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Re: U.S.$ Index/Andrew
In Response To: Re: U.S.$ Index/Andrew ()

Tough question. Most everything is rolling over now. Especially commodities. The SPX and other stock markets are also at critical levels and I've been expecting them to selloff significantly for some time now and only recently have been doing this. Big test of the breakout point support on the SPX around 1340 is taking place now. This was the major breakout pt of the Feb high that ran up to over 1370 and is being tested as support now on the pullback. I don't think it will hold successfully but the market doesn't care what I think. So right now is a very dangerous time to make any solid bets with your money. The most important thing to accomplish with trading is not losing money. After that look for good setups to show up and take the best trades and have a solid stop loss in place. And better yet have a trailing stop and let the market decide when to sell on a profitable trade. But meanwhile the market looks to be at a critical point that could turn on a dime either way. I definitely don't want to be on the wrong side of the turn which ever way it decides to go. The only thing that is ever right is the market. "IF" the U.S.$ does start a run up there is the double bear EURO ETF:EUO but like UUP it is structured so there is very little dollar change in a run up. But it is double so has more movement. It is also bumping up against its 50ema with price resistance pts above at 18, 18.80, 20 and 21.65. So again a lot of resistance to deal with. The ZSL double short Silver ETF I've mentioned before is a wild and high beta trade that tends to whiplash most traders both ways. And it wont just crash and burn either and will have strong countertrend rallies to deal with. SLV is the single long ETF for Silver. Gold is holding up better and selling off somewhat with support at 1445. Precious metals seaonal weakness tends to be from now into July/Aug. The double short SPX is SDS and triple short SPX is SPXU and double long SPX is SSO which can be day traded as well. So no easy clear cut trades that I see at this point. And even with a recovering U.S.$ and continued selloff in commodities and stocks there will be countertrend rallies in each that will make trading tricky into summer and fall. Most important is to be very fussy on what you do trade from here with a solid stop loss in place as you will likely get stopped out more often now than before.

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Re: U.S.$ Index/Andrew