JP Morgan Looking Snazzy. I’m Adding New Capi
Well, the fins are gaining further traction and are up to the tune of 1.75% if we look at the BKX. The leader of this large cap rat pack is JPM which is ripping 3.20%. I took further profits in BAC and added fresh capital to JPM as I think next week could be further uptickage, even […]
Gold
Watch gold here; it's about to potentially break an uptrend line that has been in place since July 27, as well as potentially break horizontal support at 1322. I'm watching for it to find potential support around the 50 dma, which is currently just shy of 1300.
Morning Line-Up
Good morning and happy Friday! After a fairly flat broader tape yesterday, we rise this morning to most things, dollar and treasuries aside, trading at higher prices. The Euro continues its astonishing rally on the back of the rate-hike the other day. Gold, silver, oil, and stocks are all up solidly ahead of what looks […]
One Chart To Sum It All Up
The thing to remember about today's trade is that A) the world is interconnected by the banks and derivatives and B) that many more institutions and individuals these days own multiple asset classes. Regarding point A, this means that the mortgage default in Florida affects a Swedish bank as much as it could affect […]
Gold (GLD) Breakout
The GLD broke above $141 this morning, triggering a buy signal on our end. On the weekly chart below note the steady upward movement over the past few months (and obviously years as well) with nice consolidation periods here and there. On the daily chart note the consolidation pattern that started early March and […]
Baltic Dry Shipping Index Not Participating
The baltic dry shipping index reflects rates charged for commodities shipping. The index is usually considered a fairly decent indicator of economic demand for goods and growth but over the past two years the index has done nothing at all, indicating demand for shipping is not on the rise. I have pointed this out […]
MCMoran Exploration (MMR) Potential Long
MMR has been holding up well and after consolidating some over the past few days looks to have found solid footing to move higher. If the stock can hold above $18.40 I will add to my longs and move the stop to $17.50 with a target near $20.