Tag: fibonacci resistance

Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Wednesday, the 12th of October.
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HARRISBURG, PA — SEEKS BANKRUPTCY! Is America Next in Line?

It's not difficult to believe that Harrisburg Pennsylvania is filing for bankruptcy with overwhelming debt of almost half $1 billion. It shows once again that politicians have no clue when it comes to spending money, particularly when it's someone else's money.

The question we must all ask ourselves is what's next? In our home state of Maryland we have $20 billion unfunded liability for entitlements. I'm sure it's the same across the country. We have had reckless politicians spending too much money and not being held responsible for when things go wrong. It was interesting to see what was happening in the Ukraine, where they're jailing their former prime minister, Yulia Tymoshenko, to a seven year jail term for abuse of power during term as prime minister.

Just imagine how that would play out in other countries, including the United States. It certainly would make politicians think before committing and spending money that we don't have. At the moment, no one is held responsible.

It also looks like the politicians in the Euro Zone have kicked the can down the road. This just moves the financial disaster to future generations. No one politician wants to assume responsibility for the incredible amount of future debt they are creating.

What does this all have to do with the markets?

We will rely on our Trade Triangle technology to keep us in the loop and in the markets at the right time.

Now, let's go to the 6 major markets we track every day and see how we can create and maintain your wealth in 2011. Continue reading "HARRISBURG, PA — SEEKS BANKRUPTCY! Is America Next in Line?" →

Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Tuesday, the 11th of October.
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Slovakia, Slovakia, Slovakia

It would appear that this little country in Europe holds the key to either economic disaster or economic enslavement. The entire country of Slovakia has a population of a little over four million people and a workforce of maybe two million people. These two million people are now being asked to shoulder the debt burden of $5 billion as their share of the European recovery program. That does not seem fair to me.

This tiny country has a better GDP growth rate than the United States. It also has a population that is 99% literate. And I heard this morning, their tax rate is 19% for individuals and 19% for corporations, and the country is thriving in relative terms. Maybe we can all learn something from how this country is run.

GDP (2010 est.): $88.4 billion.
GDP growth rate (2010): 4.0%.
Nominal GDP per capita (2010): $16,288 (ING Bank).
Unemployment (2010): 13.5%.
Consumer price inflation (2010): 1% (Ministry of Finance).
Public deficit (2010): 7.8% GDP.

Now let's go to the markets we track every day and follow with our Trade Triangle technology. Continue reading "Slovakia, Slovakia, Slovakia" →

Hello traders everywhere!  Adam Hewison here, co-founder of MarketClub with your mid-day market update for Friday the 7th of October.
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It's Friday, the end of the week, and the markets have made some remarkable recoveries in the last several days.  As we discussed yesterday, has this market put in a bottom?  Unless it's a complete breakdown this afternoon, it would appear the markets are going to close higher for the week.

Cyclically if we close lower today in the equity markets and in crude oil, it would appear we have put in an interim top in both those markets.

Let's do a reality check...  Have any of the problems in Europe gone away?  Has all the uncertainty and doubt surrounding the banks in this country with the foreclosure and mortgage problems gone away?  No, they all still exist and that is why the longer-term trends in these markets continue to be negative.

I would say if the markets close lower today, you will want to maintain any short positions you have, and possibly add to those positions.  We will be looking at the charts to get a clear picture to see exactly what is going on.

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2 STOCKS THAT ARE MAKING 52 WEEK HIGHS:
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CEPHALON (Symbol CEPH) - Trade Triangle (Monthly) Long from $80.80 on 9/08/11.

SEATTLE GENETICS (Symbol SGEN) - Trade Triangle (Monthly) short from $21.15 on 10/05/11.
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2 STOCKS THAT ARE MAKING 52 WEEK LOWS:
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UNITED STATES NATURAL GAS (Symbol UNG) - Trade Triangle (Monthly) Long from $80.80 on 9/08/11.

ILLUMINA (Symbol ILMN) - Trade Triangle (Monthly) short from $65.41 on 7/27/11.

HOW TO TRADE THE 52 WEEK FRIDAY RULE:

Here are the three rules you need to trade "The 52-week new highs on Friday rule"

These are the exact rules that Bill used to make millions

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

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

Rule number 3: If the market opens sharply lower on Monday, exit the position immediately.

There you have it. These are the only three rules you need to trade with "The 52-week new highs on a Friday rule" successfully.

"The 52-week new highs on a Friday rule" works extremely well in futures and in the Forex markets. This rule can be reversed for "The 52-week new lows on a Friday rule" if you are so inclined to trade the short side of the market. The same rules apply.

Now let's go to the 6 major markets we track and update every trading day and see how we can create and maintain your wealth in 2011. Continue reading "As We Discussed Yesterday, Has This Market Put In a Bottom?" →