Hello traders everywhere! Adam Hewison here, President of INO.com and Co-creator of MarketClub, with your mid-day market update for Tuesday, the 28th of May.
The Trend, The Trend , The Trend
I've have talked about the power of market trends for quite some time, and how our Trade Triangle technology has nailed the current move in the stock market. Ask yourself this one question, would you stand in front of a speeding train that was heading right for you? Of course not, that is why it is important to never underestimate the power of trends. Trends tend to persist longer than most people expect. Currently the Trade Triangles have been in this bull market since the first quarter of 2009. I continue to keep a vigilant lookout for a reversal, but as of today that reversal has not been happened. I'll will be watching our trusted Trade Triangles very closely and reporting the first indication that trends are changing in the major indices.
The Golden Boy Does It Again
Elon Musk, is one of the most amazing individuals and visionaries since Steve Jobs. Mr. Musk is showing the world that not only can he create a successful electric car company Tesla , he can also push the solar power industry with this chairmanship of his solar company SolarCity. I am not going to go into detail about Mr. Musk's other company SpaceX, which recently landed a one billion dollar contract with NASA. I'll be showing you the stock action of both Tesla (NASDAQ: TSLA) and SolarCity (NASDAQ: SCTY).
Tiffany Shines on Strong Earnings
Can anyone say BLING in the BLUE box. Tiffany (NYSE:TIF) reported earnings today and they were better than expected, with most of the growth coming out of the Far East. I'll will be looking at this stock and analyzing the trend and seeing if this market is still a buy.
The Gold Trend Continues
Chop, chop, fizz, fizz, oh what a relief it is. This was a very popular slogan from the Alka Seltzer company in the early 80s. Unfortunately there has been no relief for the gold bulls as the gold market has been very choppy as of late. I see no let up in the downward trend for this once precious metal. You do of course have a diehard group of gold bugs who are going to hold onto their gold no matter what. On the other hand you have a large contingency of hedge funds and short-term speculators who are trading in and out of this metal. I'll will be looking at gold today and giving you my latest thoughts.
Have a great trading day,
Adam appears frequently on the following financial news channels as a guest expert. Click on any cable logo to watch Adam's latest appearance.