In this weekend's post, I wrote, "Zooming in to the intraday level, however, you can see how technically
perfect all this price action has been. An ascending wedge, a break,
and a perfect retracement to the underside. I would be very, very
surprised (and disappointed) if we didn't see a down day on Monday."
Well, I was neither surprised nor disappointed. I got the "one-two punch" I was hoping for…………a drop across the board in oil, gold, and equities. The notion that these are inversely correlated is, in my opinion, total nonsense, and I am positioned as such. Today's 241 point drop on the Dow was welcome, and the last three days of this week are packed with important economic reports.
Observant readers may notice that my performance figures have dropped from something like 95% to 77%. The reason for this is that we've changed how this is calculated. Last week, a reader pointed out what he felt was a mathematical flaw in the calculation; I agreed, and I asked an engineer to correct it. This has been corrected, but still, the figures shown are not bad! Please keep in mind my caveat about this figure, no matter what it says.
Today I'm simply going to show you my favorite current positions. I've got a total of 109 – – yes, 109! – – positions, every single one of them bearish. But here are my jumping-up-and-down favorite ones………
