Hello MarketClub members everywhere! I have a lot to cover today, so let's get started right away.
Starbucks gave a major buy signal yesterday. I have talked about the $59.50 area as resistance and that barrier was breached with Starbucks Corp. (NASDAQ:SBUX) closing at an all-time high. I guess that means that our morning cup of coffee is going to go up as well.
Netflix.com, Inc. (NASDAQ:NFLX) announced a one dollar increase in its most popular plan. Some say this is a gamble, but the reality is, most consumers are not concerned with a one dollar increase and a price tag of $9.99 for unlimited entertainment.
Gold (FOREX:XAUUSDO) is showing a lot of action today, a close around current levels of $1,153 will represent the highest weekly close in six weeks. As you know, I have been bullish on gold based on the Trade Triangles technology and it looks as though it is paying off today.
I will be analyzing all three markets in today's video and also taking a look at some new ones that I think are interesting. I will also be doing my usual roundup of the major indices, plus crude oil which has moved very well in the last few days, and a quick look at the Euro.
Time permitting I will also be looking at stocks that are making new 52-week highs today. Here is a reminder of the rules for "The 52-Week New Highs on Friday" weekend trade.
Rule #1: On a new 52-week high, when the market closes at or near its high on a Friday, buy long and go home for the weekend.
Rule #2: Exit the long position on the opening the following Tuesday.
Rule #3: If the market opens lower on Monday, exit this position immediately.
Every success with MarketClub,
Adam Hewison
President, INO.com
Co-Creator, MarketClub
