Hello folks just a quick update for you regarding today’s market price action in the S&P 500…first don’t get too excited about the nice run up today after this past Friday’s large down move. Looking at the chart below you can see we made a new low to start the day off today (not very bullish at all) and then closed right at our moving average…since the price could not penetrate our moving average (again not very bullish) you need to be on the lookout to see how price action will move tomorrow…either there will be follow through where price will take out the previous high from last Friday (1299.50); or it will close between this number and the low formed today at 1262.25…if either of these prices are taken out then you can expect a continued move in that direction…

My trade today was in Oil Futures and it turned into a real home run for the day as I was trading the middle eastern unrest…folks, keep in mind we have a key Gov report coming out this Friday which is the initial jobless claims data (ADP releases their data on Wed as a precursor to Friday’s number)…note that the markets get a little bit volatile around this key report so watch what you have in play on Thursday if you are going to hold an overnight position.

See everyone soon…at least if my voice is not acting up….

Trade Smart — Not Often

hpb

Hello everyone, I hope you are all having a great weekend….below is this week’s market recap….enjoy!

Trade Smart — Not Often

hpb

Hello all, I hope you’re each enjoying this weekend….here in CT we are snowed in with more forecast on the way…I gotta head South, I tell ya!

As for the markets there also seems to be a chill in the air…we’re arriving at another key inflection point this upcoming week…and we’re starting to see some divergences in key indices as well as indicators…please enjoy this week’s video update.

Trade Smart — Not Often

hpb
Trade Smart — Not Often

hpb

Hello all, I hope you’re enjoying the weekend. For those football fans out there I know this is a great weekend with the Pro Football playoffs kicking off…some really good games the other day.

Below is our User Group Weekly Market recap. I hope you enjoy it. One other item of note; -my voice is still not there yet, so please check for a notice by Wednesday of this week about the status of our upcoming Saturday Monthly session. I will let you know if I can talk enough to hold this session or not. I feel I am getting better, but slowly.

Trade Smart — Not Often

hpb

Hello folks, please enjoy this week’s update of the current market action…I was able to actually get through this video update without too much difficulty, but again I do apologize for my voice…I am finding it’s taking a lot, lot longer in getting the strength back in my vocal cords so that I can carry on a normal conversation…

Our next Saturday Session is about 2 weeks from now so please keep on the look out for an email from me indicating whether my voice will be OK to hold this meeting…I am most hopeful that I can, but I just cannot force it….I miss these sessions and talking with many of you and I hope you’re all doing well as the markets test new highs….be careful as we finish out January and pay particular attention to the Earnings Report estimates and revisions (if any) going forward…this could be one tell for the market direction over the next few months….anyway, this is mentioned in the video so enjoy!!

Trade Smart — Not Often

hpb

Hello folks, for those of you that saw my weekend video update I hope you were paying attention when I said Gold is setting up for a very nice short trade; -to the downside!!

As you can see in the chart below, my fundamental belief is that Gold could go higher, but I also believed it was way overbought and extended far beyond where it should be….I point out in this chart below (as well as this weekend’s video posting) that a Short position in Gold would be in order should it go below 1400…

You can see in the chart how the Bearish Divergence is very significant…in fact, this is an almost text book view of what Bearish Divergence looks like…if you were to also look at the RSI indicator you would see the same thing; -that Gold will fall…the only question is when will it fall?

Just jumping into a short position is not recommended since Gold has plowed higher and higher with ever increasing Bearish Divergence, but the drop would come…this is where my indicators and my short term EMA crosses helped me make my decision…it turned out to be a big fall since I also mentioned in this weekend’s update that when Gold falls it does so aggressively…and remember in the futures markets Gold is worth $100 per point which is a very nice return for a quick one day drop…for those of you that are not trading futures just yet, then the ETF GLD would have been in order…using options or just a straight purchase….

Trade Smart — Not Often

hpb