ETF Walkabout

As the post-“crash” recovery lurches to another high, the mainstream media and bulls are splooging left and right:

1015-SPLOO

I am surprisingly nonplussed about the entire affair. I remain extraordinarily short, and although I covered some nice money-makers early this morning (WDC, MTW, STX) and had a couple of profitable intraday ETF trades (DIA, EEM, both on the short side, incredibly), I have simply held on to the vast majority of my individual shorts.

I wanted to share six ETFs tonight and my disposition toward each: short and sweet. First up is the triple-bearish-on-miners symbol DUST, on which I am bullish, as we appear to be heading toward a quadruple bottom:

1015-DUST

On emerging markets, I am bearish, as we approach the underside of a pattern failed pattern:

1015-EEM

On the Euro (and the Yen, for that matter), I am bullish, with an eye toward a full-velocity escape of the triangle pattern:

1015-FXE

On junior miners, I am bearish:

1015-GDXJ

I am bearish on the Dow Industrials “diamonds”:

1015-DIA

On the ultra-S&P 500, I am also bearish (no surprise, eh?):

1015-UPRO

We are getting very close to the “2020” level on the ES that I’ve been watching. I obviously hope that once OPEX is done, we can resume some equity weakness immediately next week. I’ll see you folks here Friday morning.

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Author: Travis Esquivel

Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

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