Here’s everything you need to know to start off this new week.
Behind the weather that led to the deadly Yarnell Hill Fire – It rained in SE New Mexico last night. Glory be. Truly seemed like the first time in years. Mother Nature and Mother Market work in mysterious ways. Meanwhile, my prayers go out to all those affected by these tragic firefighter deaths.
Lots of Data in Holiday-Shortened Week – The markets will be light on volume and heavy on manipulation during this holiday-shortened week. Both stocks and metals will likely be choppy in their action.
Stocks rally to start July – I’m going to sell another 1/5 of my DIA call options, locking in more than 100% in profits on this tranche. That leaves me a little less than 1/5 of the original number of calls I bought when we initiated this trade at the exact recent near-term bottom. Check out the five day chart where we nailed this one.
How Gold Miners Became A Terrible Investment – Time to buy when the headlines read like this, no? I’m still holding all of my other recent trades, including the GDX call options from last week which we loaded up on at the bottom on Wednesday and Thursday and are up huge for us now.
Indicator Update: What do Higher Interest Rates Mean for Stocks – A must-read article from the hottest market-timer and sector-picker on the planet so far this year. Money quote, among others, “The thing to note is that I highlighted each topic the week before it grabbed the attention. I find it useful to reflect on the key theme for the week ahead, and I hope you will as well.”