We have got a nice 11% profit on a mechanical trading system on GDX from BreakPoint Trades, however this PRS channel line has caused me to close out that trade. That is good enough.
The "Cable" British Pound / USD currency pair
Also, Expiry week is done. The Monday after expiry often finds some good size fireworks to correct the antics of Expiry week. Sunday futures will be interesting. We banked some serious coin last Sunday playing the futures, which seemed to move in perfect 5 and 3 wave patterns, almost like shooting fish in a barrel. Not that I will complain, any win is a win gratefully accepted.
Bond Interest Rates are at a 61Fibo, also looking a near perfect bull flag. Choose your own poison on how to play this. Perhaps TBT or even JNK? However, one concern is that there is so much media coverage about muni bonds being risk, and States being allowed to declare bankruptcy--defaulting on pension obligations and bonds. I have to take this amount of media coverage (it is large) as a contrary indicator--when they pimp it out that much, there must be some opposite plan coming out....like a TARP for borrowing for State Governments.
This feeds back into my tin foil hatter theory of Fed Gov as the economic hit man, enslaving everyone, including State Governments with debt. What a great plan to consolidate power at the Federal Level. Time will tell.