What I'm Trading: Consider Short Penn National Gaming, Pulte Group
03/06/2018 1:47 pm EST
As I’ve been preaching, if you haven't already done so, now’s the time to consider a short or two in equities, says Dave Landry, founder and president of DaveLandry.com.
In forex, I continue to trade hourly Bowties off of major highs/lows.
I remain short the euro/US dollar (EUR/USD) based on this.
It was fun catching the bubble in bitcoin (and ethereum, litcoin, and Ripple), but now I’m in “can’t stand it” mode. When I see the mother-of-all opportunities (i.e. the potential trade is so great, I just can’t keep sitting on my hands) maybe the daughter-of-all opportunities, I’ll step back in.
I’m in wait mode for the pattern recognition and indicators. I’m still playing with them, but officially, they're in the hands of the beta testers. Check out this recent Week in Charts for a sneak peek. It’s pretty cool if I say so myself.
Again, I really think we need to get ahead of this potential bear market. And, again, hopefully, a word we should never use in this business, this will turn into just another correction in this long-term bull market. I do think we should brace just in case.
May the trend be with you!