According to Cramer, July 15th was the low…but I view Cramer as a contrarian signal. Lol!!!
knows what the low is going to ultimately be?…I don’t play feelings
(at least not very often), but the charts are pointing to
disappointments for longs–still, there are not many confirmations to
go short the markets, despite today’s selloff…I may be betting too
early, but took positions in GDX, DIG and SKF a short time ago.
However, hedged my bets with SSO at a 40% position to today’s bear
market buys–in case these bear market plays should suddenly reverse on
me tomorrow or the next couple days…as I say, there are not many
confirmations yet that oil is about to run back up and the markets are
about to collapse….but the early signals are pointing toward a quick
Still holding UUP (bullish dollar ETF)in my portfolio as
it still looks good for longer trend climb…but other signals hinting
that UUP gave us a head-fake the past few weeks…it’s one confused
Look at the Dow chart …notice the
13-50 dma crossover which lead to a short-term bullish call…then notice that today
it is plunging back under that crossover…could be a very short-lived bull?–index currently underneath the 13-day line…not good!