Get Shorty

Here are some potential shorts. BAX was a nice break out today from last night.

Govies

This trade was easy, they filled their gaps, now comes the hard part. Continuations or givebacks?

One More Note

I forgot to mention TLT that I had as a short yesterday morning, It moved up a little over a buck yesterday and I still like it short. The next sector in my opinion to fail will be long term bond prices.

Shorts From This Morning

XME- DOWN $6

USO- DOWN $3.50

GLD- DOWN $3.46

TLT- UP $1.58

They sold them down today which actually surprised me a bit. Maybe triple witching tomorrow had something to do with it. I still will not fight the Fed in here. If this continues though, I would start to worry a bit more. The financials need to digest recent gains and the folks that own commodities started taking gains very aggressively today. The whole complex got crushed from oil,gold,silver and soft commodities. I still think the dollar will continue firming which in the short and long run will be great for financials and stocks in general. Choppy times ahead no doubt but I think we made the turn.

Stronger U.S. Dollar Plays on Shortside

I think the next "event" for the market will be increased noise on the G7 and the meeting in a couple of weeks to firm the Dollar. I have 4 shorts that play this. I think the inability of the dollar to go lower with yesterdays Fed cut will result in the already crowded commodity complex to decline.

GLD- short
TLT- short
XME- short
USO- already short