Friday, October 12, 2012

Flat into Weekend

Closed out XXIA long for small profits, it remained strong while market dropped steady.

Extreme RSI 2 on SPX saying to go long, however, my other stuff says quite a bit of risk remains to the downside.    

Cable, with a three drive Egg pop is ready to head down, again.   We mentioned this trade over a week ago and it did play out.

Now its at a 50% retrace

Almost pulled the trigger on buying silver and gold long, but could easily see a 10% drop to flush out the new bulls.   Spank them hard before the upchannel continues.   Market loves doing that.

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Insightful and Useful Comment!