Chart to Watch- DTLK

Posted on by The INO.com Team

We've asked our friend Jim Robinson of profittrading.com to provide his expert analysis of charts to our readers. Each week he'll be be analyzing a different chart using the Trade Triangles and his experience.

Today he is going to take a look at the technical picture of Datalink Corporation (NASDAQ_DTLK).

I hope you are having a GREAT week !!!

DTLK has set up a possible MarketClub Trade Triangle opportunity, so let's take a look at what is going on with DTLK in this week's Chart to Watch.

MarketClub put in a monthly green Trade Triangle on 11/05/12 and the monthly Trade Triangle is still green which means the longer term trend is still up as of right now.. Continue reading "Chart to Watch- DTLK" →

Today's Video Update: The Law of the Market

Posted on by The INO.com Team

Hello traders everywhere! Adam Hewison here, President of INO.com and Co-creator of MarketClub, with your mid-day market update for Thursday, the 11th of April.

Adapt or Die - That is the Law of the Market
As a trader, you must learn to adapt to changing conditions in the market, otherwise you are not going to be successful. The current rally in the DOW (DJI) and the S&P 500 (SP500) is a case in point. Maybe the fundamentals are not there to support the kind of valuations we are seeing, but that is not the most important element to consider when you look at the markets. If you were only looking at the fundamentals, you would have missed this entire move to the upside. The trend, sentiment and perception of what the market is going to do is very important, and right now for better or worse, the market is heading higher. Markets tend to trend in the direction of least resistance and right now that trend is on the upside.

There also appears to be a complete disconnect between Washington, Wall Street and Main Street. The feedback from Main Street, which is still underwater, is not that good and I think everyone would agree Washington is totally dysfunctional. Wall Street appears to be in its own universe, ruled by Chairman Bernanke and supported by the Fed, to the tune of $85 billion every month. Providing the Fed fix continues, we are likely to see the market continue its upward trend. Continue reading "Today's Video Update: The Law of the Market" →

Markets solid after drop in U.S. jobless claims

Posted on by The INO.com Team

The mood in financial markets remained fairly buoyant Thursday after an improvement in weekly jobless claims figures in the U.S. and as the main Wall Street stock indexes eyed new highs.

On Wednesday, both the S&P 500 and the Dow Jones hit all-time closing highs, giving a positive tone to trading in Asia and Europe.

A 42,000 drop in weekly U.S. jobless claims to 346,000 maintained the mood as U.S. trading got underway again. The surprisingly big fall came after a run of disappointing jobs figures that had raised concerns over the pace of the U.S. economic recovery. Continue reading "Markets solid after drop in U.S. jobless claims" →

Obama budget: Spending cuts, higher smokers' taxes

Posted on by The INO.com Team

Mixing modest curbs on spending with tax increases reviled by Republicans, President Barack Obama proposed a $3.8 trillion budget on Wednesday that would raise taxes on smokers and wealthy Americans and trim Social Security benefits for millions.

Obama's 2014 blueprint combines a $242 billion infusion of new spending for road and rail projects, early education and jobs initiatives  all favored by Democrats  with longer-term savings from programs including Medicare and the military. It promises at least a start in cutting huge annual federal deficits.

The president pitched his plan as a good-faith offer to his GOP rivals since it incorporates a proposal he made to Republicans in December that wasn't radically different from a GOP plan drafted by House Speaker John Boehner. But it follows January's bitterly fought 10-year, $600 billion-plus tax increase that has stiffened GOP resolve against further tax hikes. Continue reading "Obama budget: Spending cuts, higher smokers' taxes" →

Minutes show Fed backs stimulus through midyear

Posted on by The INO.com Team

A majority of Federal Reserve policymakers want to continue extraordinary bond purchases to help boost the economy at least through the middle of the year, according to minutes from the Fed's last meeting released Wednesday.

But many members indicated they want to slow and eventually end the program soon after that, as long as the the job market and economy show sustained improvement. The Fed's purchases of about $85 billion a month in Treasury and mortgage bonds are intended to lower long-term interest rates and support more borrowing and spending.

The minutes of the Fed's March 19-20 meeting were released at 9 a.m. EDT  five hours earlier than planned after the Fed inadvertently sent them a day earlier to congressional staffers and lobbyists. Continue reading "Minutes show Fed backs stimulus through midyear" →