- Tonight's Black Box Jr. scans reveals a buy signal on IEO, the iShares US Oil & Gas ETF. I will buy (paper trade) this tomorrow for the Black Box Jr. portfolio. It'll be interesting to see if this trade is a whipsaw, a bear bounce, or the sign of higher oil prices coming.
- A fresh sell signal on the Emerging Markets ETF, EEM. I won't short in the Black Box Jr. portfolio - no shorting there. The last buy signal for EEM resulted in about an 8% loss.
- Near a sell signal... XLF. The financial ETF isn't quite there, but looking ugly.
- The Long-Short portfolio remains long QQQQ. It is in overbought territory, but no sell signal at this time. Again, since it was on a buy when I started this, I haven't made a paper trade. When a sell signal comes, I would anticipate a buy signal for the inverse NDX, the PSQ ETF.
- That's it for that. Never a recommendation. Just paper trading. In the real world with real dollars, I remain 100% long equities.
- The US woman's volleyball team is amazing. Watched a bunch tonight. I'm watching the Olympics via DVR. That way, I can watch about 4 hours of televised content in about 23 minutes. Once one fast-forwards through commercials, interviews, and other fluff, the events don't take up much time.
- Barack Obama's tax plan via Greg Mankiw. FWIW.
- From Barry Ritholtz, Alan Greenspan calls a housing bottom.
- I find myself using Twitter this time more than last time. Nice mobile tool set makes it easy to Tweet on the go.
Wednesday, August 13, 2008
Late Night Signals
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