The metals just fell off a cliff in terms of price. As you know, I've been thinking you buy weakness there and sell strength outside the two names that I keep a position in. FNX had good news again this morning and is once again bucking the trend. I was getting worried about it last week but just hung in there waiting to see what it wanted to do. It has now broken it's short term down trend line and is looking fine once more. I'll look to add to it on weakness if the general metal weakness pulls it in at all.
Just a note, I finally started a short position with a reasonably tight a minute ago in DADE. I'm watching JOYG also for a short start. I expect this market to have troubles around the 1210-1212 SPX area and am picking at a few charts where earnings are out and they offer downside opportunity.
Just a note, I finally started a short position with a reasonably tight a minute ago in DADE. I'm watching JOYG also for a short start. I expect this market to have troubles around the 1210-1212 SPX area and am picking at a few charts where earnings are out and they offer downside opportunity.
0 Comments:
Post a Comment
Links to this post:
Create a Link
<< Home