I never thought I’d be so happy to see strength in the market.
Let’s take a quick look at a few charts, with some thoughts on each.
As I was mentioning in the last post, I had, two days ago, declared a target for KBE. We hit it (green tint) and bounced. I went long KBE when it was hit hard. We’re not out of the woods yet, but so far, so good!
I also shorted TLT based on its strength. The “flight to safety” seems to be relaxing, since we got into the upper 30s on the VIX!
Gold has absolutely fallen to pieces. I sold my GDX and GDXJ longs early this morning, and I have no precious metals positions.
I saw this comment, and Duffman was absolutely right!
I was so busy scrambling, and covering my last remaining shorts, I didn’t jump in, but I sure wish I did. Good call, Duffman!