Gold has been bouncing higher for a little more than a week, and my view is that, as it approaches its gap at $117.95, it will reverse lower. Whether it’ll reach the gap or not at all remains to be seen, but I’ve shorted it this morning with a stop at $118.
Although I covered my retail stocks early this morning (M, JWN, DDS) I am still cheerfully short a different kind of “retail”, which are casual dining establishments (AKA places I would never, ever want to eat). Here they are………...Fiesta Restaurant Group:
Long Jacobs Engineering Group (JEC)
I don’t normally mess around with anything medical or biotech related, but I couldn’t help myself with this one last week – – and so far, it’s giving me good results as a short: