Steve Rushton, Author at Trading the Line

About Steve Rushton

S&P500 daily update

nice bounce no power

Nice overnight bounce. Buy the weak close, sell on the open.

Momentum is down, but a few more days of weakness may be enough to prep a santa rally.

My best guess is a Fed induced turnaround into expiration friday.

Notice the new T structure mirrors the large db osc structure for a peak late january.

Steve Rushton December 15, 2014No Comments

S&P500 daily update

Short Alert

Negative developments on Friday afternoon –

Losing 55EMA support
Break of rising support line S2
Short Alert now in place

But:

Potential support in 1990 area
OSC now near zero

Watch T Oscillator and OSC for turn point and new T structure

Steve Rushton December 14, 2014No Comments

S&P500 daily update

Dead cat, maybe

A wild day and did not get above the 2057 cover buy level.
But another great example of Buying the overnight bounce after a plunge.

Perhaps looking for support in the 1980-2000 area.

LT Sell signal at close 2035

Steve Rushton December 11, 2014No Comments

S&P500 daily update S&P500 signal

oilskids

With yesterday's failure to follow through the midpoint an S/T Sell signal is generated below 2052 and so entry at 2045. (allowing 5/6 points for a bounce).

With a close below the mid-point the L/T long signal covers and will go short tomorrow at the close unless we rally back above the mid-point.

First line of support is S1.

Although the 8/21 short alert confirmation is not yet in place, it seems likely to happen today or tomorrow but keep an eye on this for confirmation of a short signal.

Steve Rushton December 11, 2014No Comments

S&P500 daily update

Spike down recovery

An interesting recovery from 2035 yesterday and didn't close below the short level of 2052. Lets see if the bears mean business today.

Steve Rushton December 10, 2014No Comments

S&P500 daily update

Testing the mid

A close below 2052 will indicate a short position and possible move down to support at say S1 or lower.

Lets see what Santa brings to town.

Steve Rushton December 9, 2014No Comments

S&P500 intraday update

S/T Cover at 2062

With the sell warings in place and a move thru 2065 the stop is hit on the Short tem position.

Steve Rushton December 8, 2014No Comments

S&P500 daily update S&P500 signal

OSC Sell signal at the close on Friday at 2075 indicating that momentum has dropped significantly and that we might expect either a drop or a period of sideways trading. Selling credit spreads above the highs or buying cheap out of the money puts makes good sense.

Steve Rushton December 7, 2014No Comments

S&P500 daily update

2nd Sell warning

Held above 2061 today, but the 5,35 oscillator will most likely make an OSC Sell signal tomorrow unless we get a big upday.

The T volume oscillator also dropped back below zero – another sell warning.

Steve Rushton December 4, 2014No Comments

S&P500 daily update

more juice

OK, first succssful test of the move.

T volume oscillator turns back up above zero.

Watch to see if the main oscillator makes a sell signal tomorrow or friday.

Steve Rushton December 3, 2014No Comments

“Simplicity is the ultimate sophistication.”
Leonardo da Vinci

“Imagination is more important than knowledge”
Albert Einstein

“All of our days are numbered. We can not afford to be idle. To act on a bad idea is better than to not act at all because the worth of the idea never becomes apparent until you do it. Sometimes this idea can be the smallest thing in the world; a little flame that you hunch over and cup with your hand and pray will not be extinguished by all the storm that howls about it. If you can hold on to that flame, great things can be constructed around it; things that are massive and powerful and world changing. All held up by the tiniest of ideas.”
Nick Cave, 20,000 days on Earth

2026 Positions

(All numbers refer to SPX)

