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Market Update 3/27/14 PDF Print E-mail
Written by Steve Meyers   
Thursday, 27 March 2014 16:45

Higher opening again meets selling. This market is really struggling. It is now short term oversold but cannot sustain a bounce which is a negative. When was the last time that you DIDNT see a positive effect from window dressing? Warning Will Robinson.

Japanese yen is making slow progress but certainly got hit off the highs. The powers that be know full well how vulnerable these markets are and will do whatever it takes to hold on a little longer.

Gold and silver are close to reaching our downside targets. Gold is in our buy zone from 1305-1285 and we are patiently waiting for silver at 19.51.

Put on God's armour and fight the good fight.

Morning Market Update PDF Print E-mail
Written by Steve Meyers   
Wednesday, 26 March 2014 14:48

Stocks are following the same pattern that they have for the past few trading sessions. Strong opening followed by weakness (especially the small cap stocks). Then sideways to slightly higher the rest of the day. Pomos are scheduled towards the end of the quarter, I assume to help stocks post a positive quarter. Market is topping but possible to form a triangle and have 1 failed upward thrust, especially in the S&P

Gold and silver are following the plan. Weakness is expected into the end of the month. Buy silver at 1951 and gold at 1305 down to 1285.

The Japanese Yen is building a huge base which I believe eventually is going to lead to a massive rally. This is going to further unwind the carry trade and will be extremely negative for stocks. The dollar is slowly being replaced as the reserve currency and will suffer a meltdown at some point.

Market Update PDF Print E-mail
Written by Steve Meyers   
Tuesday, 25 March 2014 16:19

Stocks once again were launched upward and were soundly rejected from higher levels. We are still trading an inside day from yesterday so this is till noise until we take out the high or low from yesterday. Once again, it is the Russell 2000 that is leading the volatility. Buble Bubble Toil and Trouble!

Gold came dow to 1306 and bounced. We have given up some of the gains from the low. Tomorrow is option expiration. It is possible to test lower levels but this is a buying opportunity we want to take advantage of. Longterm traders can start buying at 1305 and average down to 1280. Short term traders should try to buy at 1286. I am going to continue to work an order to buy silver at 1950.

Morning Market Commentary PDF Print E-mail
Written by Steve Meyers   
Monday, 24 March 2014 15:30

The market is following through on Fridays big reversal down. The Russell 2000 is leading the way today as stories are emerging about how overvalued that index is. We have taken out the lows of 2 weeks ago but S&P has more work to do. Risk is high but so are the market participants.

We got stopped out of our long gold positions with an $8 profit and the metals are getting hammered into our end of March cycle. Waych gold at 1305 for possible support. If we lose that then 50% retracement in close to 1280. Buy silver at 19.50.


Trade Update #2 PDF Print E-mail
Written by Steve Meyers   
Friday, 21 March 2014 16:32
We were stopped out of silver at 2039 for a small 9 cent loss. I thought it was time to get rolling as silver was 20.56 at the time but we did reverse back down. I want to buy again closer to the end of March. Our stop in gold is 1328.90 and will be an $8 profit if hit. Again, the end of March is when we will be looking to get back in.
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