The Fred Report - Weekly October 31 2016
The one thing that really jumped out on our last trip is that this is a nervous market. We would use dips to add to models. we are using benchmarks on SPY of the recent low in the 211 area as our stop on this market, and realistically that could be lowered to 210 for conservative players. We continue to recommend alternatives such as BKLN, VRP and CWB that can hold up or even rally in a rising rate environment. We would not be short the GLD markets. We would buy down days, and look for continued bottoming action in this area.
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