Daily Global Economic Calendar

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Wednesday, December 12, 2012

1st Day above 1425spx. Positions 12/11/2012

12/7 - SLV 32.02 (stop 31-31.50)
12/7 - SIL 22.50
Both fell a bit since I sold them at the end of Nov.
12/11 - JJG 55.92 1/2pos (stop 54)
Just as I was buying grain etf, wheat knifed lower by 3%, crashing both BBands in process. All three grains are NOT in uptrend, but show some signs of bottoming. I fully expect to be stopped out today or tomorrow, but will reenter at lower price.
12/11 - SRS 25.02 Still a special case. IYR H&S from this post seems to be busted, but price action is still lousy and XHB is simply falling apart. I can't find any other bear etf to short homies

Positions:  (still keeping cash at about 30%)

On Market:
      Some of my positions are blasting thru BBands. It's not a small stuff, but etf's like EEM and SMH. And I see a bunch of others doing same. At this point the only way this trend continues is up and up without pause. Not something we see very often.
Santa may be lost...
      So we barely pushed above 1425SPX, but picture is questionable. Reaction will come at some point, just as it always does, and 1400 is a definitive support.  We will be lucky if it stops at 1400, see PF chart for clarity.
If 1400SPX broken than all this business will become a giant bull trap. We are not as far as it seems.
      Bonds are at bottom of the box on 25day/4hr chart. Daily is in a middle of sloppy range. There may be a trade there. Watching.

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