THOUGHTS AND TRADING IDEAS FOR THE WEEKEND
Did Crude Oil top out? YES ---
Did the market put in bottom? YES ---
Has Gold topped out? YES ---
What a difference a week makes, Crude Oil slides below $90 a
barrel, Gold blinks and trades below $800, and stocks rocket
up for there best one week performance of the year.
So is a recession looming or are happy days here again?
What we witnessed this past week was a massive short
covering rally in the equity markets. We have discussed this
before, bears make the best bulls, and that's exactly what
happend in the equity markets this past week. We witnessed a
massive unwinding of the oil/equity spread. Traders bolted
for the same door as they covered short financial equities
and liquidate long positions in crude oil.
On top of all that, help,came into the equity markets in the
form of Fed governor Donald Kohn and later in the week from
Ben Bernanke. Each of them let it be known that they were
not against lowering interest rates. With so much good news
the market only had one way to go UP, UP, and maybe away.
But can it last? That's the question on most traders minds
this first weekend of December 2007. Is the subprime (old
story ) still hanging around ready to throw the world into
a recession. Is the soft housing market going to crimp
consumer spending this holiday season? Is oil going to
shoot over $100?
It's all part of the ebb and flow of the marketplace.
DOW has resistance at 13,500.
NASDAQ has resistance at 2,700 and again at 2,740.
GOLD SPOT has resistance at 830 and support at 772.
CRUDE OIL (Jan) resistance at 96.00 support at 84.00
Speaking of the marketplace ...
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SOMETHING TO REMEMBER
"It's better to be wrong than wrong and stupid."
How to manage losses.
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WHICH WAY FOR THE MARKETS NOW?
Use this really cool analysis tool and get instant answers
in plain English on any market.
There is no cost.
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THE VOTES ARE COMING IN ON THE ECONOMY
Here's the question we posted on our Traders Blog blog. "Are
you comfortable about the economy?" The results may surprise
you. Vote, then check out the results.
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TIME TO LAUGH
Two traders riding in an elevator at the Chicago Board of
Trade. One trader turns to the other and says "What'ya do
this weekend?" The other trader answers "I got a dog for my
wife". The first trader without missing a beat says, "Nice
trade".
This joke courtesy of Chuck Le Beau of Arizona. Heard any
good trading or market jokes lately?
Send it to [email protected]
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LEARN HOW TO TRADE A DOWNWARD TRENDING MARKET
In this video lesson, we give traders three
compelling pieces of information about how to trade a
downward trending market. Watch this streaming video lesson
to learn about shorting stocks.
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INO QUOTED IN THE NEWS THIS PAST WEEK
• SINGAPORE BUSINESS TIMES
'You've got some of the top Wall Street minds, from George
Soros to Warren Buffett and Julian Robertson, saying we're
heading into a recession, and the price of oil is clearly a
big reason why,' said J Adam Hewison, president of INO.com,
a financial research firm that offers technical analyses of
equities, futures, options and foreign exchange markets.
Just as worrying, the prospects for oil retreating to lower
levels in the next several months appears low, many Wall
Street analysts said. 'I put a lot of the blame for what I
see as a sustained rise in oil prices at these levels on the
Fed (the US central bank) and its chairman, Ben Bernanke,'
said Mr. Hewison.
FORBES
From The Chart Room - Google's Muddy Retreat
Adam Hewison, INO.com 11.27.07, 3:00 PM ET
Web site.
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LEARN & EARN
Another lesson "Point-and -Figure Charts"
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MONDAY EXCHANGE
Lindsay posts the question " Do You Know What Direction Your
Stocks Are Going?
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FOUR FREE ONLINE TRADING VIDEOS YOU CAN BENEFIT FROM TODAY
Here's a small sample of what is coming up on INO TV
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CHECK ON THE WORLD MARKETS 24 HOURS A DAY
Don't miss any of the global overnight action.
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PICK A MARKET, ANY MARKET
Use this really cool analysis tool and get instant answers
in plain English on any market. There is no cost.
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This is Adam Hewison,
have a great weekend and a profitable new trading week.
