Jake’s Big Three

Fly posts his “top tens” all the time, but my seven to ten’s are usually dwarfed by my larger ETF positions.   [[SKF]] , [[FXP]] and [[EEV]] are the three that are dominant in my portfolio right now, and in fact make up almost a third of my largest (largely non trading) account.   Skiffles used to be the superstar, and I’ve added another 66% to the position since it’s fall from grace.  As of today, its monetary value is about 85%  of the two other positions combined.

Here are the long term (two year) charts and fibs for each.  As always, click on the charts (twice) for the “close-up” detailed view.

[[SKF]] first:

She’s my baby, but she’s still sick.   Note that recent downtrend line she’s fighting.   I am looking to add maybe 20% more to my position, and I believe we may get one more drop to the recent lows, if not to the downtrend line itself, in the coming weeks.  If not, and we break through that downtrend line we touched just today (note the last candle), then I will rejoice, and perhaps add that last bit at a break of $130.00. 

Next, our Olympic friend [[FXP]] :

That was a healthy bit of business she put in today, taking that solid white candle right over the 50% fib line with ease.   I think she’ll have no trouble getting to the 61.8% fib very quickly, and maybe even this week, at $98.00.   After that, however, I think we may be in for a retrace at least back to the 50% line at $90.70, which would be very healthy, given the slightly oversold condition she’s in right now.    As you know, 61.8% is a hardy line, so when she busts that one, I think we’ll have clear sailing to new highs, maybe even before the year is out.  

 I may sell a bit at $98.00, however, to take advantage of the trade conditions.   It will be wholly dependent on what our volume looks like in the coming days and weeks.   If we get a post Orympics depression let down in China, I may just keep it all as we jet through $98.

I saved the best for last, [[EEV]] , my little ultra short emerging market “light under the bushel.”

Would you just look at that beauty?  Hugging that trend line since mid-May and building up and consolidating with a lot of fat buys in July, she is now “off to the races” so to speak, thanks to Mr. Dollar juicing on the anabolics.   

While this is not good news for the BRIC fans, it is a nice hedge — especially for you Skiffles fans — against those “fake dollar” bank rises we’ve been experiencing lately.  Yes, EEV has been my shelter in the Skiffle storm.  

Not much to say about the chart.   Looks like we’ve cleared most of the really significant resistance, and we should be heading for new highs in almost no time.   Of all of my holdings, I think this is one you can buy tomorrow morning and be fine til year end at least.   I may even add another 20-25% myself.

Best to all, Ciao.

 

 

 

 

 

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