Wednesday 17 July 2013

Still no signal

Even though the DJI broke the resistance line almost two weeks ago, and it has touched the buy signal on an intra-day basis, it has failed to close above my signal level. I have therefore chosen the cautious route and have bought nothing in the US market. Probably a good thing since the market looks as though it lacks the will to climb to the high achieved in May.



I am also regretting buying into the UK market. You will recall that I do not have a system for entering the market and so I winged it when there seemed to be a strong push through resistance. The UK market is also softening and one of the picks THT has chalked up a 15% loss since I bought it on 8th July. Overall I have had only 2 winners out of 10 and my net loss has been 2.5% while the market has pushed up by about 1%. Net result: I am not a happy bunny.



Without the Simulator to test my systems in the UK I have no idea whether I have done the right thing and been unlucky or whether going into the market was a mistake. What I do know is that in the US my timing system has kept me out of trouble. In contrast Vector Vest's Sure Fire Success Action plan has been signalling buy for 5 out of the last 6 days. Only time will tell if my S&R timing system or VV's SFS have given the best advice.

For now all I will do is review the big loser on the UK market and and decide whether now is the time to dump it, or is it on the point of regaining momentum. You can see from the graph that it is possible that a bounce will occur so I might give it a day or two to work out.




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