kaChing announced its trade mirroring service today, opening up opportunities for the eight “Geniuses”.  These eight investors made the cut from over three hundred thousand users registered by earning a” kaChing IQ” of 140 or greater and meeting other criteria.

Now investors like us can choose to put money in their trades and simply watch your investments grow.  You know exactly what they’re trading, how they’re performing, and what their trading strategies are.  Furthermore, you can choose to opt out anytime you wish.  The cost? Less than 1.5% management fee on average and a few cents a share for brokerage fee (Interactive Brokers).

kaChing already has over 2 million dollars invested in it as a SEC RIA (Registered Investment Advisor).

There’s an array of investors waiting for your investment.  Some are amateurs, and some are RIA professionals.   So whether you’re looking to be the next Genius or want to perform better following these Geniuses, give it a shot.

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I’ve mentioned StockTwits many times in the past on my blog.  It is certainly a fast growing community featuring suite of investors offering valuable stock discussions every day, live.  Now StockTwits has recently launched a newly developed tool more powerful than ever, empowering investors with a vast amount of information at their fingertips.

Features Offered:

Public Groups

Desktop users are able to create or join individual groups that are topic specific, some examples include groups centered on a specific trading style or focus. Group members are able to send private messages directly to the group or to multiple groups that don’t appear in the rest of the stream.

Customizable Streams

Desktop users may block people from their stream; this gives members full control over stream customization.

RSS Streams

Desktop users can create a stream from an RSS feed. Simply copy and paste the RSS url from any site and receive the updates right in StockTwits Desktop.

Multiple Tabs and Moveable Streams

Stocktwits Desktop offers users the ability to customize their layout. Streams can be moved around and ordered with a simple drag and drop.

StockTwits TV

Stay tuned to all your favorite StockTwits TV shows with the built in video player. Watch Alphatrends, UpsideTrader, Investing with Options, and all of our programming live, while you read Real-time messages from the StockTwits community. Users will find the full schedule of programming it listed right in the application.

Web Browser

StockTwits Desktop has a built in web browser, so users can click links and view pages without ever having to leave the application! If you prefer to open the link in your own browser, we’ve provided a button for that, as well. We’ve also provided a button to simplify sharing links.

If you haven’t tried the application, definitely give it try.  They’ve really done a good job asking themselves “what are we missing in our trading lives?” and addressed them beautifully.  Great design, great interface, great features, and above all, great community.  Whether you’re a day trader or a long-term trader, there’s something you can get out of this application.

You can also check this page out for more detailed video instructions on “How To”s.
http://desktop.stocktwits.com/help

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For today’s post, I want to share a chart posted by one of the traders I follow, The Evil Speculator.  At first glance, you’d question the credibility of the site, but it won’t take too long before you notice the quality of the analysis Evil Speculator offers.  If you haven’t visited their site, make sure to do so and join thousands of subscribers visiting their site daily.

Taken from their recent posts:

Pretty much what I expected to happen today – we are at an inflection point plus it’s the Friday before OPX. So, what’s better for those cattle prod wielding market makers than inflict just a bit more theta burn while we wait for a conclusion of this bear market rally saga?

Tonight I find myself between a rock and a hard place. The wave count right now appars quite clear – we seem to have completed an {a}-{b}-{c} and are now completing Minor C of Intermediate (Y) of Primary {2} – this scenario is marked in orange labels on the chart:

Taken from Evil Speculator

Personally, I myself do not feel confident about any of the bearish scenarios that are floating around out in the EWT blogosphere, but I do recognize the potential that, wave count be damned, we might just suddenly drop tomorrow.

So the man behind Evil Speculator thinks we’re going further up.  Well he also shares a separate scenario indicated in blue that is bearish:

I usually never do this but tonight I decided to also show Steven Hochberg’s counts (he’s the author of the Short Term Update and resident editor at EWI) – his is labeled in blue. Basically Steven prognosticates that we painted a flat after the September 25 low, which completed today and that would mean that we’re now ready to drop into a long third wave. So, his count would be that we are in Minute {ii} of Minor 1 of Intermediate (1) of Primary wave {3}.

I deeply respect Steven and it pains me to say this, but I think his count is a stretch at best. Also, the Dollar’s drop today did not help the bearish cause and I have a hard time believing that this market will turn before the Dollar finds at least a temporary floor – thus far the wave pattern on the ole’ buck looks incomplete and we could easily drop below 75 before we finally push into a meaningful rally.

Here are the good news: In regards to Orange vs. Blue we should know very soon – perhaps even by tomorrow. On the chart above I have pointed out the confirmation lines for each scenario. As you can see the orange doesn’t have that far to go.

Indeed, with the option expiration nearing us, this week should help us understand whether the market will make new highs or start retracing.

