I posted a few days ago that DIA is approaching resistance at 9000 and this rise has been on light volume. Some people have said that is because of summer where trading decreases. However, there is a lot of money sitting on the sidelines. If it was a true beginning of a bull then it would appear in the volume.
Therefore, I have been skeptical of this rise and I am very skeptical of this market after three days of increasing selling. I expect a sell off.
This begs the question what about our stock positions in TGB, NGD, GMO, and UXG. We need to be aware of the overall U.S. Market, however there still is strength in emerging markets so I am not prepared to sell my positions in these companies. Stay tuned and I will notify if we have to take our trailing stops.
