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For the chartists out there....Up as usual watching how Europe acts to get a gauge for the trading day ahead of me...Thought I would post two little charts something to look at...kind of stuff...I sent these to some friends a few days ago...One from June 30th and other from Thursdays close. Happily in hedged cash, hedged currencies, treasuries and hedged commodity positions currently....Index intra day trading only still...No long stock positions since liquidation

$COSTAverageMAN
 

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We have seen some amazing moves over the last 9 days from July 8th...We had a very nice reversal on the 8th...My tracking portfolio that day showed me a 17% sell off on a basket of momentum stocks from the point I exited...It closed on the 8th only being down 14%...A good sign a bounce was due...

Now we are almost flat on that same basket and I'm begging to see some names rolling over

I'm taking most longs off today and may be looking to go short soon.....Dollar still rolling over hard and the hedges are working great for my cash positions...Commodities started to put back a few hedges in those today, but these hedges are changing every few days....All in all most commodities look a little over bought..

Ags still look cheap, metals look rich, Oil just a tough one, Gold and Silver look strong, but started hedging here today little by little...Long dated Treasuries got put back on today...

Good luck with the rest of earnings season I am trying to be flat stocks going into the rest of them...GS upgrade to 1060 good sign for me to leave...

BTW the head and shoulders did work for almost a 8% sell off in the indexes and that was more than a nice move for a technical pattern in this market..

$COSTAverageMAN
 
Quote from $CostAverageMAN:

We have seen some amazing moves over the last 9 days from July 8th...We had a very nice reversal on the 8th...My tracking portfolio that day showed me a 17% sell off on a basket of momentum stocks from the point I exited...It closed on the 8th only being down 14%...A good sign a bounce was due...

Now we are almost flat on that same basket and I'm begging to see some names rolling over

I'm taking most longs off today and may be looking to go short soon.....Dollar still rolling over hard and the hedges are working great for my cash positions...Commodities started to put back a few hedges in those today, but these hedges are changing every few days....All in all most commodities look a little over bought..

Ags still look cheap, metals look rich, Oil just a tough one, Gold and Silver look strong, but started hedging here today little by little...Long dated Treasuries got put back on today...

Good luck with the rest of earnings season I am trying to be flat stocks going into the rest of them...GS upgrade to 1060 good sign for me to leave...

BTW the head and shoulders did work for almost a 8% sell off in the indexes and that was more than a nice move for a technical pattern in this market..

$COSTAverageMAN
More...

amazing how you are always selling after rallies and covering shorts after selloffs. perfect timing.
you know. very few people on elite trader get away with such after the fact trading tales without getting called on it. must be because you seem to be a nice old fellow.
 
Vhehn, Your a long time reader (thanks for that)...I'm sure you know how I build my positions/portfolios and for that matter how many positions I am usually holding on any given day. That being said There is no reason for me to come on here to post something like
"Sold TCK@XX.XX It's rolling over" "sold TXN@XX.XX before earning"
This journal would of turned into a pile of trades with no real way to track them over time...Instead I use it to just let others know (if they care) when I'm heavily reducing my long positions and a simple gauge of how I am feeling about the different markets...It's very hard for me to point out the bottoms as I struggle with just plowing in 20-50% of the portfolio in the market on stock positions in one single day, usually just like everyone else I'm chasing for days getting the portfolio to where I like it...Selling for some reason is much easier for me to take gains/losses in big chunks... Today was just one of those days and the reason for the post

Pretty Simple, Not to much work, usually pretty accurate and I enjoy the challenge of making it public.

$COSTAverageMAN
 
Cost,

Great timing as always on your trades.....thanks for sharing. I have been following this journal since you started it and am trying to learn from it to help me become a better trader. If you don't mind me asking, were you at one time a professional fund manager or technical analyst?

jas
 
Quote from $CostAverageMAN:

Vhehn, Your a long time reader (thanks for that)...I'm sure you know how I build my positions/portfolios and for that matter how many positions I am usually holding on any given day. That being said There is no reason for me to come on here to post something like
"Sold TCK@XX.XX It's rolling over" "sold TXN@XX.XX before earning"
This journal would of turned into a pile of trades with no real way to track them over time...Instead I use it to just let others know (if they care) when I'm heavily reducing my long positions and a simple gauge of how I am feeling about the different markets...It's very hard for me to point out the bottoms as I struggle with just plowing in 20-50% of the portfolio in the market on stock positions in one single day, usually just like everyone else I'm chasing for days getting the portfolio to where I like it...Selling for some reason is much easier for me to take gains/losses in big chunks... Today was just one of those days and the reason for the post

Pretty Simple, Not to much work, usually pretty accurate and I enjoy the challenge of making it public.

$COSTAverageMAN
More...
i understand you dont want to run a short term trading journal. we need longer term traders on this site and i encourage you to continue but please dont post things like "No long stock positions since liquidation" and a few days later your next post is "I'm taking most longs off today and may be looking to go short soon.....". it strains your credibility and is of no value to those following you.
 
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