With the market hitting new highs and many big cap stocks also hitting new highs I suspect a lot of people are afraid to take big new long positions at this point for fear of ‘buying high’. I have been studying the UNG for about a week or two and the tape action in recent … Read more
I decided to go long TLR Timberline Resources right now for a while. This is a trend trade and I intend to hold it through the end of this year. I expect the gold price to maintain a bullish bias going into the end of the year and into the first quarter of next year … Read more
This past weekend I looked at every single stock in the SP500 one by one. It occurred to me after looking at all of them that they were in a stance to move higher after significant consolidations during the last half of October. Sure enough today we get all indices moving higher and a few … Read more
I had to close out my shorts very early this morning near the open. I thought for sure that the nasty intraday bearish reversal we saw yesterday on the Fed decision would set us up for a really hard down into Friday. But now it is looking constructive again and I gotta tell you in … Read more
Today was yet another interesting day in the market. I went short the XLF near the close with a bunch of put options and also went long the TZA again. The bears in my opinion won the day. We continue to see a market that keeps doling out positive news and yet the market continues … Read more
I close out my bearish short positions today in TZA and XLF. I may go short again tomorrow, but for now it looks like this market is getting set for some kind of an upside bounce on the Fed decision. It could flip either way at this point, but the decline so far has been … Read more
The US Dollar UUP ETF may be forming a small head and shoulders bottom formation that is almost near completion. At previous points in the chart one could have said the same thing but then the dollar just kept breaking down again and again. The only thing different about this formation now is that the … Read more
I have been studying the stock price charts of the period 1987 and the current time frame on the S&P500 the last couple of days and also 1929 and I cannot help but think we have the potential for some sort of repeat this week. For a while now I have been running with the … Read more
Did you ever use to watch those nature shows on PBS where they showed massive herds of animals in Africa? I used to watch those shows as a kid and it was always somewhat fascinating to see those large herds of animals feeding there but then suddenly get spooked and almost ALL at ONCE start … Read more
I am thinking that 1080 could be an almost perfect new shorting level if we are lucky enough to see this level either tomorrow or on Monday. The volume on the reactionary advance today was in typical weak fashion and if you are a bull, does not inspire much confidence going against the 3 recent … Read more