One of the biggest quality a trader can have is the capacity
to adapt. And so, every morning it is important to align your weekly plan with
the new information you have and make necessary changes.
Like I wrote yesterday in my newsletter, gold and
particularly miners represented by GDX and GDXJ are down big time pre-market. I
don’t want to be involved this week with gold or gold miners except if there
are some unexpected and exceptional changes.
UGAZ is not surprisingly up, like I wrote in my newsletter
it could continue to climb. However, what’s the possible gains in the short
term? Limited, in my opinion.
DWTI is particularly interesting, because we might see oil
plummet back to $45. However, I won’t buy DWTI because the bid-ask spread is an
enormous 5%.
I’m watching UWTI
closely for an entry point, and I’ll be buying at $2.85 and lower.