What can I say? Not much going on... Price is still being driven by politics, not the strength of hardworking Americans and seasoned managers. The indexes are all down, peoples IRA's, 401K's, and annuities are being further decimated.
Here's a look at our leveraged bear market moneymakers:
- FAS/FAZ, Financial Sector: FAZ, up 5.25% today
- ERX/ERY Energy Sector: ERY, down 1.12% today
- TNA/TZA Small Cap Sector: TZA, up 6.37% today
- BGU/BGZ Large Cap Sector: BGZ, up 2.43% today
TZA and BGU are in confirmed rally's, and are pretty much oversold.
FAZ is very choppy and not as reliable to hold overnight.
ERY is choppy, oversold, and in a confirmed rally all at the same time.
As long as there are politicians, the markets will have a level of fear. These days, that fear is on steroids. Through these ETF's I am cashing in on it! Since fear levels vary from day-to-day, it is best to trade what you see from hour to hour; no long-term positions yet.
Generally speaking, the market is very oversold; we are now down to second-term Clinton era recession levels now; Price wants to be free to run.
Since the trend is down, we will likely gain from the above mentioned ETF's again tomorrow.