Friday, March 22, 2013

Yesterday's impromptu trading session online yielded a treasure trove of bullish opportunities, including impulsive breakouts in AAPL, Newmont and Agnico Eagle.  Check out today's touts for a detailed look at short-term prospects in Newmont.  The potential trade set-ups were spotted by three subscribers whom I've asked to monitor price action closely and to signal the entry trigger in the chat room if possible.

Permabears shouldn't get their hopes too high over the Cyprus affair, since the hourly DJIA chart is not exactly screaming "Sell!"  In fact, you can see that recent downthrusts have failed to create impulse legs on the hourly chart, much less the daily where real trouble shows up. Yesterday's low failed by a hair to take out Tuesday's, implying that the selling was just traders marking time in preparation for the next short-squeeze buying binge. If you're looking to get in on the ground floor, keep a close eye on the 14405 midpoint support shown in the chart. Assuming the upturn its coming soon, that's the most logical place for it to start.  _______ UPDATE (1:15 p.m. EDT): The selloff didn't even make it down to the 14405 midpoint before DaBoyz seized control. They opened this hoax at 14421 and ran it 50 points higher on the opening bar, goosing it yet another 50 points shortly thereafter.  ________ UPDATE (March  25, 1:33 p.m. EDT):  Before plummeting 170 points today, the Indoos head-faked their way on the opening to within 9 points of a target I'd drum-rolled a while back.  Here's the original tout (and if you managed to get short, please let me know in th chat room): The 14572.39 target shown is one that I like, for reasons that seasoned Pivoteers will appreciate. Mainly, it’s the clarity of the ABC price points amidst a hot mess of steroid-addled, psychotic upwardliness.  When I say that I ‘like’ the target, I mean to imply that it has the potential to stop this rally in its tracks.  This would be no small feat, since the stock market’s surreal ten-day winning streak reportedly hasn’t been equaled since 1996.  Keep in mind that our target is not chopped liver, as I am fond of

We’ve told subscribers to expect the broad averages to drift lower as long as the Cyprus annoyance persists. The Dow did indeed fall yesterday -- by nearly 100 points -- raising the question of when a drift would officially become a rout. Not yet, for sure. Nor could it, in our estimation, unless the affair takes the sort of catastrophic turn that few seem to expect. In the meantime, Wall Street pros must be getting anxious about having Cyprus “fixed” as soon as possible so that they can get back to business-as-usual. Pumping stocks full of hot air is what they do, after all, but as long as the dark clouds of a fifth eurobank bailout are hanging over the markets, the psychological conditions that make their ruse possible will perforce remain unfavorable. If and when Cyprus finally caves to the demands of Germany and Europe’s banking establishment, we’ll probably never know how close to a collapse the global financial system may have come. Suffice it to say, those who will claim that the whole affair never posed a major threat will be dead wrong, although they will be the only ones quoted by the news media as Europe’s ginned-up  “solution” takes root.  In fact, whatever remedy is spun, it will not allay the suspicions of depositors both large and small that what has happened in Cyprus could happen again elsewhere.  Doubts are certain to persist, and to grow, and when policymakers try to mollify the doubters, the unintended effect will be to make the next bank failure even more difficult to manage. For some of us, at least, there is already a sense of foreboding about how the ultimate failure of the Bank of Cyprus will loom large in books about how the financial system came one day to