For you night owls out there, feel free to drop me any market/trading-related topics you would like me to cover in a weekend video.
In addition, anything else about the current market, feel free to drop below.
Speak your mind, night owls.
Comments »Late Night Strategy for Tuesday
Of the major miners which I looked at, Royal Gold has the look of being best in class.
Note the surge in buy volume to accompany a huge price move on Monday. To be sure, the gold miners have much work to do to cement even a tradable rally within the context of a downtrend, let alone a durable bottom.
Still, it is worth noting this action if the gold miners do, in fact, offer up a respite to gold bugs in the coming weeks. RGLD back into the mid-$60’s would fit the bill under that scenario.
Drop me your top tickers overnight.
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Stock #Market Recap 11/03/14 {Video}
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Enjoy tonight’s video, and enjoy your evening.
Comments »Taking a Few Stabs at the Bad and the Ugly
I took a few new trades this afternoon in some controversial sectors.
All in all, today was a grinding session and not all that unsurprising after the violent price swings in recent weeks and months. Crude oil was probably the most noteworthy mover, with its weakness an issue.
More in my video market recap after the bell.
Comments »Sharks in the Energy Waters
With the persistent weakness in crude oil, energy stocks are under pressure today again.
After a multi-week bounce, the energy sector ETF weekly timeframe, below, could easily be rolling over from the highlighted bear flag consolidation. I view $84, then $82 as downside levels bulls need to defend
ERY is a bearish triple-levered short ETF for the energy sector to keep on watch.
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Extended Tracks
My sole position is still a starter short in UNP, the very extended large cap rail. My stop is above $118.
Other than that, I am stalking the gold miners to see if they are on the cusp of a least a tradable bounce.
CREE is also still a snapback long idea from earlier today, over $33. And on the short side, some names I am watching for weakness: COH F GM SBUX.
What are you trading this afternoon?
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