Hi Kanuti,

Busy with kids mostly - don't really have time to run the models daily. But I still eyeball the key indicators (RSI-5, NAMO, NYMO, etc) when the markets are testy and initiate swing trades.

I don't know if the govt will outright collapse or we're heading toward a hyperinflationary period, but I've been putting funds toward gold and silver coins. Though with gold so high, mostly all silver lately.

In a worst case "Wiemar Republic" scenario, we may need to resort to silver coins to purchase everyday goods. Physical gold is great and all, but you can't buy basic goods with gold coins.

What have you been up to? You are down in Phoenix correct??

Howdy HK2

Have gotten too busy to focus on markets. Pretty much stay in cash and Precious Metals. Go long for swings when RSI-5 and McLellans get tasty.

Canceled contribution to employer 401K (excepting what is matched by employer) and buy bulk silver coins instead.

How are things going your way??

Howdy Guys!

Anybody still out there?

Steve's Gold target of $2000 nearing fruition. I believe that I was targeting $3000 back in our heyday

$10000 is a distinct possibility as the govt is making no efforts to reign in spending.

War

The indicators have been quite oversold so they're not shouting "buy" despite the magnitude of todays selloff.

Looks tempting though with NDX and SPX pushing -3%

I see Steve has found his way back.

Good to see your still around buddy!

Hi HK

I've lost the inertia to keep up with my model on a daily basis.

For the most part I am just freewheeling off of a few indicators on StockCharts, attempting to mentally mimic what the model would likely do.

I've done quite well since the beginning of May, though I've probably played it more safely than the model would recommend.

How about you??? How are things out there in Phoenix?

We may vacation in AZ this summer - more to lend support to their recent immigration stand.

Big day today!! Removing the margin from last Tuesday's purchase.

I was sitting at about 170% - will cut in in half.

A lot of the indexes now sitting at their recent lows. SPX with a quadruple bottom.

If it breaks, look out below.

My models say to take it long due to significant oversold conditions, however. Will bump it into margin should these levels hold.

Yeah I tend to think that we're in for a bullish phase of a couple months. Just based on a couple pundits I follow.

But we had that low in February which has been retested twice. I reloaded over the last couple days (about 80% long NDX and SPX) and feel good about a 10% move in the next couple months.

The SPX low was about 1040, the high was 1220. A 62% Fib retrace off the bottom would be a good place to get out. About 1055 or so.

Sure wish I picked some RUT and Precious metals yesterday - the NDX and SPX are decidedly underperforming today.

Wow gold continues to be highly manipulated. New highs are almost always traps in the short term it seems. Except when its not!!

Looking at the SPX, I think another 2% and we'll have a 50% retrace off the lows. I will take my ball and go home when (if) that happens. In fact I may scale it back after today's rally in hopes of a retrench/reload opportunity.

Up about 10% since May - should today's gains hold.

How having you been doing Euterpe??

That Stochastic setting seems to be quite predictive lately.

No unfortunately I went long and am taking a hit today - didn't heed my primary RSI5 indicator. I have a slug of Precious Metals which is lessening the portfolio hit, but it will still be a 1% loss today - it would seem.

SPX is nearing recent intraday lows (Feb and May 25) - should it crack then we'll see another leg down.

Staying put for now

Back at it today!!! In 100% with the big selloff. RSI-5 is still high for the NDX - at 41, but couln't resist going in with the 3+% selloff. Will reserve the margin in the event that things REALLY get ugly.

Up about 7% since May after only gaining fractionally (less than 1%) for Jan-Apr this year.

Hope you are handling the volatility wel Euterp!

I'm getting out today Euterp. Hope you played it well.

94% long via various funds: RUT, metals, NDX. Never got that golden opportunity to add more as all subsequent plunges ultimately petered out.

Still it's looking like a solid bump in my overall port value between 3 and 4 percent

How you doin Choad! Been trading actively??

This close near the lows todays has me in for 100% spread across NDX, small-cap and Precious Metals.

My first entry for this latest plunge

Markets getting volatile again, providing us with some more opportunities.

I think I went like 3 months with only 1 trade.

Took advantage of the last plunge - got in a little early but was well positioned for the big upside move.

Currently sitting in cash for the retest, but it may be time to dip a toe.

Dipping a toe in PM's today - 10%

Hio Steve!

Gold at $1118 this AM. We discussed POG probably way back as early as 2003. I recall you saying what $3000 per oz. was your prediction?

