Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Buzz and Banter


Yesterday I wrote that the dollar isn't necessarily today's business, but it looks like that has suddenly changed. The Sep. contract has given its first sell signal on the point & figure chart since June. Nearest chart support comes into play in the 94.40-94.50 area.

In other news and views, the August gold contract will break through trend line resistance with a tick at 360. More importantly, silver is confirming the move in gold, or perhaps it's the other way around. For the Sep. silver contract 492 was a pretty important line in the sand on the upside, but today's move barely blinked going through that former resistance level.

Amazon (AMZN: NASD) has enjoyed a pretty nice move since reporting last night, but in point & figure technical terms that's about it -a pretty nice move. It will need to tick at 41 to confirm a new buy signal. For now, it's simply trading at the top of its recent range with support unchanged in the 33-34 area.

Yesterday International Business Machines (IBM: NYSE) was notably droopy, dawg. It's slightly better today, but a move to 81 violates an important uptrend line from the October lows. On the upside resistance is at 87.
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Featured Videos