Stocks..
DXJ…this ETF is starting to trade like the UNG ( Natgas ETF) with the price action on Tuesday.
Readers know that I’m not a fan of the Natty Etf’s and I’m becoming sanguine about this instrument as well.
30 Bonds…
30 yr. (Mar)…are getting short term oversold again. Sell 2 point rallies, not breaks.
FX…
USD/JPY…it wouldn’t surprise me to see 106.70 ( App 93.72 Futures)
by the first week of 2014.Commodities…
by the first week of 2014.Commodities…
December metals futures expire today.
General Comments orValuable Insight
Leave the orders from Tuesday working (No Change).
The Swiss just isn’t ready to go. I had a trade like this is the Aussie earlier in the year that took almost two weeks before it worked.
Aussie just stayed in a 100 point range before it went almost 700.
You have two choices when a trade just won’t get up and go;
Get out hoping to hit it when it does start or you can just close your eyes and let the stop do it’s job.
Markets will remain extremely thin!
Instruments tend to travel in the direction they’ve been moving into year end.
Short Term View…
Keep trading to make money. The opportunity will be in individual names.
Individual stocks look to be an easier read based off their own technical s.
We’re looking for the Equity Indices to rally through the first week of the year.
Current Positions….
Entry Stop TGT
APPL Long 520.70 518 600
SSO Long 98 96.80 104
SFH Short 111.76 112.25 126.00
USH Short 130.08 130.11 intra day GTC
DXJ Long Jan 14 52 Call .43
Today’s Working Orders
Buy
USH @ 128.03 to cover shorts
Buy SFH @ 111.23 to cover 1/2 our short position GTC (app 89.95 USD/CHF)