Friday we saw DIA rally only to see us 400 dow pts lower by Wednesday. This market is in whiplash mode. DIA, SPY and QQQ are sitting on support. If All moving avgs are bearish…. my main two indicators are bearish. This is why I am long TLT call options, LONG GLD using UGLD and Call options, long USLV and SLV call options, long sand and CVX.
Lot of precious metal traders were giving up on the rally that had begun last week only to see the metals and miners looking much better today. Who know’s…time will tell, I will just follow my system and watch.
CEFL is still on FULL position bullish signal but not looking good. So I will keep close eye on the close today, if the moving avg cross into the close I will sell 500 shares, give the other 500 1 more day. I normally wait till next day after the cross, but with this volatility I would rather be little more aggressive to protect balance.