SPX (S & P 500) Put in a Slightly Higher Bearish Double Top Very Short Term Wave 1 Cycle High Late Today
SPX (S & P 500, http://stockcharts.com/charts/gallery.html?%24spx) put in a slightly higher bearish double top very short term Wave 1 cycle high late today 11-14-08 (Wave 1 of the short term Wave 1 upcycle since yesterday 11-13-08), see http://finance.yahoo.com/q/ta?s=%5EGSPC&t=5d&l=off&z=l&q=c&p=&a=m26-12-9,p12,fs,w14&c=. At session's end SPX was doing Wave A down of a very short term Wave 2 downcycle.
Based on the nature of cycles, SPX and NDX/RUT/any other indexes that put in important cycle lows yesterday, should put in a cycle low early next week not far above yesterday 11-13's cycle low, such that the important upcycle's trendline begins relatively flat. This means that I'll be looking to day trade SPX/NDX/RUT ultra short via SDS/QID/TWM early on Monday.
Because DUG (UltraShort Oil & Gas, http://stockcharts.com/charts/gallery.html?dug) is in a Wave C of Wave C downcycle since yesterday 11-13-08's cycle high at 48.50, I won't be trading it again until it bottoms.
Once Wave 2 down of the SPX/NDX/RUT short term Wave 1 upcycle since yesterday 11-13-08 bottoms, I'll obviously be looking to trade ultra long via SSO/QLD/UWM and/or I'll look to trade the gold/silver stock sector long via GDX/AEM/EGO/SSRI or the oil & gas sector ultra long via DIG.
Looking at the gold/silver stock sector, GDX/HUI/XAU (http://stockcharts.com/charts/gallery.html?%24hui) ended the session in Wave A of Wave C of the very short term Wave 2 downcycle that began shortly after today 11-14-08's open, of the short term Wave 3 upcycle since yesterday 11-13-08, see http://finance.yahoo.com/q/ta?s=%5Ehui&t=5d&l=off&z=l&q=c&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c=.
The very short term GDX/HUI/XAU Wave 2 downcycle will probably do an inverse Elliott Wave 12345 pattern (down up down up down), that's also an Elliott Wave ABC down up down pattern. The inverse Elliott Wave 12345 pattern (down up down up down) tends to be a good check of whether an Elliott Wave ABC down up down pattern has bottomed.
GDX/HUI/XAU (http://stockcharts.com/charts/gallery.html?%24hui), based on the nature of cycles, should bottom not far above yesterday 11-13-08's cycle lows, though, yesterday's cycle low was a short term Wave 2 cycle low, which obviously isn't nearly as important as SPX/NDX/RUT's, that might be a very important Cyclical Bear Market cycle low.
So, GDX/HUI/XAU will probably bottom farther above yesterday 11-13-08's cycle lows than SPX/NDX/RUT will, but, the gold sector NEM Lead Indicator was an extremely bearish -2.13% versus the XAU today/on 11-14, and, was a super bearish -5.07% on 11-13, so, maybe there won't be much of a difference in this case.
The broad market Walmart (WMT) Lead Indicator was a slightly bullish +0.13% versus the S & P 500 (SPX) today/on 11-14, and, was an extremely bearish -2.53% versus the S & P 500 (SPX) yesterday/on 11-13 (+1.20% on 11-12, +1.42% on 11-11, +2.72% on 11-10, -1.21% on 11-7, +3.85% on 11-6, +1.71% on 11-5).
The five day intraday broad market Walmart (WMT) Lead Indicator closed at extremely bullish (2%+), see http://finance.yahoo.com/q/ta?s=%5EHUI&t=5d&l=off&z=l&q=l&p=&a=p12,fs,w14&c=wmt,%5EGSPC, which points to SPX/market weakness early on Monday, because, the fact that SPX (S & P 500)/the market didn't respond to such a bullish Walmart (WMT) Lead Indicator, allowing it to become extremely bullish, is a very short term bearish indication.
HUI's recent very bullish triple bottom is a great example of a very important upcycle (likely Wave 3 Cyclical Bull Market) beginning very flat, see http://stockcharts.com/charts/gallery.html?%24hui, and, reliable gold sector lead indicator NEM's short term Wave 2 cycle low yesterday at 22.58, see http://stockcharts.com/charts/gallery.html?nem, versus a recent likely Wave 2 Cyclical Bear Market cycle low at 21.40, is another good example of a very important upcycle (Wave 3 Cyclical Bull Market) beginning relatively flat.
