System-Based Trading Recommendations for Model Hedge Fund

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Monday, April 5, 2010

Positions Updated

My Positions are updated. I let Euro go as I was not comfortable with the risk on the trade and felt there were better positions out there. I will be watching Euro trade keenly for a point to get back in, if that point comes.

For now, I am long the Brazial Ishares ETF (EWZ) and I am long Gold through the ETF (GLD).

For all those Elliott waves out there there is current a potentially bearish wave count on GLD that has not been dismissed. See the Chart. I like to have a bearish and bullish scenario with each trade as I find it mentally prepares me, but in the end of the day the indicators lead the way and they make the call.

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