Thursday, November 17, 2016

JJC - could be a big one

Smart money is net short, according to an article I read on Zero Hedge, and it bounced off of a trendline since 2011.  Also that was roughly the 600 day moving average, and it's a sell on Evolution.

Today has been an up day so far, but as far as I'm concerned, that just makes it sweeter. 

Banks are also up today after flashing a sell yesterday.  I think they're still a sell IMhO, but probably wait till close.

Overall I think stocks will have a fairly bad week next week.  Don't hold me to this start date for the downturn but I'm thinking Friday or Monday will be the last high before.  With stocks going down, I think JJC will go down even faster. 

At the very least, it's good diversity because it doesn't correlate that much with the rest of stocks.

ALSO - not worth it's own post, but I'm never trading DIA again.  It took for freaking EVER to make a trade.  If I do the index, it's always going to be SPX.  The trades are so fast, and despite the spread, you can always get a trade in the middle ground, unless you lag long enough for the price to change.

No comments:

Post a Comment