Indexes, Oscillators and Bears, Oh My!
Today wasn’t quite enough to put the nail in the bulls’ coffin, but it isn’t getting any prettier.
I got stopped out of my SLV position for a break even trade. A new downtrend could bring a retest of the lows.
It is getting harder to defend the bullish side of things. My favorite long play is GDX, but it was up on weak volume as precious metals fell. It smelled like a suckers rally to me, so I’ve closed the position. For now, I will stick with fixed income until the equities tape gets a bit more positive. I’m shorting whatever pops up on StockTwits and keeping my positions small for the sake of my own psychological well being.