We Are Nibbling On Stock Market Shorts
Stock-Markets / Stock Index Trading Sep 14, 2009 - 03:49 AM GMTBy: Bill_West
Trade Actions:
Buy GAZ ( Natural Gas ETF ) at 14 or better
Buy SEF ( Short Financials) at 46 or better
Buy MYY ( Short Midcap 400) at 47 or better
Buy DOG ( Short Dow ) at 55 or Better
Buy AGA ( Ultra Short Agriculture) at 43 or better
Market Outlook/Potential Opportunities:
Gold has broke out of its pennant formation, which started this past February and appears ready to accelerate to the upside. I am having a hard time believing it will be this easy. I am long term bullish, but I still believe that a longer term pennant formation going back to March of 08 might prevail and push Gold back down to scare out all the longs before the major move up, with the ultimate move up not starting to the second quarter of 2010. That is why I am a little reluctant to play gold at this time. But we will see
It appears just when everybody is throwing in the towel on natural gas, that it might of made a bottom. We are going to try and get long again on GAZ. We also got stopped out of our short oil position
Well we are officially long a couple of funds that are short the US stock market. The market is overextended and ready to crack down. In case it does not and rallies some more, we will enter a couple more shorts at our price.
Agriculture commodities are in a downward spiral and we are trying to enter Ultra-Short positions in them
Current Long Portfolio:
Bought SH ( Short SP ) at 57 It closed at 57.1
Bought RWM ( Short Russell ) at 48 It closed at 47.8
Long NLR ( Nuclear Energy ) @ 23.4 It closed at 24
Sell stop at 22.5
Current Short Portfolio:
None
Recently Closed Positions
Buy DTO (Ultra Short Note on Oil) @ 80 Sold at 79.9
Bought DZZ (Ultra Short Note on Gold) @ 21.2 Sold at 19
Bought ITA ( Aerospace ) @ 41 Sold at 45.2
Short RJA ( Agriculture ) @ 7.1 Bought at 7.1
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Thank You
If you want to contact me send me an e mail bill@stockbarometer.com
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