So, that was a good call
My decision to get out of my 3x long DJIA ETF was a good one. So far it has saved me a little more than 5% of downside. Now I'm waiting for a buy signal, but I'm still a little nervous. This is because of all the bearish divergences I'm seeing on the longer term charts (I'm talking about charts looking back over the last year.) We are also starting to hear a lot of negative comm from the news outlets about the market and an expected horrific earnings season. There have, indeed, been a lot of pre-announcements of bad earnings, but that just leaves the door wide open for some "unexpected" beats propelling the market higher, for better or worse.
Here are the daily scores:
All three of my calculated scores turned some shade of green today. Previously this indicated that we are due for a bullish reversal of direction. However, I will heed my own advice and wait for my established buy signal before getting into a long position. That could happen tomorrow, but we'll have to wait and see. If I do decide to jump in during the day tomorrow, I'll post an intraday update.
TSP GAMEPLAN: 100% G fund, but ready to move into C fund soon
GOOD LUCK TOMORROW!
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