/DX is still weak, thanks to QE. This should put a bid under the larger caps, but not as much under the small caps.
I am short the Russell from ES 1283, after getting out of earlier shorts circa ES 1274.
Monday, January 31, 2011
Short until 1245-50 zone
I plan to stay short until 1245-1250 on the ES.
I am short via TZA. Sold IWM puts at 1274 ES but will buy again at about 1283.
Saturday, January 29, 2011
Market Update
SPX down to at least 1235 or so.
Wave A down to ES 1261.
Wave C to 1235.
Gold up to at least 1375 or so.
AGQ 134 at least.
NDX may have peaked. Possible. Nice short for now.
SPX will double top (with 2007 top) this year or early 2012.
In mid Feb go long.
Monday, January 10, 2011
Next Month
1. Equities:
- I see a small bounce in the week ahead, then a 50 point drop in the S&P, probably from 1280 to 1230. Drop should start around AAPL earnings.
- From 1230, I think we rise to 1330 or so by March-April.
- In March-April, I think we start a 1.5 year bear market in the United States.
- Problem is that this is against the Presidential cycle, so I'm not yet sure on the bear market. Maybe we get an extended Wave 5?
2. Silver/ Gold: I am buying this correction with AGQ in the 138 level. I see us going up from here.
3. BSE can be safely shorted up to 18500 at least. Then we will get a big bounce.
Some of my Trades:
1. Long AGQ 138
2. Looking to short India (long INDZ at 26.2 or so).
3. Looking to short SPX (long BGZ at $8.4 or so).
Took profits on a quick long EDC trade this morning.
Took profits on short Silver trade.
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