• Portfolio Management for June 19, 2017

    I opened three new positions on Friday, because I was convinced that we should have a tentative bounce. This bounce could push the weakest sectors higher on a shorts covering move.

    I opened a half SWN long and a half GDX long. Both are volatile and hence the small position size.
    I also opened a full XME position, which is much less volatile.





    These are all commodities linked and all show some accumulation.

    SWN is sitting on its US$6 support level and Nat Gas stocks show strong accumulation. Summer is coming fast, which should be positive for Nat Gas consumption through air coolers.





    GDX also shows accumulation here, although gold itself is still negative. The stop is not far away.





    XME is also sitting on a strong support level, but there is a price gap just below. If that support level breaks, I'll close the position.









    The trade ideas for today are below. My objective will be to manage the positions taken on Friday.