Not sure if any of you take David Rosenbergs "Breakfast with Dave". Very worthwhile daily reading. Here is something from yesterdays letter that should really put things into perspective about at least the near-term to intermediate future.
THE FRUGAL FUTURE IS A PRESENT DAY REALITY
Great...
Layering in to -V/+X here (.635). I have watched ICE action once again, showing someone accumulating a large short position on the stealth, similiar to Friday, just less volume and agression. Also the UNG volume on the day thusfar is quite muted up here. I now lean to the downside and like...
You may be right, but the action I saw on ICE Friday made me close out of my bull spreads. It looked to me like fund accumulation of shorts, whacking the bid in waves. Enough to drive the price down even with the huge UNG volumes getting pumped. This makes me rethink as when I usually see this...
Move this crap somewhere else plz. So many other sections are already filled with garbage like this, I prefer to keep energy free of this shit. It is politics this thread should be in.
I closed out at 1.771 for a .033 profit.
I am rethinking my bullish early month/bearish last part now with this action today, it just doesn't look good for the bulls. I am flattening out and will re-assess next week.
Now that June is off the board, I feel that once again fundamentals can be cast off for a week or two here. The level of bullishness of the dumb money in UNG is astounding and can be used as a great tool. The volume on that sucker has been huge for several weeks now, thanks to guys like Cramer...
The phone rang......rrrrrrrrrring.
The conversation-
"hello. Yes, this is he/she. Am I feeling confident? What do you mean by that? Just answer yes or no?!? Well without knowing what the question really is, I will say I think..........hmmmm........yes? Ok Good-bye."
After getting an ETF list off google, I was wondering if anyone here has a list of the top traded ETF for each sector as there are many redundancies in the list of 730 ETF's.
Top Financial ETF, top gold etf, etc etc.
TIA