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Banks, Bullion Back to Bullish
Posted on May 16, 2008
A couple of interesting new signals from my trading setups based on this afternoon's update on trader positioning from the U.S. Commodity Futures Trading Commission. After being profitably short the banks since May 5, my setup for the BKX Bank Index has now flipped back to bullish. This setup is based on trading on the same side as the large speculators in the three-month Eurodollars. (That's the interest rates, not the currency; it's basically a play based on global liquidity.) The setup is one of my favourites to trade and works with a one-week trade delay, which means I'm dumping my short p...
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