Trading the Line

Tuesday Feb 4

And that just goes to show that you need to wait to see the buy signal rather than anticipate it.

Yesterday's selloff broke through 1772 and 1750 and unless we see a huge move back up today above 1774, then best stay away and let the dust settle. Gann support line (3) just below yesterdays close.

Very interesting commentary from Bob Karrow and Jeff Saut worth a read : Stock-Market-Observations

Steve Rushton February 4, 2014No Comments

S&P500 daily update

Monday February 3 2014

Looking for a short-term buy here above 1794 but 1750 a distinct possibility.

Still short with expiring options, so no real risk there at all.

Steve Rushton February 3, 2014No Comments

S&P500 daily update

Friday 31 January 2014

Stopped short of 1798 (the upper pink boundary of the green-line) and so failed to make a buy signal.

Strength above 1798 today would confirm a buy signal but the futures are down a long way today.

A flush out to 1750 might set up a short-term bottom from here.

Steve Rushton January 31, 2014No Comments

S&P500 intraday update

30 January bounce ?

Nice bounce induced by Facebook, now at 1795.

A strong day which will most probably close at or near highs.

Want to see close at or above 1798 to initiate a long tomorrow. Still in the areas of a dead-cat bounce so caution required.

Steve Rushton January 30, 2014No Comments

S&P500 daily update

January 29 – waiting for long signal

Keeping an eye on the oscillator which still looks like it needs more time.

The Mob and Oval (advanced get tools) suggest major support at 1750 next few days.

A move above 1798/1800 would indicate a rally up to the mid-point at 1827 at least.

Steve Rushton January 30, 2014No Comments

S&P500 daily update

January 28 Short-term bounce ?

Not convinced that this pullback is over.

Short-term bounce at 1775 but oscillator looks like it need more time to stabilise.

Waiting to see things lining up for a safer long entry.

ie either below the lower grey boundary or above the green line.

Steve Rushton January 29, 2014No Comments

S&P500 daily update

Short-term bounce at 1773

A short-term bounce occurred at 1773, and this looks like a minimum pull-back.

As the oscilllator has only just pulled back to zero, some stabilisation should be required before it is safe to place a long position.

I suspect we will see 1750 sooner rather than later but if we see strength above 1800 today, a recovery is under way.

Ideally a long position in the 1740-50 area with a close below the grey boundary.

Steve Rushton January 28, 2014No Comments

S&P500 daily update

Friday 24 January: Sell Off

A very strong 2% sell off in the SP, breaking through some key levels including the 55EMA, indicating the potential for a much deeper correction perhaps ultimately down to 1650 or so.

No reason to go long at this stage but watch to see if 1772 (the horizontal support line) holds. I suspect a few days of consolidation may be required before a short term bounce.

If the SP rallies strongly on monday, GO Long at 1822. Otherwise position remains SHORT.

Steve Rushton January 25, 2014No Comments

S&P500 intraday update S&P500 signal

S&P500 Sell Signal intraday at 1827

A sell signal occurred today at 1827 on the SP 500

Position changed to SHORT ONLY

Steve Rushton January 23, 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.

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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.
The spasm between one and zero in the Calendar of Black-Hole Years.
The contract between the lash and the whipping post.
A quilt of dreams stitched with facts.
A meaningless argument among whores.
Rain that keeps falling when the sky clears.
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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