My “Lessons I Never Seen to Learn” list has a growing number of entries. I’ve talked about the Gartman one repeatedly, but another one is this – – never short Mexico! I just can’t seem to get it right with this financial instrument. One of these days I’ll finally realize: NO MAS! Just look at all these price bar islands…………
While Wednesday was my best day of the entire year, today has been my worst day of the week. The explanation can be explained quickly and simple with one image:
My stop loss…….34.41. I would normally do a post like this just for my beloved PLUS members, but I’m in a generous mood.
Most of you already know of my fondness for energy shorts. Here are a couple of leveraged bearish funds (thus, longs) that got beat up badly lately which I believe are ready to reverse into new highs for the year (Allah willing). Here’s the one I’m presently long:
Green, green, everywhere! Not even complete mayhem in D.C. politics can shake this market. And, hey, SNAP reports after hours, so that’ll hold the entire economy up on its own!
Crude oil has done a good job putting a damper on my day, but I wanted to share one chart of an ETF which still, even in this environment, is an inviting short: the Dow Transports. I’ve shown a close-up view of recent activity (inset…….obviously) below: