Commodity slaughter continues on the rise of the USD. We entered the day with our swing account 100% cash but did make two purchases today. OIH and CENX on the 200SMA test. We initially had decided to put a stop of 119.1 on OIH (couple cents below today's low) but instead have sold half the swing position this afternoon and are holding very small size with no immediate stop. We think the commodities should find some support soon as the XME SLX KOL are all close to the 200SMAs. We will buy all of these, swing size, on those spots -- if we get there tomorrow.
Here are the charts:
One more sell-off like today and we should hit the 200SMAs on the following (arrow indicates our desired entry spots):
