of junk off the bottom again.
It seems the market mechanics are tuned to only one thing, what did Ben Bernanke last say.
All day today I looked at charts and often or normally on a FTD there is much to choose from. I did buy PKG today and add to SNTS but everything else I looked at was either extended or flawed in some way. This is a bit disconcerting. This rally really got going long before the FTD which has led to the extended leaders. I am in TSLA, SNTS and PKG. I probably should have taken a position in EWM (2X Russell ETF) to gain more exposure but I wasn't thinking in that direction until too late. The fact that not much was set up to buy today reminds me of junk off the bottom again.
It seems the market mechanics are tuned to only one thing, what did Ben Bernanke last say.