During this lesson, we uncovered the very subtlest of opportunities in a trading vehicle that was designed to track “dynamic retail” firms, of all things. Our analysis hinged on a small but important one-off ‘A’ low that made the uptrend not only potentially usable for trading purposes, but also for predicting a strong holiday shopping season. With the broad averages and bullion trading within equally tight bands on this particular morning, we found subtleties in other vehicles as well, but nothing that promised the high leverage we have come to expect from camouflage trades.
