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  1. #1
    Administrator Martin Kay's Avatar

    Hot Tip from the Geek - SP500, Gold, USD/JPY Weekly Expire - 05/20-27/2013 !!!

    Hi guys,

    The new Top Five Tips of the week from Michael are here!
    The stock markets continue their way higher and there is no sign of correction yet. The DAX is at all time highs and the Nikkei is at five year highs and climbing. Check out what are the best tips to trade this week from the Michael’s review.


    Originaly posted by Michael Hodges.

    S&P 500 Is Bullish In Three Time Frames

    S&P 500
    Call/Put = Call
    Entry = Below 1670
    Expiration = 1 week

    Anyone who is familiar with my style will know that I put a lot of faith in multiple time frame trading. Confirming a trade on more than one chart is the best way I know to create consistently profitable trades. At this time the S&P 500 is showing a buy signal in all three time frames I regularly watch so I am definitely in the call buying business this week. Since I like the signals on the daily charts better this is the one I will trade. I am trading a call with an entry below $1670 and a 1 week expiration.

    The good thing about this convergence of time frame signals is that it will provide many shorter term signals over the next week or two. So long as the one week charts show a rising market any buy signal on the daily chart can be taken. Likewise, when the daily chart is showing a current signal any buy signal that appears on the hourly charts can be taken. The important thing to note is that as you move down in time frame you need to shorten your expiration. Signals on the hourly charts should have no more than 1 day to expiration.


    Gold Turns To Rust

    Gold
    Call/Put = Put
    Entry = above $1350
    Expiration = 1 week

    Gold is in the hands of technical traders, short sellers and bears. The metal is trending down and looks more than likely to retest the recent lows around $1325. The long and short term technicals are bearish and indicate that a break below $1325 could happen. I am trading puts on gold with a target entry above $1325 and a 1 week expiration.


    Yen May Have Depreciated Enough

    USD/JPY
    Call/Put = Put
    Entry = Above 102.50
    Expiration = End of the week

    I was shocked this morning when I heard Rick Santelli report that a Japanese official stated the yen may have depreciated enough already. There were also other reports, after a little digging, quoting other policy makers on the concern over the yen’s steep fall. My bearish position last week was not out of place, just a little too early. I am taking the same position this week with an altered entry. I am trading puts on the USD/JPY with a target entry above 102.50 and an end of the week expiration.

  2. #2
    Senior Member LeeChang's Avatar
    Nice predictions Michael. As always the big Stock market Bull of our Community will probably book some profits this week from the SP500 : Gold will be a risky trade, USD/JPY has a good potential. EUR/USD put is also risky in my opinion and JPM call is a high probable success. I wish you good luck with these trades and a lot of money to book this month!

  3. #3
    Legendry Member Michael Hodges's Avatar
    so far so good. The spx and JPM are both performing well, the currency trades are still in limbo-the BOJ announcement today and the ECB announcement tomorrow should help those two trades. As for gold, I am worried about this one but they can't all be winners. I still think gold is headed lower but maybe not this week. Oh well.

  4. #4
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by LeeChang View Post
    Nice predictions Michael. As always the big Stock market Bull of our Community will probably book some profits this week from the SP500 : Gold will be a risky trade, USD/JPY has a good potential. EUR/USD put is also risky in my opinion and JPM call is a high probable success. I wish you good luck with these trades and a lot of money to book this month!
    Be sure to check out my trades on Communitraders! I have entered all my tips into my CT account and so far I have been moving up the ranks of the leader board.

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