The market took a hard tumble today. In particular, the precious metals-oil-commodities sectors did very badly, which is unusual because these sectors have almost exclusively keyed off of dollar action. The dollar didn't change that much today. This is to note that things are unstable once again. Tomorrow's action is important. An up day and we could see a move up lasting a few days or more. A down day and things could get ugly quickly. Many recent
charts have shown me how ugly things can get—how quickly decent uptrends can turn into washouts. So we're no longer in that sweet spot in the rally. Instead there's the possibility the rally is over, or that there's one more spurt to go. I'm thinking the latter, because we haven't wiped out enough weeks of uptrend yet. So if the market should resume its winning ways tomorrow, hold onto your positions but look to unload them Friday or Monday. We were taken out of SVM for breakeven and RDN for a nice profit.
| Current Holdings |
| Ticker |
Basis |
Closing
Price |
Perf. |
Sell-Stop |
Addl Exit Guideline |
Chart |
| GE |
15.68 |
16.77 |
+7.0% |
16.49 |
N/A |
Chart |
| CPST |
1.30 |
1.41 |
+8.5% |
1.35 |
N/A |
Chart |
| SOLF |
7.71 |
10.05 |
+30.4% |
9.80 |
N/A |
Chart |
Rolling the dice on some more longs tomorrow, looking for a bounce. The charts of the short ETFs are extended.
New Trade Ideas
| Ticker |
Entry |
Exit A |
Exit C |
Chart |
| SVA (Sinovac) |
7.51 |
7.09 |
N/A |
Chart |
| GRO (Agria) |
3.32 |
2.99 |
N/A |
Chart |
Please refer to "How To Trade The Ideas" (right-hand side) to read this table.
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