Precious metals and miners are off to a terrible start this week, rendering any positive divergences last week to be either null and void or at least on the back burner. I took my first lost in several months in this space this morning, a 1/4 position size in a levered-long silver ETF. I opted to cut it within the first thirty minutes of trading and reassess the situation since, as you by now, those ETF instruments in the commodities complex are dangerous and best viewed as very short-term vehicles.
I will delve deeper into the commodities as a group in my video market recap after the bell.
Elsewhere, I am still holding a volatility long ETF, and scaled more of my longs this morning. The weakness in the small caps today is concerning.
I am not in a rush to put on additional longs here.
Drop me your best final hour ideas. And I will see you on the recap.
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Little Boy Blue…
Cuz he needed the money.
Hickory Dickory Dock…
Three blind mice….where the fu&$ do they think there going?
LoL
DUST
HFC
Nice work.
Mary had a little lamb…
There once was a blogger named Chess. Who left MILFs in a state of undress. His cigars were long, and so was his…..work ethic. (Rated G)
LoL
EBAY short
Yep