BROAD STOCK MARKET TRADE ALERT (1:00 pm EST)
This morning the DOW and S&P 500 made new weekly highs while the NASDAQ did not, and all three are now falling steeply and will likely close in the lower part of their daily ranges. As I explained in yesterday's blog, this look's like
a good time to sell and take profits in our long position. We entered this position on March 27 and have a profit a little over 4% in the DOW for a three week trade. I am selling my long position in the broad stock market now.
Our strategy from here will be to watch from the sidelines any correction to see how low it goes. If it stabilizes between the 45-day and 15-day moving averages, we will look to buy again for another rally into May. After that, we may switch to bearish strategies as the long-term cycle correction could kick in.
It appears that gold and silver are finally taking their corrections as we have been predicting, with both prices falling steeply today which is good for our short position in gold. We will also be looking to buy the bottom of these corrections, as long as they don't go too low. Holding our short position in gold today and still out of silver.
This morning the DOW and S&P 500 made new weekly highs while the NASDAQ did not, and all three are now falling steeply and will likely close in the lower part of their daily ranges. As I explained in yesterday's blog, this look's like
a good time to sell and take profits in our long position. We entered this position on March 27 and have a profit a little over 4% in the DOW for a three week trade. I am selling my long position in the broad stock market now.
Our strategy from here will be to watch from the sidelines any correction to see how low it goes. If it stabilizes between the 45-day and 15-day moving averages, we will look to buy again for another rally into May. After that, we may switch to bearish strategies as the long-term cycle correction could kick in.
It appears that gold and silver are finally taking their corrections as we have been predicting, with both prices falling steeply today which is good for our short position in gold. We will also be looking to buy the bottom of these corrections, as long as they don't go too low. Holding our short position in gold today and still out of silver.
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