Not sure what specifically triggered
the pre-market thrust in gold and in the SPDR Gold Shares (NYSE:
GLD), but there are probably 10 fundamental reasons we can come up
with, aside from the resumption of the "flight-to-safety"
excuse.Right now, every time I think about
the reason for a powerful new upleg in gold prices, my mind
gravitates to the following thought -- that questions about the
efficacy of the most powerful governmental institutions on the
planet (the Fed and the BOJ) might slowly but surely be eating away
at investor confidence that current eco-financial problems can be
appropriately dealt with, and remedied.Once CONFIDENCE starts to
deteriorate, it will gain momentum rapidly, which will "force"
money into gold and out of all types of sovereign paper. At that
point, should it emerge, gold will be the main game in town.
Based on my near- and
intermediate-term work, the patter and momentum configuration in
the iShares Barclays 20+ Yr Treas Bond ETF (TLT) argue that the
price structure hit a spike high this morning at 109.50, reflecting
the flight to safety surge in buying of US Treasury paper despite
the puny yields.While this morning's high might
represent the first of multiple "high-spikes" in the 109-110 area,
I am willing to take a small, initial countertrend position long
the ProShares UltraShort 20+ Year Treas Bond ETF (TBT). That said,
to get preliminary confirmation that a meaningful high in the TLTs
has been established, the price structure needs to violate and
sustain beneath 107.50.From a yield perspective, taking a
shot at a countertrend position in the TBT's has technical
justification. The most recent round of ugly U.S. economic data has
pressed the 10-year yield to a new multi-month low at 2.42%, which
satisfies the measured downside target off of the 10-month top
pattern that broke down at the beginning of July 2010.
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Thanks for the copper chart.
Copper...
Posted by Peridot on 9th of Sep 2010 at 02:45 pm
Thanks for the copper chart. I'm planning to move up my exit date on BDD. p.
Maybe it will be turning
Bradley model....
Posted by Peridot on 9th of Sep 2010 at 10:23 am
Maybe it will be turning on a "high".
Thanks Michael. Appreciate you sharing
still more upside?
Posted by Peridot on 2nd of Sep 2010 at 09:24 am
Thanks Michael. Appreciate you sharing the chart. p.
Thanks.
Anyone having trouble with Stockcharts today? Thanks. p.
Posted by Peridot on 1st of Sep 2010 at 11:13 am
Thanks.
Anyone having trouble with Stockcharts
Posted by Peridot on 1st of Sep 2010 at 11:10 am
Anyone having trouble with Stockcharts today? Thanks. p.
GLD - MidDay by Paulenoff
Posted by Peridot on 31st of Aug 2010 at 11:13 am
By Mike Paulenoff, MPTrader.com
Not sure what specifically triggered the pre-market thrust in gold and in the SPDR Gold Shares (NYSE: GLD), but there are probably 10 fundamental reasons we can come up with, aside from the resumption of the "flight-to-safety" excuse. Right now, every time I think about the reason for a powerful new upleg in gold prices, my mind gravitates to the following thought -- that questions about the efficacy of the most powerful governmental institutions on the planet (the Fed and the BOJ) might slowly but surely be eating away at investor confidence that current eco-financial problems can be appropriately dealt with, and remedied. Once CONFIDENCE starts to deteriorate, it will gain momentum rapidly, which will "force" money into gold and out of all types of sovereign paper. At that point, should it emerge, gold will be the main game in town.
Paulenoff Mid-Day
Posted by Peridot on 25th of Aug 2010 at 02:36 pm
Based on my near- and intermediate-term work, the patter and momentum configuration in the iShares Barclays 20+ Yr Treas Bond ETF (TLT) argue that the price structure hit a spike high this morning at 109.50, reflecting the flight to safety surge in buying of US Treasury paper despite the puny yields. While this morning's high might represent the first of multiple "high-spikes" in the 109-110 area, I am willing to take a small, initial countertrend position long the ProShares UltraShort 20+ Year Treas Bond ETF (TBT). That said, to get preliminary confirmation that a meaningful high in the TLTs has been established, the price structure needs to violate and sustain beneath 107.50. From a yield perspective, taking a shot at a countertrend position in the TBT's has technical justification. The most recent round of ugly U.S. economic data has pressed the 10-year yield to a new multi-month low at 2.42%, which satisfies the measured downside target off of the 10-month top pattern that broke down at the beginning of July 2010.
I loved it and sent
Posted by Peridot on 24th of Aug 2010 at 11:06 pm
I loved it and sent it to a few people. Thanks for today's best laugh.
NYSE new highs/new lows 62/162 NASDAQ
Posted by Peridot on 24th of Aug 2010 at 01:37 pm
NYSE new highs/new lows 62/162
NASDAQ new highs/new lows 14/220
Thanks Isplat! Duh, I knew
SPX 1
Posted by Peridot on 24th of Aug 2010 at 01:05 pm
Thanks Isplat! Duh, I knew that....LOL. Thought he had left the O out of LOD.
LD, low of day?
SPX 1
Posted by Peridot on 24th of Aug 2010 at 12:44 pm
LD, low of day?
What a handsome chart! This
yet...
Posted by Peridot on 19th of Aug 2010 at 10:59 pm
What a handsome chart! This is my favorite one tonight. Thanks MG. p.
Matt and Steve, would one
Posted by Peridot on 16th of Aug 2010 at 12:56 pm
Matt and Steve, would one of you mind looking at TBT? Is there any evidence that this might be an exhaustion gap?
Thanks Matt. This chart is
ES 60 min chart
Posted by Peridot on 12th of Aug 2010 at 09:20 am
Thanks Matt. This chart is very helpful. p.
This is an excellent chart
my....
Posted by Peridot on 10th of Aug 2010 at 11:41 pm
This is an excellent chart in my opinion. Thanks for sharing. p.
Thanks Joe. You are the
$RUT update
Posted by Peridot on 6th of Aug 2010 at 06:50 pm
Thanks Joe. You are the resident "$RUT" guru!! p.
Nice call yesterday regarding "seeing
SPX 15 min and market and trade comments
Posted by Peridot on 6th of Aug 2010 at 12:20 pm
Nice call yesterday regarding "seeing 1110".
Thanks Michael. p.
Dollar
Posted by Peridot on 5th of Aug 2010 at 08:57 am
Thanks Michael. p.
Alistair Gilbert's Market Timers is
EUO
Posted by Peridot on 4th of Aug 2010 at 01:24 pm
Alistair Gilbert's Market Timers is saying that the Euro will top tomorrow. Let's see how good these star gazers are. p.
Appreciate the EW count Steve.
SPX Short Term Views
Posted by Peridot on 3rd of Aug 2010 at 02:39 pm
Appreciate the EW count Steve. p.