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!
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