Today found the U.S. Dollar higher against the major currencies (except the yen), and commodities dropping in concert. Stock indices were lower. A late rally in the currencies left them still down for the day, but brought the stocks back to parity.
What was remarkable was that the precious metals were up, while the U.S. Dollar was up. On most days, Dollar up means precious metals down. Today was different; it was an oxymoron. This strength against the odds may be signaling another upward phase in the precious metals. My short gold signal was dead wrong, but this is not a normal situation. The short Aussie and Canadian made money and were stopped out with profits. The big winner of the day was again cotton, with the ETF rising 2.8% for the day.
New signals for tomorrow: sell copper and buy platinum. There is an ETF for Platinum but not for copper. Copper system is 7 wins out of 8 trades; platinum is 32 wins out of 37 trades for 86%.
Open Positions Symbol Entry Stop Close Profit
Short Euro EUH10 144.97 137.22 135.50
Short Euro EOU 18.49 20.48 20.74 12.2%
Long Cotton CTH10 69.82 75.58 81.17
Long Cotton BAL 34.02 36.61 39.32 15.6%
Long Russell TFH10 611.00 615.90 629.60
Long Russell IWM 61.66 61.69 63.06 2.3%
Long British BPH10 154.30 151.18 152.61
Long British FXB 153.55 150.75 152.18 -0.9%
Long Soy Meal SMH10 274.50 263.50 267.00 -2.7%
Short Gold GCJ10 1096.20 1115.20 1108.50
Short Gold DZZ 14.22 13.69 13.77 -3.2%
Closed Positions Symbol Entry Out Profit
Short Canadian CDH10 94.74 94.30 440
Short Aussie ADH10 89.17 88.46 710.00
Any views expressed herein are provided for information purposes only and should not be construed in any way as an offer, an endorsement, or inducement to invest.
The quotes and symbols used in the BLOG are believed to be reliable, but no guarantees are made with regard to the accuracy.
No comments:
Post a Comment