Matt, yes thanks for the SRS update and the GOOG short update. I shorted GOOG this morning and closed the short near today's low. Will look to re-enter when it breaks below 537. With SRS have been trading this one over the last few weeks - has worked out well.

Someone mentioned FXP the other day, any thoughts? Looks like a nice pattern on the daily chart.

doc, that's close to what I've been doing. In my longer term accts I've held most of my SRS position. In the trading acct the trades have worked out nice. If we loose support on the daily uptrend line on the SPX or breakout on Matt's daily SRS chart I'll add to my SRS position for a longer term swing trade. Following SRS in this bottoming pattern over the last several weeks has worked out nice! Thanks!

rp, doc

same here on SRS, which has been a good trade over the last several weeks, neg div showing up on the SRS 15 chart. Still have a small position will add depending on the mkt

thank

zara...

also interested is what SRS holders plan on doing. I just took some profit on SRS. Been watching IYR hold 68 and seeing neg div on the SRS 15 min charts. Still holding some of my SRS but didn't want to loose a nice gain. If the mkt breaks down or IYR beyond this point may back back some of those SRS shares. 

Matt's $SPX 60 chart in the Blog header is testing its uptrend line

Watching USO and OIL for some overhead resistance at their 8 sma may add to my DUG position.

Watching CY a post from another site, its had a low vol pullback and looks like it has found some support at its 20sma 27.52 with some resistance overhead through 28.12. It's on track to exceed its avg daily vol.

Michael, did the same. Sold half my position at 33.55, I've had it for several days, and bought back the shares at 32.60. Will hold these and following what Matt's BPENER gives us. Still have a small position in SRS. Was watching CNBC near the close and some talking head was getting all bullish saying the worst was over and it was time to get back into stocks. I just don't see it, waiting on the sidelines looking for the time to short.

Matt, did close my gold (DZZ) short at 31.40, I've had it for some time so it was a nice profit - thanks!

rp, you were answering my question as I was typing. Do plan on holding my gold short, also have a DUG position and an SRS in the trading account

Thoughs on holding gold shorts through tomorrow's fed. announcement?

Looking at $usd daily with the strong divergence and the recent 20 crossover on the slow sto - just wondering if it will push through 73 resistance? Perhaps even with a .25 cut we will not see any weakness - thoughts?

Matt,

this sounds great, I've tried reducing the number of trades I make, and your setups for energy, precious metals, and now the real estate sector - will hopefully make the trades I do make much more profitable.

Thank

rp, also just took a position is SKF in an ira account. My issue today has been the DUG position.  Will wait and see through perhaps wednesday. Still holding my DZZ will also be an interesting next week for gold.

dodger, thks

Matt,

Could you post one of your 60min index (spx) charts that's dynamic using the slow sto settings.

Check the blog link, but looks like different settings, wanted to save it into Stockcharts.

Thanks!

Any thoughts on the rate announcement scheduled for Wed at 2:15. I know a week or so ago when gold spiked was some speculation that the mkt expectation of a .5 rate cut. Given the mkt bounce we have had recently, coupled with a recent small bounce in the dollar, and the high cost of oil I'm not sure we would see any cut. Of course I might just be hopeful, given that I'm also short gold and have a DUG position.

I wonder what the current mkt expectation is, a .25, .50 cut? I'm light on the long side, I guess wait and see.

Isn't the Fed meeting sometime soon on a rate cut, and is the mkt expecting a cut?

Matt,

nope didn't cover, held onto my GLD short and its looking good. :-)

rp, doc

Have been scaling into DUG this week, and did pickup SRS around 85 and did buy ZNH before it took off! Thank

SMH is ETF for semis

USD is ultra long on semi