I have to say, I am surprised seeing the USD crash today. It did have a weak bearish wedge pattern but I didn't anticipate this. We are seeing a move up in commodities but not as big as I would have thought.
I hopped into a Jan GDX call spread 15/16 a couple days ago and will hold through turbulence. Hopefully things gain traction unlike when the previous buy signal failed a couple weeks ago.
Potential double bottom with pretty good positive divergence here.
We may be setting up for a bear trap here but there's still risk of gold slipping down to $1000
Buy signal on weekly
HYG showing pretty bad negative divergence although this isn't the best of indicators.
SPY looking likely to get close to support
Thursday, December 3, 2015
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...