i think,
NEM is about to retest 50 or lower. energy costs have really hurt their bottom line, this past 90 days.
FCX has been hurt too.
here’s why I think FCX is the much better trade.
FCX has support around its 200 day.
here’s why. http://zstock7.com/?p=4616
Check out volume on UUP, yes – many are going to cash, it’s hand-in-hand.
so, educated guess, dollar continues up, market tanks along with commodities.
Well, have good weekend everyone. I don’t have a clue about Monday, as we technically had a 61.8% retracement today. That makes you wonder if Monday will go up… or tank? It’s too hard to predict that kind of move.
I saw that 61.8 FIB get hit on SPX and I didn’t get my sell executed. Darn… I shoulda known, oh well. Not sure this market is ready to roll over just yet. I think this is a huge shake out for a move up to the 1400+ area. “rumors” are always nice to move the markets whichever way they want to. Remember”S&P credit downgrade” rumor? This Greece rumor would be a nice one to shake out traders. We shall see… 🙂
SLV Weekend update:
http://niftychartsandpatterns.blogspot.com/2011/05/slv-weekend-update.html
i think,
NEM is about to retest 50 or lower. energy costs have really hurt their bottom line, this past 90 days.
FCX has been hurt too.
here’s why I think FCX is the much better trade.
FCX has support around its 200 day.
here’s why.
http://zstock7.com/?p=4616
Check out volume on UUP, yes – many are going to cash, it’s hand-in-hand.
so, educated guess, dollar continues up, market tanks along with commodities.
Dollar tank?, stick save. sounds so easy eh?
Well, have good weekend everyone. I don’t have a clue about Monday, as we technically had a 61.8% retracement today. That makes you wonder if Monday will go up… or tank? It’s too hard to predict that kind of move.
Pomo injections early next week……)
Could be Kevin? Hard too say if this is all the selling and we go up to 1400+, or if we have another leg down next week after a bounce.
I saw that 61.8 FIB get hit on SPX and I didn’t get my sell executed. Darn… I shoulda known, oh well. Not sure this market is ready to roll over just yet. I think this is a huge shake out for a move up to the 1400+ area. “rumors” are always nice to move the markets whichever way they want to. Remember”S&P credit downgrade” rumor? This Greece rumor would be a nice one to shake out traders. We shall see… 🙂
Gap filled…
New FP…
http://bbs.cobrasmarketview.com/download/file.php?id=2549&mode=view
I think so too Robert, but I think there will be some more selling here soon. I don’t think the bottom is in for today just yet.