{+++} I’m working on video this weekend, technology and me are not the best of friends so be gentle, I will do some clips as soon as I am comfortable, hopefully by Sunday or early next week.
I called for a trade on CLF today, I guess for about a 75 cents profit. I may have been a little trigger happy but wanted to take the profit as the market started to roll over, it ended up being a false alarm and the market closed on the highs into the close.
If you are a longer term holder, a few days to a week, you can ignore these calls on exit that I make, many of the charts are still in good shape and go on to do big things. I’m just taking profits. GLD and DGP did well and so did commodities in general, I will be doing a chart analysis on XME on Sunday which is the ETF for basic materials.
KRE- I am still holding as a short, I’m in at 19.30 personally. My stop on AXP was 25-25.50 and it tagged 25.30 so some may have been stopped. The volume was very light.
Commodities, soft and hard are on fire and I don’t want to be the guy that tries to pick the top on a hot group. I traded very light today and traded some CLF but mainly tried to re balance my thoughts for next week.
I will try and do a mailbag this weekend so fire in some questions and I will answer them on the blog. Either e-mail me or put it on Disqus. Open forum so ask anything. Hope you had a decent week, it was choppy out there.
I will do a review as well sometime tomorrow or Sunday before the regular Sunday evening post.