Monday, 29 August 2011

Long Gold

Gold goes back to bullish on today's open of trading, according to my latest signals based on the weekly Commitments of Traders reports. See my newly updated signals table for more details on this and the other markets I'm following. All other signals remain in cash. Sorry for the late update this week - Irene knocked out our power yesterday. Hope you got through Irene okay, and good luck this week!

Monday, 22 August 2011

Gold, Copper to Cash

Just updated my latest signals table. Sorry for the late update! Two setups going to cash this morning on the open of trading: my gold setup, which was bearish, and my copper setup, which was bullish. See the signals table for more details on these and other markets. Good luck this week!

Sunday, 14 August 2011

Bearish on Bullion

Has gold topped? The Commitments of Traders data seems to be saying so. My trading setup for gold has gone bearish for Monday's open of trading. This is based on excessive bullishness by the large speculators.

See the details for this and the other markets I'm following with my COTs Timer trading strategy on my latest signals table, which I've updated based on Friday's COT data from the U.S. Commodity Futures Trading Commission. Hope you survived last week's nuttiness intact, and good luck next week.

Wednesday, 10 August 2011

BKX Bullish Trade Stopped Out After One Day

Yikes - these markets are murder. I got stopped out of my BKX Bank Index bullish signal yesterday - just one day after buying the position. Not good! The bullish copper position is still holding on, for now. But my stop isn't too far below. Good luck the rest of this week.

Friday, 5 August 2011

Trader Data Bullish for Bank Index, Copper Starting Monday

Woah - that was just plain nutso. I was expecting a big bounce off the debt deal, but this week we got something like Godzilla meets 2008 meets 1929. I got stopped out of my bullish S&P 500 signal, as reported in my post earlier today. When that happens, my rule is to look for possible discretionary trades in the other direction. But I'm not anxious to get short either. We're close to a completed 9 count of a DeMark Sequential Setup in most equity indexes (see more on analyst Tom DeMark's system here), so there could be a vicious snap-back rally early next week that will screw up a lot of bears.

That's also the take I get from today's Commitments of Traders data. As you can see on my newly updated latest signals table, my setup for the BKX U.S. Bank Index has gone from cash to bullish, taking effect on next week's open of trading.

Also turning bullish on Monday's open is my brand new copper trading setup, as noted in previous posts. Sorry I haven't posted the full testing or other info on my signals and testing pages. I'll do so soon. My maximum portfolio allocation for this setup is 6.53 percent, and my stop is 11.49 percent below the entry price.

See my signals table for more details based on the CFTC's latest data. Have a good weekend, and good luck next week.

Stopped Out of S&P 500 Trade

Woah - this crazy market is reminding me of 2008 all over again. Imagine the carnage that would have happened if the idiots in D.C. hadn't signed the debt agreement! The action this morning stopped me out of my S&P 500 long trade, which I had on since July 18. On the other hand, it's been pretty sweet for my bullish signal for the 30-year Treasury bond. Only problem - I didn't put on a trade for that signal because I didn't have any free money at the time in any of my accounts! See you later this weekend for an update based on this afternoon's Commitments of Traders data. Hope you're faring okay this week.