More fencing…ripostes in EEB, FXE, DIA, SPY, SLV, NYC, ETCETC

100209fxeMonday was an anomalous follow up to Friday’s hammer.  And it appeared that Friday was just a freak day sponsored by the put sellers.  But today, trading on news, the market appears to be following through on Friday’s pattern.  The news of course is that the Greeks are not going down.  So far.  So the driving force of the market for some weeks — that is the strength of the dollar and the weakness of the euro is being reversed.  As this is written this is not a proven fact.  It is informed speculation.

But if the market closes strong we will be assuming that the downwave has ended and we will be partially or totally lifting our stock hedges and our silver hedge.  Gold we’re leaving hedged for today.  Let us emphasize that these are trading tactics.  And that trading tactics under favorable circumstances turn into trend strategies.

So buyable are: EEB, NYC, FXE, DIA, SPY, SLV  and probably others.  And, of course, it could always be a trick or a false foot, but hey, you have to go with what is.  Remember no collapse on the close.

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