Friday, March 20, 2009
Thursday, March 12, 2009
US Dollar and Gold Looking Weak
Gold hit $1000 mark in Feb. Now it is sitting right at the trendline and horizontal support. We have a potential head and shoulder formation. If it closes below this critical support, we are likely to see a measured move down to $800.
Thursday, March 05, 2009
How Low Can They Go? - C, AIG, BAC
Citigroup Inc. (NYSE:C) levels of support: $1.0, $0.8, $0.45
Bank of America Corporation (NYSE:BAC) rebounded from strong support at $2.5 on 20 Feb. Next level of support is around $2.0, followed by $1.32.
American International Group, Inc. (NYSE:AIG) has tested its all time low of $0.38 on 24 Feb this year. Basically, as you can see from the chart, there is no other support below. Yikes!
Thursday, February 26, 2009
Forex and Options Trading
YUK: ISE Yen FX Index
EUI: ISE Euro FX index
CDD: ISE Canadian Dollar FX Index
BPX: ISE British Pound FX Index
AUX: ISE Australian Dollar FX Index
SFC: ISE Swiss Franc FX Index
But do note that AUX has very wide bid-ask spread.
Of course there are also the currency shares trust by NYSE exchange which are also optionable:
Swiss Franc: FXF
Canandian Dollar: FXC
Australian Dollar: FXA
Despite the chaos in the US financial market, the USD/JPY is rocketing up towards 100 after forming a double-bottom. Here's a closer look at the USD/JPY by the MarketClub.
Saturday, February 21, 2009
Weekend Learning- Free Videos & Book
Together with MSN, Andrew Horowitz is offering his book: The Disciplined Investor: Essential Strategies for Success for free download. Grab this free book by 21 Feb'09 before its gone!
Now on to some educational videos. Below is a series of five free educational videos by Adam from MarketClub that shows viewers how to trade in five different markets.
Wednesday, February 18, 2009
Market Breakdown, Financial Sector All Time Low
Above chart shows the VIX, which is a measure of fear gauge. It shot up yesterday and broke above the recent range. After some period of complacency, is the market suddenly awaken by the "real" reality?
The KBW Bank Index is at an all time low as well, breaking the 25 level support (see chart above). Same goes for Financial Select Sector SPDR (NYSE:XLF). During this whole crisis period, the financial sector
Tuesday, February 10, 2009
Sector Performance Since Jan 2009
This chart above is similar to the one on top, only difference is the base line is S&P 500. Sectors like Financials, Consumer Discretionary, Industrial and Consumer Staples has since underperformed relative to S&P 500.
I would like to take this chance to recommend a few excellent blog posts from Dr Brett and Trader-X. These posts are already bookmarked under MY DELICIOUS at the left hand column, but in case you missed it, here they are:
How to Identify and Trade Trend Days to the Upside
Recognizing Range Days in the Stock Market
A Life Lesson From Trading
How I Trade - revised Feb 09