Airbnb made a beautiful head and shoulder failure pattern. I am short with a stop at 113.7 and a target of 70.
Short Natural Gas
I am short with a stop at 7.9 and a target of 5.8.
30-Year Has Made The Bottom
Something tells me we have seen the 30-year yield bottom. I do not think I will see it that low for the rest of my life.
Bitcoin
Bitcoin is forming a H&S continuation pattern. I will be looking to go short with a close below 17.8K.
Bailed on Gold
I closed out the short position in gold for a small loss. The fact that it is hanging around after breaking down indicates a bear trap.
CHTR Update
My stops have been moved to a break even point on this trade.
Positions Going Into Weekend
STOCKS | ||||||
Symbol | Position | Date Position Opened |
Price Position Opened |
Week Closing Price |
Percent Change |
|
CHTR | Short | 9/6/2022 | 396.55 | 377 | 4.9% | |
Total Open Profit/Loss Stocks | 4.9% | |||||
FUTURES | ||||||
Symbol | Position | Date Position Opened |
Price Position Opened |
Week Closing Price |
Percent Change |
|
GC | Short | 9/16/22 | 1670 | 1684 | -0.8% | |
ZC | Long | 8/23/22 | 654.75 | 679.25 | 3.7% | |
ZN | Short | 8/24/22 | 117.421875 | 114.8 | 2.2% | |
Total Open Profit/Loss Futures | 5.1% |
Housing Market
The housing market seems to be letting up.
I do not think we will see a 08-09 housing type crash where prices year over year went down 30 plus percent. But over the next year there will be better deals for buyers then today.
Possible Trades
Not much to report.
Natural Gas appears to be making a H&S top.
Lean hogs is making a rectangle. I will take the trade in either direction.
Gold-Going Short
The weekly chart shows gold breaking down from its rectangle. I am short with a stop at 1705 and a target of 1380. This is a small short position. I have the feeling this will be a bear trap and we are at a bottom in gold.