The market continues to rally as the Fed lowers key lending rates. Rate cuts are having a negative effect on US bonds relative to foreign ones. Up volume significantly outweighed down volume, continuing the bullish theme. More stocks are trading above their 50dma on lower volatility. New highs are becoming more prevalent as this index…
With the bottoming of the BDI and a breakout in HUI/GOLD, here are two stocks to watch. There might be a quick short in AEM, but longer term, it’s looking like a market leader. DSX is getting extended, but buying the dip is an attractive proposition. The market is still in bad shape and exhibits…
My indicator was down today, but not broken. One sector is in critical danger. The financial sector made a new O today, indicating an increasingly volatile and bearish environment. The buywrite/index ratio is rising (bearish), but it approaching a falling 10sma (bullish). This breakout in the HUI/GOLD is bullish for gold stocks, so I’m buying…
I hope to God that the chart below is a misprint and not a premonition. If bonds make a move like that, this crisis is going to take a turn for the worst. Though we closed positive Friday, my indicator fell, suggesting a bearish divergence in an uptrend. Buy on the dip is still in…
The Baltic Dry Index has been falling for months, but that may be changing. If you look closely, the index has registered its first X since September. This is a good sign for the badly beaten shipping sector, as well as the global economy. For those unfamiliar with the BDI, it is a benchmark for…
Thursday evening, itching all over and writhing in pain, I prayed to the Twin Pink Goddesses Bismol and Benadryl. It was getting harder to breath as red and white splotches began to texture my skin, but there was nothing to be done. Note to self: don’t use the epipen for recreation, you just might need…
According to my NASDAQ indicator, the market is stronger than the pre-election rally. Buying dips in sectors breaking out of bases is the way to play. At some point I’ll make a rundown of sectors I think are hot, but gold miners are clearly the group to beat. A return to prices seen before Lehman’s…
Even with today’s negative action, my indicator was positive. We’re at the levels that preceded the last down leg. Will it be different this time? Short treasuries and short gold is breaking down, so people are still shunning risk. The yield on the 30 year looks ready to make new lows. I’ve been too busy…
Hot picks from StockTwits.com Apple continues to enjoy a short term uptrend, but I think there are better places to feed. General Motors still looks terrible, but it too is enjoying a short term uptrend. Google might break the downtrend, but it’s at major resistance. POT is dangerous, and should be avoided (unless you like…
Some indexes are beginning to show real signs of life. Brazil’s Bovespa has broken a downtrend and Bollinger Band, so I’m looking to buy on dips. Gold miners have been putting in an uptrend longer than any index I cover. With so much political uncertainty, I can’t say I’m surprised. Nevertheless, stay cautious if you’re…