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Weak US Dollar, easy money = GOLD Higher $GLD
Feb 21, 2012
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For technical traders, yesterday was a buying opportunity. For the other 99%...http://bit.ly/qmvOpq
Aug 11, 2011
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April gold finished higher by $12.90 to close at $1,414 an ounce.
Feb 23, 2011
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First Solar Trades Up: Bottom May Be In
First Solar, Inc. is trading at an attractive valuation level ($13.72, +0.12 (0.90%), this is also a makes FSLR a possible buyout candidate. New tariff rules passed on Chinese solar companies makes First Solar one of the lowest cost solar producers on the market.
Gareth Soloway
InTheMoneyStocks.com
Positive Divergence: Dollar Vs. Market Suggest Stock Rally Soon
The markets are taking a beating today. The SPDR S&P 500 ETF (NYSEARCA:SPY) is trading at $130.44, -1.76 (-1.33%). While things look ugly, there is a major silver lining showing up. This is a positive divergence between the markets and the U.S. Dollar.
The Dollar and the markets have an inverse relationship. Whenever the Dollar rises, the markets sell. This can be clearly seen on any Dollar, S&P 500 chart spanning the past few years. While this relationship still remains somewhat in tact, there is a divergence showing up today.
The divergence is as follows. As the Dollar ETF, PowerShares DB US Dollar Index Bullish (NYSEARCA:UUP) has made new multi month highs, the SPY has not made new lows. This tells us the markets are beginning to find a short term bottom for the next week or two with upside very likely. In addition, when the Dollar finally peaks at resistance and pulls back, the markets should see a solid rally.
Gareth Soloway
InTheMoneyStocks.com
JPMorgan Bounce Target
JPMorgan Chase & Co. (NYSE:JPM) is surging today, trading at $34.16, +1.65 (5.06%). The stock has been under major pressure lately from billions in losses. While the stock collapsed, the key was to find the support level where it would bottom, and bounce. This level was at two key gap fills between of $32.50 and $33.25. At this level, the stock became a screaming buy. I played it personally and am enjoying some solid profits.
As the stock bounces, it is important to isolate the short term target. When looking at the chart, the first target is clearly a retrace to the gap fill from May 16th, 2012 at $35.45. The second target would be a bounce back to the 200 moving average at $36.50.
Gareth Soloway
InTheMoneyStocks.com
(click to enlarge)