Journal Entry Feb. 18
Game Plan - Play the macro themes. Position trading emphasis. Intraday trading via baskets only.
Campaign -Only trade your levels from Trade Sheet. Major credit event (e.g. 1971Nixon closed gold window, 1929 Humphrey devalued dollar) to push value of Gold higher.
PRIORITY- First GOLD. Market might
crash. Failed H&S patterns everywhere. VIX double bottom still
valid and highly probable. SKF/FAZ
SPX 806.50/807, 810 triple divergence resistance…
CRB Index collapsed on Tuesday breaking its base and testing 200.
However, MSCI did not break down, instead testing n/l and fib. level
around 2970. Concern is no recovery in demand. CRB going to 187. Avoid
commodity stocks. Perhaps the break in CRB is what caused late session
selling in gold stocks.
Nikkei breaking below 2002/03 lows!
OIX weekly bear flag continues. Targeting 300-350. How do we play this move?
SOX weekly pennant. Massive downside leg imminent if no recovery pending. Potential for 50% haircut.
DOW INDU: 7450
NAZ: 1435, 1400
SPX: 768, 750, 747, 741,
FSLR short?
QID >56.85
ERY breakaway gap.
FAZ breakaway gap.
SCO breakaway gap
BGZ breakaway gap.
SDS breakaway gap. Buy 84 test.
SSG buy here and park it.
BAC is a buy soon…
Watch builders for long trades: CTX, DHI
DRYS back to Nov. lows around $4. Swing trade?
