Here’s tonight’s trading watch-list:
Long YRC Worldwide (YRCW)
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The following 3 Weekly ratio charts show that the SPX, RUT and NDX have weakened in comparison with their respective Fear indices. Price has now reached a major confluence level on all 3 at the bottom of a rising channel (from the 2011 lows) and a 38.2% Fibonacci level (taken from the 2009 lows). (more…)
I confess to being very flummoxed right now, because I am bearish on gold and bullish on companies that mine the stuff. So I’m hanging on to my GLD short – indeed, it’s my one and only substantial short position – as well as my GLD puts – and yet I bought GDX calls this morning.
The insanely-valued social media stocks are having some of the air taken out of their tires. Facebook reports on Wednesday afternoon. That’ll be good for lulz. (Note: I did this post yesterday, but I had so many posts, I didn’t publish it until today; still the message is the same).