Shorting Semi-Conductors - SMH

Semi-Conductors will tank next.  The near term target would be 23.38 with the longer term target near 22.  This is the 50% Fib level, and is smack dab in the middle of the gap left back in July.

I am using the ultra short ETF SSG to short semiconductors.   You can see the correlations between the two charts.  I bought 500 shares at $20.51.   My near term target is $26.65, and the intermediate target is $33.

Baling on Commodities

I should be jumping for joy after a day which saw my portfolio jump in value nearly 4.5%.  You might not believe me if I told you that 4 of my 9 positions were down nearly 5%.  What saved my bacon was having positions shorting China and Financials that were up nearly 10%.  I am still holding my bond short and my biotech short which were down hard, but I am watching them closely.  I am dumping my commodity longs however.

DBC - The price action Tuesday was my signal to buy DYY.  Price action today tells me it is over already.

DYY - I am just trading what I am seeing

USO

DIG

XBI - Biotech Looks Strong

Biotech and health care stocks have been the strongest sectors the past year.  Of the 5 major etf's that trade in this space, one in particular stands out.

Several of the ETF's just broke out into new highs with heavy volume behind them.  These are set ups that traders make their bread and butter on.  XBI has out performed the other etf's in this sector now the last three months, and has broken into new highs.  Today, I purchased 175 shares at $57.39.

FAZtastic! Shorting Financials

Financial stocks appear to be breaking down to me.  The XLF is showing 6 touches on the bottom side of its consolidation, while only three touches along the top side.

FAZ is a triple inverse ETF for the financial sector.  It is retesting a support area which should make for a good entry point.  Any strong break with volume below this support area, or a strong break above resistance of the trendline on the XLF chart above would constitute areas to bale from this trade.  I bought 550 shares of FAZ at $18.54.