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The 3 Essential Parts of an Elliott Wave Trade - Part 1

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By Elliott Wave International

When it comes to improving your wave-based analysis and technical trades, three steps may sound simple enough. Yet if you have any experience trading, you know that nothing about trading is easy.

Senior Analyst Jeffrey Kennedy knows that it takes skill, discipline and courage to execute a successful trade. In the new book he has coauthored with EWI's Wayne Gorman  Visual Guide to Elliott Wave Trading, he picks up where Frost and Prechter's classic textbook Elliott Wave Principle leaves off to give you the perfect blend of traditional textbook analysis and real-world application.

According to Kennedy, there are three key components of a successful trade:

  • Analyze the price charts.
  • Formulate a trading plan.
  • Manage the trade.

In this excerpt (Part 1 of 3), Kennedy examines a high-confidence trade setup in Caterpillar (CAT).

Part One: Analyze the Price Charts Continue reading "The 3 Essential Parts of an Elliott Wave Trade - Part 1" →

Chart to Watch - LSI Corporation

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We've asked our friend Jim Robinson of profittrading.com to provide his expert analysis of charts to our readers. Each week he'll be be analyzing a different chart using the Trade Triangles and his experience.

Today he is going to take a look at the technical picture of the LSI Corporation. (NASDAQ_LSI).

I hope you are having a GREAT week !!!

This week let's take a look at how the LSI stock chart looks with the MarketClub Trade Triangles.

With stocks we use the monthly MarketClub Trade Triangle to tell the trend and the weekly MarketClub Trade Triangle for timing.

LSI is on a monthly green Trade Triangle which means the trend is up. Continue reading "Chart to Watch - LSI Corporation" →

The Biggest Gold Prediction Of The Year

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By:David Goodboy of Street Authority

Whenever I'm faced with a major change in my opinion regarding the market's long-term direction, I think of the English punk band the Clash.

In particular, the 1980s hit "Should I Stay or Should I Go" comes to mind. With apologies to the song's writers:

"Should I buy or should I sell? If I buy, there will be trouble / If I sell, it will be double."

Thinking of these altered lyrics might be a nod to being obsessed with music during my adolescence. It might also be a signal that it's time to make a change. I like to think of them as the latter. Continue reading "The Biggest Gold Prediction Of The Year" →

Something's Got to Give in the Precious Metals Market

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The Gold Report: Heiko, in late June gold had its biggest weekly drop in two years. What's your take on that?

Heiko Ihle: It was set off by far-reaching talk of a slowdown in quantitative easing. However, an awful lot of U.S. dollars are still floating around and the price of gold is pegged to the U.S. dollar. In the long run, companies can't sell gold for less than it costs to take it out of the ground. At some point something has to give.

TGR: So, what's going to give?

HI: Either the cost of mining or the price of gold. Quite frankly, the cost of mining has been reasonably sticky thus far.

TGR: Can miners profitably mine gold at $1,200/ounce ($1,200/oz) and silver sub-$20/oz? Continue reading "Something's Got to Give in the Precious Metals Market" →

Strategies for Success in a Bloody Market

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The Gold Report: John, early this year you predicted that as many as 500 companies listed on the TSX Venture Exchange would go under by the end of 2013. Do you stand by that?

John Kaiser: I think at least 500 companies are endangered; I doubt they will disappear by the end of the year. The critical time will be next summer, when their audited financials are due and their annual meetings will be held. If we have not had a turnaround by then, many management teams will hand the keys over to the stock exchange and abandon their companies.

Of the 1,800 companies we follow, 761 as of June 28 have less than $200,000 ($200K) in working capital left. That is the bare minimum needed to merely exist as a publicly listed company.

TGR: Is capital on hand one of the first things that you look at when deciding whether to invest? Continue reading "Strategies for Success in a Bloody Market" →