Thursday Outlook: Commodities, Global Markets

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I think our trusty McClellan Oscillator kept us out of serious trouble so far. It’s still in overbought territory and where we go from here is anyone’s guess. We don’t like losing money even on small positions so I regret, so far anyway, putting anything on.

I did write a commentary last night but screwed the uploading part sufficiently so that it was lost. Rather than writing it all over again or throwing the PC out the window, I had a drink instead. It’s the only sensible thing to do in such a circumstance. And, no, there’s no Sacred Cow for that but I may conjure up one.

Tomorrow there will be no post as it’s a travel day. The layover gets me in too late to write and then it’s Miami on Friday. If you’re going to the Inside ETF conference in Boca Raton please say hello. On Monday I’m the moderator of a panel entitled (Guess what?) 'Create Your Own ETF Hedge Fund'. What a novel idea! But, being that the panel doesn’t start until 5 PM or so I won’t be posting a commentary Monday either.

Have a great weekend and remember, the week’s not over!

Disclaimer: Among other issues the ETF Digest maintains positions in: GLD, XLE, DBA, EWY, EWJ and FXI.

Comments

[ozcutty:]

Nice work Dave, when in doubt have a drink, looks like drink and tobacco stocks are the way to go in 09! Apparently MO is the place to be to ride this sucker out!

Jan 08 05:14 AM

[Anthony Dad...:]

Walmart has rained on our possible parade this morning.

Bright spot Bank of England has lowered rates. Market expects bad news.

I am a contributor on thecreatingwealthblog....

Jan 08 08:10 AM

[johnthebear:]

Any fresh ideas on how the SRS/IYR double shorts are made to function as they do? I finally came to understand that SRS is useful only for short term trading, that longer term price trends of low IYR and high SRS prices are not necessarily going to repeat themselves in any exact way.

Thanks again for your superfine charts. They are a big help to me.

Jan 09 12:28 AM