Today's Video Update: Are You Planning On Buying An Electric Car?

Hello traders everywhere! Adam Hewison here, President of and Co-creator of MarketClub, with your mid-day market update for Friday, the 17th of May.

Tesla Soars As Excitement Builds For Electric Cars
This week, Tesla Motors (NASDAQ:TSLA) soared as investors rushed into buying shares of America's only electric car company. Shares of Tesla jumped 19.72% for the week as of this writing and are closing in on new high ground. Of course, this must make Elon Musk and investors in this stock very, very happy. You may want to take a look at my earlier video on Tesla (NASDAQ:TSLA) here.

Gold Loses Big Time This Week
The price of gold plummeted this week with losses of over 5% as investors jumped out of this once precious metal and into US and Japanese stocks. If gold closes where it is currently trading at $1,363 on the spot market, it will represent a new low weekly close for the year. Such a close would indicate further downside pressure for this metal. Technically, we cannot rule out a test of the $1300 level.

Watch Today's Video Update Here

Did You See LULU?
You can watch it here.

Apple Is No Longer Cool 🙁
It looks like the mojo has changed for Apple (NASDAQ:AAPL). In a recent survey, 71% of investors said that Apple has lost its innovative edge. That viewpoint was largely reflected this week in stock prices with Apple closing down over 4%. Google (NASDAQ:GOOG) on the other hand, ended up closing up 3.3%, a changing of the guard perhaps. The trend is clearly positive for Google and sideways to lower for Apple.

Everybody Wants US Dollars!
For this past week, the US Dollar has proven to be the currency of choice. Most other currencies lost ground in active trading. For the week, the Dollar gained 1.3% against the Euro, 1.3% against the Japanese Yen, and a whopping 2.8% against the Aussie Dollar. I see these trends continuing and would not rule out setbacks, but the trend is clearly established in favor of the US Dollar right now.

The Stock Market Makes New Highs - So What Else Is New?
In spite of all the Washington wrangling over the IRS, Benghazi and the FBI, stock market managed to put in a solid performance for the week. The S&P 500 is closing up 1.4%, the NASDAQ a similar amount of the DOW with a gain of just over 1%. As I have said before, standing in front of the train or catching a falling knife in the market is not a good idea right now. The old adage of "sell in May and go away" may still work, but I wouldn't count on it. I would only count on our Trade Triangle technology to tell us what is going to happen.

Watch Today's Video Update Here

Have a great trading day,
Adam Hewison
Co-Creator, MarketClub

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Adam appears frequently on the following financial news channels as a guest expert. Click on any cable logo to watch Adam's latest appearance.

2 thoughts on “Today's Video Update: Are You Planning On Buying An Electric Car?

  1. About the Tesla Car. I don't know why it is so difficult to build an electric car unless the powers that be, the oil companies, are fighting it. In '98 GM made the EV-1 an electric that could go, with the new lithium batteries, almost a hundred miles on a plug-in charging. They were leasing them to movies stars like Tom Hanks and Mel Gibson for a promotional and everybody loved them. The going price was to be $12.500 but the sales never happened because big oil got scared and with the Bush Administration coming in they took them all back and scrapped them. There was a massive demonstration outside the lot where the last thirty or so cars were impounded but the scrapping continued.
    See the video, "Who Killed the Electric Car." Note, this was the major reason why Obama forced CEO Wagoneer of GM to resign and one of the few things that I approved of in his administration. The Tesla can go 0 to 60 in some incredible speed but who the hell cares about that? All we need is a car that can do with the EV-1 did in '98, go at the speed limit here and there short distances and charge at night.

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