For the most part, we did quite well on DGAZ today as it was easier to judge, but the whipsaw got us in the markets. 150, 100, 80 point swings both ways is never an easy day, and it was even worse than that but tighter ranges as the day progressed. Normally I have a conviction of one direction, but today you could have simply sold the tops and bought the dips and took scalps all day long. I got a little conservative as the day went on and DGAZ helped bail us out, but end of day TVIX got us as there wasn’t an end of day sell off despite the market being down overall except for the Dow. DUST didn’t go anywhere and we got out about flat. Oil was the big story today and we are now positive with UWT but GUSH still has work to do. It should fly I would think tomorrow with UWT over 15. It was simply kept down today. Manipulated, as it normally flows with UWT.
Economic Data For Tomorrow
Retial sales the big one tomorrow but some other data after the market opens.
http://www.investing.com/economic-calendar/
I wrote yesterday that we were buy the dip mode but LABU didn’t rebound at all today. It should tomorrow so keep an eye on it. TQQQ started off well for us but the whipsaw got in the way of any decent profit today. Nothing like yesterday, but didn’t give a ton back. Tomorrow should be more smooth.
Foreign Markets
Ignored these today. BRZU did end up higher but not even 1%.
Interest Rates
Yesterday I said “expect more” from TMV and TMF turned to a sell today with TMV now ready for a move up.
We stuck with DGAZ today and will for the time being. Look to take half off pre-market if it is up early.
56 still the goal in oil and should kick UWT into gear some more. Not straight up but definitely buy the dip.
Precious Metals and Mining
Took a chance on DUST today and it just couldn’t get going. We got out and it fell. Still neutral here but leaning DUST with all the dollar strength still continuing.
Yesterday I did say the following and it turned out correct: As much as I like a strong market tomorrow, we have to be leery of SOXL. Also UGAZ might be a good bounce if DGAZ opens higher.
