Big Red Flags
- Posted by UpsideTrader
- on November 17th, 2011
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
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.
The Greenback. Rallying as the euro falls.
More melodrama updates tomorrow.
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