Utilities Make New Highs
Not too many people are talking about utilities but I've been watching them all day today and they showed relative strength. As you can see in the above chart the UTY index made a new high today.
Most of the utility stocks are not volatile enough to make short term trading worthwhile, however there are a few utility stocks that I've been trading from the long side which do move enough to make a decent short term profit such as PEG, CEG, EXC and ETR. I bought a few of these this morning and they closed well so I held onto them. I'll probably look to exit them tomorrow or the next day.
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![[Most Recent Charts from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_4.gif)
![[Most Recent Charts from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_4.gif)
![[Most Recent Exchange Rate from www.kitco.com]](http://www.weblinks247.com/exrate/24hr-euro-small.gif)
1 comment:
I am sure you have your eye on the Yen here...is that a five wave move off the lows per chance?
The effect of Fukuis comments wil be the usual read...i smell it hounding here
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