This post will be brief, as I have nothing new to say (for once). First up, crude oil, which dropped (wow……) under $40! This continues to amaze.
I am increasingly smitten with my precious metal shorts. The $XAU graph has the spiffy property of having not only retracted to a major Fibonacci resistance, but also having broken a mombo trendline and then retraced to that. I'm hanging on to these shorts.
As for stock indexes………….I covered some of my ES shorts around $855, but earlier today I also bought into some ultrashort items like FXP, SRS, and DZZ. I haven't touched the Russell in a long time (it used to be my favorite trading vehicle), but I think its slow stochastic is quite telling.
In spite of so short a post, I added a bunch of new positions today. Check out the watch lists in the right column to see if anything turns up of interest.
