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Momo's keep breaking down. Shorted LKND this morning. Add it to CMG and AAPL as momo market leaders continue showing weakness. Apr 23, 2012
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Shorting CMG here at $423. Now short both CMG and AAPL - playing with "momo" fire. Apr 20, 2012
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Funny/bizarre that with S&P up .4%, TZA (3x small cap bear) is green and TNA (3x small cap bull) is red. Dec 23, 2011
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Welt on Gold Support Trend Lines Thanks for the chart. I have a lot of faith in ...
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Grains Ready To Push Higher?
After bouncing off multi-year support and breaking above resistance, JJG could be ready to finally push higher.
(click to enlarge)
Disclosure: I am long JJG.
Hello, Mr. Bear
Wow, an awfully bearish day for the charts today. The huge wick put in place in SPY today looks AWFULLY toppish. We'll see what kind of follow-through we get in the succeeding days.
(click to enlarge)
Also, AMZN, which has traded in a falling range during 2013 has predictably reversed course at the top of its range.
(click to enlarge)
Good for the bears who finally have a winning day. If only a day.
Disclosure: I am short AMZN.
Sell GLD (Not The Real Stuff), And Buy TLT?
The equity market looks pretty benign today, but the bond and commodity markets have all kinds of interesting activity. The commodity markets continue to get punished. Copper is continuing its sell off from yesterday. Perhaps even more interesting is the action in GLD. After its initial plunge in March, GLD rallied fiercely back to the trendline it had broken. Today (and this week generally) it is selling off hard. Is this the "kiss goodbye" (as Chris Kimble calls it), signalling new lows to follow?
(click to enlarge)
On the other side of the inflation question, Treasuries are also selling off hard. What's up with that? However, instead of being rejected at a major trend line, 30 year Treasuries (TLT) have retreated to one. We will see if it holds.
(click to enlarge)
If TLT fails to find support here, it bodes very poorly for the price as there is a multi-year Head and Shoulders in place. To further complicate the conflicting signals out there today, JNK is also selling off after hitting resistance. Turns out all the fun is outside of equities today.
Disclosure: I am long TLT.
Additional disclosure: Also short GLD