Daily Reading – Wednesday, April 20, 2011

Pragmatic Capitalism: RECOGNIZE THIS PATTERN?

If there’s been one thing that has been most apparent during QE2 (and QE1) it has been the repetitious trading patterns.

The Slope Of Hope: The Risk to the Bears

Well, I guess it shouldn’t come as a suprise, but for the 8,835th time, a “breakdown” has lasted all of onetrading session. The entirety of the drop from the S&P downgrade has been more than reversed, and Wednesday already looks like a good day for the bulls (judging from the ES and NQ right now).

If the SPX gets above 1340, there’s very good reason to believe that 1430 is the next stop. Everything depends on that horizontal line.

JESSE’S CAFÉ AMÉRICAIN: Gold Daily and Silver Weekly Charts – Goal Line Stand

I sold the rest of my index short positions on the Goldman disappointment this morning, and flattened out the metals longs into the close.

Silver is a dreadnought and I would find it hard to bet against it even at this lofty level. Gold is running into stiff resistance here in the 1500 to 1510 level. It tagged the short term measuring objective on our chart today. Whether it will higher and break through before consolidating its gains I cannot say.

JESSE’S CAFÉ AMÉRICAIN: Riding the Silver Bull: Worry If It Gets to Triple Digits This Year

I had quite a few questions on this topic of when to sell silver this evening, based on a comment I made with the normal gold and silver charts. I indicated we could see a pullback and consolidation, and it might be ‘impressive.’ I was thinking of support around 40, maybe 38.

JESSE’S CAFÉ AMÉRICAIN: The Much Abused Spirit of Contrarianism

Should one seek the most despised trade, the least loved asset, and buy it in the spirit of Contrarianism? Act ways uncommon in princple of simply not following the herd?

FT Alphaville: Royal Wedding markets, then and now

And so it begins. The first Royal Wedding investment-related PR research.

Econbrowser: Keystone Gulf Coast Expansion Project

If President Obama is looking for ideas that would build American infrastructure, create jobs, and reduce the budget deficit, here’s an option to consider.

Reuters: Only toughest thrive in Glencore’s trading culture

Many top traders live almost permanently out of suitcases as they move between the group’s more than 50 offices in 40 countries, foremost among them in Switzerland, the U.S. East Coast, London, Rotterdam, Beijing, Moscow and Singapore.

The Slope Of Hope: Veritas

This entry was posted on Wednesday, April 20th, 2011 at 7:18 am and is filed under Daily Reading. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

Comments are closed.


Get Adobe Flash player