Big Red Flags

The agricultural space got crushed today. Lows in the sector were being hit  in unison, a sign institutions cant get out fast enough. Breaking support levels on big volume in never good. Watch this group for lower prices. Hands will be lost catching these knives. I will be shorting rips.  $CF, $POT, $MOS, $AGU

cf23 300x197 Big Red Flags

CF

pot 2 300x198 Big Red Flags

POT

 

agu2 300x199 Big Red Flags

AGU

 

mos21 300x197 Big Red Flags

MOS

The Euro is close to breaking support. If it breaks, the dollar may rip higher and cause some more short term pain. This caused me pain in my energy longs today and I took stops. That is either an epic falling wedge on the euro or the beginning of a meltdown.

euro21 300x185 Big Red Flags

Eurodollar

The Greenback. Rallying as the euro falls.

dollar9 300x186 Big Red Flags

The Dollar

More melodrama updates tomorrow.

 


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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  • Joe Donohue

    Joe was on Wall St, for twenty five years and his career took him to the retail, institutional and capital markets... More »

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