With the surge in buy volume on Wednesday in the Japanese Yen ETF, below on the daily timeframe, I am looking for a snapback rally to ensue in the beaten-down Yen. The ETF has had daily oversold RSI readings since August.
If the Yen rallies, the Dollar should come in a bit and ease pressure on some commodities, namely precious metals and miners. So, keep an eye on all these correlations tomorrow.
Drop me your tickers overnight.
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Long EUR/USD
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Long CMG, refuses to look down at the gap below…
Still possible to short QIHU?
If it retests 70 I will make it my bitch.
It’s going to be an interesting ride till November for QIHU. No institutional buyers stepping up, and short sellers ready to pile on till they see 60, 50, and 40.
Too much ownership by the founder (18%) to be swooped up in a buyout, but a partnership with BABA or BIDU might be one way to save itself before then.
Good luck with the short! I think it will hit 70 soon, so you’ll get your chance (extra female dog).
$FLY looks like a great short to me for a LT hold?
Hmmm, if they can pay out the 8% dividend, then there might be a floor, no?
You might be better off shorting QIHU, the stock you hate, despite the RSI readings 🙂 (Seriously, though, if earnings go well, won’t the darn thing pop?)
Danny, could be both, depending on timeframe. Short-term broken chart.
TNA is massively over sold. Flagged four times in the past week in the ppt. I think its good for a bounce at the very least. I’ve been holding vxx for the last two weeks but will flip it completely for TNA at the open.
thanks for the reminder, bought some silver calls, due for a bounce