Monday, March 7, 2016

GERN: Geron, Getting Ready To Break Out?

KKR: KKR, Broke Resistance For New Bull Move

LABU: Direxion Daily Biotech Bull 3X, Preparing to Breakout?

NFLX: Netflix, Broke 2 Resistance Levels, Indicators Confirming Up Move

Precious Metals Sector: not a Flag / Pennant, but a TOP - NEW LONGS ABOUT TO BE FLEECED...

Many analysts and writers have described the pattern forming in the past couple of weeks in gold as a “bull Flag or Pennant” with some appearing to be “playing to the gallery” – i.e. telling their audience what they want to hear, which is that gold will continue to go up. I, on the other hand, decided that the triangle that had formed was not a continuation pattern, but a top, and said so about a week ago. So, as you will readily understand, I was not looking good when gold seemingly broke out upside on Thursday, and came in for considerable flak. However, on Friday there were some dramatic developments across the sector which look set to vindicate my stance. (more)

US Weekly Economic Calendar

time (et) report period ACTUAL forecast previous
3 pm Consumer credit Jan   -- $21 bln
6 am NFIB small business index Feb.   -- 93.9
WEDNESDAY, march 9
10 am Wholesale inventories Jan.   -- -0.1%
THURSDAY, march 10
8:30 am Weekly jobless claims 3/5
10 am Quarterly survey of services Q4   -- --
2 pm Federal budget Feb.   -- -$192 bln
FRIDAY, march 11
8:30 am Import price index Feb.   -- -1.1%