Archive for November, 2010


I absolutely love how people consider AMZN, GOOG & AAPL competitors of NFLX because they too offer streaming videos. Seriously, just because my dad owns a grocery store does not automatically make him a competitor of Walmart. I have yet to come across an individual who has paid money to stream movies/shows/videos on AMZN or AAPL yet I can walk outside right now and ask 10 people if they have watched anything on their TV via Netflix and I am bound to get more than one yes I have. NFLX’s market cap of almost $10 billion rivals some of the biggest names in the S&P 500 and is the darling of Wall Street. NFLX is a market leading company in the space for entertainment going into the future and this isn’t the first time Netflix PE has jumped into the stratosphere and it probably won’t be the last.

Dian Chu said it well with “So far, it has been smooth sailing for the California-based company. Netflix went public in 2002, and its mail DVD rental with no late fees model essentially sent Blockbuster packing into Chapter 11 (albeit a lot has to do with Blockbuster’s inability to adapt to new trend and technology.)

In addition to the mail DVD rental business, Netflix also has morphed into a formidable internet content provider, setting itself apart of the competition by successfully rolling out a slick Internet video streaming service in 2008, directly to a subscriber’s TV set, bypassing the cable box.

Netflix stocks has really taken off since 2008 — up 800% in two years (see historic chart), as Netflix was probably one of the very few companies that were growing and profitable during the Great Recession”

MarketClub has a very interesting take on how NFLX is positioned going forward. For a limited time they are offering a FREE no strings attached NFLX stock analysis sent directly to your in-box. Just grab your FREE NFLX Report Here.

FREE NFLX TRADING REPORT


Vetro closed up 14.45% on Friday to finish the day at $6.81. VTRO’s its live toolbar user base topped 10 million for the first time in the company’s history, an increase of more than 11% since its September 30, 2010 reported metrics. Of these 10 million live toolbar users, 5.1 million were ALOT users from region one, 4.8 million were ALOT users from the rest of the world, and 0.1 million were users of the company’s legacy toolbar product. We believe that the cost to acquire appbar users and operate the appbar service will not be materially different from the cost to operate and market the legacy ALOT toolbars, but the revenue stream produced over its installed lifetime could increase dramatically.

We here at The Market Guardian believe that the new Appbar is going to be a HUGE SUCCESS and surely will have a major positive impact on Vertro’s bottom line as we go forward into 2011. Also we could see a significant acceleration of Vertro’s growth rate as the company is able to be more aggressive in its customer acquisition campaigns based on the higher revenue generated by the new appbar users.

“We’re proud to have reached this significant milestone, and with the continued success of our global expansion,” commented Peter Corrao, Vertro’s President and CEO. “With Black Friday, Cyber Monday and the rest of the holiday season right in front of us, we believe now is a great time to have achieved this new high point in our global toolbar user base.”

We see a reasonable price target of $10.00+ moving into 2011.

Marketclub has a very interesting take about VTRO and is offering a limited time offer for a FREE VTRO stock analysis sent directly to your in-box with no strings attached. Click Here Fro Your FREE VTRO Report.

FREE VTRO Stock Analysis Here


by Tyler Durden

The fact that looking at market performance on a nominal basis (i.e., unadjusted for the decline in purchasing power, or the increase in hard asset prices) is foolish, has recently been understood by even some of the most garish financial tabloids. That said, Ben Bernanke could not be happier if the general public remained broadly dumb about the so-called Zimbabwe phenomenon: i.e. when the stock market goes up by a billion percent, yet purchasing power drops by a trillion. Which is why today we present a visual projection by Sean Corrigan of Diapason Securities, which looks at the S&P on a trade weighted basis, and which looks at the various market cycles not so much from a stock/PE boom-bust basis, but from the view of monetary strength of the underlying currency backing the US stock market, namely the dollar. Corrigan says: “Remember that it never does to get carried away by nominal prices, meaning one should always try to adjust for either or both of currency changes and alterations in the purchasing power of the cash in which an asset is quotes. On that first reckoning, asll you triskaidekaphobes might want to review the prospects for the S&P500, where a 50% loss of dollar-adjusted value over the next year or two, would just be neurologically exact for words.” Why 50%? As the chart below shows, a 50% real retracement in stock prices is precisely where the downward channel of the lower lows of the S&P would take us. What that wouold mean is that by October 2012, the S&P will hit approximately a 20 year low. Considering all the monetary fornication that the chairman has embarked on vis-a-vis the middle class and the US currency, we will be lucky if in 2 years the market IS down just 50% adjusted for the amount of KY poured down (or as the case may be, up) the appropriate middle class orifice.

