Don't Fight The Tape
Adam Sarhan is a contributing writer to Minyanville.com. Earlier today he published this article and sent a related note to FindLeadingStocks.com members.
Don’t Fight The Tape:
Adam Sarhan is a contributing writer to Minyanville.com. Earlier today he published this article and sent a related note to FindLeadingStocks.com members.
Don’t Fight The Tape:
NEW YORK (Reuters) – Gold futures ended a hair lower on Thursday as the market took a breather after rising for the past five consecutive sessions, and the metal must break above key resistance at $1,150 to rise further, analysts said.
Bullion prices have climbed nearly 3 percent so far this week, largely defying a stronger dollar, as persistent fears over the fiscal health of smaller euro zone economies prompted investors to buy the metal as a haven from financial risk.
The price of gold has been largely moving in a trading range between $1,050 and $1,150 since it rallied to a record high above $1,220 in early December, failing to show a clear direction.
The fact that gold had a technical break-out on Wednesday while the dollar was also rallying “speaks volume” for the metal’s strong underlying demand, said Adam Sarhan, chief executive officer at New York-based Sarhan Capital.
Sarhan said that it will be key for gold to close above $1,150 an ounce for the week, as the metal has risen toward the mark several times but had failed each time.
“If it does rise above $1,150, that means we can confirm the break-out. If it doesn’t, we expect some sideways actions to continue.”
Portfolio managers are always looking for new merchandise. A great majority of history’s greatest winners tend to enjoy their best run in the years following their IPO. Here is FindLeadingStocks.com’s Special Report of 20 Best & Worst IPO’s in 2013. It’s good to keep your eye on the new merchandise for early (stage 1) breakouts….
The market is trading on macro factors at the moment, says Greg Goodsell, equity strategist at RBS, speaking to Jeremy Hook, investment director at TMS Capital and CNBC’s Oriel Morrison.
What Is The Santa Claus Rally? Here is how Wikipedia defines a A Santa Claus rally, “It is a rise in stock prices in the month of December, generally seen over the final week of trading prior to the new year. The rally is generally attributed to anticipation of the January effect, an injection of…
The Dow Jones Industrial Average & The Benchmark S&P 500 index and Nasdaq composite (not shown) are currently retesting their 2010 lows. As long as these lows hold, the current trading range remains intact. However, if the lows are breached, odds favor lower prices will follow. In addition, it is important to note that their 50 DMA lines are about to undercut their longer term 200 DMA lines which, as we now know, is not a “healthy” sign. It is also worrisome to see that other capital markets have hit new 2010 lows which suggests the bears are getting stronger (i.e. EUR/GBP, EUR/JPY, and EUR/CHF are already at fresh 2010 lows).
Several Strong Setups: One thing I look for each week is strong setups. Anyone can be a great Monday morning QB and say – look at how strong XYZ is AFTER it broke out. For me, I find the real value is finding the gems before everyone else. Advanced Entry/Exit Points In Leading Stocks &…