I make an annual gold purchase each January, the first such purchase at $325 per oz.

Last year my father, who is 84 now, gave me a $5000 gift to invest for my daughter - he has done this for all his grandkids.

He was a little surprised that I went down to our local gold dealer and bought coins. The guy at "Fort Knox" - his kids attend the same Catholic School as my girl, gave us spot prices - think we paid $925 or so. When markets crashes POG went down into the 700's, but looking better now of course.

Still targeting $3000 ?? I'm certainly not selling . . .

I suspect that we'll have a buying spike here in the next few month, pushing POG to $1500 possibly, then backing off and consolidating. A year or two down the road the buying will resume.

Sometimes I'm too smart for my own good . . .

Sold the long for lunch money. Considering going short to complete the criminal act tomorrow. . .

In the "think like a criminal" midset, the weak finish today of course point to an up day for tomorrow . .

They'll jam it up tomorrow, followed by the Friday selloff

For fun, I'm going to throw 5% of the port at my theory (NDX long). .

Ditto: I took the money from the past couple days and ran.

Tacked on perhaps six-tenths (over two days) to the big port gains from last week.

Looking for that next leg down - of course it may never come, but ya can't win'em all.

I concur that the trend has turned negative, and the pattern looks like a waterfall setup.

However we're getting into deep oversold and a bounce is forthcoming.

However I will be careful not to get into sectors or margin without another significant leg down - which could come today . . .

Did you do well with the Friday play Euterp??

Looks like we'll probably revisit those NYMO lows today . . .

Right Euterp,

Surprised at the magnitude of this down move, thought we would have the usual meander upward for several more days. Todays plunge wipes out yesterdays gains, and then some.

But Countertrend trading is my bread and butter. I will be establishing another long position here at the close, but will stay away from the sectors for now . .

Oversold conditions are extreme enough to establish a long presence IMO

Tentatively staring down a 4% portfilio bump today - been awhile since I've seen gains like that.

Back to cash, but if tomorrow drops I may look to reload . . .

Wow only realized this AM that NYMO is at near record all-time lows: -114

Not sure how today will finish, but right now I'm looking at the biggest payday in quite some time . . . loaded up with Latin, China and Precious yesterday

Nicely Played Euterp!

I've tiptoed in the past few days, about 50% via SPX and NDX

WIll pump it to 100% today with this weakness. Got some free time - I may troll the sectors ..

Whats looking good for you in sectorland Steve??

May have another entry upon us.

Was close to legging in on Friday and felt a little queasy about failing to pull the trigger this AM, but markets tanking now and could provide an entry (depending upon close)

Well I'm just going to bail out and wait for the next time.

I will hit a new port high today - finally working off that shorting debacle from June.

There will be a nice spike up day in the near future.

Today looks like one of those days designed to get scalpers like myself to bail out or lighten up: up about 0.7% - 0.8%

Tomorrow can either continue the slide or provide the big upside move.

Hey good Luck with those results Euterpe - hope ya make enough for a dinner and movie this weekend

I bumped up my deployment to 60% (NDX) at the close . .

I went in for 50% already - have a meeting that will carry past closing. Hopefully markets will continue downward . .

We getting another shot at it today Kanuti??

Well I will have a profit (barring a late plunge) but it will not be a haymaker.

Need to work off the 0.90% loss from Friday.

Given I am only 50% invested, the best I can hope for on this flip is perhaps a 1% port gain - will need NDX to close at +2.90% for that.

I would like to have added as well, but stuck at 50%

Maybe not too far out of whack.

I had to trade early yesterday, and would have backed off in the face of the rally.

And speaking of rallies, markets are rebounding today near the close. With NDX down only 0.5% I will stay where I'm at.

50% in yesterday - NDX.

Looking for more long today

Have you ever out smarted yourself?

Well yeah I took a short position a few months ago that I still haven't recovered from.

The markets selling off the past few days, I will be looking to get back into a long position tonight - will see what the models have to say. About 50% as it currently stands.

Anecdotal: I am employed by the nations largest overnight shipper as a Systems Engineers. We are often considered a bellwether for the economy.

September volumes have spiked well above plan. FWIW.

Anybody else score on this scalp???

Back to cash for next week . . .

Liking the selloff today, I may get a signal in the 100% long range. Haven't been that highly invested in awhile . . .

Hi Kanuti,

Maybe were still on the same page. The internals eased up some at the close, and I stayed in cash.