I have written about the Dow Jones Industrial Average before. I also made a gutsy prediction that the DJIA would hit 14,000 by February 25th, 2007 . I still stand by that forecast. But first things first. Clearly in order for the DJIA to get that far, the first thing it has to do is … Read more
For about half a year I have been watching and observing the Coca Cola stock price. Needless to say this is a very slow moving stock and for good reason, it has 2.25 BILLION shares in the float. Definitely a beast or dog to the hot blooded trader. However, what I am about to tell … Read more
I still think a huge move is coming for the Dow Jones Industrial Average. Not a one day wonder, but more like a steady sloping upward trend. There are a huge number of buy stops just above 11,000 , that once activated will send the market a lot higher than most people probably believe at … Read more
I just wanted to say a few words about the general broad market (Dow, Nasdaq and S&P). I will keep it short, but felt it was important to mention for the simple reason that knowing the primary direction of the TIDE in my experience is very important for the individual trades and individual stocks. If … Read more
I am going to post a chart here which should give you a rock solid dose of long term thinking. Ponder for a moment your long term opinion on the market.. do you have one? Bearish, Bullish or in between? It goes without saying that a fairly confident long term forecast can help so many … Read more
The S & P 500 powered down with volume today.. Quite heavy volume too. A test of 1163 is starting to look like a very good possibility now and would at least open up the possiblity of that reverse head and shoulders pattern setup I mentioned in an earlier posting. After looking more carefully at … Read more
We are about to see some fireworks in the Gold market in July August and September and likely October, November and December as well. Gold during the last 6 to 9 months has been an absolute SLEEPER in terms of price action. Small price ranges, slow price movement and BORING price action. But behind the … Read more
I am still open to the possibility of a reverse head and shoulders pattern being created on the S & P 500 index. Today we declined on big volume from the highs and makes me think my previous article of ‘summer doldrums’ could be kicking into effect thereby delaying the big upwards breakout in the … Read more
Whether you are a beginning trader just starting to get the feel for the business and making your first trade, or an experienced pro unfazed by anything the market throws at you, chances are that you are still susceptible to the emotional highs and lows of your day to day or month to month trading … Read more
The one thing I forgot to mention in my previous post regarding the S&P 500 breaking to new highs was that we cannot rule out a delay of the breakout due to ‘low volume summer trading’ ! The low volume factor was ignored however on June 17th. And it was a Friday at that! So … Read more