Market Direction: Above 50 Day Line Targets $15.50 for Silver AB Foods (ABF): Above 200 Day Line Targets Towards 3,400p Initially One of the great mysteries of our age is of course how Jeremy Corbyn became Labour Leader. The other is how AB Foods continues to operate as a weird combination of a sugar producer…
Following on from my last blog post, I’m looking at the US insurance market. The US has been hit by lots of insured losses this winter, thanks to El Niño – like Brian, he’s a very naughty boy! Again we’re seeing the same sector failure we’re seeing here in UK insurance. In this case a…
Last October the Met Office issued a report that said the next two years will be the hottest on record. They also said this winter would be cold here in UK, which I dismissed by using TA. I was right. But their major claim, a generally warmer planet, is quite plausible, and that means one…
Market Direction: $1.08 – $1.10 Range Remains on Euro / Dollar Glencore (GLEN): 50 Day Line Reversal Zone It has to be admitted that I am not the world’s greatest fan of Glencore. The whole stock market history of the company is not exactly one that warms the heart (or, indeed, the bank balance). The…
Market Direction: Above 4,100 Leads Back to 4,500 on Nasdaq 100 Imperial Tobacco (IMT): Price Channel Target as High as 4,000p Although it may be the case that on a fundamental basis shares of Imperial Tobacco may appear to be a little too 20th century for some, the trend on the daily chart does look…
Yesterday evening I attended the Lord Mayor’s Annual Gresham Event which was entitled “London: The Global Maritime Centre in a Changing World”. This is a pet subject of the current Lord Mayor apparently, as he is actively involved in shipping. He addressed the well populated Guildhall Library looking like an ageing Beastie Boys fan with…
Market Direction: Front Month WTI Crude – Above $30 Targets $36 Anglo American (AAL): Wedge Breakout Implies Return to 314p The sad story of the mining sector in recent months and years is that it really has not been an area for widows or orphans to participate in. The trick here was clearly to work…
If anyone remembers the Market Sector Cycle that goes through the market ‘seasons’ – early expansion, late expansion, early contraction to late contraction and so on – then why don’t we see much of it these days? Well, probably because like all ‘economic’ theories, once they’re discovered they don’t work anymore – but also because…
The best description I’ve heard of a bank is “someone who will lend you an umbrella, but if it starts to rain they’ll want it back”. Pretty accurate. I’ve not touched banking stocks in April 2007. After the credit crisis I remarked, as regular readers may know, that there would be no point investing in…
10 Market Direction: Dax Bullish Divergence Targets Back Towards 10,000 Barclays (BARC): Heading Below 150p Something we have grown accustomed to since the beginning of the 2000s is the way that dips below 6,000 on the FTSE 100 are dips to buy into, with the typical pattern being a quick decline below this zone lasting…
