BUY PD.UN.TO $6.74
BUY DVAX $1.76
SHORT PMC $17.68
The weak US$ was the story of the day helping equity markets rally as commodities climbed higher. Gold and Oil finished strong as the US$ was down almost 1%. The greenback has found some support around these levels so we will see if it is able to break these levels or rally back to the downward trendline. As I mentioned last week, we were hugging the bottom trendline of the rising wedge and we would either get a bounce higher or a breakdown out of the wedge, possibly signalling a larger correction. However, the powerful 50 day MA was key today as the indices bounced off this level and continue higher. We have seen this now time and time again as the markets correct, buyers step in to help continue this upward trend.
BRCD was my big winner today (+19%) on talks of a possible sale. This helped to rally tech shares as more M&A deals are on the horizon.
Will be scanning the markets tonight for long and short setups!
BUY DVAX $1.76
SHORT PMC $17.68
The weak US$ was the story of the day helping equity markets rally as commodities climbed higher. Gold and Oil finished strong as the US$ was down almost 1%. The greenback has found some support around these levels so we will see if it is able to break these levels or rally back to the downward trendline. As I mentioned last week, we were hugging the bottom trendline of the rising wedge and we would either get a bounce higher or a breakdown out of the wedge, possibly signalling a larger correction. However, the powerful 50 day MA was key today as the indices bounced off this level and continue higher. We have seen this now time and time again as the markets correct, buyers step in to help continue this upward trend.
BRCD was my big winner today (+19%) on talks of a possible sale. This helped to rally tech shares as more M&A deals are on the horizon.
Will be scanning the markets tonight for long and short setups!
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