GOLD ALERT: Daily “Trade Triangle” signaled an enter long gold position today for short-term traders at $1,250.35. Spot gold is currently trading at $1,265.28. Intermediate and long-term traders remain long gold.
Author: The INO.com Team
"52-week Friday rule" success
One of the trading strategies that Adam talks about the most is the "52-week Friday rule.” In case you missed Adam talking about this powerful strategy, you can re-visit the video by clicking here. Today we received an email from MarketClub member Glen C. who shared with us how this rule paid off for him:
"I am still very new to trading and I decided Friday 10 Sep to check out the High 52 Week Friday rule. When I did the smart scan RMCP jumped at me, and I studied the chart and saw a spike starting at 2:46 @ .98 and closing at 4:00 @ 1.27. I was curious as to the reason for the spike and did news research that showed a very large Federal contract had been awarded RMCP for medical supplies and software. Figuring that this was late breaking news, and that the tide would continue on Monday I purchased 1000 shares @ 1.29. The kickoff this Monday morning was @1.30 and I watched it go all the way to 1.69 and fluctuate during the day. Figuring that the 1.69 was a decent profit, I set my stop there and sure enough it was met at 2:42 when it went to the day's high of 1.71. My profit for this one trade was over $380. So my recommendation is that if you see a spike on a 52 Week High on Friday, and you can determine the reason, you may be surfing the wave on Monday. Thank you Market Club for such great tools as smart scan and the High 52 Week Friday Rule."
Every success,
The MarketClub Team
Gold Alert!
GOLD ALERT: Daily “Trade Triangle” signaled an exit long gold position today at $1,244.53 for Short-term traders. Intermediate and long-term traders remain long gold.
Will Obama's plan help the economy?
In an effort to promote economic recovery, President Obama is proposing tax relief to encourage small business spending. He also wants to spur job growth by investing millions in America's infrastructure. If his plan makes it past congress, will it be the boost the US needs?
Loading ...Also, let us know what, if any impact on the market his proposal will make should it pass.
We'll see you on Tuesday!
It's official, summer is winding down and nothing makes that more evident in the states than the long Labor Day weekend.
The markets will be closed on Monday and so will INO.com and MarketClub. We hope that you enjoy the 3 days off or maybe even use them to get ready for the full-swing fall trading season. It's a perfect time to reassess your trading plan and make necessary changes to get you on the right path for the last quarter of 2010. As always, we invite you to use Adam's game plan which is downloadable by clicking here.
Enjoy the holiday and we look forward to seeing you on Tuesday.
Best,
The MarketClub Team
