Sunday, September 18, 2011

Trade Ideas - $GLD, $TZA, $PANL, $DUG

$GLD - Could be forming a base as Friday there was bullish engulfing candle. This could indicate that gold will continue to trade up in this box. With the uncertainty and lack of agreement on the European debit issue, I see this headed ultimately higher.

$TZA - I see the $RUT topping out after several up days. I think this is a good short term play.

$PANL - This stock is on fire with almost no overhead resistance. I'm looking for more pullback this week and pouncing on it.

$DUG - Short oil & gas play I have mentioned before. It's trading in a range and right now oil seems to be in the top of that range (see $XOI index). I see this at support but I would sell around $35 or before.

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