Other important developments yesterday are the fact that the gold/silver stock sector (gold and silver probably didn't bottom yet) has very likely recently entered a Wave 3 Cyclical Bull Market.
HUI/XAU (http://stockcharts.com/charts/gallery.html?%24hui) entered a Secular Bull Market in November 2000/October 2000, versus gold doing so in April 2001 and silver doing so in late 2001, so, gold and silver will probably lag HUI/XAU again, and, will probably bottom in 3 to 6 months, silver maybe longer, assuming that HUI/XAU recently bottomed and entered a Wave 3 Cyclical Bull Market.
GDX/HUI/XAU put in a short term Wave 2 cycle low yesterday (GDX filled 18.69 as expected), see http://stockcharts.com/charts/gallery.html?%24hui, and, note that HUI's daily candlestick chart has a very large very bullish inverse spike on a bullish white (close above the open) candle yesterday 11-13-08.
I'm on the verge (the system waits for a 5% major buy signal, I DO NOT officially call bottoms or tops, I wait for major buy/sell signals, only proven systems can consistently time the market) of becoming very bullish on this sector, but, I might wait for a 5% major buy signal.
Another important development yesterday is that DUG (UltraShort Oil & Gas ETF) probably didn't bottom yet, see http://stockcharts.com/charts/gallery.html?dug, and, note that DUG has a very large very bearish spike on a bearish black (close below the open) candle yesterday 11-13-08. Yesterday's cycle high is probably/very likely a countertrend Wave B of Wave C cycle high.
The XOI (AMEX Oil & Gas) is doing a very anemic likely countertrend Wave B minor intermediate term upcycle since 10-10-08, and, put in a Wave 4 down cycle low of a very long short term (like an anemic monthly upcycle) Wave 3 upcycle yesterday 11-13-08, see http://stockcharts.com/charts/gallery.html?%24xoi.
So, DUG (UltraShort Oil & Gas ETF) should bottom when the XOI's very anemic countertrend Wave B minor intermediate term upcycle since 10-10-08 peaks. The XOI (AMEX Oil & Gas) is probably still in a Cyclical Bear Market, see http://stockcharts.com/charts/gallery.html?%24xoi.
DUG had an upside gap at 41.50 (filled 11-12). The XOI (AMEX Oil and Gas) had a downside gap at 900.39 (filled 11-11), and, has an upside gap at 952.76. XOM (Exxon Mobil) has downside gaps at 69.96 (filled 11-12) and 66.09, and, has an upside gap at 77.49.
The gold stock sector (GDX/HUI/XAU) is one sector that clearly APPEARS to have bottomed, see http://stockcharts.com/charts/gallery.html?%24hui. HUI has a nice very bullish triple bottom. Reliable lead indicator NEM recently put in a nice bullish double bottom at 21.40/21.47, see http://stockcharts.com/charts/gallery.html?nem. Waiting for a 5% major buy signal makes a lot of sense obviously.
The lead indicators jive with strength (began 11-13-08), for most sectors/indexes.
The 5 day intraday broad market Walmart (WMT) Lead Indicator is/closed at extremely bullish (which is a very short term bearish indication, +0.13% versus SPX today/on 11-14, -2.53% on 11-13, +1.20% on 11-12, +1.42% on 11-11, +2.72% on 11-10, -1.21% on 11-7, +3.85% on 11-6, +1.71% on 11-5, -3.79% on 11-4, +0.54% on 11-3, +0.40% on 10-31, -3.07% on 10-30, +0.84% on 10-29, +0.28% on 10-28, -0.19% on 10-27), see http://finance.yahoo.com/q/ta?s=%5EHUI&t=5d&l=off&z=l&q=l&p=&a=m26-12-9,p12,fs,w14&c=wmt,%5EGSPC.
The 5 day intraday gold sector NEM Lead Indicator is/closed at very bearish (-2.13% versus the XAU today/on 11-14, -5.07% on 11-13, +2.74% on 11-12, +1.72% on 11-11, +0.97% on 11-10, -1.54% on 11-7, +0.13% on 11-6, -0.62% on 11-5, -4.40% on 11-4, -0.25% on 11-3, -1.11% on 10-31, +2.34% on 10-30, -12.86% on 10-29, +9.90% on 10-28, -0.40% on 10-27), see http://finance.yahoo.com/q/ta?s=%5EXAU&t=5d&l=off&z=l&q=l&p=&a=&c=%5Ehui,nem.
