Markets sold off heavily today as fears about China's trade deficit slowing affecting the demand in commodities. THe uptrend looks like it may have reversed as we've seen lower highs and many of the indices breaking below the 50 day MA, which has held since the rally started.
I think we are headed lower from here if we can't trade back above the 50 day MA.
Current positions:
Short VALE, GLD, TCK/B.TO
Long SBUX, OCZ
I think we are headed lower from here if we can't trade back above the 50 day MA.
Current positions:
Short VALE, GLD, TCK/B.TO
Long SBUX, OCZ
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