Posted by Highchartpatterns The bulls kicked ass today on this reversal. The opportunity today was plentiful and we are kicking ourselves by not being more aggressive in our own picks. Here are the support longs from our newsletter last night — out of all of them only one closed lower. The arrows were the buy spots: A Great Newsletter for...

By Jeff Clark, Casey’s Gold & Resource Report How many IMF officials does it take to change a light bulb? As you probably read, the International Monetary Fund announced they would proceed with selling the remaining 191.3 tonnes of gold from the 403.3 tonnes planned. The money is to be used for lending to poor countries. Lending implies the money...

by Tyler Durden To all who trade this manipulated lunacy, you have our sympathies. A 1% market move equates to well over $100 billion in market capitalization. And this value just materialized because Apple stock will (allegedly) be $50/share instead of $200, so the quadrillions in cash on the sidelines can buy buy 4 shares where before they could buy...

By Phil at Phil’s Stock World Yay, more free money! Oh not for you (unless you are a banker) but for all of Ben’s best buddies as the Fed Chairman promised yesterday to maintain “exceptionally low levels of the federal funds rate for an extended period.”  He can do this because, according to Bernanke: Increases in energy prices resulted...

It’s been about eight days since we did a video on gold, and given the market action today I thought I would look at what is causing the downward pressure in this market. If you did not watch my last video on gold, I strongly recommend you click here to watch the video titled “Five Reasons Why Gold Will Not Make a New High This Time”...

This week has been playing out as we expected. Last week we saw the market rally on light volume into a resistance zone on the daily chart. Light volume rallies are always a warning sign, much like the “Calm before a Storm”. The way I look at bearish price action: The First Heavy Selling Volume Day – I see this as large institution selling massive...

Vincent Fernando of Money Game The Department of Labor’s (DOL) measure of initial jobless claims for the week ending February 20th was reported today as a seasonally-adjusted 496,000 vs. an expected 460,000 from consensus. — DOL: SEASONALLY ADJUSTED DATA In the week ending Feb. 20, the advance figure for seasonally adjusted initial...

Courtesy of The Pragmatic Capitalist The market’s love affair with Ben Bernanke continued today as stocks rallied on the release of Bernanke’s written testimony.  This was in the face of some pretty bearish news.  New home sales data was very weak this morning coming in at 309K vs the expected 360K.  This was a new low for home sales.  It...

Dan Frommer of Silicon Alley Insider Consumers know Google primarily as a search engine, but for years the company has been trying to diversify into new products, including email, Web apps, mobile phones, and YouTube. But in reality, Google is still the world’s biggest ad-driven media company.  And the vast majority of its ad revenue still comes...

Marc Sperling of T3Live With Amazon (AMZN) basing nicely above that large breakaway gap from October, we now have a great opportunity for a good risk/reward setup on a swing long. Take a look at a daily chart to see this action: The stock broke through that aggressive downtrend line and is now building a solid base. Now let’s look a little closer...

Elliott wavers sometimes hear the criticism that patterns in market charts can be “open to interpretation.” For example, what looks like a finished 1-2-3 correction to one analyst, another analyst may interpret as 1-2-3 of a developing impulse, with waves 4 and 5 on the way. Does this happen? Absolutely. (Although, there are always...

Zero Hedge By the thinnest of margins, the SEC just voted 3-2 to institute the short-selling rule which will put curbs on shorting individual securities that fall over 10% in any one day. Dow Jones points out that even market decisions are now split according to party lines: “Republican Commissioners Kathleen Casey and Troy Paredes said Wednesday...

The Mess That Greenspan Made In this item from yesterday, Jake over at ECONOMPICDATA breaks down yesterday’s sharp decline in consumer confidence as reported by the Conference Board. Recall that the Present Situations Index fell to its lowest level since 1983 and the Expectations Index dropped more than 13 points to 63.8, far short of the levels...

Joe Weisenthal of Business Insider Here it is folks, in all its glory! Depending on your point of view, this clip could be titled: Ron Paul Shreds Bernanke or Bernanke Shreds Ron Paul! In the clip he talks about Iraq, Greece, and Watergate. Seriously, he asks about whether the cash used in the Watergate was somehow facilitated by the Fed. Bernanke’s...

The Reformed Broker One of my favorite reforms instituted by Mary Shapiro‘s new SEC is the curtailing of the Broker Proxy Vote. I’ll explain briefly and then we’ll talk more in depth about how huge this is tonight on Stock Wars. Essentially, each Proxy Season, corporations send their ballots out to shareholders.  The problem is, only...