Friday Roundup: Commodities, Emerging Markets

<< Go back to Part I: Play It Again, Sam

We head into the long holiday weekend with bulls feeling better while bears seem without the muscle to take markets lower. It’s impressive how things continue along the same manner with light volume rallies and heavy volume selling.

I certainly got gold wrong in thinking we’d have some sizable resolution with new highs or a failure based on employment news today. But that didn’t happen. The only good thing is we’re still long GLD.

Next week will be short but those on holiday will start slowly making their way back to trading desks and volume should rebuild as the month progresses.

We hope you enjoy your long holiday weekend and we’ll visit with you again on Tuesday.

Disclaimer: Among other issues the ETF Digest maintains positions in: SPY, RSP, VTI, MDY, IWM, QQQQ, SMH, IGN, IGV, FDN, XLB, XLY, XLI, IYR, XHB, UDN, GLD, DBC, USL, DBB, XME, MOO, EFA, EEM, EWJ, EWY, EWT, EWA, EWC, EWZ and RSX.

The charts and comments are only the author’s view of market activity and aren’t recommendations to buy or sell any security. Market sectors and related ETFs are selected based on his opinion as to their importance in providing the viewer a comprehensive summary of market conditions for the featured period. Chart annotations aren’t predictive of any future market action rather they only demonstrate the author’s opinion as to a range of possibilities going forward.

Comments

[corey mendel:]

Beware. Don't even bother responding to this guy. It's just spam posted all over Seeking Alpha. (DO NOT CLICK THE LINK).

Sep 05 01:44 PM

[MarvinMBA:]

With much action in the precious metals department SLV and GLD along with the uncertain economics and money explosion now and in the future, Mr. Fry should make appropriate comments about the PM segment...MarvinMBA

Sep 05 02:56 PM

[whidbey:]

It was the long weekend, but it is also the edge of fall. The precious metals are on the verge, but can they break 1010? The world wants to know. As it stands this weekend the international markets are flat to up in Asia, and metals priced in foreign currencies are less enthused than in the USA.

EW perspectives say we could finish Wave B up at 11500 Dow, before wave C down. Potentially this is a killer wave, maybe to new lows.

Deflation is still the environment, covering action is required. Cash, short bonds and some gold ??

Sep 05 03:57 PM

[TraderGM:]

Jan Paul... What the hell does your comment have to do with this article. Getting sick and tired of advertising on blogs. Seeking Alpha needs to get on top of this.

Sep 05 07:09 PM

[Jan Paul:]

On Sep 05 07:09 PM TraderGM wrote:

> Jan Paul... What the hell does your comment have to do with this
> article. Getting sick and tired of advertising on blogs. Seeking
> Alpha needs to get on top of this.

Obviously, everything as it is what is driving the charts, economy, and deficits and dollar and future as well as commodities.

Do you not understand that all of this is intertwined and connected and the driving force behind everything going on. There are so many people with myopic views that for decades have shut their eyes to the macro picture that they are part of the reason we are facing the collapse of our government and dollar and economy.

That is why we have to open our eyes and begin to truly understand what is driving the markets up or down. It is why we will see millions blindsided by the market moves that many say don't make sense but, they do, if you look at the macro picture and all the manipulations going on here as well as overseas.

You do realize that don't you?

Sep 05 09:23 PM

[BullnBear:]

The Natural Gas trade has become very sickening, not sure where this will end but my guess isn’t up anytime soon.

The GDX advice from above is well warranted and I thank you for drawing attention to this fact, most GDX advice that I’ve seen fails to mention this.

Sep 05 10:24 PM

[TraderGM:]

On Sep 05 07:09 PM TraderGM wrote:

> Jan Paul... What the hell does your comment have to do with this
> article. Getting sick and tired of advertising on blogs. Seeking
> Alpha needs to get on top of this.

Obviously, everything as it is what is driving the charts, economy, and deficits and dollar and future as well as commodities.

Do you not understand that all of this is intertwined and connected and the driving force behind everything going on. There are so many people with myopic views that for decades have shut their eyes to the macro picture that they are part of the reason we are facing the collapse of our government and dollar and economy.

That is why we have to open our eyes and begin to truly understand what is driving the markets up or down. It is why we will see millions blindsided by the market moves that many say don't make sense but, they do, if you look at the macro picture and all the manipulations going on here as well as overseas.

You do realize that don't you?


BLAH BLAH BLAH... I come here to read Dave's Daily and read the discussions about the charts and or Dave's comments... not to have someone throw out a pitch for some crappy website that you link to over 3 times per comment. Get lost.

Sep 06 12:11 AM