Off best overnight continuation levels of yesterday's rally.
Please note: no posts next week due to travel and holidays. Heading back to PR.
Exactly the type of journalistic mood I like to see . . .when I'm bullish.
|'16 wasn't awful for Bovespa|
Started buying PBR, ITUB, VALE well over a year ago. Added into the hole. Turned into a nice trade. Have scaled out 80% and will re-add as long as 2016's lows hold.
Have been doing the same with uranium stocks, CCJ and DNN. Possible others are UEC and URRE (popped 35% yesterday).
Beaten down, underowned, out of favor, cheap & forgotten. Energy proxies for a world flush with oil while moving toward a world beyond oil. Only natural gas and uranium can bridge that gap for the next 25-30 years.
AUD threatening .71446 swing point. If broken could open door to new lows below .68260.
Some strength in JPY yet again.
Still looking like EUR could hit new multi-decade lows in a month or so.
Another day of attempted liftoff. Volume not helping.
WTI crude down yet choppy. NG up over 2%.
Gold the lone standout thus far amid red peers.
Looks like a triangle in play as long as 2248.44 holds. Measured move targets 2306.62, in the 2303-2373 Fib zone.
If 2248.44 fails, there is a 1:1 Fib extension target at 2243.47. Below 2240 could get dicey.