METALS and MINING STOCKS are way OVERSOLD
THEY JUST SHOWED SIGNS OF UPSIDE POTENTIAL
If you're so bent on PRECIOUS METALS then watch the MINING STOCKS. These stocks just showed up on the radar as showing some RISING PRICE POTENTIAL. Some stocks and ETFs to watch include:
GLD
SLV
PALL
NUGT
USLV
PHYS
PSLV
SPPP
AUY
NEM
CDE
SWC
PAL
MCP
ABX
SLW
WATCH THE CHART BELOW:
WATCH THE CHART BELOW:
MY STOCK MARKET COMMENTARY FOR TODAY:
Each day your analysis is a CONSPIRACY and not at all FACT. It's
completely SPECULATION. So to say the government does not have their
hand in the cookie jar and control these markets is just not true.
Unless you know it to be so. Whether you have a suspicion we are in a
bear market or bull market it is still your own hypothesis. You're
playing in the Wall Street Casino with lots of pretty data screens and
charts. You simply place your bets and cash in and cash out. Not much
difference since we now have all these high frequency trading algorithms
and supercomputers manipulating the market. :-)
So where do we go from here? Wouldn't you like me to tell you? But that will cost you a subscription fee right? And I have a disclaimer that I can neither confirm nor deny the accuracy of any of my opinions on the markets. So here it is:
We are going to tread sideways to lower now for the next two to three weeks. Thursday we have the ECB meeting and Friday the Jobs Report comes out. That will cause more chop but the direction of which is unknown. So we could be up 300 on the DJIA one day and down 500 the next. If you want to ride the waves then place your bets. I think a good ticker symbol right now is CASH. Remember CASH is a position.
Some levels to watch are very basic whole numbers for the most part since we have violated just about every trend imaginable. I'd watch the S&P500 1700 level to see if it holds and of course the 1800 level on the upside. The reason for these levels is that we really are in uncharted territory. You're always in uncharted territory even if you have general trends regardless of what anyone says about it. So then I pick whole numbers and keep it simple.
For some reason there's some correlation that seems to be going on with GOLD in general. The USD/JPY chart moves opposite GOLD so watch that if you play GOLD or SILVER. The US DOLLAR INDEX seems too erratic and out of phase with reality. I also notice there's some stabilizing to slightly upward trends in the metals and mining stocks.
The big players like GOOG, AAPL, BWLD, PCLN, CMG, LNKD, FB, TWTR, and so forth are always in the news as are many others too numerous to mention. Sometime for a quick day trade all you have to do is listen to CNBC give breaking news on a stock and then immediately go there for a quick in and out play.
If you want to gamble stick to the high volume stocks with lower prices that are generally not heading for financial problems or imminent bankruptcy and so forth. Otherwise stay in that nice four letter word CASH.
See you at the bell.
The News UNIT
ONE MORE THING (or TWO or THREE) :-)
THE NEXT COUPLE OF DAYS are going to be--ACTION PACKED?
...developing...
So where do we go from here? Wouldn't you like me to tell you? But that will cost you a subscription fee right? And I have a disclaimer that I can neither confirm nor deny the accuracy of any of my opinions on the markets. So here it is:
We are going to tread sideways to lower now for the next two to three weeks. Thursday we have the ECB meeting and Friday the Jobs Report comes out. That will cause more chop but the direction of which is unknown. So we could be up 300 on the DJIA one day and down 500 the next. If you want to ride the waves then place your bets. I think a good ticker symbol right now is CASH. Remember CASH is a position.
Some levels to watch are very basic whole numbers for the most part since we have violated just about every trend imaginable. I'd watch the S&P500 1700 level to see if it holds and of course the 1800 level on the upside. The reason for these levels is that we really are in uncharted territory. You're always in uncharted territory even if you have general trends regardless of what anyone says about it. So then I pick whole numbers and keep it simple.
For some reason there's some correlation that seems to be going on with GOLD in general. The USD/JPY chart moves opposite GOLD so watch that if you play GOLD or SILVER. The US DOLLAR INDEX seems too erratic and out of phase with reality. I also notice there's some stabilizing to slightly upward trends in the metals and mining stocks.
The big players like GOOG, AAPL, BWLD, PCLN, CMG, LNKD, FB, TWTR, and so forth are always in the news as are many others too numerous to mention. Sometime for a quick day trade all you have to do is listen to CNBC give breaking news on a stock and then immediately go there for a quick in and out play.
If you want to gamble stick to the high volume stocks with lower prices that are generally not heading for financial problems or imminent bankruptcy and so forth. Otherwise stay in that nice four letter word CASH.
See you at the bell.
The News UNIT
ONE MORE THING (or TWO or THREE) :-)
THE NEXT COUPLE OF DAYS are going to be--ACTION PACKED?
...developing...
