3SOF

Dow Jones 30 Industrials (INDU)
Bull run now.......JMHO of course 
Looking for 14,700 to 14,800 this month

Yeah, the SPY closed at a new all time high yesterday, and even though most analysts are advising people to take profits (if they have them), history tells us new highs should be bought, not sold. I'm expecting something like another 3-5% upside between now and the end of the year (of course, there will be pullbacks, but you know, it's a bull market - you can't lose your position).

Ouch!!!!!!!!!!!!

So here is a 'pullback'

I closed out my SPY positions today at various prices in the 1560 to 1570 zone (I have no trade execution costs so can exit like that, CFD providers make their money on the spread and finance costs.) I am not prediciting a collapse, but my strategy uses big leverage and therefor I require the confidence that the position can / will be moving in my favour and not in corrective / consolidating phase.
SPY remains in bull mode for now so lets see.

The SPY almost never leaves a gap open, so we're probably going to close this at $154.26 before continuing the bull run.

Shanghai Stock Exchange up 2% today. Might provide some fuel for the US traded Chinese rockets.

Link to SSE http://www.sse.com.cn/sseportal/en_us/ps/home.shtml

QuoteThe SPY almost never leaves a gap open, so we're probably going to close this at $154.26 before continuing the bull run.

The gap is closed now.

David, I understand that you are not a short term trader but with 4th Quarter being statistically the best stock appreciation quarter, what stocks in the main portofolio would you recommend for short term appreciation over the quarter for new investment money?

Keep up the great work on the long term focus.

Quote from: [email protected] on October 16, 2007, 07:47:24 AM
David, I understand that you are not a short term trader but with 4th Quarter being statistically the best stock appreciation quarter, what stocks in the main portofolio would you recommend for short term appreciation over the quarter for new investment money?

Keep up the great work on the long term focus.

I'm not sure which stocks to pick for the short term mschultz, but I think CIMT, GIGM, JAKK, GSB, SDTH, CHME.OB and ETLT.OB may have the strongest short term catalysts. This group can be also somewhat more riskier than the average holding of the Main Portfolio.

Good luck

Any comments   

options exp today

Quote from: BigSully1 on October 19, 2007, 02:41:41 PM
Any comments   

options exp today

So far down volume for the SPY is unlikely to be greater than it was on Sept 18th, even considering today is options expiration.  Seems a bit fast to go back into full blown correction mode.  Boone Pickens says $90 oil shouldnt hurt that much, and that seems to be the biggest reason for the down move today.

Quote from: tokyopua on October 19, 2007, 03:24:21 PM

Quote from: BigSully1 on October 19, 2007, 02:41:41 PM
Any comments   

options exp today

So far down volume for the SPY is unlikely to be greater than it was on Sept 18th, even considering today is options expiration.  Seems a bit fast to go back into full blown correction mode.  Boone Pickens says $90 oil shouldnt hurt that much, and that seems to be the biggest reason for the down move today.

It plunged enough to kick in the trading curbs on the NYSE again. Lots of negatives contributing today. Oil above $90. Some pretty tepid ER's, More S&P credit rating reductions. Options exp., and probably even some superstition about being the 20 year anniversary (Oct 19, 1987) of "Black Monday" when DOW plunged 23% with similar concerns about int. rates/slowing econ. growth.

Technically it closed just above the high from early July

Thanks Ksifkla. Are we sitting at other significant levels on the other indices?

Quote from: tokyopua on October 19, 2007, 03:24:21 PM

Quote from: BigSully1 on October 19, 2007, 02:41:41 PM
Any comments   

options exp today

So far down volume for the SPY is unlikely to be greater than it was on Sept 18th, even considering today is options expiration.  Seems a bit fast to go back into full blown correction mode.  Boone Pickens says $90 oil shouldnt hurt that much, and that seems to be the biggest reason for the down move today.

Tokyo, I'm eager to see whether IBD says now in correction mode or not.  As of yesterdays action their current outlook was still; "market in confirmed rally" with distibution days counted in recent weeks; "3 for Nasdaq and S&P 500, 2 for DOW, 1 for NYSE."