How To Trade Market Sentiment

What is most  interesting, as Corrigan highlights, is that over the past 10 years the standard bubble/burst cycle, adjusted for trade weighted terms, is one of 50% moves pretty much consistently. Of course as even the most introductory classes demonstrate, in the long-run a sequence of 50% up/down moves eventually tapers off to asymptote (i.e., zero).

  • Tech – August 2000 +54.8%
  • Gulf/WorldCom – March 2003 -46%
  • SubPrime/CDO – May 2007 +49%
  • Lehman/AIG – February 2009 -49.1%
  • QE-China – April 2010 +45/3%
  • EM/Eurozone/US Muni – 2012/2013 -50%?

And the pretty chart to go with it all:

FREE Weekly Gold Updates HERE


By Doug Casey – The Eight Ps of Resource Stock Evaluation2504


I’ve been asked “What’s the secret of finding winning gold, silver, and other natural resource stocks?” more times than I can even begin to count. And for over 20 years, my answer has remained pretty much the same: the Eight Ps.


The Eight Ps is a relatively simple question-and-answer process we use as part of our due diligence on the stocks we consider for recommendation in our monthly newsletters. Only a small fraction of companies successfully make it through the Eight Ps screening and into the pages of our publications.


As you’ll read, the Eight Ps process is relatively simple and, with a little practice, you, too, can use them to screen any and all resource stocks you are considering for your portfolio. At the very least, answering the questions will give you a much better understanding of the true potential of a company.


PEOPLE


The first question you want answered is “Who are the key players involved with the company?”  As is the case with all human beings, some are more skilled, more honest and harder working than others. To state the obvious, Boy Scout virtues like honesty, thrift, courage, and diligence are always good traits for your management teams, as are competence, knowledge, experience and, perhaps most importantly, a track record of success.


You can find this information from a variety of sources, starting with management biographies (increasingly available on company web sites), then doing your research by talking with the managers themselves or their investor relations staff. Use a service like Stockwatch.com to research the track record of the companies that the management has been involved with previously (during their tenure, of course)… and don’t hesitate to ask your broker or even competitors what they think about the people in the deal.


Despite being a multi-billion-dollar, global business, the mining and resource industry is actually a pretty small village. If someone is a known snake oil salesman or poseur, chances are good you’ll be able to ferret out that fact with just a couple of phone calls.


In addition to trying to sort out the black hats, a key goal of this exercise is to find out if investors have made money in their past deals. Or, if things didn’t work out too well — mining is a high-risk business, after all — did the company at least make an honest attempt to “do the right thing” for their shareholders? Remember, nothing succeeds like success.


While we are on the topic of People, it is worth noting that there has been a noticeable gentrification of the mining business during the 20-year-long bear market that ended in 2001. Everyone in the business is complaining about the fact that they can’t find qualified mining engineers and exploration geologists because so many have retired or are getting ready to. It is
understandable: it would take a fairly odd engineering school graduate to opt in for what is perceived as a politically incorrect and faltering “Choo-Choo Train” industry, rather than taking their degree down the street to a more lucrative or modern line of business.


As someone who habitually looks for the opportunity embedded in just about any crisis, we use the labor shortage as a useful leading indicator by watching the career moves of the superstar mining pros. The good ones are in such demand that they can work for pretty much any company they want to… and so, as is human nature, gravitate to those projects which they
believe will provide them with the best personal upside.


Conversely, if the good people start to jump ship from a company, it may be a negative indicator. In the final analysis — bet on the winners.

—-
[Though hugely important, “People” is only the first of the 8 Ps the Casey team uses to gauge winning resource stocks. To learn how to put the other seven Ps to good use for your own portfolio, click here to read our FREE Special Report.]


The past week and a half has been as choppy as it gets for the stocks market. Thankfully the herd mentality (fear & greed) stays the same. Understanding what others think and feel when involved in the market is one ofthekeys to making money consistently from the market. The crazy looking chart below I will admit is a little tough on the eyes, and I should have used red and green for holiday colors but green just was not going to work today so bear with me .

