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The Waiting Game

What a boring day, with NO volume what so ever! Same story, decent earnings, bad economic reports. But they have to be extremely happy with July as the markets are up nearly ten percent.

Feels like the technicals are getting set to breakout above the 200 day moving average, how much above is anyones guess, but I'm not thinking a lot. At least not until we know more about the August jobs numbers.

For now, I'm just waiting to see what tomorrows energy earnings do to the market and will make any necessary portfolio adjustments then.

The best trade I'm watching now is SLV, technically the charts say buy, and the $17 level is HUGE support, so we'll see. I already own a lot, buy always willing to buy more.

Disclosure: Long DIG SLV VXX Short QQQQ XLE XRT SMH XLK