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Jeff Pierce
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I’m a swing trader of momentum stocks with a holding period of anywhere from a few hours to a few months. I run a number of screens to locate the strongest/weakest stocks out there, using technical analysis to determine my entries and exits. Trying to calculate the intrinsic value of stocks in... More
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  • Path Of Least Resistance Is Higher For Dollar

    By Poly

    This is an excerpt from this week's premium update from the The Financial Tap, which is dedicated to helping people learn to grow into successful investors by providing cycle research on multiple markets delivered twice weekly. Now offering monthly & quarterly subscriptions with 30 day refund. Promo code ZEN saves 10%.

    The action out of the dollar is not exactly blazing. But what I can say, with little doubt, is that it has none of the characteristics of a final Daily Cycle. If the prior Investor Cycle were still in decline, I can assure you that the dollar would have failed and well on its way below 79 by now. So although we're yet to see an upside burst or continuation, the dollar should be fairly well supported on the downside here.

    We still have a bullish chart working and we know from past Cycles that the dollar can "chop around" for a Cycle or two. And tomorrow is going to be a very telling day as the ECB announces it latest decision on interest rates, potentially opening the door for a change in policy. With the Eurozone inflation rate falling rapidly, while the Euro appreciates too quickly, the ECB might be forced to be a little more dovish in their commentary. As the path of least resistance for the Euro is lower, we could be in for a rather sharp move in the dollar tomorrow. Of course, markets can go either way.

    (click to enlarge)

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    Apr 03 3:08 AM | Link | Comment!
  • Index Charts Acting Bullish

    By Jeff Pierce

    Tags: SPY
    Apr 02 5:28 PM | Link | Comment!
  • Look At This Stock - ALIM

    By Jeff Pierce

    ALIM is a biopharmaceutical company engaged in the R&D and commercialization of prescription ophthalmic pharmaceuticals. It's about ready to break out to new 2014 highs as soon as tomorrow and you can see that volume is definitely supporting each of the big moves higher. ALIM IPO'd in 2010 above $11 and you can see we're not that far from that when viewing a weekly chart. There is some decent resistance around current levels but if this makes a move and closes over $9 I think it's only a matter of time before this sees new all time highs.

    twz next.

    Related Post:

    Look At This Stock - EONC

    Look At This Stock - HPJ

    Look At This Stock - SNSS

    Tags: ALIM
    Apr 01 6:37 AM | Link | Comment!
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