Market Internal Indicators – 10 minute, 7 day chart
This is a simple chart to read if you understand how to trade these market internal indicators (NYSE volume ratio, NYSE Advance/Decline line, and Total Put/Call ratio).

It shows and explains how I get a read on the overbought/sold conditions in the market. There are several other criteria needed to pull this trade off but it is these charts which tell me to start getting ready to take partial profits, buy or take short positions.

The top section shows the NYSE volume ratio line. When the green line spikes is means there are more sellers than buyers by a large amount and I call this fear. On the other hand when he red line spikes it shows everyone is chasing the price higher because they can’t stand the thought of missing another rally. I call this greed or panic buying. You buy into fear, sell/short into greed.

Important point to note though… We are getting another sell/short signal here (Wednesday) but knowing Friday will be light volume and knowing that light volume means higher prices, I think we should get a better opportunity to short this new down trend next week at possibly a higher level. The market may have a short squeeze in the next 2-3 days. Just so you know, a short squeeze is when the market breaks to the upside on light volume forcing the short positions to cover. This creates a pop in price, only for it to drop quickly after. But, if we get a pop with solid volume behind it, then we could just see the up trend start again and we would then look to play the long side. Only time will tell…

Rising Dollar & Gold – I Don’t Get It?
That is the question everyone seems to be asking this week. I think what we are seeing is straight forward. Traders/investors are selling Euros because of the issues overseas and are buying the dollar along with gold and silver.

Generally when the dollar raises gold drops, but they are both moving up in sync, and really I don’t see the problem with this as it has happened many times in the past. Currently I am neutral on gold and silver because of this situation though. I feel something is about to happen in a week or so that will change things in a big way.

Mid-Week Gold, Dollar & Stock Trading Conclusion:
In short, the equities market is now in a down trend and overbought here. It’s prime for a short position but with the holiday, light volume Friday, and most likely a follow through buying session on Monday I think its best to sit in cash without the stress of wondering what will happen on Monday. Just enjoy the holiday.

Recently members had a great short play locking in 2.2% gain on one of our positions this week as we shorted the market using the SDS inverse SP500 ETF. We also continue to hold two other positions with a 22 and 24% gain thus far and I think going into year end things are really going to heat up.

Get My Free Trading Guide Book and My Free Trading Ideas Here:http://www.thegoldandoilguy.com/trade-money-emotions.php

Chris Vermeulen


Stocks were back on sale Tuesday when the S&P 500 suffered more than a 1.40% decline by the closing bell. Some market prognosticators pointed their fingers at the dollar, other pointed at the Korean situation, and still others had their eyes fixed on Ireland and the Eurozone as potential causes for the sharp selloff. The S&P 500 is currently oversold on the short term chart and either a bounce or period of consolidation is likely. At this point, chasing stocks in either direction will only satisfy the desires of the smart money, who will likely blow these anticipatory traders into trading fodder in coming weeks.

Right now, patience is a must. The day before Thanksgiving is synonymous for light volume as are most days preceding a holiday. Thanksgiving leads us into the holiday season which typically is characterized by low volume until after the New Year. As most traders know, when volume is light the market typically has a positive bias. I would not be shocked to see U.S. stocks trading higher Wednesday and/or Friday.

While the short term charts are oversold, the longer term charts continue to have a technical bias to the upside assuming the 50 period moving average does not get violated. Time will be the final arbiter as to whether this correction is relatively mild before stocks continue higher, or if this is the beginning of a larger correction.

S&P 500 (SPX Daily)


Gold (GLD Daily)

At this point in time, gold is forming a possible head and shoulders pattern on the daily chart. While it is too early to determine if the pattern will play out, if the expected price action confirms the head and shoulders top then the measured move would indicate price levels around the GLD 120-122 area will likely be revisited. Currently gold and the GLD trading ETF are  not offering a great risk/reward entry from a long or short perspective, and even if it were I would simply watch the action unfold until we get confirmation that the head and shoulders pattern is going to either be confirmed or fail. Caution is warranted and risk remains high.

Oil (USO Weekly)

USO has been in a consolidating pattern for well over a year and it continues to build this monster base between the 32 – 42 price levels. When this base is finally broken, a major move in oil will likely be underway. I am expecting that price will get close or test the bottom of the range for an outstanding low risk long entry using the bottom of the base as a backstop for risk definition. It is hard to say where price is heading in the short term, but from a fundamental perspective oil has some positive bias with increasing demand coming from emerging markets and a slowdown in future supply.

