Yearly Archives: 2011

Gold Retreats and Targets Key Technical $1,535 level

Apologies to my followers for I have been actively trading and unable to post my daily commentary.  December volatility means increased surveillance on Europe, key price levels, and geo-political speeches, which unfortunately results in not enough time to write.  

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Alcoa’s Continued Weakness May Find a Bottom

Alcoa, the world’s largest producer of aluminum, is one of this year’s worst performing stocks in the Dow Jones Industrial Average.  Currently riding a six-day declining streak, a falling price of aluminum, growing fears of further loss of demand for

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Oil Could See a Further Pullback

A stronger U.S. dollar triggered West Texas Intermediate crude oil to trade lower along with other commodities.  After making a top last week at $99.69 a barrel, price action has reversed and currently breaking down below a long-term uptrend support

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Commodities Rise, While We Wait for Europe

Continued economic uncertainty regarding a final European solution towards supporting banks and the leveraging of the European Financial Stability Facility (ESFS) to mend the European debt crisis, did not prevent the euro from maintaining its strength over the U.S. dollar.

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Why is the Euro Strong? Nevermind, Gold is the play!

Is the euro stronger because the financial markets really believe the expansion of EFSF will bring stability to the eurozone? Do the financial markets feel that a structured Greek default will allow the markets to move on?  Will the fear

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BAC Bullish ABCD Pattern on 60-minute chart

A bullish ABCD pattern just formed on Bank of America’s 60-minute chart.  If valid, price action could see a test of the $5.92 level.  If further downside momentum continues, key support will lie at the $5.30 area.

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Gold Approaching Key Resistance

Gold is higher for a third consecutive day, after investors returned to the safe haven currency on news that Greece will miss their deficit targets. The recent rally is facing critical resistance at the $1.680.00 level, and the 200 period

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Will This Rally Last?

Late in New York, U.S. stocks pared earlier gains after stronger than expected U.S. statistics and the passing vote of the expansion of the European Stability Facility (EFSF) by the Bundestag, Germany’s parliament.  Euro strength to the dollar was capped

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USD/JPY Poised for a Correction

Long term bets on U.S. dollar against the Japanese yen learned a valuable lesson after the close of U.S. trading session on March 16th.  A historic 25-minute stop run which occurred after 5:00 p.m. EST had the U.S. dollar fall

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Serious Downside Risk Remains

The ominous skyline of New York provides the perfect backdrop for Wall Street.  This week has damaged several hedge fund accounts, confidence in the stock market, and hopes for a recovering global economy. The two key themes this week were

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