Monday Meltup
Surprise its the same game thats been the game that is the game. When you have a global liquidity CONfidence disaster looming in front of you with global breakdowns in many regimes around the world I guess you have to expect some paint to be put on the DOW. Toss in a nuclear reactor meltdown after a monster earthquake and Tsunami in one of the most populated and developed ares of the world and you have some serious money printing going on.
This is the area of the market for traders that can be very tricky. Complacency is very high with a nice extended run up here in many sectors of the technical indicators. Rotation from sector to sector and withing sectors to extend this trading top is the call right now. Stop running is becoming more common within several of our favorite energy stocks so be very careful with trading them. My advice from last week still stands which is to taake profit and hide in cash. That doesn’t mean you cant trade the gaps intraday but reducing your core here is warranted. If you are greater than 50% equities right now then you must like playing the Roulette wheel when you go to Vegas.
Silver has had a monster run and I just can’t see holding your full core here. Intraday trading in some of the miners like EXK SSRI SLW HL ANV EGO make sense. If I’m going to hold these in a core EGO and HL might be a little safer here from a downside risk/reward perspective.
I like a clear line of fire and I just don’t have it right now. If we could get a nice correction for a couple of weeks RIGHT HERE….I will sing a different toon…..then I would expect the run up into the end of POMO.
The biotechs are still in play so don’t pull there string yet. ZLCS AEN etc
Read more at Great Depression 2
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