Tag: government spending

What is going to happen with the debt?

Posted on by The INO.com Team

Hello fellow traders everywhere. Adam Hewison here co-founder of MarketClub with your weekend trading update for the week ending on 7/29/11.

Out of the six markets we track every trading day, five markets were in negative territory for the week. The only market that did not end up in the minus column was gold which moved up 1.40%.

The percentage loser for the week was S&P500 which moved down 3.69% and is on the verge of breaking out to the downside. The markets continue to wait and  wait and wait to see what is going to happen with the debt.

Let's take a look at the charts, because unlike politicians, they tell you what is really going on in the world.

So here's what happened last week in the major markets…. Continue reading "What is going to happen with the debt?" →

Just Four More Days To The Debt Deadline

Posted on by The INO.com Team

Hello traders everywhere!  Adam Hewison here, co-founder of MarketClub with your 1 p.m. market update for Friday, the 29th of July.

Just four more days to the debt deadline.  I'm guessing that it is an artificial deadline made up for political reasons.  I am positive that this is just an arbitrary date that some policy wonk came up with to get everyone up in arms about doing something with the debt.

I believe Warren Buffett had the best idea on how to end our debt problems.  Here is what Warren had to say:

"I could end the deficit in five minutes.  You just pass a law that says that anytime there is a deficit of more than 3% of GDP, all sitting members of Congress are ineligible for re-election."

Way to go Warren!!!

Well, we have made it to the last day of the trading week and the last day of the trading month.  The equity markets are, as of this writing, sharply lower for the week and also the month.  Gold and Silver on the other hand, are sharply higher for the week and the month.

As we have been indicating, we felt the equity markets were rolling over to the downside.  Technically we are getting closer to pulling the trigger on our major monthly Trade Triangle which sets the trend for the equity markets.

Now let's take a look at what the markets are telling us and the direction they're taking on this last trading day of the month.

Continue reading "Just Four More Days To The Debt Deadline" →

Will The Market Rally Today?

Posted on by The INO.com Team

Hello traders everywhere!  Adam Hewison here, co-founder of MarketClub with your 1 p.m. market update for Thursday, the 28th of July.

Let us not overlook the the importance of the dramatic fall in equity prices yesterday.  We do not believe that it was a one day event.  Certainly a move of over 2% in one day to the downside cannot be seen as a positive in anyone's book.

I could go on and on about the debt ceiling crisis or the lack of resolve, but it seems pointless.  I think the market is just going to generally roll over to the downside.  I do not see any strong rally today.  I think even when they come out with a resolution it's going to be viewed as negative and not enough and we will see the market once again be on the defensive.

The pressure on Silver and Gold earlier today is the first sign of profit taking that we have seen.  However, both markets remain in an upward trend.  Crude Oil continues to be trapped in the broad trading range that we discussed in previous broadcasts.

Let's go to the Markets!

Continue reading "Will The Market Rally Today?" →

Where Will The Markets Close This Week?

Posted on by The INO.com Team

Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your 1 p.m. market update for Wednesday, the 27th of July.

It really upsets me when we export US jobs overseas. Case in point: General Electric just shipped a ton of jobs out of Wisconsin to China. I can understand some things, but the person who is in charge of creating jobs for the President of the United States is Jeffrey Immelt, who just so happens to be the president of General Electric. So here we have someone who is “The Official Job Creating Czar" shipping good American jobs overseas to China. Does that make any sense to anyone? Oh, and I might also point out that General Electric paid zero taxes in the U.S. last year.

How much did you pay in taxes?

How are the markets reacting with just 2 days left before the end of the month? The equity markets are remarkably flat so far for July. It's a different story for Gold and Silver which had the biggest gains last month with a 9% move up in Silver, and a positive gain over 7% for Gold. Crude Oil was up 2.47% in July, which closely mirrored the Reuters/Jefferies CRB Commodity Index which managed to move up 2.67%

Let's go right to the markets!

Continue reading "Where Will The Markets Close This Week?" →

It Just Gets More Bizarre!

Posted on by The INO.com Team

Hello traders everywhere!  Adam Hewison here, co-founder of MarketClub with your 1 p.m. market update for Tuesday, the 26th of July.

Just when you thought it couldn't get any more bizarre... The markets are now totally perplexed at the direction Washington has taken and the lack of any decisive action.

I'm not sure if you watched the presidential address and the Republican rebuttal last night, but what an example of two houses divided!  It was painfully evident that each man was just playing to their political bases.  Pure Kabuki theater.

I always enjoy a good comedy, but this D.C. comedy has gone beyond a joke and is no laughing matter.  It's turning into a tragedy not just for the American economy, but also for America's mystique overseas.  How these two parties can honestly look themselves in the mirror and say they're doing the right thing for the country is beyond anyone's belief.

One of my technology heroes is Steve Jobs, the leader of Apple.  Steve coined the phrase "reality distortion field" (RDF).  It was Steve's ability to convince himself and others to believe almost anything with a mix of superficial charm, charisma, bravado, hyperbole, marketing, appeasement, and persistence.  Unfortunately, neither the President nor the speaker of the house, John Boehner could pull off a reality distortion field last night.  Too bad for both of them, and too bad for the country.

So without further ado let's get off this rant and go right to the markets!

Continue reading "It Just Gets More Bizarre!" →