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Thrilling Thursday – 50-Day Moving Averages Are Tested

Posted on the 13 February 2014 by Phil's Stock World @philstockworld

As promised yesterday, we took advantage of the Yellen rally to add more short positions to our Short-Term Portfolio and I sent out an Alert to all of our Members at 10:45, which gave us just enough time to take advantage of what Dave Fry called "sloppy and indecisive trading" on the S&P.  

As usual, I can only tell you what is likely to happen in the Future and how to make money trading on those "pre-facts", what you ultimately do with this information is entirely up to you.  

We have been bothered by the light volume all the way up as it's an indicator of a fake, Fake, FAKE market rally that can be quickly undone once real sellers show up again.  That worked just great for us because, in the morning post, I said we were shorting the Dow Futures (/YM) at 15,950 and Oil Futures (/CL) at $100.66.  

There was a bit of volatility in between but oil is at $99.66 this morning for a $1,000 per contract gain and the Dow is at 1,850 for a $500 per contract gain.  We also liked a gold short (/YG) at $1,290 and we did dip to $1,286 but now back to $1,293 on a much weaker Dollar (80.35) and I also told you not to short gold unless the Dollar is over 80.85.  

As I said, I can only tell you what's going to happen and how to play it – the rest is up to you.  


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