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Market made quite a comeback this past week, similar to what we saw in early September.  This is why “one distribution week doesn’t make any trend”.  It bounced off nicely from the 50 day MA near the support and is looking to test the previous highs.  Many I follow say this week will tell the tale.  Bulls vs Bears.  Let’s see where the market takes us, because I’m certainly not certain.

Financial Select Sector SPDR  (XLF)

XLF Financial Select Sector SPDR came back strong similar to rest of the market last week, bouncing off near the 50 day MA and the support level.  However, the MACD divergence is still there and I still cannot be bullish on the financials.  Again this week should tell whether this bull rally will continue further or pull back is still in effect.

SPDR S&P 500 (SPY)

Same story here.  Despite the big distribution week the week prior, S&P500 and SPY bounced off from the 50 day MA last week and now testing the previous support.  Deja Vu?  You bet.  We’ve all seen this similar pattern in September, and many predict the same story will be told once again.  This bull trend is strong.

United States Natural Gas Fund (UNG) requested by Linda Li

United States Natural Gas Fund (UNG) has been consolidating for the last three weeks trying to break through the resistance at $12.   This consolidation is lasting for a quite some time, and as I have mentioned before I wouldn’t want to get into natural gas at this point with lots of uncertainty.

United States Oil Fund LP (USO)

United States Oil Fund LP (USO) and oil in general has been getting a lot of attention from the technical side as it broke through the triangle pattern.  What’s interesting is that many were screaming “Short!” when the big sell-off took place and ended up getting shaken out by the big rally that followed shortly thereafter.  It is now facing some resistance again at the 50 day MA, and it has been in the consolidation mode for the past week.  Not too much certainty from the technical stand point.

SPDR Gold Trust (GLD) requested by Dorothy Wilcox

SPDR Gold Trust (GLD) broke through the symmetrical triangle pattern and has rallied since.  However, GLD continued to struggle at the next big resistance of $99 for quite some time.  Then the big week came last week.  GLD broke the resistance with a big bang making an open gap Tuesday.  So now the GLD is looking more likely to push further forward.  However, be very careful of Tuesday’s gap open.  As you may have heard already, gaps tend to be filled in the future days.  Some go as far as saying “gaps always get filled”.  I don’t necessary agree but gaps always concern me.  Bottom line,  buying long here would be hesitant for me given the gap, but the $99 resistance will certainly act as a support should the Gold decide to retreat in the coming weeks.  Good news for longs on GLD.

Research in Motion Limited (RIMM) Requested by Jeff Wold

As mentioned last week that Research in Motion Limited (RIMM) may see a bounce from the support level around $63, RIMM bounced back last week near the support level.  However, I don’t foresee RIMM recovering what it has lost already very quickly, even if it does.  If someone has fundamental reasons to get into RIMM or believe in its business/financial viability, great.  I personally would expect RIMM to trade in a range in the next few weeks.

Diamond Trust, Series 1 (DIA) Requested by Johnny

Diamond Trust, Series 1 (DIA) that tracks the Dow Jones Industrial Average has the same o’ story.  Big distribution, followed by just as big recovery.  Again, September all over again.  DIA also is facing the previous resistance level, so this week should tell whether the market will continue its rally, or if the pull back is still in effect.

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If you ever spot a stock that is surging by double digits within a very short time span, you may have run into a stock that is being “short squeezed”. Short squeeze is a term used by investors describing a situation in which stocks get “squeezed” upward rapidly, driven by the short sellers who are covering their short positions.

Short squeezes often result when the price has risen to a point where short sellers decide to cut their losses and get out. This can originate from stocks that have been targeted heavily on the short side with high % of short sellers relative to the % of shares floating. All it takes then is one big news for the demand of the particular stock to surge, disrupting the balance between supply and demand. Often times, this is followed by a series of buying sessions, which drives the short sellers to cover their positions by buying the stock back.

Below is an example of AIG being short squeezed. Now, keep in mind that not all stock surges are driven by short squeezes. It is very possible for stocks to increase in price rapidly generated by increased demand versus supply.

So you can see that identifying the right stocks with potential short squeeze can reward you greatly.  Now how do you go about identifying that?

shortsqueeze.com is your answer.

Short Squeeze dot com is one of the most popular websites for identifying short squeeze opportunities.  It features an array of useful data at no cost but also offers more in depth data with a subscription based service should you need more in depth features.

This is what you get to see when you enter a quote at shortsqueeze.com.

