Buzz of the Street: Market Euphoria Near Dow 10,000
Some of this week's most insightful and timely vibes.
All day and every day, some of the stock market's best and brightest traders and money managers share their ideas, insights and analysis in real-time on Minyanville's Buzz & Banter. Check out some of the best of the buzz and for those minyans not currently subscribed, click here for a free two-week trial.
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Monday, October 12 2009
WYNN or Lose
By Jeffrey Cooper
A 10 minute chart of Wynn (WYNN) with a 3 day look back shows a 1-2-3 Pullback to resistance near its 50 period m.a.
What makes this interesting is Friday's outside down day and this morning's pop up opening which was sold into.
The picture smacks of distribution.
Click to enlarge
Click to enlarge
Tuesday, October 13 2009
Gold and Silver Exhaustion Signals Continue to Accumulate
By Kevin Depew
Gold will record a daily TD Sequential sell signal today. A confirming bearish price flip will occur tomorrow with a close below 1055.10, Thursday with a close below 1049.25, Friday with a close below 1057.10.
On the weekly, gold recorded a TD Sequential sell signal the first week of September that remains active and is on bar 12 this week of a TD Combo sell signal.
The monthly recorded a TD Combo sell signal in September.
The quarterly remains on an active TD Sequential sell signal.
Silver also has active daily TD Combo and TD Sequential sell signals. The weekly will record a TD Combo sell signal this week and the monthly perfected a sell setup last month.
The Gold Miners ETF (GDX) recorded a weekly TD Combo sell signal last week right at a disqualified TDST Up level at 49.
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