Zeev's Turnips Patch-No Politics (ZEEV)

[was Steve]

no doubt about it the dow has been hit hard and much harder than the nas or the other broader indexes. even after todays big nas pullback, the dow was down 297 points the last two weeks while the ndx was up 7 points. this divergence has certainly added to my lack of longer term clarity. on three separated days (wed-fri) i attempted to play long dow or dow type sectors and short ndx plays via profunds. this was net profitable, but only after an extremely frustrating day on thursday where i had almost 80% longs and 20% shorts and lost money on a day the nas went up large.

the way i am playing next week is similar as i think we have some more red on monday at least in techs but will look like a consolidation day by the close if im right. im heavily tilted to the pharmaceuticals for monday and looking for a sign of life there. i am counting on my thoughts that the indexes wont be allowed to tank the week before the election and especially not the dow as da masses do tend to follow that since they are bombarded with 10k articles all the time.

the new highs and lows have are pretty neutral. i grade each around 3 pm every day as one of my inputs into my allocation for the following days exposure.

something definitely isnt what it seems. if only i could put my finger on it.


i bit the bullet and went out 100% long after being in a hedged position of 13% long for thursdays. that meant that i sold my 43% of accounts that were short and moved those proceeds to the long side. as i trade funds i dont have the luxury of deploying the funds intraday so if i think we are close to a turn, i live with some potential drawdown first