The break above 1354.36 all but confirms that I was correct and that a new high will follow before any meaningful pullback. The NYMO signal has been golden of late. The question remains which count is correct. I favor one of the two diagonals, but is it an ending or a leading?
TNA up 3.2% TODAY, FAS up 2.5% TODAY, are you long these?
Those left behind, look at 1347ish for an entry
2022 -46%
2021 +36%
2020 +40%
2019 +27%
2018 return 6%
2017 return 16.3%
2016 return: +32%
2015 return: +3.6%
2014 return +.02%;
2013 return: +61.78%;
2012 retun: +31%;
2011 return: +77%
Iwill be adding to this section over time as questions come up in the comments section.
1) Do not EMAIL me, or INSTANT MESSAGE me or try to communicate with me in any way asking questions about buying or selling stocks, options, ETFs or anything else…I am not here to give investment advice. This is an educational and entertainment blog. I post my trades and why I trade the way I do for those two purposes. Sometimes you will learn from my good trades other times from my bad trades. But, your investment decisions are YOURS!
2)Stops: These are based upon daily closing prices for ETFs and stock, but are real time for OPTIONS. If peg a stop to a moving average for a specific time frame, then it is fluid and is based upon the final candle for that time frame. For example, if the stop is the 50 MA on the 60 minute chart, then the position remains if the closing candle for the day on the 60 min chart is above the 50 MA on that chart, and it closes out if it is below the MA. However, there are times when one shouldn’t wait for the close: a) should an index break down below a key pivot area that I have highlighted, then one need not wait for the close to exit a position, b) if it is evident that an index will close on the wrong side of a stop, then one can exit. Or, should the indexes impulse in the direction opposite the position.
3) The Portfolio at times will trade against the Alphahorn Swing System, based upon either immediate term indicators and/or Elliott wave counts. These positions should be viewed as high risk entries and like all investment decisions, one should consult their investment advisors and/or consider one’s own risk tolerance before considering such positions. Like everything else on this site, these are not recommendations to trade any particular security.
4) Do not ask me what my indicators are. I’ve spent years developing them and they are proprietary.
5) Averaging Down: In a word – DON’T! NEVER EVER AVERAGE DOWN. If you follow the position sizing rule above then this rule should be implied automatically. Once you’ve invested 2% of you capital your have reached the limit and NO MORE CAPITAL IS TO BE COMMITTED TO THAT POSITION!
Must have missed it. When was TNA mentioned??
May 5 trade update
I’m long TNA and loving it. Thanks Alpha for saving me from going short when I was tempted.
your welcome, thanks for the comment
Agreed! Thanks for walking us through the rough times! 🙂
Well, leading or ending, I am not sure I want to be on that 78.6% retracement train anyway. 🙂
Alpha, what do you think would be a good strategy to protect profits at this point? I do not remember where I read that market tops happen peacefully while market bottoms are usually very violent. If true, I guess watching MACD for negative divergences might help?
thanks, see tonight’s post, and much more to come this weekend.
Hello Alpha,
a new subscriber here. Please let me know how to enter password protected posts.
you should have receive the password by now