Sunday, June 3, 2012

My thoughts for the week ahead

Pretty much everything did as was expected last week, according to the charts.  Emotionally, I was not as confident.  GLD has broken out, now I expect it to start stair stepping at least to the February highs, I am long calls.

The miners have successfully tested and are moving higher, probably much higher.  I am now going to widen my stops on positions I am still in, and will do so for others I enter. .  I will enter SLW, EGO, SSRI, RIC and AG this week.

SLV has not yet broken out, above 28.14 triggers my buy signal. I am doubling my calls, July 27's.

Oil is a mess, and I think it still has room to fall, however I went long HAL (buy signal hit at 30.05) Friday on two successful tests and it getting bid up all day, the last two days.

SPY broke its bear flag, I closed my lower Condor legs, and bought puts on SPY and on FAS on Thursday. I closed FAS but kept SPY.  I can see SPY fall to 121 area, but if it reverses, I am going long high beta, SPY calls and banks to a short covering rally.

For those following my signals below is the spreadsheet of open trades and trades closed this week.  I also posted charts for your review.  It will be an interesting week.

For the year I am up 36% on my buy signal trades.

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