We’re back to overbought, “everything is OK” levels. I sold my home builders and semiconductors this afternoon. I’m looking for another gap up and then a long steady fade all day. SKF is looking for a bounce as the volume spiked. Precious metals puked another couple points, but I think we’re 2/3’s of the way…
Home builders, Semiconductors, Biotechnology, Water and Natural Gas… a strange assortment of market leaders for the day.ITB is a home builders index and like its better known brother XHB, it has taken a beating over the last two years, down nearly 60%. After finding a low ~13.50 on January 9th, ITB has shown remarkable strength,…
DGP + SKF = Win. Buy Yen, sell real estate, here we go again… “Normal” bear market conditions have returned with dramatic under performance in banks and real estate. Gold and silver continue to rally, and the dollar is beginning to slide to more all time lows. I would like to thank the bulls for…
I’ve been so overly medicated these past few days I haven’t had the patience to write more than two sentences. All I can do is come up with half-brained t-shirt ideas like “Liquidity Crisis” underneath an empty beer mug. I’m smoking more of everything and doing less of anything, and damn it feels good to…
Booooyaaaaahhhh! I think I’m gonna quit trading equities and move into Forex (just a thought)… Sometime last week I moved everything into Yen. This has turned out to be a nothing short of perfect as the dollar fell to new lows Sunday evening. I sold my Yen as it regained strength, but then quickly jumped…
Having missed the market open by about an hour, I didn’t have to do any guess work as to the markets direction. SMN (double short basic materials) is up 6.97%, UYG (double long financials) down 4.85%, which is roughly a 2% gain on a -1.5% day. Thus, the hedge trade worked, but there was no…
In my last post I suggested a pairs trade including SKF and DGP. Since that post, DGP has fallen 3%, and SKF has risen 10%, netting a handsome 7% in the last 4 days. While I firmly believe in the soundness of the fundamental logic (a move to hard assets over paper assets due to…
So far this has been a pretty good day, but the longer DBA trades below 42, the more inclined I am to get out of the trade. Ultra Shorts SKF, SRS and TWM are working very nicely today, up ~3%. FXY and FXF continue to trade higher as there are more carry trades unwinding. Of…
Hooray for cheap moneyIt sucks to be poorInflation is hereYou may have to whore
Well its been two weeks since I last posted, but with a fresh bag of salad, I’m read to roll. It looks like the dollar is about to fall off a cliff as it trades to an all time low against the Euro. Oil, Silver, Gold, Wheat and related countries continue to move higher as…