Sunday, November 4, 2012

The week ahead-Whipsaw

Nothing is easy.  After getting buy signals on metal and miners, the Friday panic reversal was disheartening.  The problem for me is the cause is uncertain for me.  Is it due to a short week that gave false early signals, the election, both, or a start of a new trend down.

My guess is Friday was a overreaction, and we settle down until Tuesday close.  Then all bets are off.  I can see selloffs in both scenarios of Presidential victors.  Obama win means taxes are coming and get out now, Romney, austerity is coming, so get out now.

Then Thursday, the ECB meets, and they may whisper sweet nothings to the market, the euro rises, so goes the risk markets.

I got bounced out of most positions on Friday at the open, and will wait on new buy signals.  The exception is my two silver miners AG, and SSRI held up well and did not get stopped out, interesting.

My charts are below.

1 comment:

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