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Weak

Today's Video Update: Z10, Tiffany, Gold and the Weekend Worry, Cyprus

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.

Two Stocks On The Move Today
DOLLAR GENERAL (DG)
ANACOR PHARMACEUTICALS (ANAC)

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,

Adam Hewison
President, INO.com
Co-Creator, MarketClub

Click Here to view today's video

Comments

  1. Earl E says:

    The cost of hiding money in Banana Republics may becoming more obvious. The ultimate losers are the honest taxpayers of the countries wherein the loot was generated. Further, the ECB (european cash bandit) is doing one hell of a job depleting the revenue providers of the world.

  2. Stefan Ohlinger says:

    The decisions made in Cyprus so far seems to be the right decisions. The decisions are unpopular, but in this case, it's a strong political sign, that despite the disadvantages and the uproar from the street, politicans are able to find solutions, that are necessary to prevent bancruptcy of Cyprus. The politicans give a strong sign to economy, that they are willing to change things, or at least that they are willing to make a self-made contribution to improve the situation.

    Wealthy customers benefited many years from more than average growth of their "savings" in Cyprus through low taxes, and hight interest rates, and probably also other beneficial effects. Showing strenght now, being on track with necessary, but unpopular decisions, will result in return of confidence on the long run.

  3. Rasesh Shukla - India says:

    Dear Friends,

    Considering Index movements of different countries of the world, I found some strange observations like:

    Indices of Developed countries like US, UK, Canada Germany, France, Australia etc. and even under developed countries like Pakistan, Indonesia etc have either crossed there earlier crossed or reached nearby, to highest level of 2007 – 2008, and formed or going up towards “All Time High”

    On the other hand, PIGS and other problem facing Countries have mixed but mainly down trend. Excepting China, BRICS Countries have also mixed but Up trend however they have not Crossed History High level, however, surprisingly China, Hong Kong, Korea, believed as “Strongest Economy “are Far bellow their higher levels, and not only that, no significant or remarkable up-word Movement found in there indices.

    With a view to all above, it may presume that current Bull Run is not based or supported by Real Recovery or turn around, but simply a reflection of “Currency weakness” or Inflation effect driven.

    Our Economy is also facing Sevier inflation and decreasing currency valuations, so considering all that, we can assume that As far as Nifty and Sensex are concerned, to full fill certain Technical or Chart based Requirements, indices may go down further, but after touching some short term inter mediate lower marks of around 5425 or nearer to that, full chances are there to find new “All Time High” and that too, in a much faster way, however, subject to condition that if it will get bounce from that lower level, and sustain at list for three days, situation will be clear in a fortnight period…..no more awaiting…..

    Rasesh Shukla

  4. Stefan Ohlinger says:

    I guess, that the pressure on Cypus will force them to find a solution, including the participation of a cut of savings. It's a contribution of the citizens of Cyprus to the preservation of the rest of the financial sector. Shareholders on Cyprus banks have lost their investments mainly anyway.

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