Tom – Page 90 – Best Online Trades

SHLD Looks Like a Decent Swing Trade Now

February 7, 2012September 16, 2009 by Tom

SHLD Sears holding Company looks like a decent swing trade setup right now for a possible scalp of about 9% on a filling of the downside gap. This is a pretty straight forward setup. The price action of SHLD has been oscillating within a somewhat large channel and now we are at the bottom of … Read more

ABK Ambac Still Holding Ground After Yesterday’s Bearish Tape Action

February 7, 2012September 16, 2009 by Tom

I still want to believe in ABK. I don’t know if we are going to get a breakout or breakdown this week, but we are still consolidating sideways after the huge move in late August. This to me is a positive sign even though I made comments yesterday on how bearish the daily price bar … Read more

The SPY ETF Breaks North out of Rising Wedge Formation

February 7, 2012September 16, 2009 by Tom

The SPY ETF has a very key day today. Today was in my opinion probably a bigger nail in the coffin for the bears than any other day. Simply put, we broke north out of this large rising wedge pattern on a nice increase in volume and suggests that the SPY is in no mood … Read more

SPY ETF on a Mission to Fill the October 2008 Gap

February 7, 2012September 15, 2009 by Tom

The SPY ETF looks like it is on a clear mission to fill the October 6, 2008 gap which would be filled if we hit 109.86. That gap was on very heavy volume on the SPY (575 million shares) and it is going to be interesting to see first if the gap is filled and … Read more

ABK Ambac Failed Badly Today

February 7, 2012September 15, 2009 by Tom

I mentioned in a previous post that ABK Ambac was looking good for some sort of bullish breakout and that a move to 1.90 or higher could set it in motion. It never got to that level and had a bad looking failure today and will probably get some follow through downside tomorrow. I think … Read more

Gold Price May Reach All Time Record Highs Soon

February 7, 2012September 15, 2009 by Tom

There was once again an amazing gold battle today. Today should have been the day ‘they’ slammed the gold price down 50 dollars and crushed the recent uptrend. But they tried and tried and just could not get the job done. The big different between this attempt at breaking the 1000 mark and the previous … Read more

I May go Long ABK Ambac or MBI MBIA Tomorrow

February 7, 2012September 14, 2009 by Tom

I mentioned before that I was going to watch ABK Ambac like a hawk in the coming weeks. Well I have not forgotten about it and based on today’s action I am liking what I am seeing in both ABK (Ambac) and MBI (MBIA) price charts. If ABK can get to 1.90 tomorrow and stay … Read more

Gold Price Declines on about 50% Less Volume Compared to Friday

February 7, 2012September 14, 2009 by Tom

They huffed and they puffed all day long, trying to body slam the gold price down to create real downside technical damage today. But in the final analysis, all “they” could accomplish was a minor breakdown on what I consider to be very weak volume (volume on the GLD ETF), especially as compared to last … Read more

Sell Rosh Hashanah and Buy On Yom Kippur ?

February 7, 2012September 13, 2009 by Tom

My sense is from a market timing perspective is that we are coming into some very interesting weeks ahead here closer to mid September. I previously mentioned that there exists a triple bearish divergence in the S&P500. These bearish divergences in a bullish uptrend can drag on for what seems like an eternity sometimes. But … Read more

Spot Gold Closes Over 1000 Again

February 7, 2012September 11, 2009 by Tom

If you take a close look at the chart above you can clearly see that the spot gold price has successfully broken above the longer term down trendline since this mini bear market in gold started in March of 2008.

Despite this bullish action there is still a lot of talk that gold will break down again and maybe go to 850 or somewhere near that level.

I have a hard time believing that at this point. I would rather just trust this simple chart which is saying to me that a successful break of the bearish downtrend has occurred and so now it should be assumed that we should eventually get continuation to the upside and probably at a faster speed than usual because there is zero resistance on the left side of the chart above 1034.