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I can't remember whether it was Parry, Andrew 'Colonel-Burger' King or Simon 'Chocolates' Guiliano, but one of the analii at InvestorWeb used to say 'Toot toot' to indicate that he was blowing his own horn. That's where the phrase 'toot toot' comes from in case anybody's wondering.
They also - for a reason that I still haven't discovered - referred to cigarettes as 'darts', and therefore smoking became 'darting' or 'on the darts'. And who can forget "scheisen" and "elephant's" (elephant's trunk... drunk)?
Anyhow... enbough reminiscing... this is about tooting.
Seriously though - picking the bounce...
Anyhow... there's not a lot more to say - guard your gains on the index shorts, and expect a short-term bounce relatively soon. Re-entries will now require a divergence - and I will be back online to give chapter-and-verse details of those very shortly (at which time the gory details will be distributed to subscribers first, of course)....12:41 a.m. Oz time, Thursday)
And then picking the top of the bounce to within tenty Dow points... thusly...
... the thing has opened continuing yesterday's bounce, but this is just a bounce (as I forecast about five posts ago - just to slap late shorts upside the head). Re-set shorts in whatever index you fancy at 10:05 a.m. NY time....(1:42 a.m. Oz time, Friday)
For those of you who can do the sums, that was a 150-Dow-point round trip.
Now I know that ths stops were too tight, but everybody kows that I still haven't reparameterised the Rant machine (I can't do that for a little while because contract rolloever happens soon and I need a few days of data for the June contract) - but the key thing is getting the direction right.
toot toot... (and let us say nothing about the 30year bond, which had us underwater almost the whole session and wound up giving us absolutely NOTHING...)