Upward Drive Is Still Intact
4/26/2009 11:35:06 AM
Hello Everybody
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Trade Actions:
Buy GLD (Gold) at 88 or better.
Market Outlook/Potential Opportunities:
We are still bullish. But we are also overextended. A few upward price points have been met, so we will soon be scaling out of a few positions. If the market corrects here, we might be adding to positions. So the theme here is we will sell on further rallies, buy on hard breaks. If there are midweek opportunities I will send out an alert. There will be future shorting and Ultra-short recommendations but just not right now. We do not want to fight this momentum. I believe we could enter an acceleration upward, almost a buying panic, in which to sell into.
I think Gold is still bullish. It appears that the weekly and monthly charts are holding. We want to try and re-enter this market. Let's try to buy GLD at 88 or better.
Current Long Portfolio:
Long GAZ Natural Gas @ 45 |
|
It closed at 16.3 |
Long USO (Oil) @ 32 |
It closed at 28.9 |
|
Long EWS (Singapore) @ 6.3 |
It closed at 7.1 |
|
Long RJI (ET Note for Commodities) @ 6.09 |
It closed at 6.1 |
|
Long EWT (Taiwan) @ 8.7 |
It closed at 9.2 |
|
Long FXI (China) @ 30.5 |
It closed at 32.3 |
|
Long RSU (Rydex SP 500) @ 18.5 |
It closed at 19.9 |
Current Short Portfolio:
None
Recently Closed Positions
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Author: Bill West
Bill West
Fat Pitch ETF Advisory
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