Thursday, November 15, 2012
T 2 Update...11.15.12
A number of market gurus have been pumping GLD and GDX at these levels, forecasting gold at $5000/ounce within 2 years...a claim we've heard before...but who knows?...maybe they're right this time.
The T2 model is positioned as well as possible under the current market clouds. The only (low risk) way we could improve our returns is with Short status using SH (SPY inverse) or QID ( QQQ inverse).
Yesterday's negative status of TLT was a surprise and the VIX continues to be a head scratcher as both the SPY and the VIX are currently red as of 90 minutes in today.
Biggest loser today is Walmart...down 4%...as the prognosticators wonder about the viable of holiday buying coupled with sub par quarterly sales reports as consumer buying lags globally. May be a buy if it gets back to $60.
Apple continues to show weakness and the $525 line is still a target (currently 529.)..taking us back to the May lows.
Friday...typically a distribution day..should provide some insight into next week's although keep in mind tomorrow is also option expiration and the usual intra day volatility gyrations will likely ensue.