Position Update 103007

I sold the ETF Ultra longs, QLD, SSO, and UWM into the Monday morning gap.  Friday had more than enough great trades to take.  From experience, when that occurs, the next day is usually dead for me. Monday was dead.  I don’t want to force trades on those days.

After a fifth consecutive day with a higher high, CCJ is nearing a new monthly closing high. Some profits should be taken at this point.

WYNN has been a rocketship.  Cautious here with only day trades now.

CWTR still needs to move over it’s 20dma.

NILE failed to hold trendline support.

MT has broken out.

XAU hits another new high.  Price action is very important in the short-term now.  Gold stocks must hold this breakout area.

VLO double top.

Wednesday will be full of volatility with the Fed heads doling out tricks and treats.