Originally published on TheTechTrader.com.
Slope of Hope Blog Posts
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I wrote in the post last night about how I was taking a conservative approach, having gone long five ETFs as a hedge (DBC, USO, XOP, SLV, TBT).
Well, these hedge positions did the two things that hedge positions usually do for me. Specifically:
(a) Jack; and
I lost money on all five longs (and did so pretty much instantly at the open). Sometimes I wish, as a bear, I was a pure bear. This "long" business is for the birds.
Given the attention on JPM, with Chairman Jamie Dimon's testimony, we compare their chart with the XLF (banking ETF) & Wells Fargo (WFC), considered the healthiest major center bank.
Originally published on MPTrader.com.
Am I obsessed with my latest creation, SocialTrade? Yeah, I'm obsessed. I love this product. I've never been so excited about something in my entire life.
This morning, I got a nice email from a SocialTrader, and he wrote…..
My one thought about it is that I think you should change the way the activity log displays activity. Personally, I think that only comments should be displayed one after another in the activity log. Currently, the log is also showing likes and restacks, which has the effect of making comments hard to find. I would suggest doing something similar to Facebook where they simply list how many likes an item has received, and then you can click on the link to see all the names. If you did that for likes and restacks and just left comments each showing in the log, it would look great.
Todays lame-o retail report got people hopped up again on dreams of more QE next week. Consequently, precious metals are up again. I think the gold ETF, shown below, is going to encounter some resistance at about 160. I don't believe in this strongly enough to actually do anything about it – – I am maintaining a risk-averse posture until we're done with FOMC next Wednesday – but thought I'd at least point it out.
I remain more comfortable shorting the miners than precious metals. I've got a new trade on GDX, below, with a stop at 47.76: