Tag: greece debt

Watch The Close In Gold Today

Posted on by The INO.com Team

Hello traders everywhere!  Adam Hewison here, co-founder of MarketClub with your 1 p.m. market update for Friday, the 22nd of July.

As we go into this Friday, equities appear to be higher for the week as do gold and silver.  That is quite a conundrum!

The lack of any decision out of Washington DC continues to be an embarrassment for most US citizens.  It would appear the folks in Washington DC are more interested in keeping their jobs than doing what's right for the country.  I get the sense that there's a deep and growing anger across this great land that revolves around DC's failure to come to a debt resolution.

Never have so few ideologues been in control of the lives of so many people.  It is pathetic to see, in my humble opinion.

We will want to watch the close in gold today.  A close over $1,603 in spot gold would represent a new high close for this market, which would underscore the gravity of the financial system.

Now, let's go to the markets and see how we can protect and grow your money in 2011.

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Stocks Trading Higher Despite The Nagging Unemployment Problem

Posted on by The INO.com Team

Hello traders everywhere!  Adam Hewison here co-founder of MarketClub with your 1 p.m. market update for Thursday, the 21st of July.

Stocks traded higher for the day despite the nagging unemployment problem here in the US.  This week marks the 15th week in a row that jobless claims for unemployment benefits have been over the 400,000 mark.  This is not exactly great news for the White House.

A second bailout for Greece seems to be finished and a done deal.  Does that mean the first bailout didn't work?  Does anyone in Europe really think that this second bailout is going to work?  There's no way the Greeks can or will  pay back these loans, of that I'm pretty certain.

Our Trade Triangle technology scores again as we have been long equities based on this technology for quite some time.  It proves that you don't have to read the news, you don't have to listen to news and you don't have to catch the latest rumor to be a winner in the market.  The market tells you what it wants to do, all you have to do is have a program like MarketClub's Trade Triangles to point the way!

Now, let's go to the markets and see how we can protect and grow your money in 2011.

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A Buying Opportunity For Gold and Silver?

Posted on by The INO.com Team

Hello traders everywhere!  Adam Hewison here, co-founder of MarketClub with your 1 p.m. market update for Wednesday, the 20th of July.

Right after we had finished our 1 PM update, the President came on TV and indicated that the gang of six had come to some magical debt agreement.  That was all that was needed to rally the equity markets and push down the price of gold and silver.  Let me just say this, it's not a done deal until it's a done deal and I don't think this deal will get done.

The action in gold and silver today and the fact that they are both higher on the day right now, indicates that yesterday was probably a buying opportunity in both of these metals.

Let's just recap what has really happened.  Nothing has changed, we still have major, major debt problems ahead of us.  As I mentioned in yesterday's 1 PM update, I wanted to see how the markets closed for the day.  I think today is going to be even more important, as we are in the middle of the trading week and we still have the potential for a lot more news to come out.  Last week we closed at 1316 on the S&P 500 and for the month we closed around 1320.  We'll be watching to see if the S&P 500 will keep its upward momentum or have another push down to the 1300 level.

Now, let's go to the markets and see how we can protect and make your money grow in 2011.

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The Bulls Battled Back Today!

Posted on by The INO.com Team

Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your 1 p.m. market update for Tuesday, the 19th of July.

The Bulls battled back today and forced many of the Bears to cover their short positions in the equity markets. However, nothing has changed, nothing has been resolved, and we still have the same unresolved debt problems.

Gold and silver continue to hold well and look to be purchased on pullbacks from current levels. Crude oil popped to the upside today and remains in a broad trading range with no clear-cut direction.

All in all it's been a pretty boring session so far on a Tuesday. What I really want to see is how these markets close today, and more importantly, how they close for the week. If we have a lower close for the week in the equity markets we would consider that to be an early sign of a potential bear market.

Now, let's go to the markets and see how we can protect and make your money grow in 2011.

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I Was Thinking This Weekend...

Posted on by The INO.com Team

Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your 1 p.m. market update for Monday, the 18th of July.

Well, Monday is here and we are no closer to solving the debt problem than we were last week. Europe is still a disaster and that's been reflected in the bank stocks today.

I was thinking this weekend... If everybody moved out of Greece, what would happen to the debt and who would pay it? I know it sounds weird to say, but the reality is with the euro zone you do have the freedom to work in other countries.

The world has changed, yet the politicians still think it's the same game. In the world of the Internet you can be based practically anywhere that's advantageous to you. In an example like Greece, which is so far underwater it seems they are never going to be able to bail themselves out... Why not just walk away from the debt? One could stand to reason that most well educated Greeks have the mobility and the language power to move to other countries in the euro zone and work.

Today's markets reflect what I was saying all last week in regards to the bank stocks which are under tremendous pressure today. BAC is down over 3% and other bank stocks don't look much better.

Gold and silver moved dramatically high today with gold topping the $1,600 an ounce level before some profit taking came in to the market. Silver is up close to 3% as I write this, and is moving higher and faster than gold percentage wise. So let's take a look at these markets in more detail and workout some target zones for gold and silver, as well as the banks.

Now, let's go to the markets and see how we can protect and make your money grow.

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