I am long BGU, QLD,  UYG, SSO and think the market has temporarily bottomed test the lows of November 21. Dow, NASDAQ and S&P 50 are moving higher with strong volume. If we can lose inside the range of Friday than we are looking good. We also see gold pulling back which is a normal correction since the GLD has gone almost straight up from $78 to $98. GLD should pull back to between $80 -85 where I would buy again.

Still holding onto AKAM which could not break down below $17, thats a good sign.

All gains above 10% today except for GLD…not bad. Like I said in my last posting the market will head up this week as investors come back in for bottom picking in the oversold market.

A reader asked about DRYS and JASO which I think look like good buys. Of the two I like DRYS better on a technical basis for a trade. For a solar play I like ESLR better on a technical basis. ESLR is a buy here around 3.40 and wants to head up to $5 then $6.50.

DRYS has good support $20-22 and should bounce up to $40 then to $60 longer term.

I suspect that this week will be an up week. We have hit temporary lows with massive short covering and margin calls galore. We are extremely oversold here and time for a bounce up.

Look at the SPY below which is a 1 year weekly chart. Last week we went to test the low but did no break it on lighter volume. We closed above the open of the week which is bullish. I think were going to up to $105 on the SPY. I am long the SSO currently

Below is a 1 year weekly chart of the GLD (gold ETF that is 10% of the spot price of gold). Last week went went lower to test 9/15 lows, went down on lighter volume (which mean less sellers) and closed above the open. This is bullish which is why I am bullish on gold and buying more of the DGP (Ultralong gold ETF)

I am also long on UWM, DDM, SSO, MOS, DGP, QLD, UYG, UYM and now DIG (I think oil is heading up again).

I closed my shorts except the GS with my stop at 115 and entered into SSO this afternoon when I placed a limit order that paid off well. The SPY (ETF for S&P 500) went lower today into the bar of Oct 10 the big sell off day and closed above that and yesterdays close on higher volume. This is very bullish for the short term. I still think the trend is down but I’m playing the big bounces and falls.

I entered limit order for UWM, QLD, UYG, RRI (trying this again) and UYM.