BUY JADE $3.79
SHORT SPWRB $24.09
SOLD MGAM $6.11
SOLD 1/2 NEP $5.08
SHORT JACK $19.06
SHORT ARP $6.66
SHORT PVX $6.33
SHORT TXRH $10.06
SHORT STC $10.15
SOLD 1/2 NEP $5.05
SOLD 2/3 BX $15.15
Markets continuing to narrow in the rising wedge. I don't like the action in this market right now. As markets are making new highs, the MACD is going lower, which is indicating slowing momentum. Combine this with the "typical" bearish rising wedge and the bounce we have had since the March lows, I think we are going to have a correction from here. Caution should be taken!
Markets took a nice kick in the teeth today. Oil was down over $2, therefore dragging down the CDN$ vs the US$. Markets are at a critical point here, either testing the 20 day MA or the bottom trendline of the rising wedge. If this breaks, we will see a nice correction. I took on some nice short positions today to protect against some downside risk.
Current short positions: ARP, FCS, JACK, LXU, PVX, SPWRB, STC, STEC, TXRH
Here is my strategy going forward the next 2-3 years:
Long Equities, Short US$, Long Oil, Long Gold!!
SHORT SPWRB $24.09
SOLD MGAM $6.11
SOLD 1/2 NEP $5.08
SHORT JACK $19.06
SHORT ARP $6.66
SHORT PVX $6.33
SHORT TXRH $10.06
SHORT STC $10.15
SOLD 1/2 NEP $5.05
SOLD 2/3 BX $15.15
Markets continuing to narrow in the rising wedge. I don't like the action in this market right now. As markets are making new highs, the MACD is going lower, which is indicating slowing momentum. Combine this with the "typical" bearish rising wedge and the bounce we have had since the March lows, I think we are going to have a correction from here. Caution should be taken!
Markets took a nice kick in the teeth today. Oil was down over $2, therefore dragging down the CDN$ vs the US$. Markets are at a critical point here, either testing the 20 day MA or the bottom trendline of the rising wedge. If this breaks, we will see a nice correction. I took on some nice short positions today to protect against some downside risk.
Current short positions: ARP, FCS, JACK, LXU, PVX, SPWRB, STC, STEC, TXRH
Here is my strategy going forward the next 2-3 years:
Long Equities, Short US$, Long Oil, Long Gold!!
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