Glutton for punishment that I am, I'm taking a stab at some commodity related names. Here are two head and shoulders tops I'm watching closely and wading into cautiously (from the short side obviously).
Funny. I had this intense urge to clear out my GLD position (in the trading account) on Thursday afternoon. Needless to say, I managed to rationalize hanging on. What do you know, it's getting creamed this morning.
Market is strong out of the gates today but this feels more like a retest of the broken lows on the S&P as opposed to a sustainable bottom. I'm getting smacked around a bit but remain very conservatively positioned coming out of last week, with lots of dry powder. This strength is welcome. To a point.
No comments:
Post a Comment