The 5 day intraday oil and gas sector XOM (Exxon Mobil) Lead Indicator is/closed at extremely bullish (which is a very short term bearish indication, +0.65% versus the XOI today/on 11-14, -1.91% on 11-13, +2.39% on 11-12, +2.23% on 11-11, -0.53% on 11-10, +0.65% on 11-7, +0.44% on 11-6, -0.23% on 11-5, -2.49% on 11-4, +2.41% on 11-3, -3.01% on 10-31, -3.26% on 10-30, -3.62% on 10-29, -0.45% on 10-28, +1.46% on 10-27), see http://finance.yahoo.com/q/ta?t=5d&s=%5EXOI&l=off&z=l&q=c&a=m26-12-9&a=p12&a=fs&a=w14&c=xom.
The GDX/HUI/XAU Wave 2 Cyclical Bear Market since mid March is probably/appears to be over (don't be shocked if it isn't), see http://stockcharts.com/charts/gallery.html?%24xau. GDX/HUI/XAU still need to hit a 5% major buy signal however, before Trade the Cycles indicates that they've very likely bottomed. This still could end up being the mother of all headfakes. Also, gold very likely hasn't bottomed.
Gold (http://stockcharts.com/charts/gallery.html?gld) lags GDX/HUI/XAU, and, will probably bottom at $500ish, maybe $450 or even lower.
Reliable gold sector lead indicator Newmont Mining (NEM) shot up a spectacular +22.89% on 10-28-08, see http://stockcharts.com/charts/gallery.html?nem.
It LOOKS LIKE (it obviously makes a LOT of sense to wait for a 5% follow through major buy signal) NEM PROBABLY put in a Wave 2 Cyclical Bear Market (since 1-31-06) cycle low just before 10-27's close at 21.40, which is a bullish double bottom cycle low with the previous session's cycle low at 21.47.
The GDX/HUI/XAU Wave 3 Cyclical Bull Market (might not have started yet) is likely to be a great one. Wave 3 upcycles tend to be large, relative to Wave 1 upcycles.
SPX (S & P 500) and the XOI (AMEX Oil & Gas) are probably still in a Cyclical Bear Market (SPX's might have ended yesterday 11-13-08), see SPX at http://stockcharts.com/charts/gallery.html?%24spx, and, see the XOI at http://stockcharts.com/charts/gallery.html?%24xoi. Since cycle lows keep failing, one has to assume that's the case. SPX put in lower cycle lows in five consecutive sessions recently.
The NASDAQ 100 (NDX) is probably still in a Cyclical Bear Market (NDX's might have ended yesterday 11-13-08), see http://stockcharts.com/charts/gallery.html?%24ndx, as are RUT (Russell 2000, might have ended yesterday 11-13-08), see http://stockcharts.com/charts/gallery.html?%24rut.
A Cyclical Bear Market began on 10-11-07 for SPX (S & P 500), began in late October 2007 for NDX (NASDAQ 100), and, began in late July 2007 for RUT (Russell 2000).
Please keep in mind that, after an index puts in a potential major cycle low, it has to hit a 5% follow through (after breaking the major downcycle trendline) major buy signal before the Trade the Cycles system indicates that a major cycle low has very likely occurred.
My original Trade the Cycles system uses the reliable Elliott Wave patterns (see the Trade the Cycles charts at http://www.joefrocks.com/GoldStockCharts.html) and maps them to cycles of various timeframes (an Elliott Wave is either an upcycle or a downcycle), from very short term (hours/days), short term (days/weeks), monthly (4-7 weeks), minor intermediate term (2-3 months), major intermediate term (3-12 months), long term (1 to 2 years), Cyclical Bull/Bear Market (6 months to 7 years, yes, a bull/bear can be relatively brief), Secular Bull/Bear Market (8-20+ years).
Gaps are very important also, since most gaps get filled and they often provide insight into when cycle highs/lows will occur.
.......http://www.JoeFRocks.com/
NEM XAU HUI
Based on the nature of cycles, SPX and NDX/RUT/any other indexes that put in important cycle lows yesterday, should put in a cycle low early next week not far above yesterday 11-13's cycle low, such that the important upcycle's trendline begins relatively flat. This means that I'll be looking to day trade SPX/NDX/RUT ultra short via SDS/QID/TWM early on Monday.
