No doubt keep a close eye on energy this week and short the current pullback in Tech (thanks Anar!), giving yourself multiple options when the market picks a side... Could be a week, could be two weeks, could be another month (although I doubt that), but stay patient and wait for the right entry point.
MJTT's Daily T.L. Picks: NUE, FCX, BTU, NAL, ACI, BHI, GG, UYM, FAZ
MJTT's Weekly T.L. Picks: CVX, FAZ, ERX, SSO, GT, NOV, DRYS, GAS, ENER, TNA, EBS, TZA, NUE, FCX, BTU, NAL, ACI, BHI, GG, UYM
Call me crazy, but I have a buy order in @ $57.35 for FAZ. With the way that stock moves throughout the trading day, it would be a shame not to trade it. Any bad financial earning this week will put this through the roof, making this iETF a very short, profitable squeeze. BE CAREFUL THOUGH; you could really get kicked in the face with Financial iETFs due to the sector's unpredictability, so if you do not know how to trade them, DON'T. Wait until the market chooses a direction and sit this week out. With WFC reporting their earnings on Wednesday though (Pre-Market, by the way), I hope to see my buy order get put to work tomorrow. If not, I would settle with a $59-$60 buy on FAZ with a sell out of the bell Wednesday before the market recovers from WFC shell-shock. This is when, in my opinion, you'll see Gold soar (watch the GLD) and the UYM go back up around the $13's.
Watch this week CLOSELY, it's going to be a crazy one! Until tomorrow...
Keep Tradin'
ZM
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