Price is the most important thing. There is no need to make things much more complicated than that. This includes not even listening to financial news or watching CNBC. Just watch price and look at the charts. They reveal all you need to know. And of course, don't trade based on what you find here, if you don't know how to trade then learn how; this blog is not intended to provide financial advice to anyone who might happen to read it.
Monday, January 9, 2012
I'm a flip flopper
Well, I bailed on DUST now. With bulls and bears locked in a battle between 53 and 54 on the GDX I decided there wasn't enough clarity especially after what I would consider a positive day in the markets today. I am now long emerging markets via EDC because I think they will move the furthest and fastest to the upside if we get going here. The EEM is in a nice little triangle with what I believe to be about a four dollar upside potential if we break to the upside. The dollar looks very over extended here so I did not want to be shorting anything gold related. I think the US markets look poised to reach last year's highs at which point I would just have to take a wait and see approach along with the other 99% of the trading world that doesn't know what the insiders are going to do next. I think if we reach those levels the VIX could be diverging quite dangerously as I think it already kind of is. Like Eric the midget from Howard Stern says: "Bye for now".
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment