ETF Leveraged Daily Trading Service For 10-15-2015
Summary UVXY continued to give us nice profit. Gold miners are still looking up but is caution warranted? Call for leaning short the market came to fruition. (Subscribers received early access to this article here .) INDEXES Yesterday I said it’s hard to be bullish on anything with the kind of a market turnaround we had on Monday and that overall I still see problems all over the place. Today we got a worse than expected retail sales report and lower producer prices fitting perfectly in with my deflationary scenario. The market at first shrugged it off in a bizarro world fashion, but then began to fall, rebound and fall again. I said to keep an eye on (NYSEARCA: UVXY ) for clues and 2 days ago, before broke 35 I said it will give us a tremendous buy. Today broke over 40 before settling in at the close at 38.21. It’s down a little after hours and right now in buy the dip mode. That run up could have been caught for a trade once it broke 37.92 using the higher high rule. I caught it for almost 2 points, but I also like taking profit and do so more quickly on as it can turn on you sometimes. While news can cause a short term move one way or the other, we saw (NYSEARCA: TWM ) trigger as a buy at tomorrow’s open if it is higher than today’s close per the Trading Rules. Keep an eye on China and Europe for some direction if aggressive and looking to go long all of the short market indexes that are green on the monthly; (NYSEARCA: TZA ), (NYSEARCA: SPXS ), (NYSEARCA: SPXU ), (SQQ), (NYSEARCA: SDOW ), (NYSEARCA: SDS ), (NYSEARCA: QID ), (NYSEARCA: DXD ), and (NYSEARCA: FAZ ). (NASDAQ: BIS ) bucked the trend today but is still a good potential if the market continues to fall. I have to lean towards this trend but conservative investors will wait till we get more of these monthlies turning green on the weekly again before jumping in. (NYSEARCA: SVXY ) turning red on the weekly helps with our trend analysis to lean short the indexes. A few more greens on the weekly and we can get our more reliable trend to trade again instead of the last month of volatility. CHINA/RUSSIA/EMERGING I was a little early in (NYSEARCA: YANG ) and (NYSEARCA: RUSS ) yesterday as they both opened lower and stayed lower despite the move down in U.S. markets. I am still a fan despite today’s price action. Yesterday I said I would be a buyer of (NYSEARCA: EDZ ) if over 40.10. It only got to 39.71 which I would be a buyer over that price tomorrow. INTEREST RATES Yesterday I said I still like (NYSEARCA: TLT ) for a longer term trade as I have been saying for months. It was up 1.08% today and still liking it. ENERGY Yesterday I said I would go long (NYSEARCA: DWTI ) over 95.50 tomorrow. It opened at 96.22 and moved as high as 98.39 before closing lower at 94.46. I would buy (NYSEARCA: UWTI ) over 11.45 tomorrow for a possible few day trade and see if we can’t get back down to the 60’s to swallow up and ride to the 100’s again. I would however still be a buyer of over 98.39 but only for a scalp. I don’t think we’re quite ready to go for the home run yet. (NYSEARCA: UGAZ ) I said I would wait till Thursday’s report for some action to trade. I want to lean long but why gamble? Wait for the report to come out and jump on the higher high per the Trading Rules. (NYSEARCA: ERX ) I said yesterday we need a little more patience for a trend to set up. It may have started today as it moved up 2.4%. For aggressive traders I would attempt a long tomorrow at the open if it is higher than today’s close of 34.53 or if conservative wait till it is over 34.96 to go long. GOLD MINING RELATED ANALYSIS Yesterday for the miners I said we may still have one last push higher to grab the last bit of bulls for gold and silver and take them to the woodshed one last time. (NYSEARCA: GLD ) joined (NYSEARCA: SLV ) and turned green on the weekly and monthly now and (NYSEARCA: GDX ), (NYSEARCA: NUGT ), (NYSEARCA: JNUG ) and (NYSEARCA: GDXJ ) all had great days. They probably have a little more room to the upside here as we approach the $1,200 to $1,220 mark in gold I have been looking for. The dollar moved lower on the data that came out today and many think a rate hike is even further off because of it and view this as positive for gold. I said I will be all over (NYSEARCA: JDST ) soon enough and if you read my Current Thoughts the last week you’ll know how I view the dollar and Euro and how I see things unfolding for precious metals. A few days ago I said you can’t ignore this strength in the metals and miners and today would indeed qualify as a “push higher.” Expect a little continuation and then a pullback and look for the potential of a higher high in . I won’t say we’ll catch the exact moment will turn higher, but we’ll come close. (click to enlarge) (click to enlarge)