Thursday, April 2, 2009
Still havent broken out.
$BKX printed a noncomittal candle and it also did not go up too much considering how much the indexes went up. Not super encouraging.
Now the question is we see a breakout. Based on its current zone, it needs to break out tomorrow or it will drop deeper into the box.
Given that there are black exhaustion candles in XLF, UYG, etc. it might be a tall order.
On indexes, v good volume but signs of exhaustion towards the close so breadth wise, positive but the level of strength varies across the board. IYT for example had a v big day today.
I have been stopped out twice in last few weeks trying to short GLD. I have a pretty sizeable position of Nov/ Dec GLD/ GDX puts. Also ha...
I am liking the set up for XLE a lot now and XBI I am hoping for some settling so I can board the train. Maybe within 1-2 weeks? Missed ...
Didn't make any changes Fri except close the GLD short as the miners + silver started showing strength and an oversold signal on the 2 h...