Today we initiate our coverage in Chesapeake Energy Corporation (NYSE:CHK) is a stock that has been beaten up, along with the rest of the energy sector. The stock is showing signs of a sustainable bottom, and our forecast is for price to make one last test wave back down before reversing. This would create an…
Gold, as expressed through its ETF GLD, (NYSE:GLD) is entering a time where our forecast calls for a lot of choppy, sideways action. We will keep monitoring this market, but our best estimate is that we are in for several weeks of chop before the bulls can consolidate power and begin a new buying campaign.
(EUR/USD) has corrected “too much”, and this break in rhythm we believe will lead to a head and shoulders type reversal. It’s time to trail protective stop loss orders once again, and be proactive to take the rest of the profit if price can rally back up to retest the blue zone. This disappointing follow…
The S&P 500 index proxy (SPY) is currently digesting its recent drop. The odds are muddy, and we are seeing only a 60% chance for a breakdown at this time. Our forecast is for the market to retest the lows, then rally back to begin forming a range on the daily chart. We will wait…
Goldman Sachs (NYSE:GS) followed the markets into a violent wave of selling, and offered any number of great places to exit with a profit.
(EUR/USD) has more than exceeded our profit targets as it followed through on the forecast from last week. Time to trail stops to break-even and let this new uptrend “breath”.
JP Morgan Chase (JPM) flash-crashed hard and paid us nicely for holding on to partials in the position.
The S&P 500 index proxy (SPY) has broken down out of its range with a vengeance. This sets the stage for a more serious shift into a bear market, but there is always a chance of another Fed bailout. Our forecast is for price to rally a bit, then turn lower for a retest and…
