Major averages inched forward on higher triple witching volume. Markets are reacting in measured fashion to the situation in Iraq as oil can come from elsewhere, and the U.S. could lift its 1973 ban on oil exports. So even if Iraq tries to hike oil prices, there are workarounds. Precious metals may have found the bottom of their long basing patterns as both gold and silver were up sharply on volume. Keep in mind that both are still trading in the bottom 1/3rd of their basing patterns so expect some back-and-fill action in the weeks ahead.
As members can see, a number of high quality leading stocks continue to show various buy points. As always, your position sizing, sell stops, and overall portfolio exposure should be in line with your risk tolerance levels.
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