08/11 Member Discussion

[Steven Vincent]

Post your thoughts, ideas, commentary and research on the markets here.

[J CHAN]

Excerpt from Stockcharts.com:

"Wilder also considered failure swings as strong indications of an impending reversal. Failure swings are independent of price action. In other words, failure swings focus solely on RSI for signals and ignore the concept of divergences. A bullish failure swing forms when RSI moves below 30 (oversold), bounces above 30, pulls back, holds above 30 and then breaks its prior high. It is basically a move to oversold levels and then a higher low above oversold levels."

 

We did not hold above 30 the day before yesterday, . . . not perfect.  But yesterday did engulfing the prior day's action.

[J CHAN]

$VIX dropped 10.67% while VXX dropped only 1.72%. Really?  The company behind VXX is stealing from people at all times, just like those behind the 3x ETFs.  Avoid it at all possible.  Can someone let me know what are the alternatives to VXX and is there an inverse ETF for $VIX?

[Robert Segal]

check out XIV.

[J CHAN]

Thanks.

[J CHAN]

 

Yesterday, Dr DiLiddo, Chairman of VectorVest, has made the following buys in his model portfolio:  EDC, FAS, BGU, SSO and QLD ahead of VV's own upcall, which is about 1% away from happening.  Shorter beware.  You think Mr. DiLiddo is smart enough to be sucidal?

[J CHAN]

I am sorry that you don't have judgement to judge things by yourself.  If you have been mislead by me, I am sorry. 

 

Mr. DiLiddo is an authority in market timing.  This is a fact. He made the stated trades in his model portfolio on 8/11/11 as stated. That is also a fact.

 

Every one speculates. You don't like my tune. Tough luck. This will be the last answer to your reply.  Thank you.

 

Alpha 20 Holds has a performance record since 5/19/11. You can examine it at any time.

[J CHAN]

 

Mr Sy Hardings indicated in his blogs this weekend that he covered his shorts on Thursday and will stay in cash waiting for the end of the relief rally.

 

It is very smart for Steve to allow for discussions and postings to the BBT as it generate content without much work on his part.  I googled "RSI Swing Bullish Buy Signal" for additional research and stunned to see BBT was on top of the search result.

[Steven Vincent]

Trading of any kind is fair game here, Steve.  Not just EW.

[Steven Vincent]

Sy Harding is a permabear.  Don't pay attention to permas.

[Steven Vincent]

It's very easy to get into trouble using EW as most do.  If you start with any kind of a bias you will inevitably count in a way that reinforces the bias.  To remain objective, it's crucial to maintain both bullish and bearish counts and use traditional TA to confirm your preferred count.

[J CHAN]

The sudden drop on May 19, 2011 caused Mr. DiLiddo's positions to stopped out at the open at an 16% loss on that day.  But the short term bottom call was not wrong as the low on August 9 was not revisited.  A simple reliance of indicators without understanding of Elliot Wave seem to be be inadequate as indicators do not offer sufficent indication of the level of risk.

[MrKarwai]

Hi all,

 

Need some help here; have been using CFDs for a while now but am now transitioning to ES.

 

I know just about everything except how one does rollovers on Interactive Brokers? (I know the dates and expiration etc)

 

Thanks in advance.

 

Karwai