TRADE ALERT
This is what I told my students today: Regarding the SELL GCQ11 signal that we had last week. I have a sell-stop order GCQ @ 1576, the signal day….just waiting for confirmation. I love to pick mkt tops. If u r interested in following my trading system, join one of my Free Webinars!!! Trading […]
Read more...
Futures Market and Politics All that glitters is “not” gold?
From a personal trader’s “Historic” diary, it is always fun to write a “Futures” diary. In January 1980, the Texas oil tycoon Nelson Bunker Hunt and other partners became famous for succeeding in cornering the silver market. Prices peaked at $50/oz, and then collapsed to $10/oz. in less than 30 days! Historically, the only […]
Read more...
Gold Aug GCQ11
Watch this trading range: 1560 and 1480. Breakout confirmation trading strategy: Long above 1560, Short below 1480. Happy Trading… P.S. Tomorrow’s monthly unemployment report may be the catalyst for market movement. Nostradamus Prediction! Gold price range in the next 2 years: No budget agreement….$6000 Budget Agreement…$1000
Read more...
Chart Reading vs. Trading with Indicators
When selecting a trading methodology that is effective in the long run, a trader needs to ask himself what type of approach would work best for accuracy and reliability. First there is the fundamental approach which works best for the long term trader/investor. Warren Buffet is a good example of a trader with […]
Read more...
Current Projection for Equity Markets
Basis the September e-mini S&P, the next major time target I’ve projected is July 31st. This date arrives on a Sunday, so my expectation for a significant transition in the behavior of the market will likely be as of Monday, August 1st. During the first part of last week, I had worked out some overhead […]
Read more...
Gold Down Again?
A close in GCQ11 below $1496 will signal a downtrend, and a projected target of $1400. Currently gold is @ $1500/oz. A $100 per oz. price correction to $1400 is $10,000 per contract. Risk Disclosure: There is a risk of loss in trading. Whether it is commodities, stocks and/or […]
Read more...
Conventional Chart Analysis
The Nasdaq (September contract) is challenging 2300…stiff resistance. Technicals are pointing towards 2000 target by Labor Day 2011. If interested in how I came up with this chart prediction, give me a buzz!
Read more...
Conventional Technical Analysis vs. Psychological Evaluation of the Market
After 35 years trading as a technician in the commodity futures markets, and after winning the Chartist of the Year award, I do not believe that “conventional” technical analysis is the way to succeed in trading. My trading approach has the advantage of no interpretation…I call it the R2D2 System. […]
Read more...
How to Pick a Market Top!
The Euro-currency and silver are currently setting up for a sell signal. Wednesday gold finally tested the highest closing price of 5/2/11, then retreated quickly. I would use the silver sell signal confirmation to go short the gold…. Can this be the top of the market?
Read more...
US Dollar Up?
The indicators that I use to measure the market psychology are purely mechanical and not subject to interpretation. On the other hand, there are times when “Volume” analysis may add to the odds that will favor the next market direction. This weekend we will discuss the US Dollar and why it may make […]
Read more...