“Short Squeeze Ranking” is the proprietary data that it offers as part of the content.  Taken directly from shortsqueeze.com:

ShortSqueeze.com has developed the Squeeze Ranking™ system used to gauge a stock’s squeeze potential. We use a proprietary algorithm used to rank a stocks potential for either a bullish or bearish stock price move. Squeeze Theory™ is the creation of Dylan Wetherill, the founder of Short Squeeze™. The theory seeks to identify the basic principles that cause a stock to experience a short squeeze (bullish) or a long squeeze (bearish).   For example, a Squeeze Ranking™ of 0 is neutral, with unlimited up or down values to mark bullishness or bearishness. A Squeeze Ranking™ of 2,000 would be more bullish than a Squeeze Ranking™ of 50. Conversely, a negative Squeeze Ranking™ of -3,000 would be much more bearish than a Squeeze Ranking™ of -50. As a Short Squeeze™ member you are able to search all stocks and find stocks with the highest Squeeze Rankings™: short squeeze (bullish) and long squeeze (bearish). The process Squeeze Ranking™ system is designed according to the principles of Squeeze Theory™.

Whether you sign up for their monthly service or not is up to you.  However, you must check out the site and understand just how useful its data can be.

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You may have seen investors or financial media talk about “Window Dressing” and how it impacts the stock price. Well “Window Dressing” is a term describing the unique strategy many investors employ around year ends and quarter ends to sugar-coat their investment portfolios.

So what is window dressing?

It’s a strategy used by mutual fund and portfolio managers near the year or quarter end to improve the appearance of the portfolio/fund performance before presenting it to clients or shareholders.

Performance reports and a list of the holdings in a mutual fund are usually sent to clients every quarter. In order to take advantage of this process, the fund managers or investors publishing their performance report will sell stocks with large losses and purchase stocks that are performing well near the end of the quarter. These securities are then reported as part of the fund’s holdings, which now look much better than it did just before the window dressing.

Just to show a very simple example of how simple difference can change the aesthetics of your portfolio:
Before Window Dressing

After Window Dressing

As you can see, just by selling some of the losers and buying up some of the winners, the fund managers’ portfolio can look a lot “better” for the quarterly reports. This concept is what the investors take advantage of before quarter and year ends before their performance reports get distributed.

So what does this mean to the stock market? Well often times, the period right before the quarter end or year end tend to have advancing stocks for those that have been performing well. Well in a market like today’s where the indices rallied 50% since the March ‘09 lows, you can bet there are fund managers who are window dressing to make their portfolio look better.

It’s something to keep in mind for you swing/day traders.

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With big distribution week, Nasdaq QQQQ now broke through the rising wedge.  It even broke through the resistance around $41 and the volume was pretty good.  This is now looking like an opportunity for me.  For those of you patiently waiting for the right timing, this may be your opportunity as well.  One distribution week doesn’t make any trend, but it could certainly be the beginning.  People are certainly paying attention to the big sell off last week.  I wouldn’t be surprised if QQQQ consolidated for a bit, but the possibility of further decline is now greater.

Financial Select Sector SPDR  (XLF)

For the same reasons mentioned before, I have not been too bullish on the financials right now.  Broke through the support level and the risk to the downside is now great than it was before.

SPDR S&P 500 (SPY)

S&P 500 broke through the trendline similar to the other indices.  It’s sitting at the 50 day MA and nearing the next support around $101.  If you’re a bull here, be cautious going into Q4 as the quarter-end window dressing is now over, and we could see what the “true market” will do in the next few weeks.  Now, if you’re eying the short side, you need to be cognizant of all the support levels out there.  Even if the market’s going to decline, it won’t be an easy ride down.  After all, the overall trend is still bullish.

United States Natural Gas Fund (UNG) requested by Linda Li

United States Natural Gas Fund (UNG) has been consolidating for the last three weeks trying to break through the resistance at $12.  As I mentioned last week, I would not want to get into natural gas here if I’m depending on the technicals to suggest an entry point.  I would really want to see the price break through $12 and sustain it.

United States Oil Fund LP (USO)

United States Oil Fund LP (USO) and oil in general has been getting a lot of attention from the technical side as it broke through the triangle pattern.  What’s interesting is that many were screaming “Short!” when the big sell-off took place and ended up getting shaken out by the big rally that followed shortly thereafter.  It is now facing some resistance again at the 50 day MA, and it could resume it’s decline again.  I can’t say with assertion, but I say the risk is greater on the downside now than upside for Oil.

SPDR Gold Trust (GLD) requested by Dorothy Wilcox

SPDR Gold Trust (GLD) broke through the symmetrical triangle pattern and has rallied since.  However, GLD continues to struggle at the next big resistance of $99.  If Gold can really break through this big resistance, it would likely resume it’s rally beyond $100.   If you don’t own GLD and are thinking about it, it’s probably worth the wait to see its next move.

Research in Motion Limited (RIMM) Requested by Dan Hearn

I still don’t have anything positive to say about Research in Motion Limited (RIMM) after the massive sell-off.  I personally don’t have a good assumption on where RIMM goes in the next few weeks, but I wouldn’t be surprised if it consolidated in a range for the next few weeks.  Bottom line, the damage has already been done, so RIMM won’t recover quickly unless positive news saves the sentiment.  Short-term, we may see some bounce from the support level around $63.

