a few adjustments....

in Model 10...

covered MMM short position at break-even or scratch...

opened new long in ORCL at $31.73

I also covered the PRGO short position at small gain just above $101.50 off this mornings reversal...got filled at $101.52

AAPL was sold for a beautiful quick + 12% gain at $581.67 in a few short days

And lastly....I pressed ALXN short at $95.07 now making it a double position...have high conviction in this one that 5th wave down is about ready to commence

just shorted ALXN

new short in Model 10 of ALXN @ $93.65....

End of week...

Here's updated performance through today....not much changed in Model 10 due to mkt neutral posture earlier in the week....SnP lost some more ground...

I'll be on vacation next week...so posts won't happen till I return...I will still be transacting if I see anything but likely won't be able to post...

Happy Thanksgiving!

bought MDT

Another Model 10 long position in MDT @ $41.14 just now....

risking down to about $39 for reward of up to $47 minimum and quite possibly $50-58....

New Long in Model 10....AAPL

bought AAPL on reversal off lows at $518.15 this morning...looking for big run higher but respect risk-controls, so will stop out below this mornings low....

Indicees punished again....

here's what I wrote just the other day....

"suspect next move is still lower in mkt indicees...have many names on radar as a buy when price objectives are met....still a decent amount of charts that look like better short opportunity charts are out there as well....Think next few weeks could be choppy, usually the case when I see many long/short mixed chart opportunities...just means stock picking will be important since big up and down swings in indicees appear to be on the docket....as always let the charts be your guide....and when times like know when mkt looks in limbo and there is no technical edge...wait and watch and then Pounce! "

couldn't have said it better myself...hahaha

But seriously, this is why technicians always have an edge...you are always doing dynamic analysis instead of static thoughts...nothing becomes stale and always room to change directions....I didn't get hit much at all today with 10% net long position and a 50% cash position....my shorts adequately covered my longs....

still suspect near-term trend is down, no reason to fight it....have buy-list waiting, but don't suspect I'll pull it out until either 1321 or 1274 depending on how waves unfold...Model 10 is really starting to create some performance room against S&P 500, which actually went negative today since our 6/30/12 inception date...Model 10 went out at +9.79%.....so my investment strategy and risk-management system are proving very effective....but like always, there is never time to rest on laurels...work harder and continue to figure out better ways of doing things!

trade the charts....they don't lie!

PRGO short...

added another short here in PRGO @ $104.53

looking at covering (Reward) in area of $95-96, and outside chance of $89

stop-out above 108.50

MMM short....

just shorted MMM in Model 10 @ $89.85....looking for low $80's....risk is to $93ish

risking -3.50% or so for +7.7%

CHK new long...

I've watching CHK closely for quite some time...noticed a doji last friday combined with a hammer yesterday...I put in a buy-stop limit at $17.50 last night...got filled this morning at $17.51...so I am now long the name in MODEL 10....upside targets are $21-24....but will not be shy about taking gains....stopping out below lows of a few days ago which is $16.71...so stop at $16.59 right now....

risking 5.25% for +19%-31%

Waiting and watching...

nothing done today....Model 10 still 20% long and 80% cash....suspect next move is still lower in mkt indicees...have many names on radar as a buy when price objectives are met....still a decent amount of charts that look like better short opportunity charts are out there as well....Think next few weeks could be choppy, usually the case when I see many long/short mixed chart opportunities...just means stock picking will be important since big up and down swings in indicees appear to be on the docket....as always let the charts be your guide....and when times like know when mkt looks in limbo and there is no technical edge...wait and watch and then Pounce! 

Weeks end....

Market still has lower levels to get tagged on downside before we get a tradeable rally...in the meantime my system has done a fantastic job of rotating out of winner at precise price targets as well as stopping out of losers before larger losses mounted.  Going out on the week with largest cash position since I got up and running at 80%...think it's late to short a lot of stuff yet too early to buy, remember price is the upmost importance to me, so I will remain patient and wait for the market and individual charts to give more clarity.  this week has really seperated the Model 10 from the S&P 500 performance wise....these distribution moments in the market are key to how my system generates profits or performance over time, by consistently taking gains at high probability levels and finding better places, you are never in stale positions...too many people get stuck!

CELG cover...

CELG is in a support zone, so I decided to cover at $71.69 for a small +2.91% gain....

tons of powder dry here with 70% cash....mkt trying to find some footing here, but thinking we may have one last leg lower before a decent rally unfolds....

This is a perfect example why trading the charts works magic....when there isn't a clear set-up you sit and wait with profits booked!

MDVN limit hit...

got filled this morning covering my MDVN short at $44.50

nice 11% gain in a week!

CMG took profits

Sold CMG just after the open at $279.34

it touched $280 which was just too close to my $282 target...so out of that at a nice +16% gain...

MON stopped out at gain...

got stopped out on my short position this morning at $87.75 which I lowered to just above previous big down-days bar to make sure I took gains if it reversed...

Shorted at $90.98 and covered at $87.75...for small 3.55% gain...but hey a gains a gains a gain!

Friday = Thank God...

As you can see I put some more cash to work...went out on the week with 40% cash and 30% Short and 40% Long thus being slightly 10% Net Long....

Performance chart as I went out on the week...

NOV rounded out...

bought rest of NOV at $71.53 to round out a full position...avg'd at $72.52

MDVN short...NEM stopped out

Took full short position this a.m in MDVN on break of $50...noticed a little late on my alert system, so didn't get filled till $49.58...

Well that was quick, stopped out of NEM this morning right after open at $50.83....have to respect reward-to-risk ratio's and this is one of those times where it stings, but often end up proving to be good levels to exit...time will tell...

NEM add 2nd half position....

just made NEM a full position with my 2nd position add just now at $53.10....