On Monday I did follow through with the planned selling mentioned last week.
I was little concerned that this was premature and it may still prove to be so, but on Tuesday Investors Business Daily seemed to confirm this change in direction with a change of their market outlook to “ Market Under Pressure”
So is it time for me to short the market?
What did I see in the weekend review?
As mentioned earlier IBD’s Market Current Outlook shows “ Market Under Pressure”
Copernicus has a somewhat mixed signal, but my interpretation is it pointing to be long in the market.
Therefore, it is not time for me to short…..yet.
It may soon be time to add gold with more GLD and take a position in silver with SLW , an interesting Canadian company, or AGQ a 2X leverage ETF and get ready to short the market with SH and perhaps consider shorting financials with the 3X levered financial inverse FAZ
On the plus side Biotech still seems interesting as does Brazil, Mexico and Latin America in general, but let’s see how next week pans out first
My "Stocks for a Trade" now consists of:
None..nada
ETF's for a trade are:
(Gains shown are the total since purchase)
USO 7.58 % down a little this week
GLD 3.37% may add
XLE. 13.38%
Have a great week!
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