Metals:
I closed out long positions in metals today. They haven't managed to get off the ground since the 6/23/15 projected CIT date, and the very weak close today in gold mining shares probably portends additional weakness in gold and silver. The next significant CIT projection I have for metals is around 8/28/15, so I'll most likely wait for that to see if a tradable setup appears.
Stocks:
Still waiting for major price projections to get hit (2157 to 2210 area basis SPX) before considering heavy short positions. Important timing appears to be shaping up for a potential turn/(top?) on or near the same CIT timing for the metals - 8/28/15. In the interim, possible short-term swing reversal dates are on or near 7/17/15(top?) and 7/29/15(low?). If something close to those swing points occur, I would look for a final rally from the end of July into the end of August, ideally into the price projection window stated above.
Of course, all of the above is highly speculative and may be nowhere near what actually transpires in the fullness of time.
Kim Rice 7/1/15
