Impressive Recovery = New Order

DPR Update:  New order in place, login for details

The story of the market this year is BIG one day sell off’s followed by sharp reversals back to the upside.  The ETF is still underwater from where I last got out, but the strength of the rebound today has caused a new buy signal to show up in the algorithm…..and it must be obeyed!

I have a feeling we are going to chop around at these levels for a few days, but that’s just a feeling, not a prediction.  It will do whatever it is going to do and I will manage my risk responsibly should it fill me and then immediately fall.

The news is all good right now and the buy/sell dollar imbalance at the close had an unusually huge bias to the upside.  Meaning money may pour back in for the beginning of the month, but my preference would be for the futures to continue lower overnight (as they are doing currently as I type) therefore cancelling the buy signal, as always we’ll see.

Bring on them bears I say!

John


Out At The Top…Beautiful!

DPR Update:  Sitting on the sidelines now, no trade

This system surprises even me sometimes…to get out so close to the top of the move is very gratifying and is testament to the 10 years of blood sweat and tears it has taken to write the code for it.  As well as having the discipline to just follow it!

I think there will be another good trade left in 2017, but first lets hope that this is the beginning of a bigger fall to create a Santa rally opportunity in the coming days.

If not I will be looking to re-enter around the $72.50 area, more details on that to come.  For now, I just want to bask in the glory of selling the top!

Bring on the bears!

John


Time to Exit

DPR Update:  I am exiting the trade at market open

Due to the missile news from North Korea, an indicator was crossed and therefore I will be exiting the trade with hopefully a nice profit.  It is currently up 2.65% at the close.  So with a little good fortune I will get to keep most of that gain.

If the market continues up, I will look to re-enter fairly soon.  But for now, time to sit on the sidelines.

Good Trading,

John


Tight Stop in Place

DPR Update:  Tight Stop now in place, login for details

I have moved the stop up beyond the entry price now, therefore, short of a gap down, it seems that this will be another wining trade.  However, I want to point out that I may exit if the price gets close to the $73 area.  So, please be on alert to my emails tomorrow should I need to send one out during market hours as I will endeavor to communicate what I a doing immediately via email.

On that note of communications.  I have surveyed the various ways to stay in touch.  I have noted that some prefer to stay with email rather than a separate app.  Also, the issue with apps is that they are not very sophisticated and have no push verification generally.  This leaves me with text and messenger services that would “pop up” on a smart phone, which I am reluctant to use.  Therefore, I have come to the conclusion, that for now, email will do.  I will re-visit if it becomes an issue for people missing future communications.

Good trading,

John


New All Time High

Image result for all time high market quotes

DPR Update:  Stop in place

A good start in the new trade.  Closed up +1% so far.  This bull just shows no sign of abating in what is a normally bullish period going into Christmas.

I may alter the stop again depending on what happens the rest of the week, so watch out for messages from me even in the daytime, as I may have to alter the stop or get out early.  I will do my best to send out my actions as fast as possible.  In saying that, this could be the beginning of a nice break out higher, so I hope for more.

Bring on the bulls!

John


New Price

DPR Update:  Quick note, lower price set for entry after today’s action, login for details.


No Breakout Yet

DPR Update:  Login for changes, new price set

No breakout today, the market meandered sideways before selling into the close.  In after hours the futures too another step lower, but nothing to influence what may happen on Sunday going into Monday’s open.

My preference would be a gap down to move away from my break out order, but we’ll see.

Have a great weekend,

John


A New Order In Place

DPR Update:  New order in place login for details

It’s likely that the market will once again pull back. However, if it does break out to the upside then I will have an order ready to be filled.   Seems the Tax vote passing today caused quite the rally.  But, we will soon see if it can follow through.

Good trading,

John


Stopped Out for Small Loss

DPR Update: No Trade, Market chopping

I hate getting stopped out in a choppy market, but although it’s a loss, it’s really small.  Not sure what happened overnight, but the market got spooked pretty good and followed through this morning.  It’s recovering now, but not sure there is much more upside here for a bit.  More selling on the way I think.  Of course, if I knew for sure, I’d be a billionaire!

So, let’s see what it does next.  The megaphone I mentioned yesterday printed, and therefore the pattern is muddy.  Time to sit on the sidelines and wait and see what transpires.  It’s always heightened risk when a trend is joined after such a big run up.  Last Fridays pop due to the tech earnings set this trade up to be chopped up, however all signals must be obeyed.

If only it would sell off so I could grab a decent low….maybe this time?

Bring on the bears!

John


New Stop

DPR Update:  New stop

I have lowered the stop for a specific reason.  The pattern is showing a potential megaphone if it closes below the recent low made on the 30th Oct around noon.  I want to force price to close below there before I will allow the trade to be stopped out.  But so far it is looking good.

Good Trading,

John