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.
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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.