Hello fellow traders everywhere. Adam Hewison here co-founder of MarketClub with your weekend update for the trading week ending on 10/28/11.
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BIG MOVES IN ALL THE MARKETS
Last week we saw the markets have massive gains both on the upside in the case of equities, gold, silver and crude oil. The US dollar came under pressure losing 1.6% on its index.
You have to be impressed with the market action and certainly this is a classic example of markets not following the fundamentals. I think everyone can agree that the fundamentals in Europe are not good and they are not particularly great here in the United States.
A quick look at the changes for last week:
S&P 500 Index: – up a positive 3.78% * Spot Silver:– up double digits with a gain of 12.64% * Spot Gold: - up 6.15% * Crude Oil (December): - up 7.05% * Dollar Index: - down 1.6% * Reuters/Jefferies CRB Index: - up 3.9%
So let's go look at the charts and see what to expect for this coming trading week and find out how we can create can maintain your wealth in 2011.
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S&P500 INDEX
Change for the week: + 3.78%
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Monthly Trade Triangles for Long-Term Trends = Negative
Weekly Trade Triangles for Intermediate Term Trends = Positive
Daily Trade Triangles for Short-Term Trends = Positive
Combined Strength of Trend Score = + 70
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Suggested Trading Instruments for this INDEX
Non Leveraged ETF's: (Long SPY) (Short SH)
2 x Leveraged ETF's: (Long SSO)(Short SDS)
Futures: Contact your broker
Options: Contact your broker
WARNING: Liquidity is some ETFs is very thin. Contact your broker for more information.
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SILVER (SPOT)
Change for the week: + 12.64%
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Monthly Trade Triangles for Long-Term Trends = Negative
Weekly Trade Triangles for Intermediate Term Trend = Positive
Daily Trade Triangles for Short-Term Trends = Positive
Combined Strength of Trend Score = - 70
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Suggested Trading Instruments for SILVER
Non Leveraged ETF's: (Long SLV) (Short the ETF SLV)
Leveraged ETF's: (Long AQG) (Short ZSL)
Futures: Contact your broker
Options: Contact your broker
WARNING: Liquidity is some ETFs is very thin. Contact your broker for more information.
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GOLD (SPOT)
Change for the week: + 6.15%
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Monthly Trade Triangles for Long-Term Trends = Positive
Weekly Trade Triangles for Intermediate Term Trends = Positive
Daily Trade Triangles for Short-Term Trends = Positive
Combined Strength of Trend Score = + 100
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Suggested Trading Instruments for GOLD
Non Leveraged ETF's: (Long GLD) (Short the ETF GLD)
Leveraged ETF's:(Long UGL) (Short GLL)
Futures: Contact your broker
Options: Contact your broker
WARNING: Liquidity is some ETFs is very thin. Contact your broker for more information.
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CRUDE OIL (November)
Change for the week: + 7.05%
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Monthly Trade Triangles for Long-Term Trends = Negative
Weekly Trade Triangles for Intermediate Term Trends = Positive
Daily Trade Triangles for Short-Term Trends = Positive
Combined Strength of Trend Score = + 70
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Suggested Trading Instruments for CRUDE OIL
Non Leveraged ETF's: (Long USO) (Short the ETF USO)
Leveraged ETF's: (Long UCO) (Short DTO)
Futures: Call your broker
Options: Call your broker
WARNING: Liquidity is some ETFs is very thin. Contact your broker for more information.
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US DOLLAR INDEX (SPOT)
Change for the week: - 2.72%
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Monthly Trade Triangles for Long-Term Trends = Positive
Weekly Trade Triangles for Intermediate Term Trends = Negative
Daily Trade Triangles for Short-Term Trends = Negative
Combined Strength of Trend Score = - 60
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Suggested Trading Instruments for the US DOLLAR INDEX
Non Leveraged ETF's: (Long UUP) (Short UDN)
Non Available Leveraged ETF's: (Long -) (Short -)
Futures: Contact your broker
Options: Contact your broker
WARNING: Liquidity is some ETFs is very thin. Contact your broker for more information.
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REUTERS/JEFFRIES CRB COMMODITY INDEX (SPOT)
Change for the week: + 3.90%
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Monthly Trade Triangles for Long-Term Trends = Negative
Weekly Trade Triangles for Intermediate Term Trends = Positive
Daily Trade Triangles for Short-Term Trends = Negative
Combined Strength of Trend Score = + 60
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Suggested Trading Instruments for the REUTER/JEFFRIES CRB COMMODITY INDEX
Non Leveraged ETF's: (Long CRBQ) (Short the ETF CRBQ)
Leveraged ETF's: (Long UCO) (Short CMD)
Futures: Contact your broker
Options: Contact your broker
WARNING: Liquidity is some ETFs is very thin. Contact your broker for more information.
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As always, we rely on our market proven Trade Triangle technology for catching the big moves.
FIND OUT IF MARKETCLUB'S ONE-ON-ONE PERSONAL COACHING IS RIGHT FOR YOU
This is Adam Hewison for MarketClub, I'll see you Monday, have a great weekend.
I have heard nothing but talk about Europe's problems for months, which of course is a huge concern for everyone.
And I have lost money on my short positions (I bought January SPY puts in September). My concern is what happens when our U.S. "Supercommittee" has to make a decision on what to cut by the end of November?
If they make a decision, I am wondering what markets will be affected the most, and if they don't come to an agreement what do the automatic cuts mean for the market most likely? My money is on some down days around that time and I am holding my short SPY positions until then. Unless of course all triangles go Green.
I don't think Europe has settled a darn thing. There is nothing different in last week's package from what the tall foreheads did last summer, and that led to a big, fat selloff in the market after a rally. There's a LETTER promising austerity, hoo-ray! There are a lot of promises and faulty math. Private lenders have agreed to take 50 cents on the dollar on their loans. Hoo Ray! (who are these lenders? And why did they agree to take such a haircut?), and an agreement to look at the situation again in November. Greece gets to reduce its debt to 120% of GDP with a bailout financed by unhappy european taxpayers. Hoo-ray.
After the 300+ euphoria rally, it is time to look at the details, where the devil lives.
Missing this time, for the first time, is advice for long, medium and short-term traders. Wassup? Is this a long-term policy change? If so, why?
Best wishes
Adam,
(although thoughts welcome from anyone)
I have been short the S&P for a while and over OCtober I have made a significant loss. I have admitted defeat but my question is - should I sell now or wait for a slight dip to the S&P during November?
What do you think??
Cheers
Adam, what kind of action will it take for silver's Monthly Triangle to turn green? Thanks
What is the significance of a score of -70? I'd say that a move of +13 % is a pretty bullish move. Still you're recommending folks to short this market.
I am as excited as you to see that S&P earnings are 80% of their 2006-2007 peak. I guess only 34% of are either honest or have not lowered their expectations-st.
Time to short Apple.
iPhone 4s has battery problem big time
THANK YOU FOR THIS GREAT THOUGHTS AND REVELATIONS
Note to all followers:
One should look at fundamental, always.
Markets do following the fundamentals.
That's why the markets rally...
Over 66% of the SP500 companies showed profits above expectation.