Hello fellow traders everywhere. Adam Hewison here co-founder of MarketClub with your weekend update for the trading week ending on 11/04/11.
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THE GREEK MINDSET ROCKS THE MARKETS
One of my favorite musical pieces, is the music from Zorba the Greek. If you haven't heard the music, or if you were too young to have seen the movie (1964), starring Anthony Quinn and Alan Bates, you might want to watch it. The movie captures the Greek mindset perfectly, and that mindset is still in place almost 50 years later. Zorba the movie is available on Netflix to those of you who still use that service.
To carry the musical metaphor one step further you might want to classify last weeks market action, as pure rock and roll. We rocked and we rolled, but by the end of the week when the music had stopped, nothing was settled, despite the G20 meeting in one of the ritziest towns on the French Riviera.
Funny, we don't seen to see any of these politicians pulling back on spending our money, while preaching austerity to the world. And what did they accomplish? They basically accomplishing nothing while eating good food and drinking good wine and schmoozing. Sounds like a party to this observer.
I could go on. but let's get to the heart of the matter, and that is how the markets closed for the week, and what new surprises does the next week's trading have in store for us.
Now here is a quick look at the percentage changes made for last weeks trading:
S&P 500 Index: lost 2.47%
Spot Silver: lost 3.29%
Spot Gold: gained 0.63%
Copper (December) lost 4.19%
Crude Oil(December): gained 0.99%
Dollar Index: gained 2.49%
Reuters/Jefferies CRB Index: lost 0.84%
Okay, now let's go to the charts and the video and see how we can create and maintain your wealth in 2011.
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S&P500 INDEX
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CHANGE FOR THE WEEK: lost 2.47%
OUR VIEW: 1260 resistance - 1220 support
CLOSE LAST FRIDAY: 1253.23
MKT LOWER FOR THE WEEK
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MARKETCLUB Trend Score = + 55
HOW TO USE MARKETCLUB'S SCORING SYSTEM:
Score: 50 - 65 Trading Range
Score: 70 - 80 Emerging Trend
Score: 85 - 100 Strong Trend
Monthly Trade Triangle for Long-Term Trend = Negative
Weekly Trade Triangle for Intermediate Term Trend = Positive
Daily Trade Triangle for Short-Term Trend = Positive
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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)
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CHANGE FOR THE WEEK: lost 3.29%
OUR VIEW: Trading Range
CLOSE LAST FRIDAY: 34.12
MKT LOWER FOR THE WEEK
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MARKETCLUB Trend Score = + 70
HOW TO USE MARKETCLUB'S SCORING SYSTEM:
Score: - 50 - 65 Trading Range
Score: - 70 - 80 Emerging Trend
Score: - 85 - 100 Strong Trend
Monthly Trade Triangle for Long-Term Trend = Negative
Weekly Trade Triangle for Intermediate Term Trend = Positive
Daily Trade Triangle for Short-Term Trend = Positive
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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)
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CHANGE FOR THE WEEK: gained 0.63%
OUR VIEW: Resistance at $1,770 basis spot
CLOSE LAST FRIDAY: 1,754.05
MKT HIGHER FOR THE WEEK
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MARKETCLUB Trend Score = + 90
HOW TO USE MARKETCLUB'S SCORING SYSTEM:
Score: 50 - 65 Trading Range
Score: 70 - 80 Emerging Trend
Score: 85 - 100 Strong Trend
Monthly Trade Triangle for Long-Term Trend = Positive
Weekly Trade Triangle for Intermediate Term Trend = Positive
Daily Trade Triangle for Short-Term Trend = Positive
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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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COPPER (DECEMBER)
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CHANGE FOR THE WEEK: lost 4.19%
OUR VIEW: 3.50 now key support
CLOSE LAST FRIDAY: 3.56
MKT LOWER FOR THE WEEK
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MARKETCLUB Trend Score = + 55
HOW TO USE MARKETCLUB'S SCORING SYSTEM:
Score: 50 - 65 Trading Range
Score: 70 - 80 Emerging Trend
Score: 85 - 100 Strong Trend
Monthly Trade Triangle for Long-Term Trend = Negative
Weekly Trade Triangle for Intermediate Term Trend = Positive
Daily Trade Triangle for Short-Term Trend = Negative
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Suggested Copper Trading Instruments:
Non Leveraged ETF's: (Long JJC)
Futures: Contracts are available to trade this market. Contact your broker
Options: Options Contracts are available to trade this market.Contact your broker
WARNING: Liquidity is some ETFs is very thin. Contact your broker for more information.
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CRUDE OIL (NOVEMBER)
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CHANGE FOR THE WEEK: gained 0.99%
OUR VIEW: Trading Range
CLOSE LAST FRIDAY: 94.26
MKT MIXED TO HIGHER FOR THE WEEK
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MARKETCLUB Trend Score = + 70
HOW TO USE THE MARKETCLUB SCORING SYSTEM:
Score: 50 - 65 Trading Range
Score: 70 - 80 Emerging Trend
Score: 85 - 100 Strong Trend
Monthly Trade Triangle for Long-Term Trend = Negative
Weekly Trade Triangle for Intermediate Term Trend = Positive
Daily Trade Trianglefor Short-Term Trend = Positive
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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)
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CHANGE FOR THE WEEK: gained 2.49%
OUR VIEW: Resistance at 77.50
CLOSE LAST FRIDAY: 76.93
MKT HIGHER FOR THE WEEK
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MARKETCLUB Trend Score = + 65
HOW TO USE MARKETCLUB'S SCORING SYSTEM:
Score: 50 - 65 Trading Range
Score: 70 - 80 Emerging Trend
Score: 85 - 100 Strong Trend
Monthly Trade Triangle for Long-Term Trend = Positive
Weekly Trade Triangle for Intermediate Term Trend = Negative
Daily Trade Triangle for Short-Term Trend = Negative
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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)
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CHANGE FOR THE WEEK: lost 0.84%
OUR VIEW: Trading Range
CLOSE LAST FRIDAY: 320.44
MKT LOWER FOR THE WEEK
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MARKETCLUB Trend Score = + 70
HOW TO USE MARKETCLUB'S SCORING SYSTEM:
Score: 50 - 65 Trading Range
Score: 70 - 80 Emerging Trend
Score: 85 - 100 Strong Trend
Monthly Trade Triangle for Long-Term Trend = Negative
Weekly Trade Triangle for Intermediate Term Trend = Positive
Daily Trade Triangle for Short-Term Trend = Positive
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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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We rely on our market proven Trade Triangle technology for catching the big moves.
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IS MARKETCLUB'S ONE-ON-ONE PERSONAL COACHING IS RIGHT FOR YOU?
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This is Adam Hewison for MarketClub, I'll see you Monday, have a great weekend.
Adam - did you just find out that the 1% are using our money
And cheating us while having a ball? And how many know that the
Greek default has been engineered so that the favored banks
such as CITIBANK etc don't take any haircut. But the
the retail investor does take a 50% haircut. Isn't that cheating?
Thanks... it's not simply Greece, it's the other PIIGS too. The world economy is so driven by emotion since May 2011, due to the feelings people still have about 2007/08 and the tech bubble and 1987 and... I could go on.
All of this should alert investors to one simple fact: manage risk by preserving capital, minimizing losses and maximizing returns will take 99% of the emotion out of trading and put far more profits back in!
Thanks team for your update.