Friday, January 23, 2009

Wrong, but in the right way

Totally wrong call on my part off the oversold reading. Everything's lower since then.

This week, I felt like the bad news out of Britain (nationalization rumblings) drove the news flow.

Positions are playing OK here.

TBT, put some more on with a 39 handle, took it back off yesterday for 5 sticks, primarily because Suze Frickin' Orman recommended it on her show.

Gold is hanging in there. This morning, futures look like it's going to pop above trendline.

Added some SRS, so I'm up to 400 now with a basis of 59. Wishing I'd hit that bid above 70 so hard it rattled teeth.

Couple of the microcap golds are playing well. NXG popped a multi-top and held it. Time to pyramid a little bit there.

Literally tons of oil charts - NE, DO, BP -look like they're basing. I tried for some DIG at 24.50, but just missed it. Look like they'll be coming back today as well, so being patient with them.

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