88 thoughts on “SMT portfolio update

    1. Gary Post author

      A $1000 account is $17,000.

      No way I would risk real money on the kind of risky strategies we use in the Quest.

      If we get to $100,000 then we will have made some real money but never risked any substantial money. And by now everyone has pulled their subscription fee and initial stake back out so everyone is playing with the houses money from now on.

  1. Joseph

    Steve, cover shorts or a portion into noon time
    OIL will stay depressed today
    It’s approaching 11am so UK folks etc…
    It broke 2042 emi I so this is good for short but could be a trap….
    Out with 14 emini pts on 2 contracts
    Badabing bada boom

        1. Gary Post author

          This is exactly why we only start with $1000. I knew it would take multiple attempts to reach the goal. But once we do the reward will far outweigh losing 3 or 4 times.

  2. Joseph

    Well done Gary, Really impressed
    Will continue to follow site and when the time is right for me I will join your Premium site
    Prior to joining Premium site when ready
    I Will ask and ornsuggest to see a few reports showing great calls and bad calls during UP moves, down moves and sideway markets……
    Thanks again

  3. Alexandru Popovici

    early next week I’ll :
    – re-short gold and
    – buy ERI and some IBB on post-breakout pullbacks converging in time with DCL in NYSE –> THAT WILL BE THE TIME TO BUY, NOT EARLIER –> VERY LOW RISK WHILE POWERED BY STRONG MOMENTUM!!!!

    If a trader does NOT have a low risk and ALL conditions for a strong momenum, should not proceed to sail his ship.

    I will keep though small positions in ERI and IBB because I do think we are in a dead-cat bounce to top relatively soon.

    1. BILL

      Ya my meager 300% return the last 6 days was a big mistake for being to early…

      Still long even with that percentage we are going to 60 easily..

  4. Chris

    If market continues to be weak, this uptrend will be in jeopardy. And we have to question the bullish case.

      1. Gary Post author

        Still just trying to move down into a DCL. Don’t read anything else into it. DCL’s are profit taking events. That’s all.

    1. Gary Post author

      The market is still trying to move down into a DCL. Don’t read anything else into it.

  5. Walt

    Still short s&p since 2070 . Whipsawing will continue , so leveraged vehicles will suffer decay . Gold is at an interesting junction here .

  6. Chris

    Phew, so far market is still being defended. Hope it sticks til the end of the day. There are certain levels that if breached, would put this uptrend in jeopardy. Let’s see.

  7. Stevie

    Covered my 300% short SSO at 63.08 for +5% gain. That’s 13% in less than a week. Will short it again if it bounces into the close.

  8. victor

    covered LABU shorts at 35 and bought long 34.95 still thinking it’s going to go down more, but it’s o’k, will keep it for now…

  9. Stevie

    This market isn’t going anywhere without the banks.
    JPM warned this morning. Gary only talks about his gains, what about the losers Gary?

    How’s your erx energy play?

  10. Joseph

    Not breaking 2035-2030 emini
    Be careful here shorts
    Remember, the war in the emini is against the big boys….. 4-6pts a day is awesome
    Don’t always get 14pt days but it was clear to me…..

    Congrats to all who made even a few bucks, well done !!

  11. Tom

    If true, good job and we should be seeing Gary on CNBC any day now. Because nobody else is having that kind of success in these markets right now.

  12. Joseph

    This tape as I see it is were going to close down harder 3-4pm and I will be buying Long to the 18th or so as a high 2080 can be made
    Next week is OPEX 15th….
    Note on the 17th there’s a big OIL mtg…..ets see if 3-4 takes us down……

  13. Alexandru Popovici

    I agree with gary that this is merely a profit-taking event down into a DCl and that we will see a higher DCH.
    We disagree though on what lies after.

  14. Joseph

    If 2030 breaks then it’s going to 2012-2000
    I think 3-4pm market turns down and if it holds above 2035, Im long to April 15/18 ….
    Still all long OIL… Regardless

  15. Punster

    Some of you kids owe Stevie an apology.

    Speaking of kids…anyone heard from Jorgy? I just looked at $DUST…ouch that poor kid has really been donkey punched.

    1. Stevie

      I warned them.

      Of course Gary will say this is another DCL coming…
      Until we keep dropping…
      Then he will switch to “manipulation”…yada yada yada.

      Nov 2014..spx at 2055.
      As of right now spx is at 2037.

      Who’s fighting the tape?

  16. Joseph

    2035 broken….. If 2030 taken out…..we shd go to 2012-2000
    Like I said a few days ago

  17. Stevie

    Anyone that takes advice that charges 30 bucks a month needs to get their heads examine.

    We are now below Yellen speech.
    Euro and Japan are 30%-40% their ATH despite NIRP. Our markets have been swimming downhill for 15 months and this guy is selling hopes. Nasd 20k?

    Just like his Gold to 5k call in 2011-2013..Pure snake oil salesmen.

  18. Joseph

    We hit 2030, I called a down hard day from 3-4, let’s see…..
    DOW transports down 6 days in a row…..
    I’m not shorting here, 2030 needs to BREAK
    After short term low….Up into April 15 OpEX
    Next main low Possibly is Week into April 22nd,
    Let’s see…..

  19. mj12

    What part of this don’t you get Stevie boy…………

    This is a FREE site……..FREE…….

    What an asshole.

  20. Stefan

    Oups I JINXED it for ya folks …hopefully a better day tomorrow !

