Shocking News From Amazon And Google

After the bell yesterday, Inc. (NASDAQ:AMZN) announced, to the surprise of many, that they made a profit. That, of course, is good news if you were long their stock. The Trade Triangle technology got this one wrong, but also got it right as well, let me explain.

Prior to Amazon's earnings announcement, the Trade Triangles were on the sidelines having received a signal to cover any short positions on January 23rd at $314.75. While the Trade Triangles missed the big 10% up-move in after-hours trading yesterday, it certainly did not cause any harm either. Not getting caught wrong-footed in the market is an important element to successful investing. Or to use Warren Buffett's number one investment rule: #1. Do not lose money. His second investment rule is: #2 Do not forget rule number one.

Jeff Bezos, the chief honcho at Amazon and its driving force, decided to hold back on some some of his expansion spending and give investors something to smile about while placating the street, which was beginning to think that Amazon would never make money. Continue reading "Shocking News From Amazon And Google"

Were The New Market Highs A Bull Trap?

On Tuesday we witnessed the S&P 500 and the DOW make new all-time highs. What is the significance of this? If you've been following my work and reading our comments then you're probably familiar with the 52-Week New Highs on Friday Rules which go like this:

Rule #1: On a new 52-week high, when the market closes at or close to its high on a Friday, buy and go home long for the weekend.

Rule #2: Exit the long position on the opening the following Tuesday.

Rule #3: If the market opens lower on Monday, exit this position immediately.

Since making their highs on Tuesday, the DOW and S&P 500 have been steadily moving lower and are in danger of closing lower for the week. Doing so would create a "negative engulfing line." A "negative engulfing line" or "bearish engulfing line," as it is some times called, is when the market price action engulfs the previous open and high period for the preceding week or day. If this turns out to be the case for the DOW and S&P 500 and this coming week they both close lower for the week, then the odds are pretty high that a top is more than likely in place. Continue reading "Were The New Market Highs A Bull Trap?"

In case you missed last week's webinar...

... We have posted it on the Trader's Blog for you.

Last week's Technical Trading Strategies webinar is now available to watch "on demand" along with all of MarketClub's previously recorded presentations.

Like all of our videos, our webinars are available to watch at no cost and without the need to register.

Click here to watch MarketClub's Technical Strategies Webinar

Click here to view all of MarketClub's Webinar Archives

The MarketClub Team

Did you know...

... that you can see upcoming MarketClub webinars as well as all of MarketClub's webinar archives all in one place?

MarketClub Webinar Schedule & Archives

Are you interested in attending MarketClub's next webinar?

Join us this Thursday, February 10th for MarketClub's Technical Strategies Webinar.

Join Adam as he covers several technical trading strategies including: the 52-week high on Friday rule, using Donchian Channels in a sideways market, using the "Trade Triangles" and MORE!

Whether you're looking to enhance your current strategy or implement a new one, this presentation will cover all bases. As always MarketClub's webinars are completely free, but registration is limited.

Click here to sign-up now!

We look forward to seeing you there,

The MarketClub Team

Chalk up another big winner for the weekend rule

We have blogged about this before, but this past weekend in gold the 52-week weekend rule worked perfectly.

You would've bought gold on Friday's close in basis spot gold at $1,393 and change. You would've exited this position today at $1,416 and change for a profit of around $23 an ounce.

If you would like to find out more about how you can use this rule in the future, not only on gold but in other markets as well, here's the link.

All the best,
Adam Hewison
President of
Co-founder of MarketClub