Here a few shorts to consider for today and tomorrow as market conditions continue to weaken.
Haliburton (HAL)
Dow Chemical (DOW)
Mosaic (MOS)
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Tempted to Trade Pre-FOMC? Be Strong Like this Dog
Good Morning, Slopers
I'm going to make this really quick; indeed, I'm not going to be very active today since all eyes are on the FOMC and I'm getting myself ready.
I entered the day long SPY and short 79 items. I got the hell out of SPY at a nice profit and have added a few more shorts. I am a pure bear again.
I am still only 50% committed, thanks to Bernanke-fear, but my short on FXE is my current favorite. I think the Euro is going to finally give us a sustainable trend on which to trade.
Good luck today. It's going to be a wild ride.
Precious Metals Correction?
That was a decent move down yesterday, but it wasn't that encouraging for more downside. Marginal new lows on strong positive RSI divergence are generally a reversal signal and we're seeing a strong bounce so far overnight. I'm seeing a possible falling wedge on the ES 60min chart and I have declining resistance in the 1243.5 – 44 area. A reversal there would confirm the wedge, which indicates back to the recent ES high:
