Chasing the dog days with shorts…

Posted on Aug 16, 2015 by in Letters

0814gld

 

http://stockcharts.com/h-sc/ui?s=GLD&p=D&yr=1&mn=0&dy=0&id=p20151420079&a=420770660

 

We shorted gold and XLE, And for the moment certainly wouldn’t be buying anything.  We are on hold until the present  phase plays itself out.

0814xle

 

http://stockcharts.com/h-sc/ui?s=XLE&p=D&yr=1&mn=0&dy=0&id=p68704168375&a=420770968

These are what we call no-signal trades.  In that there is nothing in the formation to provoke a trade.  Just a little homunculus in the head saying these are headed lower.  Scaled in on very small position to see what would happen.

Not recommended for conservative investors.

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