Futures trading involves risk of loss and is not suitable for everyone.


Daily Audio Blog

Member's Login


Market Update PDF Print E-mail
Written by Steve Meyers   
Tuesday, 27 May 2014 16:27

The market is certainly challenging here as the Russell has rallied all the way above our initial sell. Is this a blow off top today or prove to be a legitimate breakout? The weekly close will be the determining factor. We are short the Russell from 1130+ and will risk a weekly close above 1140.

Gold have broken to a new low. Our stop is a weekly close below 1277. Today is option expiration. We need to be careful as this market has built a spring to break one way or another.

Silver is also down and our stop is a weekly close below 18.90.

 
Market Update 5/21/14 PDF Print E-mail
Written by Steve Meyers   
Thursday, 22 May 2014 00:17

 

You got to know when to hold them, when to fold them. Know when to walk away and know when to run.

 

Stocks remain rangebound. We witness a huge selloff one day followed by a surge straight back up. This is not normal activity and I would issue a huge warning that trouble lies ahead. We are short the Russell 2000 and that index continues to struggle the most. It's valuation is still in the stratosphere and a big devaluation should be forthcoming. The toughest part of a trader is being patient but that's what is required.

Gold and silver continue to be fed sell orders here in the U.S. With all the paper that has been used to suppress prices, it is impossible to hold the metals down all day long. As in the stocks, there is something big coming around the corner. Again we are long and patience is the name of the game.

 
Market Update PDF Print E-mail
Written by Steve Meyers   
Tuesday, 20 May 2014 21:52

Stocks posted a solid reversal across the board once again led by the Russell 2000. I look for an accelerated drop to take place very soon. We are short the Russell from 1130 and holding. I will talk about downside objectives in the days to come.

One day, the central banks will lose control of the gold and silver market. There is a day of reckoning coming where the physical market will set the price and not the phony paper market that our central bank uses to control the price of metals and stocks. We are long and patiently awaiting the fireworks. I can't help but feel that we are close to something happening. We are long gold from 1305-1280 and long silver from 19.51.

 
Market Update 5/19/14 PDF Print E-mail
Written by Steve Meyers   
Monday, 19 May 2014 17:30

Stocks are bouncing after Friday's late reversal. Prior to that the Russell did carve out a new low so the trend is clearly down and I expect new lows are dead ahead. I would put resistance up to 1120 on the Russell and 1888 on the SPX.

Gold and silver are vice locked into a range. Sooner or later, we will break out one way or the other (Captain Obvious). My bet is up with all of the geopolitical risk in the world. It will be almost miraculous if we don't have some fireworks soon.

The Yen continues to strengthen and that should put a risk off mentality on other markets.

 
Market Update PDF Print E-mail
Written by Steve Meyers   
Thursday, 15 May 2014 22:15

Stocks did follow through to the downside so it looks like we will have a good correction for a few weeks. The Russell 2000 took out it's most recent lows and went into correction territory (-10%).

Gold and silver got smacked down again today. I maintain my belief that this is the buy of the year. I look for tomorrow to be another good up for the metals. We need to close above resistance on a weekly basis to get the market moving.

 
<< Start < Prev 1 2 3 4 5 6 7 8 9 10 Next > End >>

Page 1 of 20