Futures higher
Futures are steadily gaining ground from the overnight session. Yesterday's selling came on a little heavier volume than Fridays up day but it's really hard to read anything into the action at this time of the year. It's more about being long good stocks or stocks that show signs of a turn with clear stop out areas and short the opposite breed of stocks where appropriate than to make any kind of macro call here so that's what I'm doing.
Talking about macro calls from a sector perspective, I do believe the precious metal sector is going to come back in some again and I'm looking to let my last one go thinking it's ran just a wee bit to far right here (TRE). I talked last week about sub $47 NEM and I would be doing some heavier buying again if and when they come back in to target areas.
Oils I just can't make up my mind and I'll be looking to trim some profits on my small holdings there.
Elsewhere it's a lot of mix and match type action so it will be trimming and adding and potentially stopping out on an individual stock basis. I'm probably through adding for the most part as I intend to wind down the portfolio size and move a raise a little more cash as we head to the end of the week.
Talking about macro calls from a sector perspective, I do believe the precious metal sector is going to come back in some again and I'm looking to let my last one go thinking it's ran just a wee bit to far right here (TRE). I talked last week about sub $47 NEM and I would be doing some heavier buying again if and when they come back in to target areas.
Oils I just can't make up my mind and I'll be looking to trim some profits on my small holdings there.
Elsewhere it's a lot of mix and match type action so it will be trimming and adding and potentially stopping out on an individual stock basis. I'm probably through adding for the most part as I intend to wind down the portfolio size and move a raise a little more cash as we head to the end of the week.
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