I flipped through the major indexes and the theme I’m taking away this week is that the stars may be aligning for commodities to run another leg higher. I did added to my positions in EWC (Canada) and EWA (Australia) on Friday. I’m looking to get a better entry point on EWZ but it would [...]
I’m going to wait until next week for the confirmation, but the intermediate term bottom I have been writing about for USD may be in. FXE is currently trading below the 50-day SMA which has not occurred since April. Note that there were some very minor protrusions in August and October so we’ll need [...]
If I had to classify my trading style among trend trader, swing trader and day trader, I definitely see myself generally as a swing trader. For swing traders, last week was generally a complete waste of time. The major indexes closed in about the same spot as they opened on Monday.
The good: I played the [...]
Another week passes and it is still very difficult to determine whether to take a long or a short bias this week. We really have a mixed bag. Generally the setups look quite bullish but everything looks way overbought. The equates to sitting on the sidelines and trading alternative strategies since the market cannot be [...]
I’m going to skip the market recap today. The big picture has not changed. The story is that dollar continues to drop and currency funds such as FXB and FXA are breaking out.
Shame on anyone that misses the breakout on IBB from this symmetrical triangle. This one is ripe. Could be a $12-15 move.
SEA [...]