If the market makes a higher high above today's high, market could rally till June 5 (ECB decision day). This will be interesting, as we will see the sell the news reaction. Today's rally shows market strength in face of a very negative GDP number.
Among all the uncertainty, IPM trade Matrix remains long and will exit the trade at stop levels. Overall, we are ina strong market and people should take it seriously. But I guess, not taking it seriously is the major reason, why its doing so well right now!!
Will talk about Dennis Gartman & his latest bond prediction!!
IPM Trade Matrix 2014 Trades
TRADE - 1: (Long) = +2.6%
TRADE - 2: (Short) = +9.3%
TRADE - 3: (Long) - Non IPM Trade Matrix trade = -0.2%TRADE - 4: (Short - 1/31/14 to 2/5/14) = +7.25%
TRADE - 5: (Long - 2/11/14 to 2/22/14) = +9.8%
TRADE - 6: (Long - 2/22/14 to 3/07/14) = +11.7%
TRADE - 7: (Long - 3/18/14 to 4/11/14) = -18.1%
TRADE - 8: (Short - 4/23/14 to 4/28/14) = +11%
TRADE - 9: (Short - 4/30/14 to 5/12/14) = +0.3%
TRADE - 10:
Bought TNA at 68.5. More longs were added at 63.5. TNA Cost Basis: 64.7. Exited 25% longs at the close on 5/23. All longs will be exited if trailing stops are hit.
TRADE CONDITIONS
When: IPM Model Bottom window - Date info e-mailed to subscribers
When: IPM Model Bottom window - Date info e-mailed to subscribers
Next IPM Turn Window: Top
Trigger: SP500 = 1876, GDOW = 2535
Supporting Indicators: 8/4 Test negated. Uptrend reinstated.
Trigger: SP500 = 1876, GDOW = 2535
Supporting Indicators: 8/4 Test negated. Uptrend reinstated.
PROFIT TARGETS
Profit Target 1: 1930
Profit Target 2: -
RISK
Stop: SP500 = 1862, DJIA = 16342, GDOW = 2513
Trailing Stops: SP500 = 1912, GDOW = 2561
Typical IPM Trade Matrix Risk: -
Actual IPM Trade Matrix Risk: 0% (Entry = 1879 , Exit = 1904 , Risk = 0% )
Risk Reason: Ending diagonal pattern.
Applicable Rule:
- Sell (1/2) at profit objective 1 to minimize draw-down
- No Trade in opposite direction
- Do not go long or short without trigger to prevent losses by market moving against you.
- Observe stop-losses to minimize draw-downs
- If stops are hit ==> Wait on the sidelines for new opportunity near IPM Turn window
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"Dennis gartman said yesterday that one should be long bonds $tlt. Where was he in March, when I went long $tlt." Perhaps he had computer problems...or software issues...or perhaps his school load became too much and he couldn't update his blog for whatever reason. :)
ReplyDeleteNaqvi - does that tza trade count? Exited $tna, entered $tza. Per IPM trade matrix.
That trade was exited at end of day at slight profit as mentioned on twitter because DJIA made new highs. IPM turn window was emailed to subscribers.
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