We've got a clear short on our ETF cluster for $BJK (recently added to our ETF list) which appears quite over-extended. 11% of the ETF is $LVS, and that appears to be where much of the positivity is being contributed.
I like to trade balanced long-short. While very tentative, we're compelled to buy some of the weakest name on our chart - $GDX (despite it being still sentiment positive). A substitute for GDX would also be $IEZ (oil equipment ETF). These two have sold off, and may continue to do so. If $GLD falls under Friday's lows, it's time to take some off the
RISK MANAGEMENT
In case you were wondering, we hold most of our postitions from 2 to 8 days, based on our backtested trading rules. We set exit plans in advance. Our exit plans rely on sentiment and news stops. If the sentiment or news shifts away from the speculative aspect that we are trading (either long or short), then we exit before the "expiration date" of the position.
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