the elliott “PSTT” is back in the short term warning zone for longs. from the above chart you can see that the spx closed very close to an important support zone and is in danger of penetration, the last two closes show some serious distribution as well.
i am currently 50% long (3 stock folios) and 20% short tna from 59.31 this friday morning (the triple leveraged tna is a hedge) for the total portfolio.
$rut, $compq and $ndx are still in short term sell signals.
SPX LONG TERM PSTT = BUY
SPX INTERMEDIATE PSTT = BUY
SPX SHORT TERM PSTT = WARNING FOR LONGS ON VERGE OF RENEWED SELL
see comments from last two weeks to follow recent trades by clicking on the prior post, but here are a few of the pertinent comments:
Submitted on 2012/10/10 at 12:19 am
1. closed out medium risk folio of 23 stocks for a 3.59% loss on a 20% allocation. total portfolio allocation is now 50% long, reduced from 70% .
2. now short tna from 61.43, a 20% allocation.
total portfolio is now 50% long, 2o% short for a total allocation of 70%.
short tna will serve as a hedge for remaining longs and possibly also increase total profits. high risk long folio, low risk long folio and roadmap long folios are all still open.
Submitted on 2012/10/10 at 12:44 am
one more strong close down will trigger an elliott “PSTT” sell warning signal
to be likely followed by an actual sell signal.
Submitted on 2012/10/10 at 11:04 pm
sell warning on spx and dow,
elliott short term “PSTT” sell signal on $rut, $compqx and $ndx.
increasing tna shorts from 20% to 30% on an spx close below 1430 only on wednesday.
long term elloitt “psst” signal= buy
intermediate term elliott “psst” signal = buy
short term elliott “psst” signal = warning, close to sell
Submitted on 2012/10/15 at 7:03 pm
1. closed 20% allocation of tna shorts from 61.43 at 59.46 for a profit of 3.20%.
2. closed out additional 10% allocation of tna shorts from 58.60 at 59.46 for a 1.46% loss.
3. added 20% tna long allocation at 59.47, in addition to high risk folio, roadmap folio and low risk folio i am now 70% long, no shorts.
Submitted on 2012/10/18 at 10:16 pm
stopped out of nugt at 16.26 for a break even trade.
stopped out 20% allocation of tna longs from 59.47 at 61.76 for a 3.85% profit.
i am now back to 50% long , no shorts.
elliott “PSTT” is still on a renewed short term buy signal for spx from wednesday although the russell 2000 and the nasdaq are still on short term sell signals. caution is still warranted for both longs and shorts.
Submitted on 2012/10/19 at 9:47 pm
added tna shorts this morning , a 20% allocation at 59.31. now 50% long (3 stock folios) and 20% short (the triple leveraged tna as a hedge) for the total portfolio.
as you can see the low risk folio shows a profit of 3.99% versus a loss of 2.78% for its benchmark $IWM for the same period.
the other 2 folios of about 50 stocks each also are leading their respective benchmarks.