DRN (Real Estate) – DRN has been in a healthy correction for some time now. It’s passed the 20-day moving average in purple and looks like it’s getting support at the 50-day moving average in yellow. It may be pausing or it may reverse direction and start heading back into it’s upward trend. I’ll be watching this one closely this week.
EDC (Emerging Markets) – EDC has been consolidating for sometime with little up or down direction. Watching and waiting for a possible upside move this week.
TMF (20+ Year Treasury Bonds) – TMF has also been in a healthy correction from a long term uptrend. It’s showing support on the 100-day EMA in Orange. Will it hold for a bounce? Perhaps our patience will be rewarded this week.
RUSL (Russia) Stopped out @ $25.03 for a 3.04% loss
– Big morning gap down wiped out all of my profits and hit my stop loss. Unfortunate timing, but it could have been like the loss in UGAZ (Natural Gas) earlier this month if I didn’t establish a good point of entry. Overnight volatility (in this case, over the weekend) simply can’t be predicted, the only protection is the best entry price when the signal to trade flashes. However, with RUSL dropping 17% today, I’m happy to have exited with only a small 3% loss.
SPXL (S&P 500) Limit order filled @ $93.25
– The low for the day was $93.17, so I’m very happy with my fill at $93.25 today. I’ll be keeping my stop loss tight looking for the US Market to make it’s move upward tomorrow or the next day. We’ve entered record breaking territory, so it’s time for it to grow some wings.
– The Markets overall suffered a decent sell-off globally. The conservative investments, Gold and Bonds held on their own with Real Estate surprisingly holding gains. Many of the markets are ripe for breakouts.
– I’m happy to see EURL get filled before the weekend. A lot of the credit is been given to the fact Greece has finally come to some kind of terms on their debt obligations to the EU. We could start to see strong movement in EURL next week, I’ll still be a buyer as our previous price resistance was at $34.78 and I was able to get out at $34.90.
Most of the 12 Markets were rather flat or consistent in their direction. Natural Gas was the only hold out moving above it’s daily trading range. It’s a bit too early to call a reversal quite yet though.
– My order for DGLD (Inverse Gold) missed today’s low by .24 cents unfortunately and ended up higher for the day.