Last weekend, in my Market Forecast, I said, "For the new week, the market will start the week in a neutral position. If SPX and Nasdaq can rise above their respective daily MAs, the market can rally higher. The immediate resistance levels above the daily MAs are SPX 1080 and Nasdaq 2150. Although VIX closed below [...]
Category Archives: GDX
Market Forecast + Sector Watch: SPX, Nasdaq, XME, XLF, SOXX, GLD
November 8, 2009 – 8:49 pm
Last weekend, in my Market Forecast, I said, "For the new week, it looks like the market is trying to send the Fed a message before the FOMC meeting on Wednesday. What the market is trying to show is the potential "double-dip" if the Fed pulls out liquidity measures too soon. On Friday, the market will get the latest unemployment rate [...]
Market Forecast + Sector Watch: SPX, Nasdaq, XLF, USO, GDX, MOO
May 25, 2009 – 5:51 pm
In last week’s Market Forecast, I said, "For this week, with SPX and Nasdaq back above their key levels (SPX 900 and Nasdaq 1700), things are looking bullish again! Most sectors participated in today’s rally, which is a good sign. With VIX heading back into the 20s, this rally looks to have more legs to [...]
Market Forecast + Sector Watch: SPX, Nasdaq, GLD, GDX, XME, FXI (public)
February 8, 2009 – 8:28 pm
from MyHappyTrading.com by HappyTrading! ™ Sign up for FREE membership! Last weekend, in my Market Forecast, I wrote: “For the new week, much attention will be on the changes in the stimulus plan and the second stage of the TARP. But, judging for the market’s reaction late last week, the crowd is getting harder and harder [...]
Central Banks Cut Rates; Stocks Still Weak! SPX, Nasdaq, GLD, ABX, AEM, GDX, FCX, PCLN, CTRP, IBM
October 8, 2008 – 4:01 pm
from MyHappyTrading.com by HappyTrading! ™ Sign up for FREE membership! Central banks around the global cut interest rates in a coordinated effort to help ease the credit crisis. The Fed slashed rates by half-a-point to 1.5%. The market was very volatile, going up-and-down many times; but, still ended down! Certain sectors were able to hold [...]
Investors Run For Safety, Pumping Gold Up More Than $90! SPX, Nasdaq, AIG, GS, MER, BAC, MS, GLD, GDX, AEM, ABX
September 17, 2008 – 3:43 pm
from MyHappyTrading.com by HappyTrading! ™ The market was not encouraged by the government rescue solution for AIG; not one bit! AIG fell more than 45% today to close just above $2/share. The pre-announcement on MS earnings, which beat the estimates, did not help either. MS shares flopped 24.22%! Rest of the financial sector was a [...]
Gold And Silver Plays Jump! SPX, Nasdaq, RIG, NOV, SLB, GLD, SLV, GDX, AEM, GOOG, DNA
July 14, 2008 – 6:28 pm
The market gapped up today, but, quickly dove into the red. Bush, in a “symbolic move”, lifted the ban on offshore drilling. This prompted the oil services sector to jump. OIH added +2.28% today, while, among its top holdings, RIG, NOV, and SLB recorded solid gains, +1.75%, +5.38%, and +2.65%, respectively. The financials were yet [...]
Stocks Up, While Oil Above $124! SPX, Nasdaq, X, NUE, CLF, RTP, GLD, XAU, GDX, OIH, PCLN, solar stocks
May 8, 2008 – 4:12 pm
The stock market was up today, led by metals and mining. Energy stocks did well also, as crude closed above $124/barrel. (What did I say about trying to “rationalize” the market yesterday?) Gold seemed to be on its way back up, as GLD added +1.65%. Steel stocks were hot, again! X, NUE, and CLF all [...]
Market Forecast for Week of 3/17: SPX, Nasdaq, GLD, SLV, GDX, XAU, FXY, FXB, FXE
March 16, 2008 – 7:04 pm
With big news (BSC/JPM and Fed’s discount rate cut) on a Sunday before the options expiration week, the market is bound to be very volatile on Monday. Fed’s immediate discount rate cut is, no doubt, an attempt to buffer the effect of the JPM $2/share bailout of BSC! Nikkei (Japan) is down more than 400 [...]
$100 Oil Reached, $1000 Gold Coming! SPX, Nasdaq, GLD, SLV, XAU, GDX, CSIQ, FSLR, SPWR
March 5, 2008 – 6:43 pm
$100 oil seems to have been accepted by the market. Crude traded to almost $105/barrel today and there were no big headlines about it. Gold was above $993/ounce today, getting close to that 4-digit number, $1000! Silver also made a new multi-year high, nearing $21/ounce. The market was in part supported by commodity-related stocks, although [...]
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