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TheStockMarketMonitor.com closes its long position Rate Topic:

#1

Group: Guests

Posted 27 April 2003 - 12:45 PM

Perhaps some of you remember this site. By the end of January they went Long. I've been monitoring them for a couple of years and agreed with every one of their signals - except that long on January 29. I even took the trouble to write them and ask them why they did it - and then explain them why every single one of their reasons was wrong. :grin:

Lo and behold, I was right and they were wrong - they were stopped out of their Long position.

They re-entered a Long position later, on February 13. This time I didn't disagree with their signal - although I myself waited a whole month more (till March 14) to take a Long position. They weren't exactly wrong - during this month QQQ basically tested the low made on the day they took their position, while making a slightly higher low. As I've told you before, these guys are pretty good when it comes to intermediate-term trading.

Well, bears rejoice! They have just exited their Long position on April 24. (So did I, surprise, surprise. Great minds think alike and all that. :grin:

) Just like me, they haven't taken a Short position yet - but I expect it to happen soon.

Regards,
Vesselin

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#2 cyclist

Master of Stock Proctology

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Posts: 1,310
Joined: 28-December 01

Posted 27 April 2003 - 06:55 PM

Cool, Thanks for the update

Keep us up to date as to when you get your next signal.

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#3 PileDriver

Professor of Stock Proctology

Group: Banned
Posts: 6,448
Joined: 25-August 02

Posted 27 April 2003 - 07:12 PM

I'm getting an orgy of sell signals.

One proprietary one I use last flashed MAJOR sells:

5/22/01
1/4/02
11/29/02

:lol:

Sure we may revisit SPX 919 but doubtful and if so not for weeks and not until we first receive a nice 10% spanking first.

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#4 richmtn

Clinical Professor of Stock Proctology

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Joined: 24-October 01

Posted 27 April 2003 - 08:54 PM

Dr. B. aren't many of the indicators you watch up in nosebleed terrortory(sic). Some of these things will continue up even after the market turns down guaranteeing impressively overbought levels. In fact if the don't turn lower over the next couple of weeks I will have to conclude that the game has reached new levels of rigging.

Not only is this one in orbit but one would have expected at least 100 more S&P points off of this launch. Very bearish divergence with reality.

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#5

Group: Guests

Posted 28 April 2003 - 06:48 AM

cyclist, on Apr 27 2003, 05:55 PM, said:

Keep us up to date as to when you get your next signal.

These guys are intermediate- to long-term traders (my kind of trading), so their signals change relatively rarely. Their site is free (so far) - but I've found it too much trouble to look at it every day. So, I have registered it with ChangeDetection (a free service) and I get e-mail automatically each time their Web page changes.

You can easily do the same - then you won't depend on me reporting their signals.

Regards,
Vesselin

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#6

Group: Guests

Posted 28 April 2003 - 06:55 AM

richmtn, on Apr 27 2003, 07:54 PM, said:

Dr. B. aren't many of the indicators you watch up in nosebleed terrortory(sic).

Of course they are. But, as the 1999-2000 period has taught us, just because the indicators are suggesting insanely high stock prices does not necessarily mean that the prices should start falling down immediately. :wink2:

That's why I'm waiting for multiply confirmed sell signals. That doesn't mean that getting short now (or even earlier) is wrong; only that it's riskier. I pay with losing some of the trend for more safety and less drawdown.

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Some of these things will continue up even after the market turns down guaranteeing impressively overbought levels.

Yep. Especially some slow-turning indicators like the Summation Indexes and the main BPIs. They will top after the price has topped - just like they bottomed after it bottomed. (Which is why I went long on March 14 instead of on March 12, missing a signifficant up day. But it was worth it.)

Regards,
Vesselin

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#7 The End

Anything is possible!

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Posts: 10,077
Joined: 18-February 02

Posted 28 April 2003 - 07:11 PM

Dr V,

I rode this last wave up 50% straddled. I unloaded alot of that straddle today. We are very close (less then 2%). I am not going to tell the market what it wants to do but, shes close to giving birth here.

NONE of what I type, should be taken as financial advice.

And when you loose control, you'll reap the harvest that you've sown
And as the fear grows, the bad blood slows and turns to stone
And it's too late to loose the weight you used to need to throw around
So have a good drown, as you go down, alone
Dragged down by the stone.

--Waters

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