Market CommentaryMore Market Commentary
December ICE coffee futures a selling opportunity on more price weakness. See on the daily bar chart for December coffee futures that prices are in a steep swoon as the bears have quickly gained downside technical momentum. A move below chart support at Tuesday’s low of $1.9500 would give the bears better downside momentum and it would also become a selling opportunity. The downside price objective would be $1.7500 or below. Technical resistance, for which to place a protective buy stop just ...Read More
A client of mine sent me a bio yesterday on Rod Dedeaux, who was the baseball coach for USC for 45 seasons. Dedeaux was a legendary leader, chalking up more national titles and wins than any other coach of his day. 200 of his players went on to play professional ball.
Dedeaux neither lost his temper nor disrespected or denigrated anyone. He cultivated the ability to befriend, encourage and motivate, rather than criticize and coerce. His enthusiasm was contagious as was his belief in the rewa...
The gold market has posted impressive price action in the past few weeks in the face of a rising U.S. dollar and in this week's case a major rebound in U.S. stock indices.
See Figure 1 below. The gold market made a double bottom a few weeks back at the $1182-83 area from last December. Gold’s rebound, in my view, is largely due to safe-haven buying due to the lack in confidence in fiat currencies as central banks in Europe. Also, China has adopted more easing measures.
Hedge funds...Read More
Have you ever been in a trade that was a textbook setup and you thought you landed a great trade when all of a sudden it hit your stop, took you out and then it worked and hit your target?
I am sure you felt a bit of unsettled emotions as this played out before you on your trading screens at your desk. As a trader you have to get smarter and learn from these little tricks the big boys do to throw us out of our trade.
On October 17, 2014 COF gapped down on earnings and look...Read More
It was "the" IPO to own this year.
You know how you get those "Oriental Trading" magazines in the mail? Where you can buy 250 bouncy balls for 5 bucks?
Alibaba is like that, except on a massive scale.
And after all that IPO hype, the stock ran from 100 the first day it traded and has fallen into a range since.
This chart is a classic IPO base and break pattern. 90 is an obvious level that if broken will drive the stock to attempt to retake 100.
I would not be surprised if we saw a "shake and bak...Read More
Featured StoriesMore Featured Stories
How many times have we been told that communication is the key to a good marriage or a good friendship? In the business world, we are told that communication is the key to success. I am a big believer in the power of open communication. It’s one of the main reasons that Guardian Accounting Group has a flat fee structure. We never want our clients to be afraid of talking to us about a tax situation because of an hourly fee. Clients are encouraged to call us with all their tax questions and con...Read More
You can look at markets and make trading decisions in many ways. Market Profile® has been an indispensable tool in my trading career. While Market Profile is a lifelong study, three characteristics I use to increase the probabilities of making successful trades are areas of acceptance and rejection, trade location, and context.
Areas of Acceptance and Rejection
The most useful characteristic of Market Profile is how it paints the picture of acceptance and rejection of price over time. It show...Read More
In a recent interview, Rick Rule of Sprott Asset Management made a strong case that this bear market may be looked back on as “the good old days” in terms of the golden opportunity to invest in the precious metals sector.
Rule said there has been “carnage” in the precious metals markets over the past three weeks, adding to “slow motion” carnage since 2012. He said it is “Difficult for people to see benefit in this type of carnage.” However, he argued, “Three or four years from now, we’ll look...
When fears grip the public about the spread of virulent diseases such as Ebola and other malicious conditions, it is time to assess the situation and enact strategies to enhance safety…health-wise and financially as well.
World health authorities believe that that Ebola and other contagious maladies will have a significant effect on the world economy. The U.S. is enacting emergency procedures and our healthcare industry is gearing up for what will be a difficult challenge for society at large ...
Technical analysis is widely used in the trading community to forecast the market. There are numerous texts on the subject. There are well known traders and authors who have made famous their particular niche, e.g. candlesticks, point and figure, Bollinger Bands®, etc.
There’s even a body, the Market Technicians Association that offers a professional designation to candidates who have demonstrated expertise in the subject matter by passing three levels of rigorous testing and abiding by the ...