Special offer from Mark Leibovit for Money Talks only: The intense analysis of Gold in the 10-12 page The VR Gold Letter is right now 75% off for the first month or $29.95 (regularly $125.00 a month). The weekly VR Gold Letter focuses on Gold and Gold shares.Go HERE and use the Money Talks promo code CBC12210
Stock Action Alert:
The stock market fell sharply yesterday morning after more dismal economic news, including a 0.6% decline in durable goods orders excluding the volatile transportation sector and another rise in jobless claims. But the market slowly worked its way back at the same time as the US Dollar fell, which helped commodity stocks and the rest of the market recover from deep losses. By the end of the day, the Dow Industrials, which had been down as much as 188.33, fell just 53.13 to 10321.03. The S&P was down just 2.31 to 1102.93 and the NASDAQ fell an even smaller 1.68 to close at 2234.22.
Tuesday’s Negative Volume Reversals (r) are the still most important short-term directional indicator. Though I sold SDS (the double-inverse ETF for the S&P 500) yesterday near market lows, we still be well-advised to look for another entry point with the thought that my often mentioned mid-March low is still looming out there. Today and Monday intersects a short-term ‘cycle change point’ in my work, so the market could easily reverse right back to the downside, despite yesterday’s sharp intra-day rally. Where is the positive upside volume to confirm a bottom? I am awaiting a sign.
The more time that passes and the more the February 5 lows hold, the more bullish the markets! That’s the bottom line.
Interestingly, it was Gold that led the market off its lows yesterday, confirming once again that those who believe Gold and stocks move in opposite directions need to go back to trading and investing school. What is good for the goose is also good for the gander. Basically, the same factors that influence a strong stock market are the same factors that influence a strong commodity market and Gold market.
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The weekly VR Gold Letter focuses on Gold and Gold shares. The letter is available to Platinum subscribers for only an additional $50 per month and to Silver subscribers for only $70 per month. Email me at email@example.com.
Special offer from Mark Leibovit for Money Talks only: The intense analysis of Gold in the 10-12 page The VR Gold Letter is right now 75% off for the first month or $29.95 (regularly $125.00 a month). Go HERE and use the Money Talks promo code CBC12210
Marks VRTrader Silver Newletter covers Stock, TSE Stocks, Bonds, Gold, Base Metals, Uranium, Oil and the US Dollar.
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