    April 6, 2016 at 6:57 pm
    In EW terms it looks like Spx is losing steam, interesting day later today πŸ™‚

    Reply ↓

    April 6, 2016 at 7:31 pm
    Not on the the monthly, looks to me Gary’s break out call is coming


    Reply ↓

    Gary Post author
    April 6, 2016 at 8:17 pm
    Just keep trying to call a top. You may manage to miss the entire bubble phase if you try hard enough. πŸ™‚

    1. Richard

      That was one that I was involved with 5 years ago and took it off my screen over the past years.
      Watch the 2.50 level.

  21. Walt

    Still has a ways to go before I get bearish .
    1980-1990 . Still think I’ll have to cover in the next couple days . Like I said , I’ll be long IBB when I cover my s&p short .

  22. Walt

    Boy , I’ve got to hand it to gold though .
    Been driving everyone crazy this year .
    Commercial shorts must be exasperated

  23. Walt

    If the dow doesn’t hold this level here , next stop down is 17,250 . If we close the week at 17250 , that would be bearish

  24. victor

    this blog has a civilized arguments between Alex and Gary that everyone respect. No names call or other vulgar words but just normal arguments between experienced traders that we observe and learn from it.
    Please stop posting rude comments, inside of you is a very nice person living …

  25. harry

    steve, keep it civil or you’ll get knocked off site. Steve too early for the big selloff, will likely rally first into option expiry, if holds below recent highs and commences new selloff in week following watch out as it is operating on fumes.
    Gold will keep floundering, oil may have seen it’s rally top and will lead spx lower in next week or two. Gary predicted blow off top is nonsense.
    transports already hitting skids ahead of dow, Nasdaq and rut next in line.

    1. victor

      I don’t like how IWM and MDY acted…, it looks like continuation follow…, still thinking one more leg up to short SPX…

    2. BILL

      Lots of doom in this post…matter of fact lot of doom talk pretty much all day here..

      GO LONG FOLKS! the noise makers are calling for another leg down! trust me I have followed these top callers since 2005 and since then they have been WRONG on every call, the louder they get the higher this thing goes…

      Interesting FED meeting going on after the market closes…

      1. victor

        hopefully you right …,
        “Tesla picks up 325,000 reservations for Model 3” – isn’t that good? Glad I bought lithium stock up 45+% in abt two weeks…

  26. Joseph

    Oh boy, Bloomberg, CNBC, CNN, BNN all saying BioTechs….. I hate when this happens as too many start to hear about this good Call Gary made.
    I guess it’s good and bad….
    LOOK….. Basic trading rule, we broke 2030, were .coming dn at least 2-4%……..NOT Next week…..
    Closed above 2030-2035 emini……. Thats why I didn’t go short again as these big boys play….
    Week inro April 22nd. Lows of April….
    That’s my play, Your. CAll : )

    Congrats to all who made money today
    Well done !!

  27. Don

    Stevie is the man! He has been playing the market and calling his moves in advance. Nice move down today. Stevie, did you close out your short position today?

  28. Alexandru Popovici

    ERI is acting great:
    – shallow pullback on moderate, I.e. about 1xATR, pullback down to a DCL of NYSE,
    – average volume
    – invalidated the last breakout,

    While NYSE is close to complete its decline – THE LACK OF SIGNIFICANT REPORTS ON MONDAY AND MOST OF TUESDAY will provide the requisite vacuum for the market to do its thing down into the DCL.

    PS: IBB falls short of being a darling because of massive overhead supply. I think I will overlook it from my shopping list on late Tuesday because of this. ONE CAN SEE THE DIFFERENCE OF UNDERLYING MOMENTUM BTW ERI AND IBB! Biotechs are not still there to qualify for my shopping criteria: VERY LOW RISK WITH STRONG WIND. Buying at bottom usually does not provide this mix of criteria, it is only for show.

  29. MuffinTop

    LABU is a ‘hold’ folks…

    You are wasting your time trying to Daytrade Biotech. You should be riding the trend right now; it still has a long way to go, with a few minor corrections along the way πŸ™‚

    Sit back, relax and pull your finger off the trigger you adrenaline Junkies!

    1. Bill

      Long and strong muff we’ll be deep 40″s and the jokers wold crew will be calling top once again lol

  30. Don

    I am still holding on to my SRTY. I will be surprised if we don’t see a follow through on Friday with more ugly downside. On the subject of the Bio techs, there sure isn’t a shortage of analysts calling for further gains in that sector. I just can’t bring myself to buy what everyone is suddenly in love with after a 30 week decline. It reminds me of the how the gold miners declined over a five year period with plenty of rallies that looked convincing to excited analysts and investors alike. I seem to recall Gary getting fooled a few times by false break outs.

    1. Bill

      Yes cause after a 38% drop and a measly 5 day push in the other direction suddenly it’s a bubble again lol you site are hilarious… More that folks a 38% drop and a 5 day retrace-meant we are laughing …

    2. Gary Post author

      Then why didn’t you buy when it was low and no one wanted it? I tried everything I could think of to get people in.

  31. Duuuuuude

    This site is dedicated to capturing long swings. If your thing is day trading or going short, why do you bother reading SMT? For those of us who are here to capture swings and ride a bull, all that other stuff is nothing but crapola. All the crying to Gary because he did not recommend you to go short at 10:57 and exit at 1:24, you have got to understand that is not what Gary does. I hear over at slope of hope they talk trading short all the time. Maybe you should check that out.

    1. Bill

      Gee I just checked out SOH been years since I was there , now I know why I left short sell traders are such vermin….

      Guy grabs an IBB chart draws a red line down and calls that TA lmao

      1. MuffinTop

        And they don’t even provide an explanation..? Weird.

        Ps: I think Stevo should go and hang out on that site — he seems like the type πŸ™‚

    2. Don

      Baloney, Gary went into LABU , sold it and then bought it back again all withing the space of a few days. Isn’t that what you would call ‘day trading?’

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