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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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tradewithZEN
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  • Gold & Silver Could Be In Trouble

    By Jeff Pierce

    It appears the easy money has been made off the 2013 lows and I just don`t know how much gas the metals have left. Up until today I was open to the idea that Gold has bottomed but if we don`t find support on near the daily RSI on gold then I think we`re heading back to the lows. It`s too early to make that conclusion as Gold will at least have an attempt to take our recent highs and if it fails there then it`s going to be tough for gold traders. If it breaks and closes above that level then this will likely trade up to the $1400-1460 range before any meaningful resistance.

    Silver`s chart is just a mess and it`s difficult to discern any real pattern or price targets from this sloppy trading. Silver hasn`t confirmed this move in Gold and this is one of the reasons I`m leaning to the notion of the metals revisiting the lows.

    You can mirror Jeff`s trades using Ditto Trade. To see his statistics and learn more click here.

    Mar 24 8:20 AM | Link | Comment!
  • Look At This Stock - EONC

    By Jeff Pierce

    Today's sell off in EONC has taken this stock back to it's 40 level on RSI. After such a strong move this typically supports a stock and it finds a bottom to at least retest the highs. This stayed overbought according to RSI for 4 months and some would say this is ready for a big pullback, but I disagree. Today's pullback should not be surprising at it needs to reset some of the momentum it has had since December. I would say worse case scenario has this going to $4.45 before the uptrend resumes.

    Tags: EONC, RSI
    Mar 18 1:18 AM | Link | Comment!
  • Gold Confirms New Bullish Cycle

    By Poly

    This is an excerpt from this weekend'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%.

    It is not often we see gold show two consecutive shallow and time based Cycle Lows. But that's exactly what we're looking at here, a Cycle Low which has occurred both early in the Cycle count and with only a minimal price retracement. Within the weekend report, I outlined my preferred expectation, which was to brace for at least a mild decline back to $1,300. That expectation was based purely on prior Cycles behavior, as we know from experience they're most likely to dictate future action.

    This past weekend, I also pointed out that breaking above $1,355 at this point was always going to confirm a new Daily Cycle. The lack of a clear Cycle Low confirms that the flat 10 day period was "the decline" into a Cycle Low. Typically these types of Cycle Lows within an uptrend have bullish implications. They indicate that buyers have overwhelmed the profit taking sellers at a point where the sellers normally (DC decline) far outnumber the buyers. Generally, if it were a confirmed bull market, this development would be a signal to get heavy into long positions with the expectation of yet another stellar Daily Cycle.

    My hesitation of course is that we don't have a "confirmed bull market trend" in place, even though I called an end to the bear market 6 months ago. The worst case here should at least result in 5-8 sessions higher, especially since the dollar is ready to fall into a scheduled ICL. But remember, the past 6 (3rd Daily Cycles) have all ended as significantly Left Translated Cycles. They all topped early and fell sharply; all of them were weak almost from the start.

    Gold must be in a bull market (on the cyclical Cycle time-frame) in order for this 3rd Daily Cycle to form Right Translated. As the dollar could find an ICL within 5 sessions, I urge caution here. We know 3rd Daily Cycles are often "irrational" and we just don't have recent sustained up-trend history behind gold.

    (click to enlarge)

    Related Posts:

    Volatility Is Coming, But Which Direction?

    Speculative Buying Underlies Strength In Silver

    Bearish COT Report Fuels Oil's Mini-Crash

    Tags: GLD, Commodities, Gold
    Mar 18 1:09 AM | Link | Comment!
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