Because DUG (UltraShort Oil & Gas, http://stockcharts.com/charts/gallery.html?dug) is in a Wave C of Wave C downcycle since yesterday 11-13-08's cycle high at 48.50, I won't be trading it again until it bottoms.
Once Wave 2 down of the SPX/NDX/RUT short term Wave 1 upcycle since yesterday 11-13-08 bottoms, I'll obviously be looking to trade ultra long via SSO/QLD/UWM and/or I'll look to trade the gold/silver stock sector long via GDX/AEM/EGO/SSRI or the oil & gas sector ultra long via DIG.
Looking at the gold/silver stock sector, GDX/HUI/XAU (http://stockcharts.com/charts/gallery.html?%24hui) ended the session in Wave A of Wave C of the very short term Wave 2 downcycle that began shortly after today 11-14-08's open, of the short term Wave 3 upcycle since yesterday 11-13-08, see http://finance.yahoo.com/q/ta?s=%5Ehui&t=5d&l=off&z=l&q=c&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c=.
The very short term GDX/HUI/XAU Wave 2 downcycle will probably do an inverse Elliott Wave 12345 pattern (down up down up down), that's also an Elliott Wave ABC down up down pattern. The inverse Elliott Wave 12345 pattern (down up down up down) tends to be a good check of whether an Elliott Wave ABC down up down pattern has bottomed.
GDX/HUI/XAU (http://stockcharts.com/charts/gallery.html?%24hui), based on the nature of cycles, should bottom not far above yesterday 11-13-08's cycle lows, though, yesterday's cycle low was a short term Wave 2 cycle low, which obviously isn't nearly as important as SPX/NDX/RUT's, that might be a very important Cyclical Bear Market cycle low.
So, GDX/HUI/XAU will probably bottom farther above yesterday 11-13-08's cycle lows than SPX/NDX/RUT will, but, the gold sector NEM Lead Indicator was an extremely bearish -2.13% versus the XAU today/on 11-14, and, was a super bearish -5.07% on 11-13, so, maybe there won't be much of a difference in this case.
The broad market Walmart (WMT) Lead Indicator was a slightly bullish +0.13% versus the S & P 500 (SPX) today/on 11-14, and, was an extremely bearish -2.53% versus the S & P 500 (SPX) yesterday/on 11-13 (+1.20% on 11-12, +1.42% on 11-11, +2.72% on 11-10, -1.21% on 11-7, +3.85% on 11-6, +1.71% on 11-5).
The five day intraday broad market Walmart (WMT) Lead Indicator closed at extremely bullish (2%+), see http://finance.yahoo.com/q/ta?s=%5EHUI&t=5d&l=off&z=l&q=l&p=&a=p12,fs,w14&c=wmt,%5EGSPC, which points to SPX/market weakness early on Monday, because, the fact that SPX (S & P 500)/the market didn't respond to such a bullish Walmart (WMT) Lead Indicator, allowing it to become extremely bullish, is a very short term bearish indication.
HUI's recent very bullish triple bottom is a great example of a very important upcycle (likely Wave 3 Cyclical Bull Market) beginning very flat, see http://stockcharts.com/charts/gallery.html?%24hui, and, reliable gold sector lead indicator NEM's short term Wave 2 cycle low yesterday at 22.58, see http://stockcharts.com/charts/gallery.html?nem, versus a recent likely Wave 2 Cyclical Bear Market cycle low at 21.40, is another good example of a very important upcycle (Wave 3 Cyclical Bull Market) beginning relatively flat.
Other important developments yesterday are the fact that the gold/silver stock sector (gold and silver probably didn't bottom yet) has very likely recently entered a Wave 3 Cyclical Bull Market.
HUI/XAU (http://stockcharts.com/charts/gallery.html?%24hui) entered a Secular Bull Market in November 2000/October 2000, versus gold doing so in April 2001 and silver doing so in late 2001, so, gold and silver will probably lag HUI/XAU again, and, will probably bottom in 3 to 6 months, silver maybe longer, assuming that HUI/XAU recently bottomed and entered a Wave 3 Cyclical Bull Market.
