Professor’s Comments Update 8/16/19
Posted by OMS at August 16th, 2019
As mentioned in my earlier Comments, when the market popped this morning, the Model added a few more shares to its position in DXD. So now the Model owns 1,200 shares of DXD with an average cost of about 28.39 which is slightly below current prices.
The trannies also got the expected pop this morning, so I’m now watching for the short term indicators to turn negative so I can begin shorting.
Earlier this week, I mentioned how violent Bear Market rallies can be. Today, you’re seeing an excellent example of what I was talking about as the shorts get squeezed.
BTW, notice how nobody likes gold anymore? Hmmm….. I still do!! Wait and see. Once the current rally in equities completes, traders will come flocking back to gold again.
Watch…
Also, looking at yesterday’s session, 59 stocks in the S&P hit new lows, which was a 3-month low. When this happened in the past, there is a tendency for the market to sell off during the next few sessions.
I like the odds on my short positions.
h
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Category: Professor's Comments