By the end of the day, money has to go somewhere. For this week, there was a rush of money flowing out of the U.S. Long Term Treasuries and into Gold. Gold closed at approximately $900 which is an important psychological barrier for investors. I would not be surprised to hear if another bailout is announced [...]
Weekly chart of USD/CAD dating back to 03. Dollar continues to gain strength.
Below is a weekly chart of the U.S. Dollar Index. As I pointed out on Jan 2nd, watch the U.S. Dollar to creep its way back above the 200 MA. So what does this tells us? Well, I can only assume that there is still a LOT of uncertainly in the market, and the market [...]
An UltraShort ETF that has been gaining massive popularity due to the economy plunging downard in the past few months…especially in the financial sector ETF…SKF. This ETF right now has a great setup of a consolidation. As you can see from box “A” The support level is clearly at the 100 price mark. Sure enough from hitting all the buyers at the 100 price level the ETF bounced 100 points to the 200 mark. Right now in box “B” the technical graph clearly dictates the sellers on this ETF are at the 120 price mark and the buyers still at the 100 price mark. According to the volume statistics there is alot more volume that occurs only when hitting the 100 price mark rather in comparison when hitting the 120 mark. So this is a great oppportunity to either go for a breakout or breakdown on this ETF when the market shows more of a downturn or an uplift of the overall market.
Where do we go from here?
The S&P 500 closed on Friday, Jan 9th, 2009, right at the 20 & 50 dmv. At the same time, a trend line can be drawn from Dec 23rd’s closing to Dec 29th to yesterday’s closed, where do we go from here for the next 2 weeks, Monday will tell.
The [...]
With the Federal Reserve printing 25/8, the U.S. Dollar should be weakening in 2009…but weaken against what? Other printing presses around the world?
I think the focus in 2009 will be U.S. Dollar vs. hard assets such as Oil, Gold and Silver. I would also not be surprise to see the Dollar and hard assets to [...]
