Sunday, November 10, 2013

Call me Sybil

Last week went pretty much as I expected except Thursday was pushed further down than I thought, and Friday's surge has me rethinking next week.  It could still be a volatility play caused by the market makers trying to settle their books after a one way move higher last month, or the ECB move can be interpreted as a currency war initiation vs a move to stave off deflation.  The strength in miners, materials, drillers, and banks has me thinking maybe it is the former.

A strong dollar and higher commodity costs are good for the above sectors, and these input costs punishes the emerging markets which is good for EDZ (Which I bought last week).  Now waiting to see if gold and silver signal if there is more to this move from an inflation standpoint

I am am very profitably out of all but one (TQQQ) of my triple long puts, thanks to the Thursday, and Friday morning weakness, and I am still scaling in and out of NUGT (still underwater).  The reversal in NUGT, and the juniors surprised and heartened me.  I hold PPP and NUGT, and am going to watch ANV, SLW, and AG next week if this move looks promising, and my signal flash buy.

What else looks good is POT, KOG, and SGY.  Let's see what Monday brings

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