Thursday, November 17, 2016

My plan for next week

This week wasn't very good, between failed end of the world predictions that suckered me in, and the election going the way I expected, but stocks not, long story short --- poop.  I've done quite well since Sept 7th, when I really started trading again though, and I have high hopes for next week.

The weekly arrays for both the Dow and the Euro, suggest this is a turning point and next week will take the opposite direction.

Copper, JJC, I expect to go down.

So these are my 3 trades, or some variation.  I might pile on some bank shorts.  I think maybe they have already peaked this week.

And instead of the Dow, I will be trading the SPX and/or the VXX, in the opposite direction (long VXX = short SPX)

I might be long some metals.  I'm going to look into it more, but I expect to find that it's a favorable time.  I know it's right about at the 600 day MA.

I think there is a lot of room to move in the direction I'm expecting for these, after they just spent 2 weeks going the opposite way. 

Thoughts on DB.
Overall I think DB is a good short candidate.  Is it better than the others?  I'm not sure.  I'll probably do a little because I think it has great potential to move far.

I dug into gold, and I'm sorry to say, it looks like gold is in for a really nasty fall, probably a new all time low, but that will be the final low.  With gold, you never really know, but that's just what it looks like from here.  It's high risk low reward at the moment.

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