Gumby's Trading Account

[Gumby]

So you are flat on FAZ going into the weekend? Not a bad idea, actually.

It's not going to work out. The S&P has been down something like 9 out of the last 10 trading days. I figured the S&P would bounce up this morning. It will not at the open, but the gap down might get filled quickly or else we are in for a big plunge today.

It is shaping up to be an excellent day short in this market.

[etftalk]

Don't sweat it. Holding over the weekend is a gamble for traders. You never know what kind of news will be announced. You always hate to miss a nice trade, but the bottom line is we must stay alive and protecting our capital, so we can live another day and trade on.

It looks like I will win this gamble (FAZ) but I have had some bad Monday mornings in the futures market, when they've gone against me.

[Gumby]

Don't sweat it. Holding over the weekend is a gamble for traders. You never know what kind of news will be announced.

I agree, last Fall the government kept making announcement on Sundays that always rolled the market. Good luck.
Premarket
FAZ $67.91
SDS $102.84
TZA $86.22
TWM $96.20
BGZ $97.00
SRS $84.78

[Gumby]

Set stop on GDX @ $32.00

[etftalk]

Something isn't right with gold. How could it be down today? It may be time for a big pullback.

[Gumby]

Something isn't right with gold. How could it be down today? It may be time for a big pullback.

I agree. It fooled me GDX Hit stop @ $32.00 Loss 3.9%
Stopped out of CAT @ $23.00
Looks like the market drop is accelerating

[Gumby]

GDX down $2.00 this morning. I guess traders are taking flight.
I would have thought it would be up that much.

[etftalk]

Tough to put the clues together. Stocks down, gold down, oil down, natural gas up, dollar up, bonds up (yields down)...

Natural gas (UNG) actually looks like it wants to go higher. Deep downtrend, but outside day last week on big volume with close to the upside,and today some follow through but now bumping against the 20-DMA. This sucker has been hammered.

[Gumby]

Atilla predicts a sell off..S&P below 700

Long FAZ @ $73.45

[Gumby]

I think I may have this figured out. I buy FAZ...it goes down. I sell and it goes up. I guess I will have to reverse signals

Long USO @ $24.65
Not an ETF, but I shorted BBY @$27.51