Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Friday, the 22nd of March.
Z10 - Does BlackBerry Have The Magic To Come Back?
Today's the day that BlackBerry begins to market its Z10 smartphone in the US. It's interesting that BlackBerry chose today, as it is the 50th anniversary of the Beatles and the first James Bond movie. Both the Beatles and the Bond franchises have performed extremely well over the years. The question now is can Blackberry resurrect itself as a leading contender in the smartphone market? The US accounts for 20% of BlackBerry sales and this number either has to stay or grow from here. The key to BlackBerry stock is holding onto and growing its customer base. I think that's going to be an awfully hard challenge given the Android and Apple's iOS stranglehold on the US markets. Today we will be looking at the stock of BlackBerry to see just how well our Trade Triangle technology did in capturing the moves so far in this once shining star.
Tiffany Shines Again In Asia
Tiffany announced excellent sales today which surprised and exceeded many analysts projection. Most of the sales growth came from Asia and its growing demand for high-end iconic products in the fashion jewelry business. Today we will be looking into the stock of Tiffany using our Trade Triangle technology to see if the ride is going to continue its upward trajectory.
Gold Continues To Build A Base
The gold market continues to move sideways as it begins to build a base to perhaps move higher later in the year. The base building period could take several more weeks and perhaps even months before it's completed. We want to track this market very closely using our Trade Triangle technology, as our technology has been spot on in the gold market.
What's Going To Happen This Weekend In Cyprus?
At the beginning of this week, we all woke up to a disaster named Cyprus. None of the folks we talk with on a regular basis, who I consider to be extremely smart, had this Mediterranean island on their radar screen. This event is still shaking Europe and the world with the disastrous policies that it attempted to put in place and the total mismanagement of its banks. This out of the blue lightning bolt may be the first step of Cyprus getting booted out of the Euro zone. How that will affect the rest of the Euro zone remains to be seen. In my opinion, it's only a matter of time before we see the total disintegration of this mismatch of nationalities and countries under one currency fall apart.
A Good Weekend For A 52-Week High Trade?
Here are the three rules you need to trade "The 52-week new highs on Friday Rule"
These are the exact rules that at trader friend of mine used to make his millions.
* Rule #1: On a new 52-week high when the market closes at or close to its high on a Friday, buy and go home long for the weekend.
* Rule #2: Exit long position on the opening the following Tuesday.
* Rule #3: if the market opens lower on Monday exit this position immediately.
There you have it. These are the only three rules that you need to trade "The 52-week new highs on Friday rule" successfully.
The "The 52-week new highs on Friday Rule" works extremely well in futures and in Forex.
POTENTIAL CHAOS AHEAD
March 27th - Budget Resolution Expires (SOLVED - Maybe can kicked down the road until September)
May 19th - Debt Ceiling Suspension Expires
Have a great trading day,