Hello traders everywhere. Alibaba Group Holding Limited (NYSE:BABA) issued a NEW green monthly Trade Triangle on Tuesday (1/9/18) which means it could be time to go long the stock. Now, if you missed the alert or didn't see the Trade Triangle yesterday, the price action today has given you the perfect opportunity to enter the trade at a lower/better level on a bit of a pullback.
I believe that Alibaba is one of the more attractive stocks of 2018 based on the fact that it is the Amazon of the East, except it is growing faster and trading cheaper than Amazon. I look for Alibaba to produce another great year on the back of a truly impressive 2017 where we saw it produce an impressive 78% gain.
While most of the focus has been on the equity markets lately, the gold (FOREX:XAUUSDO) market has slowly been inching up. After making an all-time high close of $1904.92 on September 5, 2011 (see fig 1) the gold market then spiraled lower for the next several years. All that changed in 2016 when gold found a floor it liked and rallied to produce its first positive year since 2011, closing up almost 10% for the year.
Take a look at the chart, the dominant feature in this close only spot gold chart is the 6 yr downward trend line (see fig 2). This is a classic trend line and an important technical tool. The key elements of any trend line are that it touches three price points. The other key level to look at is where the downward sloping trend line will be broken on the upside. That will occur in this particular trend line when spot gold trades over $1300 an ounce. At that time I believe that gold will embark on a multiyear bull market. Continue reading "Is Gold Getting Ready For A Big Run?"→
Hello everyone, Adam Hewison here coming to you from the digital studios of MarketClub. Yesterday, the Barrick Gold Corporation (NYSE:ABX) had a major trend change to the upside signaled by a new green monthly Trade Triangle. It's the first buy signal ABX has had since it began its move on January 7, 2016. At that time the signal was it $8.33 and the market moved as high as $23 before pulling back.
Today I have put together five different charts that show why I believe Barrick Gold is headed significantly higher.
About This Stock
Barrick Gold Corporation (NYSE:ABX) engages in the exploration and development of gold and copper properties in the United States, Canada, Australia, Argentina, Chile, Peru, the Dominican Republic, Papua New Guinea, Tanzania, Zambia, and Saudi Arabia. It primarily explores for gold, copper, and nickel deposits. The company's main properties include Cortez, Goldstrike, Pueblo Viejo, Lagunas Norte, and Veladero. As of the end of 2015, ABX had proven and probable gold reserves of 91.9 million ounces; and 11.7 proven and probable copper reserves of billion pounds. Barrick Gold Corporation was founded in 1983 and is headquartered in Toronto, Canada.
In chart number one can see that Barrick Gold broke over a 52-month long-term negative force line (1) and moved as high as $23 a share (2) before pulling back 50% (3).
Call it the Trump Rally, or any name you like, but the stock market certainly came alive when the election swung in Donald Trump's favor. While all eyes are on equities, other things are going on in other markets that you should be preparing for.
Today, I'm going to take an in-depth look at the gold market that has been out of favor the last several years. Gold (FOREX:XAUUSDO) did enjoy a strong rally in the first half of the year and was a top performer. Since moving close to $1400 in July, gold has steadily eroded down to around the $1,180. The question now is, is gold going to continue on the downside or begin to stabilize and start looking forward to what could be an inflationary future? With that in mind, I decided to look at three market keys that could unlock gold and determine its future.
Long-Term Negative Force Line
FIG 1. I have drawn a long-term down sloping trendline starting from gold's all-time high of around $1900 and connected it to several other high points over the years. To be a valid technical trendline, it must touch three points. When that happens, it confirms the validity of the line. The long-term negative force line seen in FIG 1 is the dominant and number one element that will determine which way gold is headed in the future. I would consider a move over the $1375 - $1400 (3) levels on spot gold as a major signal that gold has changed direction to the upside. When this happens, and it will happen sometime in the future, gold will enter into a multiyear bull market. FIG 1 is the number one technical aspect for gold and should be watched closely in 2017.
How did you do the second quarter? Did you make money or did you lose money?
Well, I'm happy to report that the Internet Portfolio put in a very good performance in a very flat market. The portfolio showed a return of 5.67% which I think you'll agree is an excellent return for Q2.