That's one of the reasons I don't try to frontrun things, better to be a trend follower/momentum player-end up looking silly for getting caught flatfooted out of the market on the 90% updays instead. :rolleyes:
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That's one of the reasons I don't try to frontrun things, better to be a trend follower/momentum player-end up looking silly for getting caught flatfooted out of the market on the 90% updays instead. :rolleyes:
I haven't forgotten about UGA, but been watching for a few months now.
UGA, pivot point around 35.77 off a 4 week base. Base isn't tight enough to qualify as a cup and handle, but volume has dried up in textbook fashion during the basing period. Support at 10 WMA, watching for a break of 35.77-36 on volume.
Might be worth another shot when oil makes another run at a higher high.
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Nenner was on Bloomberg radio two weeks ago. He basically said opportunities are very limited at this point on the buy side. Hey I was thinking. The title of this thread will soon be asking when will commodities turn down?
Interview with Charles Nenner on HedgeFundRadio. Scroll to the bottom of this link.
http://www.madhedgefundtrader.com/Hedge_Fund_Radio.html
Always entertaining, that Nenner.
I listened without taking notes so I may have to relisten to confirm, but it sounds like he says:
- Stocks will peak after 1st week in Jan 2010.
- Nat Gas's recent run will peak at the end of December
- The dollar will peak in Feb 2010
- Commodities look better in 2010, as does the euro & yen.
- Interestingly, gold will also peak with the dollar ($1240 or in Feb), which doesn't sound right.
I wasn't too impressed with his call last spring.
Additional thoughts from Nenner. Basically a recap of his major themes. Great call on Gold.
http://blogs.forbes.com/streettalk/2...ls-market-top/Quote:
At the Friday close, technical analyst to the hedge fund stars, Charles Nenner, put out his long awaited sell signal on the S&P 500, with the market’s definitive break of the crucial 1,125 support level. From here you sell into the rallies.
Thanks! I thought Nenner sold in October? Maybe he did, but he's now making it official for his clients. I guess if I just read it I might find the answer. :)