I sold three of my non-US ETFs. Does the US follow? I don't know but the chart actions told me to sell and take profits and keep the loses small.
Silver has had interesting news over the last two months. The large short positions and the law suites against the large banks that supposedly have them. If they have to buy to get out of there positions then SLV ETF will raise. Also the ratio of price compared to gold shows that silver has not been keeping up with gold's raise. An other reason silver could go up.
I am not investing in silver, I am taking a bet that in the next two months silver will pop up. The bet I took is two option contacts on SLV April 34 calls. Will need SLV to go above $35 to profit. The bet only cost me $93.
System-A is still on a buy signal.
Happy trading/investing
Ben
How hard is it to invest in the markets and do better then having a properly allocated portfolio like wall streets recommends. My answer is in this blog, shows it is very hard to do for the average person with a full time job and an active personal life. My goal is to buy into up trends and get out when it is done. Sounds simple, right? Two directions I have are: 1). Use the seasonal stock strength, October to May. 2). Use the smarts of Sumgrowth.com
Thursday, February 10, 2011
Tuesday, February 1, 2011
Good thing the buy rule #1 kept us in QLD.
Strong day and QLD bounced back almost to the buy from 1/26. I would call this a follow through day. Up close to 2% with higher volume. Check at 10:15 to see if the markets are up and put more cash to work.
Buying rule #1, wait until 10:15am
1/28 was a sell signal. Next trading day 1/31 the futures were up and the market was up by 10:15am. This means the sell signal was canceled and hold the long position. Always wait until 10:15am to see were the markets is going so that you do not blindly trade at the open. This rule is to avoid being whipped....
Subscribe to:
Posts (Atom)