The Banks (XLF Daily)

Recently the XLF ETF (the financials) had a breakout of a long-term consolidation pattern which has failed. With that failure, the broader markets have sold off from recent highs. If the XLF and KRE continue to be under pressure, it is unlikely that the broader market as a whole will continue higher. It is critical for traders to follow the financial sector because the broad markets will go nowhere without their participation.

Like it or not, our financial complex has to be healthy in order for our economy to improve with any lasting effect. If banks are not lending, then it is safe to say the economy is not expanding at a fast pace. If the banks are not profitable or are not consistently growing their revenues, this would again be a negative indicator regarding economic growth.

There are a lot of analysts who are showing concerns over future profitability amid countless issues which include mortgage defaults, over exposure to commercial real estate and development loans, and potential prosecution in lieu of the way the large money-center banks handled foreclosures. Additionally, companies like PIMCO and other investment firms are attempting to return the mortgages they bought back to the banks through legal action which could lead to further losses. While the outlook is certainly not great, I would not expect any powerful rallies if financials are not following along.

Conclusion

With the shortened holiday week, I will not be offering an option trading setup. I am simply watching the price action and sitting in cash. When volume is this light, the markets generally have an upward bias and with the large selling volume we witnessed on Tuesday, a bounce is likely overdue. Until the S&P 500 gives up the 50 period moving average, we remain in a technically constructive pullback which could potentially lead to higher prices. If we get a daily close on the S&P below the 50 period moving average, all bets are off.

In closing, I hope this find you well and I wish all of you and your families a safe and Happy Thanksgiving!

If you would like to receive my Free Options Strategy Guide & Trade Ideas join this free newsletter: http://www.optionstradingsignals.com/profitable-options-solutions.php

J.W. Jones


Perception Is Everything……

It’s more important to the market than Ireland, Greece, Portugal, and Spain combined

The trials and tribulations of these four countries (that have run up huge deficits) have been well known for quite some time. What is more important in my opinion is not the size of the debt, which is staggering, but rather what is going on with market perception.

Market perception trumps everything else out there. Market perception trumps market fundamentals every time. Market perception is the one card that the government cannot control. It is the card that can potentially give the individual trader an edge.

So what is market perception? Well, have you ever noticed that when some big world event happens, or a new “hot” IPO hits the markets, traders expect that market to go in the talked about direction and typically it does. What doesn’t get talked about is how the market then corrects itself and the technicals really come into play.

The only real way to avoid the trap is through the use of technical analysis, or in the case of MarketClub, our “Trade Triangle” technology. This technology doesn’t read the newspapers, doesn’t watch cable news, and is independent of everything else except the market itself.

What is the most important thing to most investors? I would have to say it is the bottom line. If you’re not making money in the market, then you’re doing something wrong. Maybe you’re paying more attention to the talking heads on cable, or to the nightly news, but you’re not really paying attention to market perception.

I was lucky enough when I began my career to learn about technical analysis very early on. I said to myself, when it can be this easy there must be something more that I’m missing. It was then that I made the mistake of looking at all these other so-called tools like fundamentals, earnings reports, etc. You name it, I looked at it.

One day I finally got smart and realized that I had already found the “true gold” in trading by using technical analysis.

I was just watching some talking head author on TV and they were saying that technical analysis is so 1920′s and old technology. Of course, the person who was saying that was looking to sell copies of their book.

I said to myself, boy oh boy, not to look at technical analysis, which is like the DNA of the market, is a huge mistake. I can see people going out and buying this author’s book and being led down the wrong path. I will not name the book as readers of this gobbledygook are going to spin their wheels only to find that it really doesn’t work.

Let’s keep things simple. That is the secret to successful trading.

Click HERE To View The Video

At MarketClub we tend to look at the market in a very simple fashion. Let me explain; the market can only do three things: it can go up, it can go down, and it can go sideways. In life there are very few things that you can simplify as easily as that.

So using MarketClub’s “Trade Triangles” you are able to determine when the market is going up, in which case you want to be long, and when the market’s going down, in which case we want to be short or out of the market.

