Short-Term Trading Update – as of December 11, 2009
Again, no significant correction in the equities but some commodities including gold, silver and oil are correcting.
S & P 500 (ES) – Weekly Uptrend is hanging in there but daily is negative. Buy closed out at end of 18th bar for small profit.
Sugar (SB) – Very choppy action looks like a triangle. Weekly trend is still down so no trade in spite of the large upward move.
Silver (SI) – Trend in silver is still up but barely. But ,marlet is oversold so a bounce is likely even if trend down is confirmed later. No trade.
Gold (GC) – Short term Trend is down but is very oversold now. A bounce is likely.
Soybeans (S) – Short term trend is down but is oversold. No trade for now.
Cocoa (CC) – Trade long on 12/01 at 3353. Stop at 3274.
Dow Jones (DJ) – Trade closed out with small profit after 16 days. Trend is still up but no new trade.
Soybean Oil (BO) – Long trade was closed out after 16 days with slight profit.
Coffee (KC) – Trend is now up but no trade yet.
