On of the great advantages of using the Elliott wave theory is that when an odds-on forecast goes wrong, there are precise levels which will warn you of that – and then you can take evasive action. Such an event occurred at 12 noon UK
Tag: momentum divergence
Last time I asked if anyone had seen Santa as markets were in a tailspin a week or so ago. The bulls were in dire need of a Santa Rally alright. And a day late, someone told me he thought he saw him briefly on
I do not usually comment on political matters as this is outside of my remit – unless there is a clear market impact as there was on Thursday with the latest Brexit twist. Some cabinet ministers resigned over the plan and that hit sterling hard.
Last week I saw – and forecast – a major breach in the defences of the Tech Titans – and I was there ahead of the game to advise short positions to Pro Shares members before the dams broke. My main target was Amazon as
A few days ago, the MSM was focusing on the trashing of China’s currency. Suddenly, it’s now Turkey’s lira making major headlines. What will it be next week? Of course, there is not a shortage of candidates, as euro weakness demonstrates. But what strikes me
You don’t see this very often, but soybeans are making global headlines. This very unassuming oil-seed has been thrust into the centre of the US-China trade wars. And guess what? There is a very active futures market in them at the Chicago Board of Trade
The most famous investor of today has to be Warren Buffett. His acolytes hang on his every word and try desperately to emulate his methods – and with their succes usually falling short in the process. When asked for his favourite time scale for holding
Many of us have been expecting a stock market crash for some time, but the reports of its death have been greatly exaggerated – at least since February. While I believe that scenario will come to pass, in the meantime the rally continues, but on
In a previous post The Oil Price is Suddenly Hot News – Has it Topped?, I pointed to the manic extreme bullish posture of hedge funds in the crude oil bubble which was waiting for the pin to arrive. It duly arrived on Friday. It
Last time, I explained at length why your views are not nearly as important in forecasting the price path as that of the other traders. Unless you have more funds available than hedge funds, central banks and governments put together, your trading will have precious
Yes indeed, the surging oil price story is all over the media with forecasts for $100, $150 and I even saw one for $300 yesterday as they come out of the woodwork in a torrent. It appears everyone is finally on board the bull train
Hair-raising is the word for it – trading the US stock indexes I mean and is a day trader’s dream with daily Dow moves of many hundreds of pips. Yes, I sometimes engage in very short-term trading, but my main interest is in trading the
