Really, not dead. Still trading and trying to recover from the economic shitstorm just like everyone else.
The WaveChasing port has gotten horribly out of date (life has been kinda insane of late) and I think rather than trying to get it all back up to date, I’ll instead just start it over with the new year.
In the meantime, I’ll be posting more, I promise.
Back from the beach and getting back into the swing of things. Not surprising that we’re having a bit of a down day today given last weeks rocket-like action!
Sorry there was no 3×2 update Friday night – it just got lost in the shuffle, will get it back up in the next day or so.
Went ahead and set up 2 ports, both are up! (And not just because of the trivia $$) Doing it just for fun and to see what it’s like to actually have $1M to play with.
One is a modified 3×2. Normally I’d run the screen after the close and then buy at the open the next day, but because of the trading restrictions, I run it at 3:30 and the buy at the close. I started this w/5% positions, but the more I think about it, it’s not real money and why not start with a 10% position, and add 5% if re-triggered by the screen.
The other is earnings. Skim through earnings.com for S&P 500 companies that will be announcing earnings either after the close of the day or before the open of the next day. Put in a buy at the close, and then sell at the close the next day. Also started this w/5% positions, but starting today they will be 10% positions.
I’ll post the ports at least weekly, they’ll be in the right sidebar.
Sure I’m doing it – cause it should be fun. Or incredibly frustrating, one of the two.
The only thing that bugs me is that all buys and sells are done at the close. So, any strategy that includes “buy at the open” has to go out the window.
I’m going to be using a modified 3×2 – I’ll be running the screen at 3:30 and what would normally be a buy at the open the next day, will be a buy on close. Sells will remain unchanged, as I already do the sells on close.
Also considering doing a port soley on earnings – not like it’s real money!
ETA: Went ahead and setup a port for earnings. Buy at the close the day before earnings (or day of if an AMC announcement) and sell the next day at the close. S&P 500 companies only.
Futures are looking good, Asian markets on the upside, and if nothing horrible or stupid happens in Europe, we could have a pretty decent open tomorrow.
Maybe the consumer sentiment numbers will come in decently and we could end the week on a positive note.
Not holding my breath, but wouldn’t it be nice? :)
Last year, January/February timeframe, I remember the talk of the rate cut that would happen in March. And if not March, definitely May. This made me smile, not just because of the stock market, but because I was getting ready to put a house on the market, and lower interest rates bring in a few more buyers.
March came and went with nothing.
May came and went with nothing.
August gave us a 50 basis point cut in the Discount Rate, and then finally in September we started seeing cuts in the Fed Funds rate.
Six months of inaction and hyperfocusing on inflation to the exclusion of everything else.
And what do we have to show for it? A Sunday night emergency rate cut, BSC being sold to JPM for $2/share for the sake of an orderly exit, and a Fed that is now in panic mode.
Maybe the next generation can at least look back at this mess and not make the same mistakes.
I attempted to respond to the email you sent me with regards to GorillaTrades & the 3×2, but it was rejected because your mailbox is full – let me know once you have it cleared out and I’ll resend.
OK, so today we had a crappy job number – supposedly the worst in 5 years.
I don’t know about anyone else, but given that they did some big revisions in both the December and January numbers, and pretty much every month they are making revisions to the prior months data – how much faith can we really have in today’s number?
Family crisis is as under control as it can be, should be back home early next week and will have the 3×2 screen back up to date as soon as I can.
