Friday, August 18, 2006

Sell Signal

I got another short term sell signal at the close today. It is possible that this is the beginning of the big decline into Fall that I have labeled C. This rally increased the NDX more than 5%.

At the end of the rally I am at a new maximum level of short-term capital gains for the year. The Roth IRA account has made almost $5000 in profits so far since I opened it in February. My general US trading account still has an all time deficit of around $11000 since I started trading in 1998. But now there is only $6000 to go to achieve my first short term goal of breakeven on my two Ameritrade accounts. The next goal is break even on the taxable account. After that I will look at gradually building up trading with the model to the full scale and opening an account to let me trade futures. The latter are more tax effective than short-term stock trading.

2 comments:

InLibrisLibertas said...

Great Trade! Congratulations.

Still sitting here short, in drawdown :(

mOOm said...

Thanks - I'm down a bit on this trade. If you want to feel better, check the McClellan Oscillator. It fell a little from a very high level. Pretty much has to go down.