Oil & Gas Short Play

Oil and Gas index. Approaching resistance. $DUG is the short play when this index falls.

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.

Shorting Ideas Before The Holiday Weekend

NFLX - I've talked about this before. The head and shoulders pattern was broken and it broke though the neckline. Today after market Starz announced they were pulling their content. The stock pulled back afterhours 8% this puts it right back at the neckline. I want to short this but Im going to be cautious. Watching this closely tomorrow.

SPXU - SP500 at resistance, shorting at support with a tight stop.

DUG - Inverse ETF of crude oil.

Crude index

Market Meltdown - What's Working?

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?