GDX/HUI/XAU put in a short term Wave 2 cycle low yesterday (GDX filled 18.69 as expected), see http://stockcharts.com/charts/gallery.html?%24hui, and, note that HUI's daily candlestick chart has a very large very bullish inverse spike on a bullish white (close above the open) candle yesterday 11-13-08.
I'm on the verge (the system waits for a 5% major buy signal, I DO NOT officially call bottoms or tops, I wait for major buy/sell signals, only proven systems can consistently time the market) of becoming very bullish on this sector, but, I might wait for a 5% major buy signal.
Another important development yesterday is that DUG (UltraShort Oil & Gas ETF) probably didn't bottom yet, see http://stockcharts.com/charts/gallery.html?dug, and, note that DUG has a very large very bearish spike on a bearish black (close below the open) candle yesterday 11-13-08. Yesterday's cycle high is probably/very likely a countertrend Wave B of Wave C cycle high.
The XOI (AMEX Oil & Gas) is doing a very anemic likely countertrend Wave B minor intermediate term upcycle since 10-10-08, and, put in a Wave 4 down cycle low of a very long short term (like an anemic monthly upcycle) Wave 3 upcycle yesterday 11-13-08, see http://stockcharts.com/charts/gallery.html?%24xoi.
So, DUG (UltraShort Oil & Gas ETF) should bottom when the XOI's very anemic countertrend Wave B minor intermediate term upcycle since 10-10-08 peaks. The XOI (AMEX Oil & Gas) is probably still in a Cyclical Bear Market, see http://stockcharts.com/charts/gallery.html?%24xoi.
DUG had an upside gap at 41.50 (filled 11-12). The XOI (AMEX Oil and Gas) had a downside gap at 900.39 (filled 11-11), and, has an upside gap at 952.76. XOM (Exxon Mobil) has downside gaps at 69.96 (filled 11-12) and 66.09, and, has an upside gap at 77.49.
The gold stock sector (GDX/HUI/XAU) is one sector that clearly APPEARS to have bottomed, see http://stockcharts.com/charts/gallery.html?%24hui. HUI has a nice very bullish triple bottom. Reliable lead indicator NEM recently put in a nice bullish double bottom at 21.40/21.47, see http://stockcharts.com/charts/gallery.html?nem. Waiting for a 5% major buy signal makes a lot of sense obviously.
The lead indicators jive with strength (began 11-13-08), for most sectors/indexes.
The 5 day intraday broad market Walmart (WMT) Lead Indicator is/closed at extremely bullish (which is a very short term bearish indication, +0.13% versus SPX today/on 11-14, -2.53% on 11-13, +1.20% on 11-12, +1.42% on 11-11, +2.72% on 11-10, -1.21% on 11-7, +3.85% on 11-6, +1.71% on 11-5, -3.79% on 11-4, +0.54% on 11-3, +0.40% on 10-31, -3.07% on 10-30, +0.84% on 10-29, +0.28% on 10-28, -0.19% on 10-27), see http://finance.yahoo.com/q/ta?s=%5EHUI&t=5d&l=off&z=l&q=l&p=&a=m26-12-9,p12,fs,w14&c=wmt,%5EGSPC.
The 5 day intraday gold sector NEM Lead Indicator is/closed at very bearish (-2.13% versus the XAU today/on 11-14, -5.07% on 11-13, +2.74% on 11-12, +1.72% on 11-11, +0.97% on 11-10, -1.54% on 11-7, +0.13% on 11-6, -0.62% on 11-5, -4.40% on 11-4, -0.25% on 11-3, -1.11% on 10-31, +2.34% on 10-30, -12.86% on 10-29, +9.90% on 10-28, -0.40% on 10-27), see http://finance.yahoo.com/q/ta?s=%5EXAU&t=5d&l=off&z=l&q=l&p=&a=&c=%5Ehui,nem.
The 5 day intraday oil and gas sector XOM (Exxon Mobil) Lead Indicator is/closed at extremely bullish (which is a very short term bearish indication, +0.65% versus the XOI today/on 11-14, -1.91% on 11-13, +2.39% on 11-12, +2.23% on 11-11, -0.53% on 11-10, +0.65% on 11-7, +0.44% on 11-6, -0.23% on 11-5, -2.49% on 11-4, +2.41% on 11-3, -3.01% on 10-31, -3.26% on 10-30, -3.62% on 10-29, -0.45% on 10-28, +1.46% on 10-27), see http://finance.yahoo.com/q/ta?t=5d&s=%5EXOI&l=off&z=l&q=c&a=m26-12-9&a=p12&a=fs&a=w14&c=xom.
