We bought some TNA today. The following explains my portfolio as of today's close:
Long Term - Big troop dolloar amount allocation:
- TLT 50% (10%-04/10, 15%-05/01, 10%-05/09, 15%-05/10)
- SPY 25% (10%-06/11, 15%-06/12)
- EEM 25% (06/15)
Medium Term - Small troop stock holding:
- TQQQ (06/11)
- FAS (06/12)
- TNA (06/19)
The market has been moving up as what we expected since last week. Russell 2000 also broke out the neckline (05/29's high) of the Inverted H&S bottom with decent volume and closed above the neckline. The bull run looks healthy, so we continue looking at our target: 06/20/2012 and 1374.
Wave count:
Today's high = III.3
Now we are probably in the middle of III.4 and looking forward to seeing a III.5 tomorrow.
(Note that this scenario will be invalid if the market falls below the right shoulder - 06/12/2012's low).
Snowrider laoda
Admiring your trading. Have been following but not able to post during day time.
As I have TLT & TNA, just want to ask you, what is the stop lose price (my entry was during the last few days)? Would it be the June 7/June 13 low for TLT, 124.38?
What about TNA? I'd like to learn how to set stop, as often one big lose kills my profits from other holdings.
Thx in advance.
thomast 发表于 2012-6-19 21:37
Snowrider laoda
Admiring your trading. Have been following but not able to post during day time.
A ...
thomast - You know that we are applying Elliott Wave analysis to our trading. When a trade is being entered, it has to be based on some wave count assumption. Since we have an assumption about how and where the wave should go, we know when our assumption beocmes invalid. In other words, we can validate our assumption against the Elliott Wave Principle. Now you know where the stop order should be placed - the stop order should be placed at (or behind) where our assumption becomes invalid.
For example, as of today (06/19/2012), we are seeing that the market is marching north in an implusive wave structure, I would place an stop order below 06/12/2012's low (the right shoulder). If the market ever falls below that price, our preferred scenario becomes invalid.
So I sold 1/2 of my TLT holding. I don't know what was going on with my desktop computer or the blogspot website. My screen freezes very often when I access blogspot, and that was what happened just now when I was about to post. Now I am on a different computer, and so far it did not seem to have problem.
狗仔卡
发表于 2012-6-19 09:37 PM
发表于 2012-6-20 12:37 PM