6% drop in market and yes there are stocks and ETF's that are working nicely:
Summary: Commodities, Precious metal & Government Issue Bonds
TLT - 20 year Treasury ETF
DUG - Oil is not working and is falling rapidly along with the value of the dollar. This ETF shorts oil and gas.
FXF - This ETF trades on the surging value of the swiss franc. The price has risen parabolically and is massively overbought. I would buy this on a rare pullback. (trade idea given to me by my buddy JN)
GLD - Gold has had a majorly awesome run. It is approaching a very overbought level. I anticipate gold to plummet at the first sign of bounce back.
SLV - Silver has been on the comeback trail. Thursday's drop last week and weak performance for next 2 trading days makes this a risky trade. I see a potential bear flag forming. If it falls below the drawn trend line, I'd look for support at the 50ma.
CORN - Showing support at the 50ma. Good haven during troubled times?
No comments:
Post a Comment