A premium member noticed social media, specifically Facebook enjoying some nice profits lately and wondered if it was due for a correction. Here's my response: FB has just ripped higher from my recommendation early this year; see green arrow. All of the lines on the chart (below) represent support zones. When a support zone gets violated the probability of further declines is high. So, when looking at the chart you can actually see your risk at these support zones. Facebook, Inc (FB) … [Read more...]
I Don’t Always Agree with Josh
I don't always agree with Josh, the reformed broker. This time I do. With the onus of retirement shifting from the employer to the employee we should encourage more people to understand the value of participating in the stock market. That should include tax deferred savings … [Read more...]
Don’t Try and Beat the Tape on News
Worldwide equity indexes continue to rise in spite of what some people think. Continue to hold. Interest rates have been falling all of 2017. Remember, the "experts" said interest would start rising early this year. Continue to hold TLT. The $US has been falling all year as well. Probably a reversion to the mean going on here. Not sure. Most likely going lower. I usually don't trade UUP but I follow the price action. Gold has been rising all year. I'm not interested yet. Energy has been … [Read more...]
Really quick note on stock and ETF settlement
Starting September 5, 2017 settlement will be two days after trade (T+2) rather than three days after trade (T+3). This just puts US and Canada on a more even scale with other nations. You don't need to do anything. Your money will just be available to you one day sooner. Trade Smart, Don … [Read more...]
Gold: Significant Breakout
Gold is on everyone's radar over the past few weeks. I'm watching it too. Price has recently broken above long term resistance, the downwards sloping white trend line for the first time in five years. That is significant. SPDR's Gold Trust (GLD) weekly I would be cautious at jumping in too early however. This could be a total head fake. If price starts closing above 132 I will become more interested. The stock market is trading very cautiously right now. We should follow … [Read more...]
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