WilyTrader ETF Watch
OK, so I have finally taken a few minutes to compile and make pretty the list of Sector/Internation/Market ETFs that I monitor when performing my Top-Down analysis.
In addition to being broken into the three categories, I decided to go ahead and color-code it as well to provide a quick and easy overview of what it is that I am seeing in the markets. The color-coding schedule will have to be a work in progress since this is my first day using it and all, but here’s what I’ve got so far:
Cell Background Color : Is used for assessing my sentiment of the security. (Red = Bearish, Green = Bullish, Yellow = Uncertain/Caution)
Text Color : This is used to denote those securities which I currently hold. (White = I currently own security in at least one account)
I am sure that more customizations will be added to this later, but it’s a start.
As you can see, I am currently trading USD, GLD, & IYR. I’ve been in Gold in one shape or another over the past few years and it has been far and away one of the most profitable trade I’ve ever taken. Now though, I am in the process of reducing my exposure to it somewhat and locking in my profits. Its not that I’m convinced a reversal is imminent, but I do believe that GLD will top out between $95-$100.
I entered USD on Friday and promptly got my teeth kicked in. This will probably stopped out (currently set @ $49.50) but we’ll see. If this does continue to run down I’ll keep a really close eye on it for another potential, and even better, long setup.
IYR has been a good trade so far. I expect it to continue to snap back to towards its SMAs in the ST but a lot just depends on what the markets do today as Friday’s session was very much one of directional uncertainty.
And for those of you who are waiting for an update on the FOREX markets, those will be coming soon…I’ve been away for way too long and am getting caught back up as quick as I can.
with a Reader
