Thursday, April 29, 2010

Market Update (SLV, INR, PSI20)

Good night!

The market today was very interesting. Generally speaking was a fine day for most markets...
Let me show my trend follower status for the SLV, INR and PSI20 chart.

1) Silver (SLV)

SLV had a nice breakthrought today, as it broke a strong resistance that was formed around the "psychologic" 18.0 level. However, nothing is already settled here, but a nice move had been made for sure! Today's volume was nice and seems to be no divergence in the RSI indicator. The stochastic oscillator is in buy mode too. The MACD grew and is almost green. In the walls of worry I see the prices touching the upper bollinger band and I'm watching how the SLV will perform until the 12th of May (there is a cross that day from two of my chart lines - call me crazy :P).

My trend follower is right now in the 17.59 level for a new sell signal.

2) India (INR)

India is my fetish market and I'm very confident that I'll be very happy in the near future with my longs!

My trend follower here is in the 12.36 level and the INR is at 12.23, so a new buy call my happen very soon. Regarding the daily indicators I see no problems for the longs and new highs are very likely.

3) PSI20

Our portuguese index has been smashed by traders in the last sessions, after the Standard and Poors rating agency dropped our rate. Just check how my trend follower caught that down move!!! It's amazing its performance :)
I'm writing today about it because, in spite of my trend follower is still in sell mode, I see nothing more than 3 clear signals for a buy call! The RSI climbed above the 30 level, the stochastic oscillator is now in buy mode and, more interestingly, there is a buy signal from the lower bollinger band! These are very reliable signals and I see no other option for the PSI20 than a short term very profitable trade!

Play your cards....I'm plying mine!

Sunday, April 25, 2010

Silver Up To Date

Hello people,

Allow me to update my silver trend follower. This week brought another trend change in my optimized follower. This time we were presented with a new buy signal, after the sell call caused by last week's sell off.

The daily chart looks like this:

For the second time in a row my trend follower acted last week as a trailing stop. However, this week provided us a new buy call and friday's candle looks pretty good in the chart. In spite the MACD is still red and the stochastic oscillator is still in a sell, the RSI has no negative divergence with the prices, so I feel like this coming week may be very good for longs (longs...not bulls! Some months ago I gave up on seeing the market as a "bull vs bears battle"...for me there's only one thing now: trend following! I don't care if prices go up or go down, as long as I can identify those moves as a trend).

The weekly chart currently also looks pretty fine for longs:

Weekly speaking, silver is rising from a MACD buy cross condition. The past has shown us that this crosses are very reliable and so the probability of success is very high right now. Who didn't buy silver yet is still on time to make a move. The stochastic oscillator is still on buy mode and the RSI, with no negative divergence, has yet some room to allow a strong move up for the next weeks. The one and only thing worrying me here is the low volume of last weeks.

That's all for today.
Trade safely!

Sunday, April 18, 2010

Let that chart speak for itself

Good afternoon,

Stocks plunged hard last friday and my trend follower caught that drop just in time. In the case of silver the new buy threshold is at 18.47, which is a level not reached since last January, so get caution!

Indicators are taking some breath right now and, if this really is a bull market, dip buyers will start to enter the market again.

Take care,