Wednesday

9.9.29 vs 9.9.09: Is This The Peak?

Post a Comment September 9, 2009 – 3:06 pm |   | Permalink |  Print This Post |

Our short term indicators suggested a down night tonight, which we seldom act on by itself unless markets move the opposite direction pre-open to give us a generous margin of error. However, everything is pointing to a rally tonight - the USD remains slaughtered, the FTSE hit 5000, the Dax is on higher highs, along with NIFTY, and NASDAQ (we have no doubt more will join this list of rolling year highs). Just out of interest, the Great Depression’s first post-crash rally (Elliot Wave traders call it wave-B) topped on the 9.9.1929! Could tonight be the night?

Before we forget, we made a few more trades tonight as part of house keeping. Our portfolio is looking quite full. As other opportunities develop, we feel that we need to move out of some positions to take advantage of better opportunities out there:

• Sold Citigroup (63% return, $895 profit) Bought : $2.80 ; Sold $4.59
• Bought 1000 units of Agriculture ETF at 5.815
• Bought 10000 units of Natural Gas ETF at 0.49