Tuesday, May 12, 2009
The fast line printed a red line today. This indicator tends to lag at least a few days but is fairly reliable of marking an intermediate trend. What it doesn't do too well is give one an idea of how long or fast a trend will go so it is something I use just as reference.
When the lines cross, that produces the second level of confirmation.
That having been said, I did close out my RIMM puts and sell my TWM on the large move today. Will look to reload at a better price but does appear a correction of at least a few weeks is on its way.
Financials and energy also look to be correcting/ consolidating for the intermediate term soon.
at May 12, 2009
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...