We appear to have had a day where things are moving back to normal in the markets. The dollar and stocks moved together, and other markets were "allowed" to go their own way. We have not seen this in quite some time, and it is too early to say the trend in this has changed, but let's cross our fingers. The Gold short I mentioned was initiated above where it is marked, and I also shorted Silver which has not fallen as much, but did play catch up some today. Since it is my well documented big picture view that we are headed down here, I am going for a big target on this one, marked on the chart. Rarely are moves that big so I have no expectations, but I have a plan and we will see what transpires. If the move continues, the DZZ trade I showed yesterday will also work out. There was a question about the Silver target. I see two there but 2780 is the main one.
VISION QUEST UPDATE
My mission on B of A has gone nowhere, the first trade I exited and lost a couple hundred bucks the day after I got into it, so basically a scratch. It broke out upward yesterday, so there is no opportunity that I see on the horizon to short this. I will watch it every single day for something along with Douchefetts stock. His stock looks the same, a big breakout yesterday. I would assume everyone has noticed that these stocks and most others look identical to the Indexes. I see no need at all other than some goofy quest like I have here, to trade any individual stocks. Unless you are a value player, which is a different story entirely. If you are a short term trader, skip individual stocks and trade the indexes. They are much more liquid, and they are almost all the same chart patterns. This is why funds can't beat the indexes. You have all the overnight gaps to deal with, and they mostly move with the overall stock indexes. As a result you have bad fills and hence under perform the index itself.
There is no point in trying to short any stocks at this time regardless of my stated mission here.
Here is something a little different from me, a great dividend stock to buy on weakness, Annaly.
You can see that even at today's price the yield is almost 14%. These guys are in the mortgage business but have nice backing in that the government guarantees their loans. Do your own research on them and make your own decision. You can see I have an alarm on my chart for when the price dips down into an area where the yield will likely rise above 15% or higher. I will be a buyer for a hold the next time we get down there. Who knows how long this could take, but it will get there again. Maybe during the decline that we should see in May it will get back down there. In any event I have this alarm in place so even if I forget about it my machine will remind me. I like the idea of dividends but what gets lost in just buying stocks for that alone, is the principal. If the stock declines 15% and pays 4% in dividends you have had your ass kicked net. You have to buy them right, not blindly.
It does also look to me like energies are in a spot where they could come down some, although selling RB requires a pair. The Bond market has fallen off a cliff the last few days. It fell from the middle of a trading range that has been a mess for months, so missing that does not bother me. I have been short the currencies the last few days and they have moved down some. I am surprised to see it with the equity strength, but if I had to guess it is a collective sigh of relief effort, and the flight to quality is going back to where the real quality is, the good ole USA.
That is all I have for now.