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GDXJ: The Song Remains the Same

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GDXJ is satisfying our 39.50/40 target projected over a month ago. This is 180 degrees up from the December low of 27.37. That seems a long time ago. It’s easy to extrapolate higher prices in the emotion of momentum. And, of course, GDXJ may have substantially higher projections. But this looks like a point of […]

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T3’s Trades of the Week: Jeff Cooper’s NFLX Long

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Welcome to the latest edition of T3’s Trades of the Week! Let’s dig right in to this week’s trades and analysis: 1) Jeff Cooper’s Netflix (NFLX) Long NFLX is tracing out a 180/Bull Flag pattern and I’m looking for a long day trade entry at $140.80 with a $1.50 stop. 2) Scott Redler on Facebook […]

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Chart Attack: SPX and FAS

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Last week was a bit of an erratic one… We started with a bull trap and then found support at the accelerated trend line, and on Friday the jobs report and news of Dodd-Frank repeal helped gap the market up and reclaim the 2287 area. Now we see if price can hold above that to […]

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T3’s Take 3: Mixed Jobs Report, Stocks Rally

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1) Mixed Jobs Numbers This morning, the highly-anticipated January nonfarm payrolls report hit the wires. 225,000 jobs were created in January, easily surpassing the 175,000 consensus. However, average hourly earnings grew just 0.1%. Economists had forecast a 0.3 increase. The unemployment rate was also higher-than-expected at 4.8%. This comes just 2 days after the Fed […]

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Forex Market Update: What’s Happening After the Jobs Report?

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The jobs report is out and the dollar is falling in response. The EURUSD was on the slide this morning but following the jobs report has been able to bounce. It is inching above resistance which potentially puts it back on the bullish radar. I am going to give this some time before looking to take […]

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Scott Redler’s Tech Stock Analysis

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High-beta tech has changed a bit. Most names failed around their highs after earnings. They had big runs into the print and the reports weren’t strong enough to keep them moving. AMZN earnings were a little disappointing. I had a big options position on that will be worthless. It happens. Risk is premium paid. It was […]

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Jeff Cooper: Trump, Greenspan, and Pre-Emptive Strikes

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On August 11, Alan Greenspan was sworn in as Chairman of the Fed. The market peaked 2 weeks later. Following a runaway move, Greenspan fired a pre-emptive strike against inflation fears by raising the Discount Rate by 50 basis points. On Saturday, October 17, 1987, Treasury Secretary James Baker told the Germans to “either inflate […]

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T3’s Take 3: Wasn’t the Brexit Supposed to Be a Disaster?

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1) Wait. Wasn’t the Brexit Supposed to Be a Disaster? This morning, the Bank of England left interest rates unchanged as expected. However, the central bank raised its 2017 and 2018 growth forecasts and said the weak pound would create greater-than-expected inflation. This supports the notion that the Brexit is not the economic disaster many […]

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Connecting the Dots

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Below is the daily chart of the SPX from January 2016. Note the intersection of a green trendline connecting the Feb low in 2016 with the late June low at the December pivot high and a red trendline connecting the April  2016 top, the August 2016 top and the December top. This suggests the recent […]

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SPY and FAS Chart Updates

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At least it’s methodical… Monday gave us an island top that pushed out some active momentum traders. Tuesday we re-tested the accelerated trend line with an RDR entry around $226.41. Yesterday, the SPY pushed above $228.20 giving some active longs a spot to take profits. Those looking to re-short also got a scalp when it […]

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