Now of course we do filter the “Trade Triangles” of MarketClub to help avoid trading losses. With any kind of trading or investing program the risk of loss is always there. The key to success is how you manage those losses. Are the losses small enough as to not bite into your capital in a major way?

Again, when you’re looking at market fundamentals or other ways to trade, they really don’t tell you when to get out. Obvious examples of this would be the Enron scandal or the recent GM debacle that took unwary investors to the poor house.

But it’s hard to fake a market saying everything is great, when the market is heading south. So what is an investor to think? I believe you have to trust your eyes and the direction of the market. After all, that’s what makes up your bottom line.

In today’s video we’re going to be looking at one or two markets and how the “Trade Triangles” are positioned right now. We are not predicting what’s going to happen in the future. We are simply going to look at the purity of the “Trade Triangles” and how they can help investors with the most important market element of all, market perception.

Click Here To View The Video

As always our videos are free to view and there are no registration requirements.

Enjoy the video.

All the best,
Adam Hewison
President of INO.com
Co-founder of MarketClub


David A. Banister- www.TheMarketTrendForecast.com

In latter August I penned a forecast for my subscribers to TMTF on Silver, and below is a brief excerpt from August 31st:

I believe Silver is about to stage a pretty large advance based loosely on the Elliott Wave pattern I see unfolding after a 9 odd month consolidation. (Obviously, there are also fundamental fiat currency/debt events worldwide that give it the underlying bull chart pattern). Since the average person can’t run out and buy an ounce of Gold for $1,240 tomorrow, as the unfolding of the fiat crises continues to enter the public psyche, you will see a strong populace movement into buying silver, silver coins, etc. To wit, many silver stocks are moving up strongly of late, signally an imminent breakout of this precious and industrial metal.

The triangle pattern has taken nearly 9 months so far, for starters before a broad pullback.

I bring this up now, some 11 weeks later because Silver did in fact rally up from around $19 per ounce to $29 per ounce, and this was forecast well in advance using my crowd behavioral methodology and pattern recognition. The explosion in price I predicted happened much faster than even I expected, but does show the power of the crowds as they take hold of a new trend or a perceived trend and run with it. Part of the theory to be long silver also had to do with it being “poor man’s Gold”, which I indicated in my forecast. This is also crowd psychology in it’s finest form. People perceive Gold to be “too expensive”, but they can buy silver for only $29 an ounce. To wit, most investors do not really understand the difference between a stock that has 2 billion shares outstanding and one that has 20 million shares outstanding, they only care about price. They often think if a stock is $2 it’s “cheaper” than the stock at $100, little do they realize that a $2 stock that goes to $1 is a 50% loss, but they perceive that as a small risk due to the price. With Silver, you have the mom and pops running out and buying it because it’s “cheaper” than Gold.

Now that Silver has run to $29, my target, and then dropped back, what should expect next? Well, we are in that “broad pullback” I mentioned back in late August that would occur once $29 was hit. Technically speaking and looking at typical crowd behavior, I am expecting consolidation to continue for awhile under $29 per ounce. I call this recent pattern an A B C rally, and once the C wave ends at $29 in this case, forecasting the next move is extremely difficult and can be exasperating. The C wave ran from $19 to $29, and at the tops of those moves everyone is bullish and breathless. Figuring out how the crowd behaves after those patterns is similar to pulling a rabbit out of a hat. With that said, I would expect a 38-50% retracement of the $10 move to about $24 an ounce worst case, and then we should re-attack the $29 highs and likely move into the $32-$34 per ounce range within the next 60 days or so. Silver will continue to out-perform Gold for the foreseeable future as well if I’m right. It appears by my chart below that we already had our initial corrective low, and now we will consolidate and break out.

Silver Price Forecast

Consider subscribing to our free reports today by going to www.MarketTrendForecast.com, and there you can take advantage of a one time coupon as well. I cover the SP 500, Gold, and Silver on a regular basis.


The past few months it seems the gold and silver play has been getting a little crowded with everyone wanting to own gold. While I am a firm believer that these precious metals are a great hedge/investment long term, I can’t help but notice the price action and volume for both metals which looks to me like they are getting exhausted.

Silver – Daily Chart
The silver chart below shows an extremely high volume reversal candle in early November which typically leads to lower prices and some times a major change in the trend. That being said silver remains in an uptrend with the possibility of a bullish pennant forming. On the other hand there is a possible head and shoulders pattern forming. I will be looking for light volume sideways chop keeping a close eye for a possible neckline breakdown or a momentum thrust to the upside for a possible trade.

