From Bloomberg today; The Federal Reserve maintained its pledge to be “patient” on raising interest rates and boosted its assessment of the economy and labor market, even as it expects inflation to decline further. “Economic activity has been expanding at a solid pace,” the Federal Open Market Committee said today in a statement in Washington. “Labor market conditions have improved …
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27
2015
I put out a midday Current Thoughts today concentrating on JNUG and JDST and how I would have traded them. If you haven’t had a chance, spend a few minutes to see how you could have profited on a JNUG trade today, along with the two I leaned long with yesterday, UWTI and UGAZ. From the Trading Desk Winter storm …
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27
2015
When I write my Current Thoughts I mention the words “higher high” in trading the various ETFs. In explaining this pull up a chart of JNUG which you can find here: http://finance.yahoo.com/q?s=JNUG Click on the 1 day chart for reference (as shown below). The following analysis is based on price action only. No Elliott Wave analysis. No fibonacci, RSI, etc. gobblygook. One …
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26
2015
Today we got the gap down in gold and silver and both metals meandered at these lower prices with silver signalling a daily red arrow down. JDST opened up over $9 a share and the various mining ETFs opened down but a reversal occurred mid-day and JDST turned red and the miners all went green. In a sense we got …
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25
2015
In Thursday’s Current Thoughts I said I lean towards JDST and it turned out to be the start of the day up 14.94% as gold took a hit. The daily red arrow for GLD and the mining ETFs was triggered but SLV is still green. The Greek vote came in with the anti-austerity Syriza party winning the election but falling …
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22
2015
Gold and silver gapped down in Asia and European trading with gold all the way down to just below $1,280. The metals started creeping up pre-market for the U.S. and once the ECB announcement came out that everyone was looking for, went green for the rest of the day. The funny thing is, JDST also ended the day green and …
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21
2015
Today the price of gold and silver gapped up to over $1,300 and $18 the prior resistance and almost immediately after the U.S. markets opened, began to drift lower. In yesterday’s Current Thoughts I said this; “JDST moving above $7.48 would be the conservative trade.” In fact, I said “or if we gap down a higher high is playable.” We …
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20
2015
From the Trading Desk With the US out yesterday for Martin Luther King, Jr. Day, the markets were quiet and gold took a brief pause from its recent rally. That rally has resumed in full force today though and the yellow metal is pressing against $1,300 for the first time since August of 2014. Gold is still feeling the …
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19
2015
Interesting thought as I type these Current Thoughts on Monday afternoon is the following; Why has there been no movement in precious metals since Asia opened for trading? Answer: because there was a 3 day holiday in the U.S. and the U.S. market is what makes the metals market tick. Unless of course there is some mysterious seller that brings …
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15
2015
From the Trading Desk Just when it looked like gold had exhausted its move to the upside, an entirely unexpected market event gave it new legs in today’s trading session. A shocking move from the Swiss National Bank reignited markets fears and caused investors to flock to the safe haven appeal of gold. Switzerland’s central bank abandoned its long-standing floor …
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