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Just about the only asset which I like on the long side is gold. It seems to have found firm support at about $1280, and it is the only long position I’ve got in a sea of equity shorts. Let’s see if the moving average crossover sticks and – better yet – pushes even higher.
Quite a day we had, wasn’t it? It was looking pretty ugly out there for a while: BDI and I were engaging in our traditional woe-is-me email exchange, which normally marks an important reversal point in the trading day. What I’m watching with great interest is whether or not the 50-day EMA crosses beneath the 100-day EMA, which hasn’t happened in many years. The last time it happened, in a high school girl teasing kind of manner, was in November of 2012 (marked with arrow). The 50 skirted right on top of the 100 until a furious and vicious rally commenced afterward. (more…)
Just sharing a bit, since it was oh-so-good:
SandRidge Energy (SD) appears poised for upside acceleration after spending the past 2 weeks consolidating its March-April up-leg. All of the action off the April 23 rally peak at 7.10 has the right look of a mature bull flag-type of consolidation pattern that should resolve itself to the upside in a thrust to the 7.50 level in the coming days. (Click on the chart in case you actually want to see the damned thing).
By Mike Paulenoff, originally published on MPTrader.com.
Since companies going public and their investment bankers want to create good value for your shareholder dollars, I thought I’d present some percentage graphs of recent IPOs and the dynamite profits they’ve returned to the general public. Please note I am including the entire history of each firm since their initial offering. Congratulations, one and all!