Gold – Daily Chart
Gold is forming a bullish and bearish pattern also giving us a mixed signal. I am currently neutral on gold and not really looking to take part until we get some type of clear price action.

US Dollar – 60 Minute Chart
The dollar has shown some strength recently. The US dollar play has been to take the short side, and a couple weeks ago we saw the dollar breakdown from yet another consolidation. It seems like everyone shorted the dollar yet again. That could have been a key pivot low for the dollar. On the weekly chart that bounce was off a major support trend line helping add some fuel to the rally I would think.

The chart below shows the recent rally and breakout to the upside. Currently the dollar is pulling back to test the breakout level (support). It will be interesting to see how this week unfolds. If the dollar bounces then we just may see metals break below their necklines to make another heavy volume drop.

Weekly Precious Metals Update:
In short, I have mixed feelings for gold and silver. Yes I think they are good long term plays, but after the run they have had it is also very possible a much deeper correction is about to take place and we may not see new highs for another year. That is a long time to have money sitting in an investment when it can be put to work in other investments. I know the herd (general public) is all head over heals in love with gold and silver which is one of the reasons why I think we are nearing a top if we didn’t already see it a couple weeks ago. Trading Newsletter Here..

Don’t get me wrong I’m not saying to sell of go short metals… not yet anyways. They are both still in an up trend but some interesting things are unfolding which could cause big action in the coming weeks.

Join my trading newsletter and get my ETF trading signals, daily analysis and educational material: www.TheGoldAndOilGuy.com

Chris Vermeulen


There have been some major trend changes recently and it looks as though more investments are about to follow. The real question though is… Are You Ready To Take Advantage Of It?

It has been an exciting ride to say the least with the equities and metals bull market and the plummeting dollar. But it looks as though their time is up, or at least for a few weeks. Traders and investors will slowly pull money off the table to lock in gains or cut losses and re-evaluate the overall market condition before stepping back up to the plate and taking another swing.

Below are a few charts showing some possible money making trade ideas in the weeks ahead.

TBT 20+ Treasury Note Inverse Fund

This fund moves inverse to the price of the 20yr T.N’s also known as bonds. Looking at the chart you can see the recent reversal which took place. We had a great entry point shortly after this reversal took place using my low risk setup strategy.

Falling bond prices are considered to have a negative impact on equities because it implies that interest rates may start rising which means more investors will pull money out of stocks and put that money into a safe interest earning investment. You will typically see bonds change direction before equities. That being said the chart below is an inverse fund, so when this bond fund goes up, it means actually indicates bond yields are falling. I will admit these inverse funds really throw my brain for a loop at time… I prefer the good old days, buying long and selling short… so simple and clean…

UUP – US Dollar Index Fund

This fund moves with the dollar and allows equities traders to take advantage of currency trading. This chart below shows a possible trend reversal for the dollar. If the dollar continues to rally then it’s also a good sign that interest rates could be rising in the near future and it also means more downward pressure on equities.

SDS – Inverse SP500 Index Fund

These bear funds make it possible for traders and investors to profit from a falling market using a regular buy and sell strategy. They can also be traded in retirement accounts making them a golden investment for those willing to play a falling market.

This chart moves the same as the SP500 index only flipped. As the SP500 falls this fund rallies.

The strategy we just used to play the recent rally is the same strategy we will use during a bear market, but instead of trading the SPY, we are trading this fund.

It is important to note that while bull market rallies tend to drag out; bear markets typically have faster movements. Fear is much more powerful than greed which is why the stock market drops quicker than it goes up.

GLD – Gold Exchange Traded Fund

Gold also looks to be topping and could actually be starting to form a Head & Shoulders reversal pattern.

Mid-Week Trend Trading Conclusion:

In short, understanding inter-market analysis is crucial for traders/investors to know. Not understanding how they affect one other can be very costly in the long run. Remember that volatility and volume rise together at the end of a trend. You can view the recent volatility index (VIX) to see its price action also. Volatility changes also make for great low risk options trades if options are your thing. Focus on trading with the trend, bounces in a down trend are typically muted or trade sideways making is very difficult to make money buying in a falling stock market.

Chris Vermeulen
www.TheGoldAndOilGuy.com

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