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See EU Later - Brexit is for Real

Hello MarketClub members everywhere! The votes are counted and almost everyone got this one wrong, including the British betting shops. It's official - England is leaving the EU after 43 years.

I guess I was in the right camp when I posted this on June 14th.

The early reaction was the British Pound falling to its lowest levels since 1985 and stock markets around the world crashing. The one bright spot was the rush into gold which once again shot up over the $1300 level and seems poised to move to the $1400 level.

MarketClub's Mid-day Market Report

Indices: Looking at the major indices here in the U.S. this morning they are all going to be sharply lower and under pressure. [Read more...]

Welcome To What I'm Calling H*ll Week

Hello MarketClub members everywhere! Yesterday, we saw the news push the equity markets sharply higher. Unfortunately, the enthusiasm did not last the entire day and the markets fell off quite dramatically from the early highs. As I have been saying for some time, the markets are in a broad trading range and Brexit is just adding fuel to the type of range trading mentality.

MarketClub's Mid-day Market Report

I was interviewed by Reuters yesterday and they asked me what I thought of the markets and Brexit. I answered them in the only way that I could, saying that no one at this juncture has a clue as to whether England is going to remain in the EU or it's going to leave. There are of course pros and cons for both sides of this argument.

The younger generation wants to stay in the EU as it gives them more latitude to move to other countries and find work. The older generation wants to leave and get out from under the thumb of the bureaucrats in Brussels and also have Britain set its own immigration policies.

Like I said earlier, it's going to be a volatile week and polls are more likely going to drive the sentiment than common sense.

This comment just came in from a MarketClub member: [Read more...]

All Eyes On Brexit

Hello MarketClub members everywhere!

Make no mistake about it; the markets will all be obsessing about whether or not Great Britain will stay or leave the EU.

MarketClub's Mid-day Market Report

This morning all the markets are thinking happy thoughts and are rising as they think that Britain is going to stay in the EU.

The bottom line is no one has a clue if Great Britain will stay or leave the EU. The other crazy thing is no one has a clue as to what will happen if Great Britain leaves. As you can see, there is no clear cut path or idea as to what's ahead.

So here is what to do - I call it the "Desert Island" approach to trading. Let's say you were trapped on a desert island with plenty of food and water but with no news of any kind. The only news you could receive is stock and futures prices - could you trade on just that information? Before I answer that question, ask yourself this question, if you were looking back at a stock chart and back testing would you be looking at the news? The answer is probably not, you would be looking at price action and that is exactly what the market proven Trade Triangle's do every day.

The bottom line is price action make market trends.

One caveat - Black Swan Events [Read more...]

Where Will The Markets Stand After The Dust Settles?

Hello MarketClub members everywhere! Well, here we are at the end of another trading week and what a week it has been.

Gold (FOREX:XAUUSDO): As I warned members yesterday, chasing gold after 8 straight days of moving higher was not the best strategy. Yesterday's massive reversal to over the $1300 level just shows how important this psychological level has now become. In today's video, I will be analyzing gold and telling what you I believe to be the best strategy to follow given yesterday's action. Even with all the turmoil in gold this past week, overall it remains higher for the week. Last week July gold closed at $1273.90.

MarketClub's Mid-day Market Report

Indices: It's a mixed picture for the major indices with major positive trends still intact for the S&P 500 and the NASDAQ. The odd man out here is the DOW which is in a sidelines position at the moment. However, the week tells a different story with all of the major indices losing ground. Here's where the indexes closed last Friday. [Read more...]

What's Up With Pfizer And Gold

Hello MarketClub members everywhere!

Having been born and raised in Great Britain, I occasionally look at the British newspapers for a different viewpoint on world events. I was recently surveying some of the British newspapers for news on Brexit when I came across an interesting article on research that is being done in Great Britain on Pfizer's famous blue pill.

MarketClub's Mid-day Market Report

Pfizer Inc. (NYSE:PFE): The drug Viagra could soon be used to treat hundreds of thousands of heart failure patients and even prevent fatal heart attacks, say scientists. [Read more...]

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