I first want to say how pleased I am at the warm reception Slope Memberships has been getting. It is proving more popular than I anticipated, and I’m definitely going to be focusing my efforts on adding features to all the membership levels. As a reminder, you will see new features appear here on Slope on a regular basis, but rest assured they will all eventually get tucked behind the seclusion of one membership plan or another.
As for this post – – there is going to be an unapologetically non-creative theme for this post: I have gone through my ETF list, from A to Z, and have plucked out my favorites below. I have a few words for each one.
Commodities are poised to fall.
The Dow Industrials have started to take a bit of heat, slipping away from their nearly record high on Friday.
On Friday I had speculated that emerging markets would either turn down immediately or were only halfway done with their countertrend bounce. Looks like it was the former. Good. I’m impatient.
In turn, the emerging markets bond fund continued to paint out what I think is going to be ultimately be a very substantial topping pattern.
Last week I went bullish on miners (by way of being short DUST). I covered that position for a quick 12% profit. I have a feeling I’ll regret taking those profits, as miners may continue strengthening.
The small caps, via the Russell 2000, is nearing an important decision point. If it penetrates back into its symmetric triangle, I think we can call this a failed breakout.
I mentioned earlier my bearishness on commodities. This is expressed also in the oil and gas sector.
As for my positioning, I’ve got 57 short positions and am about 170% committed. Aggressive, but not markedly so, and I have absolutely no ETF positions (in spite of all my opinions above).