Friday's action was similar to Thursday's, but in reverse. We got relentless buying almost all day long, but tempered, lacking intensity. Looking over the charts, I see a divided market. Commodities, basic materials and the financials soared, but other sectors, most notably semiconductors, performed poorly. This type of divergence can't continue for long. So far the parabola is holding up, but the way these formations go we ought to soon see acceleration and/or collapse. The siren song of quickly soaring prices has always proven irresistible to retail investors, but the challenge is to jump ship before getting smashed on the rocks.
| Current Holdings |
| Ticker |
Basis |
Closing
Price |
Perf. |
Sell-Stop |
Additional Exit Guideline |
Chart |
| DGP |
18.68 |
19.54 |
+4.6% |
19.09 |
N/A |
Chart |
| GOLD |
45.56 |
58.03 |
+27.4% |
54.58 |
N/A |
Chart |
| TMX |
17.01 |
17.20 |
+1.2% |
16.85 |
N/A |
Chart |
Long commodity, short technology ideas for Monday.
New Trade Ideas
| Ticker |
Entry |
Exit A |
Exit C |
Chart |
| QID (Ultrashort QQQQ) |
37.92 |
36.07 |
34.91 |
Chart |
| NGD (New Gold) |
2.01 |
1.86 |
N/A |
Chart |
| APL (Atlas Pipeline) |
5.32 |
4.74 |
4.49 |
Chart |
Please refer to "How To Trade The Ideas" (right-hand side) to read this table.
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