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  1. #1
    Administrator Martin Kay's Avatar

    New Tips by Richard, Stock Markets Drift Lower17-24/12/2012 !!!

    Hi guys, the new weekly tips by Richard are here. Check it out!

    Originally posted by R.Cox. For the full trading breifing click here.

    Stock Markets Drift Lower as Fiscal Cliff Skepticism Continues

    Equity markets were range bound for most of the week as counterbalancing events kept investors from establishing large, market-moving positions. On the positive side were the manufacturing data releases out of the US and China along with the next injection of Quantitative Easing stimulus enacted by the Federal Reserve. But the fact that we were not able to see any meaningful pushes higher in stock markets is a clear indication that investors are skeptical with respect to the potential outcome for the US Fiscal Cliff negotiations.

    My Trading Recommendations in 50 words

    1.Last week’s gold trade was not filled, as market volatility continues to slow but I will open another order for weekly CALLS into 1680 on the dual argument that safe haven assets will benefit from any prolonged Fiscal Cliff Skepticism and from any Dollar weakness encouraged by Federal Reserve bond purchases. Gold will be one of the primary beneficiaries if the Fiscal Cliff outcome turns negative, so upside potential far outweighs downside risk.

    2. The USD/JPY has not seen much in the way of pullbacks recently but with prices still well below my year end target of 85, I will be looking to buy weekly CALLS on a move back to 83.20. Remain watchful of the outcome in Japan’s parliamentary elections and the next BoJ meeting, as the Yen is likely to trade off of official comments and policy statements, rather than near term economic data.

  2. #2
    Master Member vinayakm's Avatar

    Should be a tough week ahead. !!!

    Quote Originally Posted by Martin Kay View Post
    Hi guys, the new weekly tips by Richard are here. Check it out!
    Very good analysis! The calls on gold make sense, but for me it is more so because governments cannot 'print' gold. Gold speculators may want to be wary of the general sentiment of investors being generally bullish on the global economy for next year which has been confirmed by the positive Chinese economic data from last week. Additionally, most investors feel that the US fiscal cliff issue will be addressed before the end of this year.

  3. #3
    Senior Member Grae's Avatar
    Click image for larger version. 

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    USDJPY is a great watch. I am also cautious of the market thining.

  4. #4
    Senior Member Grae's Avatar
    Click image for larger version. 

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ID:	18Here is the Gold Daily trend going into 18th.

  5. #5
    Senior Member Grae's Avatar
    Quote Originally Posted by Grae View Post
    Click image for larger version. 

Name:	Gold17th.jpg 
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Size:	96.8 KB 
ID:	18Here is the Gold Daily trend going into 18th.
    Gold- Keep an eye on this for the reverse to 1735...

  6. #6
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by vinayakm View Post
    Very good analysis! The calls on gold make sense, but for me it is more so because governments cannot 'print' gold. Gold speculators may want to be wary of the general sentiment of investors being generally bullish on the global economy for next year which has been confirmed by the positive Chinese economic data from last week. Additionally, most investors feel that the US fiscal cliff issue will be addressed before the end of this year.
    Gold pulled back sharply today, moving deep into $1660's. With the pullback this deep there is a good chance that gold could stay at this level for a few days consolidating. If the new "plan b" unfolds, gold could keep slipping.

  7. #7
    Specialist Member RCox's Avatar
    The declines in gold was enough to trigger the trade entry but the drop below support at 1670 is not exactly encouraging. Any follow through here puts the trade at risk for the rest of the week.

  8. #8
    Specialist Member RCox's Avatar
    Quote Originally Posted by Grae View Post
    Gold- Keep an eye on this for the reverse to 1735...
    I was surprised by your picture at first, with the smaller graphic icon I actually thought you were using some Andrews Pitchfork analysis, which you don't see very often.

  9. #9
    Specialist Member RCox's Avatar
    The USD/JPY is moving higher after the drop to 83.60 but prices are still too elevated here to pull the trigger. A higher close today puts prices in reach of the end of year target, which is at 85.

  10. #10
    Senior Member Grae's Avatar
    Quote Originally Posted by RCox View Post
    I was surprised by your picture at first, with the smaller graphic icon I actually thought you were using some Andrews Pitchfork analysis, which you don't see very often.
    Very Interesting analysis- Andrew's Pitchfork. Had a look. You should pen a piece about it if you use it. Will definitely check up on it.

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