Could The Deflation Arguement Start Up Again

By: Bill West | Sun, Aug 16, 2009
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8/16/2009 6:14:17 PM

Hello Everybody

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Trade Actions:

Buy DTO (Ultra Short Note on Oil) @ 80 or Better
Buy DZZ (Ultra Short Note on Gold) @ the Market
Sell Short TAO (Chinese Real Estate) @ 18.5 or Better

Market Outlook/Potential Opportunities:

Gold is stuck in a pennant formation, torn between two arguments as to which way it will turn. It might be a trap but it appears that the direction will be down. Therefore we are going to buy DZZ. This is an Exchange Traded Ultra short Note on Gold. The stock market is overbought but projections are still for an SP of 1060. It is very tough to chase this market, but I can't justify a short at this time. It does not give a great entry zone. China showed some poor relative strength on this last up move. Once the market falters, this could be the first to stumble. Once again I will send out some more recommendations during the week if situations warrant it.

Current Long Portfolio:

Long GAZ Natural Gas @ 45

It closed at 14.4

Sell Stop @ 14

Long ITA (Aerospace) @ 41

It closed at 43.3

Long NLR (Nuclear Energy) @ 23.4

It closed at 23.3

Current Short Portfolio:

Short RJA (Agriculture) @ 7.1

It closed at 7.2

Buy Stop @ 7.5

Recently Closed Positions

Long USO (Oil) @ 32 Sold at 37.9
Long GLD (Gold) @ 88 Sold at 93
Long GLD (Gold) @ 90.1 Sold at 93

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Thank You

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Bill West

Author: Bill West

Bill West
Fat Pitch ETF Advisory

Bill West

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