The GDX/HUI/XAU Wave 2 Cyclical Bear Market since mid March is probably/appears to be over (don't be shocked if it isn't), see http://stockcharts.com/charts/gallery.html?%24xau. GDX/HUI/XAU still need to hit a 5% major buy signal however, before Trade the Cycles indicates that they've very likely bottomed. This still could end up being the mother of all headfakes. Also, gold very likely hasn't bottomed.
Gold (http://stockcharts.com/charts/gallery.html?gld) lags GDX/HUI/XAU, and, will probably bottom at $500ish, maybe $450 or even lower.
Reliable gold sector lead indicator Newmont Mining (NEM) shot up a spectacular +22.89% on 10-28-08, see http://stockcharts.com/charts/gallery.html?nem.
It LOOKS LIKE (it obviously makes a LOT of sense to wait for a 5% follow through major buy signal) NEM PROBABLY put in a Wave 2 Cyclical Bear Market (since 1-31-06) cycle low just before 10-27's close at 21.40, which is a bullish double bottom cycle low with the previous session's cycle low at 21.47.
The GDX/HUI/XAU Wave 3 Cyclical Bull Market (might not have started yet) is likely to be a great one. Wave 3 upcycles tend to be large, relative to Wave 1 upcycles.
SPX (S & P 500) and the XOI (AMEX Oil & Gas) are probably still in a Cyclical Bear Market (SPX's might have ended yesterday 11-13-08), see SPX at http://stockcharts.com/charts/gallery.html?%24spx, and, see the XOI at http://stockcharts.com/charts/gallery.html?%24xoi. Since cycle lows keep failing, one has to assume that's the case. SPX put in lower cycle lows in five consecutive sessions recently.
The NASDAQ 100 (NDX) is probably still in a Cyclical Bear Market (NDX's might have ended yesterday 11-13-08), see http://stockcharts.com/charts/gallery.html?%24ndx, as are RUT (Russell 2000, might have ended yesterday 11-13-08), see http://stockcharts.com/charts/gallery.html?%24rut.
A Cyclical Bear Market began on 10-11-07 for SPX (S & P 500), began in late October 2007 for NDX (NASDAQ 100), and, began in late July 2007 for RUT (Russell 2000).
Please keep in mind that, after an index puts in a potential major cycle low, it has to hit a 5% follow through (after breaking the major downcycle trendline) major buy signal before the Trade the Cycles system indicates that a major cycle low has very likely occurred.
My original Trade the Cycles system uses the reliable Elliott Wave patterns (see the Trade the Cycles charts at http://www.joefrocks.com/GoldStockCharts.html) and maps them to cycles of various timeframes (an Elliott Wave is either an upcycle or a downcycle), from very short term (hours/days), short term (days/weeks), monthly (4-7 weeks), minor intermediate term (2-3 months), major intermediate term (3-12 months), long term (1 to 2 years), Cyclical Bull/Bear Market (6 months to 7 years, yes, a bull/bear can be relatively brief), Secular Bull/Bear Market (8-20+ years).
Gaps are very important also, since most gaps get filled and they often provide insight into when cycle highs/lows will occur.
.......http://www.JoeFRocks.com/
NEM XAU HUI
Labels: DUG, GDX, Gold, Gold Stocks, HUI, NEM, RUT, Silver, Silver Stocks, SPX, XAU, XOI, XOM
posted by Joe Ferrazzano at
1:55 PM
2 Comments:
The FDIC insurance coverage increase to $250,000 from $100,000 ISN'T permanent. I and probably nearly everyone (I imagine) thought it was permanent. Wrong!
** The legislation authorizing the increase in deposit insurance coverage limits makes the change effective October 3, 2008, through December 31, 2009.
By
Joe Ferrazzano, at 9:37 PM
I'm looking at probably trading the UltraShort FTSE/Xinhua China 25 Proshare (FXP) ETF on Monday, up +15.36% today 11-14-08, instead of trading the major averages ultra short, because, the FTSE/Xinhua China 25 index doesn't appear to have bottomed yet, while the major averages (some at least) might have entered a Cyclical Bull Market yesterday 11-13-08.
By
Joe Ferrazzano, at 11:38 PM
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