Commitments Data Puts Gold, BKX in Cash
Two signals take effect on Monday's open of trading in my trading strategy based on the weekly Commitments of Traders reports:
- My bullish gold signal goes to cash.
- My bearish signal for the BKX U.S. Bank Index goes to cash too.
The gold signal did pretty well - up 25.2% in five weeks using a 300% leveraged ETF as of Friday's close. But I gave some of that back with that wrong-way BKX trade, which lost 9.8% in a holiday-shortened week of trading, also using a 300% leveraged fund.
(I'm using the leveraged funds not because I'm especially risk-loving, but just because I had funds tied up in other trades and wanted to get as close as I could to my maximum portfolio allocation for those two setups.)
Other signals remain the same this coming week. See my latest signals table for details on trader positioning in all the markets I'm trading using the nifty free COT data from the U.S. Commodity Futures Trading Commission, which details trillions of dollars in futures and options bets in 150-plus markets.
Have a good weekend, and good luck next week.
- My bearish signal for the BKX U.S. Bank Index goes to cash too.
The gold signal did pretty well - up 25.2% in five weeks using a 300% leveraged ETF as of Friday's close. But I gave some of that back with that wrong-way BKX trade, which lost 9.8% in a holiday-shortened week of trading, also using a 300% leveraged fund.
(I'm using the leveraged funds not because I'm especially risk-loving, but just because I had funds tied up in other trades and wanted to get as close as I could to my maximum portfolio allocation for those two setups.)
Other signals remain the same this coming week. See my latest signals table for details on trader positioning in all the markets I'm trading using the nifty free COT data from the U.S. Commodity Futures Trading Commission, which details trillions of dollars in futures and options bets in 150-plus markets.
Have a good weekend, and good luck next week.