abbreviated update
We updated our watch list and will be doing some additional reporting next week.
UNG has now gone into a buy state.
AXAS is a buy-if – previously buy-if’s needed to be bought prior to a buy signal in order to realize the full move.
DBA is also a sell now.
GLD is now officially a sell as expected.
Gas Alert
One of the areas that have been of concern is natural gas and it’s unwillingness to have partaken in the current run that oil has. Much of this has been attributed to the lack of industrial demand thereby causing supply bottlenecks. However a few other fundemental factors are in place that would fuel a rise in gas over the course of the next several months.
We’ll be adding a few other items to our watch list, specifically UNG and AXAS. UNG would be the 2nd part of our energy ETF holding, since DBE is already a half position. We have our powder keg dry in our special situation section – so AXAS and perhaps more UNG may make a part of it.
UNG, if all goes well should be a confirmed buy by tommorow. AXAS is still in a waiting state.
Mid-Week update
As we monitor our signals, the only signal with a confirmed sell at this point is DBA.
It’s opening price this week was 27.600 therefore if the price closes below this the signal will be a confirmed sell. All other buy or sell signals are in an unconfirmed state.
Oil continues to climb higher, and with that our DBE position. We expect the buying to come to and end, and how much higher oil goes is anybodys guess. But with nice gains in DBE we aren’t going to let them be caught in a sharp downdraft, which usually accompanies any commodity such as oil. An option is to keep the smartstop in place, but as the action accelerates you may want to put a trailing stop and keep it tight.
We’ll look at the signals on Friday. It will be an abbreviated post..with more to follow next week.
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