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The Big Party Get Together At Jackson Hole

Hello MarketClub members everywhere. World bankers met at their August retreat this past weekend in Jackson Hole Wyoming and I am convinced that this is just party time for the bankers and a waste of money as nothing was resolved. There is a reason why nothing was resolved at this meeting and that is because the Fed headed by Janet Yellen has no clue about what to do with the U.S. economy. I have been harping on this for the past several years and believe the Fed is up the creek without a paddle and clueless about what to do. All this after printing trillions of dollars. Remember Helicopter Ben throwing money everywhere? That is Ben Bernanke the former head of the FED; his thesis was to do everything the opposite of the great depression when money was tight. Looks like it didn't work out too well for you Ben.

MarketClub's Mid-day Market Report

We live in a capitalistic economy, at least that is what they tell me and a capitalistic economy has boom and bust cycles. It is impossible for a capitalistic economy to stay even and smooth.

The only way I can see the Fed making its way out of this remarkable self-made disaster is by inflating the economy. That would take the onus off them and help stimulate businesses and production.

Is that likely to happen? At this point, your guess is as good as mine. As I stated earlier, the Fed is like a deer in the headlights and their actions are frozen in time. Plus, the FED is all out of options.

Enough said!

Let's begin today by looking at the major indices and where they are currently trading. [Read more...]

Is It Time To Buy Gold Or Equities?

Hello MarketClub members everywhere. It has been an interesting week, to say the least. The sharp drop in gold caught many traders off guard, but not MarketClub members who were warned based on the Trade Triangles and my video on Wednesday that the sidelines were the best position to have at the moment.

MarketClub's Mid-day Market Report

The question is, should you buy gold now? The answer will be if you are long-term trader it may be a good time to be a buyer, if, on the other hand, you are an intermediate or shorter-term trader it would be best to wait until a green weekly Trade Triangle triggers to be a buyer of gold.

The next question is, should you be buying equities? [Read more...]

Quiet Markets Come With A Message

And the message is "You never sell a quiet market". That is one of those old market adages that has been around forever and for a reason. We'll see what that reason is after Labor day.

The dog days of summer are dragging on as we come to the final five trading days of August. Besides the Italian earthquake a real tragedy, not a lot happened overnight in the markets. This brings me back to quiet markets which we now have, and it appears that they are just biding their time before something happens to get them moving again.

MarketClub's Mid-day Market Report

Indices: All three of the major indices have all of their Trade Triangles in a positive green mode indicating that a strong trend is still in place for each index. Even though each of these indices has been quiet, it does not change their positive long-term trend. I continue to see this group of markets moving higher. [Read more...]

Just 10 More Trading Days

Hello MarketClub members everywhere. It would appear as though the markets have gone to sleep or have been mesmerized by the summer Olympic Games. I believe going to come to an end in just 10 more days as we officially say goodbye to summer. After Labor Day I expect we will see more volume and more direction in all of the markets.

This time of year reminds me of how the markets behave after the 15th of December when most traders check out for the year. If you have not made your money by 15th of December, the odds are against you making it in the last two weeks of the year. The keyword right now is patience, patience, patience.

MarketClub's Mid-day Market Report

The way to look at the markets when they move into a doldrum period like we are in now is to look at the big trends before we entered into this quiet period as the odds once again favor a resumption of the major trend. It doesn't always work out that way, but if you're betting with the odds, it is the way to go.

Here are the major trends for each of the major markets according to the Trade Triangles. [Read more...]

And The Big Winner This Week Is

Hello MarketClub members everywhere. It's Friday and the big winner for the week is Crude Oil which is up 8.34% for the week and in turn my recommendation to buy Kinder Morgan Inc. (NYSE:KMI).

MarketClub's Mid-day Market Report

Looking at the major indices here are the changes so far this week (Thursday Closes): [Read more...]

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