S/T SELL Signal below 6845 on 03 Mar

COVER Short Signal above 6877 on 02 Mar

S/T SELL Signal below 6850 on 02 Mar

COVER Short Signal above 6857 on 27 Feb

S/T SELL Signal at 6857 on 27 Feb

COVER Signal below 6884 at 6857 on 27 Feb

S/T BUY Signal at 6884 on 23 Feb

COVER Short Signal at 6850 on 23 Feb

S/T SELL Signal at 6837 on 23 Feb

COVER Signal at 6864 on 23 Feb

S/T BUY Signal at 6883 on 18 Feb

COVER Short Signal at 6834 on 17 Feb

S/T SELL Signal at 6888 on 12 Feb

COVER Signal at 6915 on 12 Feb

S/T BUY Signal at 6899 on 06 Feb

COVER Short Signal at 6938 on 06 Feb

S/T SELL Signal at 6901 on 04 Feb

COVER Short Signal at 6915 on 03 Feb

S/T SELL Signal at 6915 on 03 Feb

COVER Signal at 6942 on 03 Feb

S/T BUY Signal at 6968 on 02 Feb

COVER Short Signal at 6938 on 30 Jan

S/T SELL Signal at 6910 on 30 Jan

COVER Signal at 6940 on 30 Jan

S/T BUY Signal at 6934 on 29 Jan

S/T SELL Signal at 6907 on 29 Jan

COVER Signal at 6934 on 29 Jan

S/T BUY Signal above 6905 at 6923 on 22 Jan

COVER Signal at 6849 on 21 Jan

S/T SELL Signal below 6894 at 6843 on 20 Jan

COVER Signal below 6925 at 6843 on 20 Jan

S/T BUY Signal at 6961 on 15 Jan

COVER Signal below 6934 at 6925 on 14 Jan

S/T BUY Signal above 6890 at 6900 on 05 Jan

COVER Short Signal at 6864 on 02 Jan

S/T SELL Signal at 6837 on 02 Jan

Mission

It has been my Mission to create a simple but effective method for investing in the stock market, so that I would always know what to do regardless of the circumstances.

The result is a rigorous system which allows the market to tell you what to do, when to Buy, when to Hold, when to Cover, and when to Sell, and it removes the need for you to have any opinion whatsoever.

And so, I present to you the diary of my personal trading system, and a record of the signals that it is producing. You are welcome to follow me along but please understand that the information posted here is for entertainment purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.

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“In the end, I’m not interested in that which I fully understand. The words I have written over the years are just a veneer. There are truths that lie beneath the surface of the words... truths that rise up without warning, like the humps of a sea monster and then disappear. What performance and song is to me is finding a way to tempt the monster to the surface, to create a space, where the creature can break through what is real and what is known to us. This shimmering space where imagination and reality intersect... this is where all love and tears and joy exist. This is the place. This is where we live.”
Nick Cave 20,000 days on Earth

“If you're going to try, go all the way. Otherwise, don't even start. This could mean losing girlfriends, wives, relatives and maybe even your mind. It could mean not eating for three or four days. It could mean freezing on a park bench. It could mean jail. It could mean derision. It could mean mockery--isolation. Isolation is the gift. All the others are a test of your endurance, of how much you really want to do it. And, you'll do it, despite rejection and the worst odds. And it will be better than anything else you can imagine. If you're going to try, go all the way. There is no other feeling like that. You will be alone with the gods, and the nights will flame with fire. You will ride life straight to perfect laughter. It's the only good fight there is.”
Charles Bukowski, Factotum, 1975

>“The mind is a glass floor.
The mind is the spirit’s tear.
The mind is our prior and subsequent ghost.
The mind is the Bullion Express and the blood on the tracks.
The mind is a stone door.
The silver on the backs of mirrors.
The wave that defines the coast.
It’s what the drunk grave robbers couldn’t stuff in their sacks.
The mind is the sum of all and more.
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The contract between the lash and the whipping post.
A quilt of dreams stitched with facts.
A meaningless argument among whores.
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A masquerade party, guest and host.
A candlelit landscape of puddled wax.
The mind is what thought is for.
The parking lot at the Mall of Fears.
The fire-pit for the piggy roast.
What the soul surrendered and won’t take back.
The mind is neither either nor or.
The real center of an empty sphere.”
Jim Dodge, Stone Junction, 1990

“The war is not meant to be won, it is meant to be continuous. Hierarchical society is only possible on the basis of poverty and ignorance. This new version is the past and no different past can ever have existed. In principle the war effort is always planned to keep society on the brink of starvation. The war is waged by the ruling group against its own subjects and its object is not the victory over either Eurasia or East Asia, but to keep the very structure of society intact.”
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The Gambler (2014), Dir. Rupert Wyatt