Not Feeling It
It felt as if we should be down a lot more than 75 points on the DOW, judging by the underlying action today. The top of the range, 1230, maybe too tough to crack even if there is a volume pocket overhead.
Commodities were screaming sell today, and the dollar may be ready to bounce. I took off a few longs of today, and may take off a few more by the end of tomorrow’s trading.
If commodities continue to break down here, I want no part of this market. Remember, copper is you leader, so follow the leader.
At the close today my book is long: 1/2 GOOG, 1/2 YHOO, RENN, GSVC, SDS
Here is current chart of copper:
8 Responses to Not Feeling It
Troika
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Aqui no se esta Jugando
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short and sweet your totally right..oil was up 1% and couple hours later down 2%. Day seemed fishy from the get go. Good post
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RC..always love your column
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RC..always love your blog
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Thanks @Maestorm
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Hi RC ,
What is your take on FCX since you are talking more on copper . Do you think it is a good entry point at these levels?
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I think you will be able to get it lower.
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