Adam and Jeremy are back with special edition episode of MarketClub TV today at 1pm EDT.
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With the elections drawing closer and the first debate of the process tomorrow, we want to ask you...
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Adam
Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Tuesday, the 2nd of October.
Not to get too political, but I believe the markets are going to be in a holding zone for the next day or two waiting for the first presidential debate between Pres. Obama and Mitt Romney, that takes place on Wednesday.
Here's a question for you... Who, in your opinion, is more important? Pres. Obama, Mitt Romney, or Ben Bernanke?
From the market's point of view, I would have to say that Ben Bernanke is more important than either President Obama or Mitt Romney. Bernanke and the Fed are committed to pouring more money into the equity markets with their "QE3-print-more-money-and-to-H#ll-with-the-future-plan". I guess they figure that we can find another solution to the problem later … YEAH RIGHT!!
Equities based on the FED are still in a bullish phase and we have an upside target of $1,550 on the S&P 500 some time next year.
Most traders have written off the Euro, but our Trade Triangles are saying that we are in a bull market, at least for the moment, and the dollar is the one with the bigger problems.
Inflation Watch: Pressure is building on the Reuters/Jeffries CRB Index. Inflation will be arriving in 2013.
Wild Card: Without a doubt, the wild card for everything is the Middle East. We see no positives on that front.
Now, let's analyze the major markets and stocks on the move using MarketClub's Trade Triangle Technology.
Excerpted from the September 30 edition of Notes From the Rabbit Hole:
I often refer back to my first publicly written article (FrankenMarket Lives, 2004) because it simply stated the terms by which the stock market lives here in the age of Inflation onDemand, which was kicked off by Alan Greenspan in 2001 and is ever more aggressively managed to this day by his successor, Ben Bernanke.
From the article’s opening segment: "As we enter the summer of 2004 [fall of 2012], our markets appear to be moving with all the grace of Dr. Frankenstein’s creation, staggering forward, arms outstretched and seeking sanctuary [i.e. inflation]."
From the ending segment: "This market was stitched together with debt, and it will require more of the same to keep it going." Continue reading "FrankenMarket Lives (On)!"
Each week Lo
ngleaftrading.com will be providing us a chart of the week as analyzed by a member of their team. We hope that you enjoy and learn from this new feature.
Weekly Gold Report (October 1st through October 5th)
“Better late than never” comes to mind as I prepare this week’s Weekly Gold Report. Just as I sat down to capture the weekly chart for December Gold, the market erupted after another perfectly timed announcement from a US FED official.
After dismal news from the European Manufacturing sector overnight, a European Union Commissioner made upbeat remarks about Spain, followed by FED member Charles Evans stating that he would like to see “Operation Twist” continue past the December 2012 deadline and go on for another calendar year. The remarks from Olli Rehn in Europe and supportive comments from Evans in the US were enough to offset the worst Manufacturing number that Europe has seen in three months. Continue reading "Gold Chart of The Week"
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