Tuesday, April 24, 2012

Energy and GDX/GDXJ

No charts for the gold miners, my position is still open, they are showing end of day positive leading divergences that look great.

For Energy
 1 min largely in line, financials look worse, this could certainly be the Euro repatriation effect as energy has a strong correlation to the $USD (Euro is just a proxy).

 One of the best head fakes in the last week in yellow, this is the morning I sold my USO calls right at the top. 2 min is in line, financials look worse as far as relative performance/rotation moving forward.

 That beautiful head fake move, note it made a higher high and failed spectacularly, this is why I love the head fake trades.
 5 min showing some weakness -not in line currently

15 min Energy, again, beautiful head fake move, good money to be made on those. 15 min is in line, not nearly as strong as tech.

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