I’m going to chase the $DUST because I believe it is going to take out the top set in May 2012. If gold price is being clobbered, the gold miners will be decimated.
Take a look at the weekly $DUST chart. My sense is that last May high will be taken out by next week. Perhaps, gold is no longer a safe haven because people are coming back to buy stocks as you can see we have made new high on the DOW.
Come to think of it, we may even take out last year high today… there are still 35 minutes for this to happen.
My 2 cents.
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$PPC is looking very good
Indeud! Thanks for the alert. I bought starter position the moment I saw the chart. It makes sense, with all the chicken being slaughtered in China, we will have shortage of chicken very soon.
I’ll leave the Precious metals sector to the pro’s. I’ve never felt comfortable trading them so I just stay away.
TLT next(just maybe, baby)?
I’ve been positioned short using the bear ETF for sometime now. It was gathering some momentum but has turned back down. I nearly added to my position today but decided to wait and see how next week unfolds.
So far, dead $$ and a tad bit O`patience.
Chess had posted about it at the time of split last Oct. with great comments/thoughts in response.
Have a great weekend, Zen.
Great trading this week!!
PROSHARES TR PROSHARES ULTRASHORT 20+ YR TREAS NEW
Acquired 07/24/2012
$14.35 (pre~4:1 reverse split)$57.42
with an add:
Acquired 12/26/2012
$62.65
Sooz, based on what you were saying, it seemed like you bought a bear ETF awhile ago when the market was going thru the correction stage; now that the market was making new high and was only going thru minor correction, why do you still have the short mentality? Buying more now will be considered averaging down if you are in the red with your bear ETF. You mentioned Chess posted about it back in October. That was like a moon year ago in the stock market timetable. Are you holding that Bear ETF since October?
As far as I’m concerned, the market is going up because price action this week say so. Go with the flow, not against the flow…
My 2 cents
Oop! I missed the additional info you provided regarding your TBT. Based on what you have, you are close to getting back to breakeven after giving back gain from $69 area. If I am holding this, I will put a stop below 4/5 low; but that’s just me. Hope this trade work out for you.
My 2 cents.
many months of blog entries to scan back and find his post..
maybe he can post link?
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Thank you Millissa for enjoying my 2 cents.
Cheers!
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