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swhite5 wrote:I would guess that gold is overbought given the "panic" we continue to see in the media about economic conditions.
Cheers What amazes me is that everyone is hawking gold as an investment. The last time they did that, gold took a nosedive. It got so bad that Monex would call me twice a day about buying GOLD. I told them to go get lost and Gold dropped. Just last week they started calling again, so I kind of figure that GOLD is about ready to drop. XQ
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FRPT IS STILL A BUY. See my previous post for more. I have taken a position. http://stockcharts.com/h-sc/ui?s=FRPT&p=D&yr=0&mn=6&dy=0&id=p00699064200XQ
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No doubt it is looking good, but it is approaching 20 Day MA. Do you think it is good to buy it at this point or once it crosses 20 Day MA? What should be the stop if we buy it at his point?
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Hello_All wrote:No doubt it is looking good, but it is approaching 20 Day MA. Do you think it is good to buy it at this point or once it crosses 20 Day MA? What should be the stop if we buy it at his point? I like to use a 6 @10 DMA. You can use a 20 DMA if it suits you, or the MACD, or the P-sar. As far as a stop you can set it at a level that you can tolerate, like 3% or 5%. When a stock is lower priced you might want to use 5%. Here is a little help. http://www.stockconsultant.com/consultnow/basicplus.cgi?ID=sample&symbol=FRPT&30751#ttop http://stockcharts.com/h-sc/ui?s=FRPT&p=D&yr=0&mn=6&dy=0&id=p00699064200XQ
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The Dow pullback has started for earnest, as I have pointed out in previous posts. I am long of FRPT, DUG and ZSL. I hope everyone has held back money to buy some discounted equities. I will not recommend any equities until I find some real bargains. They are coming. http://stockcharts.com/h-sc/ui?s=ZSL&p=D&yr=0&mn=6&dy=0&id=p45801846975http://stockcharts.com/h-sc/ui?s=DUG&p=D&yr=0&mn=6&dy=0&id=p45801846975http://stockcharts.com/h-sc/ui?s=FRPT&p=D&yr=0&mn=6&dy=0&id=p45801846975XQ
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This may be the beginning of the correction that has been anticipated (and needed) for several weeks. This market has gotten way ahead of itself, and is due to pullback. We will have to wait to see how far and how fast.
I sold most of my positions Friday and early today. Still holding AFN and RF since they are still technically sound.
Cheers
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swhite5 wrote:This may be the beginning of the correction that has been anticipated (and needed) for several weeks. This market has gotten way ahead of itself, and is due to pullback. We will have to wait to see how far and how fast.
I sold most of my positions Friday and early today. Still holding AFN and RF since they are still technically sound.
Cheers I wish you well with your banks. They are not something that I would invest in at this time. http://stockcharts.com/h-sc/ui?s=AFN&p=D&yr=0&mn=6&dy=0&id=p94236462343http://stockcharts.com/h-sc/ui?s=RF&p=D&yr=0&mn=6&dy=0&id=p94236462343XQ
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The DIA and SPY have both made a little gain so far today. I am still of the opinion that we will see a lower DOW in the near future. If we do a 50% retracement in the DOW we will be at around 8000. That is 9450 - 6525 = 2925 / 2 = 1462.50 + 6525 = 7987.50 XQ
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Both AFN and RF continued to perform well today. I have moved the stop up accordingly and have locked in a nice profit on both. I am just letting them run.
Cheers
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Novice wrote:kicker wrote:Novice :
Based on what?
Weakness in dollar
if you look at the post the xquestor posted regarding the dollar, it is currently on a downtrend and has not broken the trending resistence, look at a 2 year view, also i heard that china has sold 25 billion in us treasuries, currently US is borrowing money from china to pay the bills - it is not a go thing if they are starting to unload and cash out. china is the US' number one creditor. gold is use has a hedge against a falling US dollar as a safe haven, also when the market begins to fall gold tends to move higher as the general market falls. Novice It does appear that the dollar has reversed and may be headed back up. Even with the small pullback today the US $ closed above the 6 & 10 DMA and is P-sar positive. The MACD fast line is above the slow and the SLO sto fast line is above the slow. http://stockcharts.com/h-sc/ui?s=$USD&p=D&yr=0&mn=6&dy=0&id=p33202551504XQ
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The DOW and SPY both look like the are trying to roll over, or at least trending down. To what point is undetermined. China and the American consumer will determine that. Here are some charts to follow. http://stockcharts.com/h-sc/ui?s=$INDU&p=D&yr=0&mn=6&dy=0&id=p68670000240http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p17732132381http://stockcharts.com/h-sc/ui?s=$COMPQ&p=D&yr=0&mn=6&dy=0&id=p43919554887http://stockcharts.com/h-sc/ui?s=$VIX&p=D&yr=0&mn=6&dy=0&id=p14743278689http://stockcharts.com/h-sc/ui?s=$TRAN&p=D&yr=0&mn=6&dy=0&id=p61675414930Do not be lulled into believing that all is fine in the markets. The bears are on vacation and all those green shoots will turn into crabgrass. XQ
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HOME SALES Just thought I would post some articles on home prices. As CNBC just reported 31% of home sales were foreclosures and the DOW rallies. That is really curious that bad news would move the market up. A lot of people have lost their homes and now have to struggle to get their lives back together. Homeowners spend money on their homes. Homeless families do not. http://www.ritholtz.com/blog/http://www.census.gov/const/www/newressalesindex.htmlhttp://www.census.gov/const/newressales.pdfI noticed that all government documents always have a disclaimer that says the information is an estimate. So, I guess that if a bank forecloses on a new home by a builder, that it is considered a new home sale. Here is the loophole in the numbers. http://www.census.gov/const/www/salescancellations.htmlXQ
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BDI The best economic indicator you've never heard of. http://slate.msn.com/id/2090303/XQ
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FEED I have been watching this stock for a few days. It is a Chinese stock that is in the hog production and distribution business. China does not allow imports from certain countries, which is great for FEED. http://finance.yahoo.com/q?s=FEEDhttp://finance.yahoo.com/q/cf?s=FEEDhttp://stockcharts.com/h-sc/ui?s=FEED&p=D&yr=0&mn=6&dy=0&id=p00699064200FEED has 25 mil in cash above debt and 38% inside ownership. They also report earnings on a quarterly basis. Earnings growth has been 75% per year over the last two years. I believe that this is a buy between $4.10 and $5.00. XQ
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OIL Oil supplies are higher then last week. What people do not realize is that supplies are even greater then last year. http://tonto.eia.doe.gov/oog/info/twip/crstuss.gifCompare 2008 to 2009 http://tonto.eia.doe.gov/dnav/pet/hist/wttstus1w.htm XQ
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Doug Kass----- The Market Has Likely Topped http://www.thestreet.com/story/10590765/1/kass-market-has-likely-topped.htmlI believe that he is right. The Asian markets are falling and both the Dow an the S&P 500 have retraced 38.2% of their fall from the top to the bottom. The BDI index has also been moving down. http://stockcharts.com/h-sc/ui?s=$BDI&p=D&yr=0&mn=6&dy=0&id=p14759257136XQ
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