The Document

Login Subscribe Now
June 17, 2009

Moving Sucks

Folks, I am so exhausted it's not even funny. Moving sucks, and since my exercise mostly consists of trail walking, lifting a few hundred pounds of old computer equipment induced the use of muscles that have been dormant for quite some time. So, I'm tired and sore. And I think I'm getting a fever. Just to give you an idea of what a miserable lot this sums up to, consider that I am the type of person who refuses to take aspirin or other forms of medicine even when I have a migraine, yet tonight I popped the Tylenol PM.... not taking any chances of missing my rest.

Grumbling aside, the markets are behaving well. Natural gas is holding up and, in fact, looks set to make another leap higher. The S&P 500 has posted three consecutive down days on steadily increasing volume, a good sign that the end of this rally is upon us if not near at hand after another shakeout. Indeed, a shakeout rally is a distinct possibility here since 5-day RSI is now in oversold territory, and the spyders were the beneficiaries of over $200M in buying-on-weakness.

Precious metals bounced a little, but there is nothing imspiring about their action. I sticking to my plan of selling calls against a portion of my GDX position into the next rally. Likewise, there are no immediate plans for adding gold or silver contracts to the Docfolio.

You will forgive me for abstaining from charts this evening. Between the click of the submit button and the instant this post becomes available on the web site, about 15ms will pass. Somewhere in that interim I will already be alseep. Good night.

 

blog comments powered by Disqus
Recent Blogs

Macroeconomic Blog | Cycle Trading Newsletter | TrendBands Fund | Library | About | Contact Us | Members