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DayveJohnson on the MarketsPosting my thoughts and trades as I take on the challenges that the financial markets will bring. Especially suited for end of day traders who also have a full-time job. Hopefully my years of experience can be a valuable asset to the trading blog universe. And please do your own research, I am not responsible for your personal trading decisions |
No Portfolio Changes Today. CRB Profit Time
Posted on 08/16/2006 00:00 AM | Link | Post Comment
In mid July I had noted how the CRB index had a very strong tendency to move in very discernible waves that lead me to believe the index would be topping near the end of July. That is exactly what happened.
Now that we have moved through the down wave we can expect the index to begin to bottom in the near future. Check the video if you missed it the first time through the link above.
I will be having no portfolio changes today. I have three holdings and we are in a mildly overbought condition right now. If the market rips straight up I feel the present holding of MDRX, CME, and OII will do a good job of tracking the market. CPI will be coming out at 8:30 this morning and it will have an impact on the market. Which way? I have no idea.
Have a Great Day!
Dave Johnson
dayvejohnson@gmail.com
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