It can be noted the commodities such as Gold and Silver had very nice bounces today off important support levels. The broad market broke through some key levels I was watching. There are a few support levels broadly watched by the market – 200 day moving average, Fibonacci level, psychological 1300 level and the break-even on year. All of …
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May
17
Get Ready For A Market Bounce
I’m not guarenteeing a market bounce but the stars are aligning nicely. First, it is Thursday and the some of the short sellers are going to want to cover their position prior to Friday. The only way they can cover their shorts is to buy. Also, the current lows are less then 10 S&P points …
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May
14
S&P Breaks To New Lows
The market continues to follow through on our thesis of a market that wants to move lower. I think there is an opportunity for a short-term bounce in the markets but a lot of individual charts still look ugly. I would recommend holding onto your cash waiting for the buying opportunity.
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May
10
Market Heading To Test 2012 Lows?
That is the question. The answer to the question is does it matter? If you aren’t managing the risk you currently have in your portfolio, what good will it do. You are likely to lose money if you are sitting in a portfolio full of longs. DON’T DO THAT. It is much better for your …
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May
08
Another bounce in the low 1340s
Two days in a row the market has had a very strong 20 point bounce off the low 1340s. This is a sticky level for the market where sellers are closing their positions (buying back) and buyers are interested in….buying. Today in the gold market and S&P futures are the reason why I love volatility. Both markets …
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May
07
Defined Risked Opportunity or A Trap
The S&P has bounced off an important support level which happens to be the point of control for the year. Be diligent in your choices if you want to be long. There is nothing wrong with doing nothing as this strength could easily be sold in to.
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May
07
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May
03
Anticipate The Meaningful Move, Don’t Flip A Coin
The market will give us an opportunity to make money over the next week in a meaningful way. There is nothing wrong with being involved in the market, but a big allocation of your portfolio should be cash. The move in equities, gold, euro, etc. is about to happen. Be patient and you will be …
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May
03
Euro Sells Off, Dollar Strengthens, Equities Flat Line
Short Euros, Long Dollars, Slightly Long Equities – sticking with slow movers.
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