This Could Be The Next Big Thing!
The big story of the day is the sharp and generally unexpected sell off in
oil. The trend followers were caught off guard when a multi-day advance
suddenly reversed near the top of the price range.  As you know, I
entered oil short at 64.97 and am holding here with nice profits. I am
maintaining my bearish stance on this commodity. The bullish hype is
simply way out of control. Short/profitable
In my never ending quest to find the next big thing, here’s somethingÂ
you may want to look at, The Iraqi stock market. Yes, you heard me
correctly, there is an operating stock market in Iraq. Although, its
extremely risky, there are bargains galore. If you ever wanted to get into
something before most other people, this just may be your chance. Here is
their website https://www.isx-data.com/ .
DJIA
The system was very active yesterday in the dow. The trailing stops
closed the position entered earlier, changing the lower channel line to
10563. Shorts were executed, once again, when this level was violated,
catching the additional down wave of yesterday and this morning as of this
writing. My studies are indicating the next support level is 10493.Â
Short/profitable
The Dollar
Wow, the EUR/USD pair is collapsing short term.   I am short
from 1.2203. Holding with small profits. Short pair/profitable
US Equities
(
GOOG |
Quote |
Chart |
News |
PowerRating): Man, my earlier short call was right on! Too bad I didn’t stay
in for the entire move! My strategy here is to short should 269.97 be taken
out. It is very possible that this stock will trade sub 200 in the not so
distant future. Flat/short bias
(
EBAY |
Quote |
Chart |
News |
PowerRating):
This auction house is continuing to drop adding to our short profits.Â
Holding here. Short/profitable
(
PLMD |
Quote |
Chart |
News |
PowerRating):
Our short level of 35.77 triggered the short entry into this
one. Holding here with profits. Short/profitable
I could not locate any other candidates to add to the portfolio or watch list
that met my criteria. Will expand the list once these gems are determined.
Best wishes in the market!
DaveG
David S. Goodboy (marketsurfer) has been trading
professionally for over 14 years. Mr. Goodboy trades ETF’s, stocks, index
futures, energy futures and options. His primary focus is a unique multi-time
frame index trading system based on a combination of time/price cyclical studies
and statistical models. David was a trader/partner with Biltmore Capital, traded
with an option arbitrage firm, and is currently in the launch stages of IntrendX,
a global multi-strategy fund.