Suddenly, the momentum and leading parts of the market feel like they are on their last legs.
In reality, though, they are likely close to a short-term bottom, such as NFLX YELP, etc.. However, I am not convinced yet they are near durable bottoms to the point where I want to step in front of them here.
In fact, my strategy is now shifting even more towards targeting the holdout, resilient parts of the market which I believe will succumb to the leadership selling imminently.
Also keep an eye on the VXX and other volatility instruments. They are still quite soft, all things considered. Complacency or a bullish divergence? You know which way I lean.
Drop me your top Friday afternoon ideas.
My afternoon idea is seppuku
Positive thoughts
really like the miners here. gold back above the 200DMA, which is flattening out. inverse H&S setting up well. projects a huge move.
Nice Brush
Chess- GLD it is! March 18th highs of 133ish look promising. But we have a long way to go. Your thoughts?
Long way to go, indeed. But not giving up $122.50 was good.
Been buying SBS another Brazil play
Intriguing, thanks DK.