Heads up Day for Traders, and what is CNBC talking about

Today is a key day.  This is the day that establishes yesterday as capitulation day for this stage of the stock market cycle. 

CNBC was all in a lather yesterday about the falling dollar and how that means $ 150 oil is in the cards, the charts we look at show the dollar bottomed in mid-March 2008 and is headed higher for the moment.  Again the oil demand talk is just hype, look at the stock markets of India and China, do they look like robust economies that are chasing oil, both markets are down over 50 percent this year?  Speculators are  the only demand for oil at this point.  There are a lot of long term reasons to be bearish the stock market, but oil is not one of them.  In fact there is only one legitimate commodity bull market left at this point, corn for weather reasons.  And as I remember when you don’t plant corn for weather reasons you plant soybeans.

We have four tracking funds at Marketocracy that track our individual stock and ETF positions. Here is the summary for those tracking funds and the positions we ended up with at the close on May 19th (the 1437 S&P bounce high) .  These positions have been held until today.  We are going to be doing a significant amount of buying today and will be stepping into financials for the first as we position for the election cycle bounce that we mentioned a few days ago.

Tracker “ESF” Conservative Tracking Fund                    Neutral, longs and shorts offset

Tracker “EVF” ETF Tracking Fund                                      Net 75 percent  Short

Tracker “EHF-1” Aggressive Short Fund                           Net 150 percent Short

Tracker “EHF-S” Aggressive Special Short Fund          Net 150 percent Short

8:01 AM CDT