TruCharts.com Blog update - Markets closing Friday 10/03/2014
Stock Markets closed strong today - all three major indices were up. Expect some pullback but we expect to see follow through on Monday and expect volatility to drop. We will still look to short GM stock. We think that the recalls are going to adversely affect their earnings. Sell any rallies and gold broke down today - which we think is a bad sign for gold bulls. We had indicated in one of our earlier blog updates that GLD had broken a major trendline and this was a bearish sign. We will be closing some gold miner positions and keep writing covered calls on the junior gold miners in our portfolio. We will also look to go long SBUX for a short term trade.
Check on our site later today after the reports are updated to find stocks that are buy candidates for this short term move up or for stocks that can be shorted - at www.trucharts.com/marketreports.aspx
TruCharts Team
No comments:
Post a Comment