iBankCoin

Momentum Trading with RaginCajun

RaginCajun
Joined Jan 27, 2008
7,405 Blog Posts

Not Feeling It

RaginCajun Wed Oct 19, 2011 11:51pm EST 8 Comments

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:

 

If you enjoy the content at iBankCoin, please follow us on Twitter

8 comments

  1. MOOBER
    MOOBER
    October 19, 2011 at 11:58 pm

    Troika

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  2. Marc David
    Marc David
    October 20, 2011 at 12:24 am

    Aqui no se esta Jugando

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  3. kunal desai
    kunal desai
    October 20, 2011 at 12:24 am

    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

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  4. Maestrom
    Maestrom
    October 20, 2011 at 8:11 am

    RC..always love your column

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  5. Maestrom
    Maestrom
    October 20, 2011 at 8:13 am

    RC..always love your blog

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  6. rajusus
    rajusus
    October 20, 2011 at 9:44 am

    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?

    • 0
    • 0
    • 0 Deem this to be "Fake News"

© Copyright 2007-2024 iBankCoin All rights reserved under penalty of bodily harm. DISCLAIMER: This is a personal web site, reflecting the opinions of its author(s). It is not a production of my employer, and it is unaffiliated with any FINRA broker/dealer. Statements on this site do not represent the views or policies of anyone other than myself. The information on this site is provided for discussion purposes only, and are not investing recommendations. Under no circumstances does this information represent a recommendation to buy or sell securities. DATA INFORMATION IS PROVIDED TO THE USERS "AS IS." NEITHER iBankCoin, NOR ITS AFFILIATES, NOR ANY THIRD PARTY DATA PROVIDER MAKE ANY EXPRESS OR IMPLIED WARRANTIES OF ANY KIND REGARDING THE DATA INFORMATION, INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE. Privacy Policy