We will have a very tough week ahead, where Friday's job data is a central cocern. Highlights of today:
* Band of Canada may cut rates. The dollar may have less pressure.
* DOW 12150 held yesterday, but this is still critical for today's direction. Most long positions should be reduced and cleared accordingly.
* For minor long positions, still, gold is an option, base metal, agriculture are secondary options. My favorite gold stocks like AUY and ABX hit all time high yesterday. But please be careful, I expect 1050-1100 will be next target for big correction.
* For short positions, if you followed my suggestion to use bond insurers like fre fnm as a hedging position against longs, you should be profitable now. Still, bond insurers are first choice for shorts and puts.
To me, the best strategy here is having more cash and send money back to China to play around A shares. Yesterday, I just took my February profit around 25% (you should not be surprised by looking at my picks) and will send the money back to China, especially in this moment EUR hits all time high agaist USD.
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1 comment:
so would you might share your china A stocks' pick?? :) thanks for your sharing :) good luck :)
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