Last week played out nearly exactly as I hoped, and for the most part traded it well. I cut out of some my miner positions a little earlier than my signals told me to, when SPY flashed a sell for me on Tuesday. I bought puts on SPY, but closed them Friday morning (small profit) when the market rejected the lows. The volume is too low to fight the Fed short at this point.
I also bailed on my AMZN trade, as well.
My comments on Gold, Silver, Miners, and SPY are on my charts below, but wanted to talk about Ag Chems and Energy. Ag Chem is flashing tradeable buys right now, and look to be in accumulation longer term. I am in and out of POT, IPI, and RNF and have been tweeting signals for those who receive my tweets (free or paid).
Energy has me nervous as higher energy costs complicates Obama's and the Feds life. CME already indicated higher margin requirements; expect to see more aggressive action and rhetoric. Ultimately they will fail, but short term things can get whippy.
Have a great week.
Bob,
ReplyDeleteThanks for the update.
I take it you are still bullish on HL and AUMN and holding those?