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Long EEV and TWM.
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Sold BAC, and XLF today. Only GLD remains.
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Scaled back SPY and SSO earlier this week. Remain long XLF, BAC, and GLD.
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I went into today leaning short the market indexes. Goldman Sachs had other ideas. I'm all in cash. The charts say continue to buy the dips.
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I'm most bullish on the Aussie and through the miracle of options converted 4 thousand US Dollars into 83 thousand Australian Dollars.
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After the "benign" GDP report the US Dollar is tanking. I have reactively and protectively bought FXE FXA in size and FXF FXEY FXC too.
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Long XLF calls paired against QQQQ puts. Financials look primed, and tech looks tired. NASDAQ 2000 key resistance. Dollar for dollar, short.
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This morning I was positioned for the reflation/Asia trade: long FXE and FXA, SLV, SSO, FXI, EWZ, EWH and EWT. But I went back to all cash.
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Based on time, price, and market action, it seems the rally is running out of steam. I'm selling into strength.
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BRIC + HAT. Added to FXI and EWZ. Bought EWH and EWT. Actually sold SLV. Asia is the theme and China is the hub. EWA? RSX? IFN?
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Sold SSO, GS and XLF today. Bought QLD. Added to FXE. Holding EWZ, FXI, SLV, QLD, FXE, FXA, FXC and FXF. Obviously I'm US Dollar BEARISH!
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I'm 100% cash. Both retirement and trading accounts. Don't like risk/reward for currency/commodity/stocks.
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The charts for IWM and QQQQ already have broken above the reverse head and shoulders neckline, suggesting further upside. The SP500 hasn't.
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Going into today the McClellan Oscillator was as overbought as it's been in the past 2 years. I will be buying the pullback at some point.