Yellen’s interest rate decision process
Turns out it was a fairly crappy week for the markets unless of course you were long gold, silver ,energy and mining. Is this the beginning of a new commodity super cycle or are these sectors just leading because of dramatic overbought conditions led by a massive short squeeze and a puking dollar? Don’t really know, don’t really care. Just trade it.
All I know is we made 36 points in $NUGT in two and half days last week and I think gold miners are the dopiest asset class out there. But still, it traded like it got a Phase 3 approval. Crazy stuff.
Stuff starting cracking lower last week. See $XHB and $SMH. Technology is drek. $AAPL wishes for the good old days again. Did we hit “peak” technology? How about “peak” semiconductors?
Biotech ($IBB) tagged resistance on April 25 and has proceeded to lose its bowels. That rally fizzled quickly.
You may not think it s big deal, but “Brexit” chatter will start to gain traction hot and heavy starting soon, and no way is that good for the market. Europe is still a step away form landing head first into the Mediterranean anyway.
Is this the start of another 10% correction? Was last week a shot across the bow or was just some crazy kids letting off some steam? Really don’t know to be honest. At some point this summer though, shit will probably start to get real again and you need to be prepared.
Upsidetrader members had another phenomenal week in trading land. Here were all of our trades for the week. Average hold was about two to three weeks.
DV (short) +10.5%, BIB +15.1%, FPRX +15.0%, TSO +1.2%, TMST +18.7%, AGIO +13.0%, CPXX +3.5%, MDVN +12.5%, ECA +9.8%, NUGT +41.3%. Our three stops were: OCUL -4.2%, OVAS -6.3%, ALDR -6.8
Don’t be silly, become an today for $599 and get six months to pay. Or grab for $799 with six months to pay.
