Wednesday, August 13, 2008

Late Night Signals

  • 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.

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