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For the next interview, I had the honor of interviewing Karl Denninger who is quite well known in the investment community.  Since I have covered his site here previously, I won’t go into the details.  However, here’s the quick overview of who Karl “The Market Ticker” is.

***Taken from my previous post***

Karl Denninger and his site, “The Market Ticker” is quite popular amongst the investment community.  With over 75K monthly unique visitors (source: Compete.com), Karl Denninger certainly gets his voice heard to the mass.

So who exactly is Karl Denninger?  Well his credentials are pretty extensive:

Author of “The Market Ticker”

Former CEO of MCSNet

Operator of TickerForum.com

Full Time Trader since 1998

Seeking Alpha Certified

Recipient of 2008 Reed Irvine Accuracy In Media Award

So without further ado, here’s Karl Denninger and his take on the future outlook.

“Karl, can you tell us more about your background and the roadmap to your success today? Knowing some of your credentials, your past experiences must have been diverse and interesting.”

I’ve been an entrepreneur since leaving college.  The most-noted part of my professional experience is probably running MCSNet in Chicago, a large regional Internet Company in the 1990s that was ultimately sold to Winstar in 1998.  I have been actively trading since that time, and have been around and in the market in one form or another since the late 80s.

“Why did you start your blog and the Ticker Forum? How have they impacted you?”

I began publishing The Market Ticker in 2007 due to what was clearly the same sort of outrageous BS that occurred in the 1990s.  We keep repeating the same mistakes and frauds – only the names change, not the fundamentals of the game.

In the ’90s the dominant “investment meme” was to hype companies based on “EBIDTA”, ignoring the fact that the “IDTA” was big enough to make sure that “E”, after subtraction, would never be positive. That didn’t stop many of these stocks from selling for $100, 200 or even $500/share.  Most were ultimately zeros and the entire scam was to suck in another fool to sell your shares to – before it all blew up in your face.

The 2000s were the same game, writ larger – suck in another idiot to buy your house, your CDO, your worthless debt securities.  All in the name of so-called “growth” – and all fraudulent.  When I caught WaMu paying dividends out of capitalized-interest (that is, negative amortization promises to pay in the future) on bubble houses in California where defaults had already started to ramp I decided that I had seen enough and that the public deserved to know – before they got robbed again.

The last time (in the 1990s) only a handful of people went to prison even though there were literally tens of thousands that conspired in the frauds that ripped off America.  This time the cast of evildoers was even larger, and so far, we’ve jailed one (Madoff) for real and have one more (Stanford) in the dock awaiting trial. I believe there should be literal thousands under indictment including the people at the ratings agencies, all the major bank executives and others, but unless the American people wake up they will never understand why their job is gone, their wealth is gone, their house is gone and none of it was an accident or “random” – it was all a premeditated and outrageous fraud.

“I believe you have been trading full-time since the late 90s. Is your current “job” trading and managing your sites? What does your day look like?”

I’m generally awake by 6:00 Central to scan the news flow, put finishing touches on various articles for The Market Ticker, get some breakfast, see my daughter off to school and pull myself a couple of espressos.

The day is spent with my face buried in four monitors hooked to a bank of computers and a “back office” cluster system built on Unix that runs basically everything (including my home, where all of this is centered) during the trading day.  I watch a wide panoply of market indicators, including interest rates, FX, market internals, a passel of proprietary indicators of my own design and a handful of individual issues, and post and follow the forum (at http://tickerforum.org) through the day.

After the market closes I typically put out a 15-20 minute technical analysis video on the day’s action, transcode and upload it, and then go about my evening, usually finishing up around 6:00 pm or so.

“I personally admire the work you do for your blog, especially the amount of data packed contents that many will not find via a typical financial media. What are some of the resources and tools you use for your extensive research?”

I have a “deck” of information sources, all boosted with technology; I make wide use of RSS along with contacts developed over the years and am a voracious reader.  God blessed me with the ability to speed-read material to discern whether there’s something of value to be delved into at a later time; those items get filed away for TICKERS throughout the day, and either get dispatched during the day or occasionally written “for tomorrow” in the evenings.

“Now anyone who follows you will agree that you’re not the most bullish guy when it comes to today’s economy.  You cover various topics such as housing, debts, government, corruption and the financial system that all lead to subpar data.  Of all things “bad”, what scares you the most in today’s environment?”

Debt – and our nation’s refusal to deal with the fundamentals of exponential growth functions.  Mathematical functions are immutable – you can argue with them all you want and paper over their effects for a while but doing so only makes the eventual outcome worse.

The fact is that we haven’t grown our economy for the last 10 years and perhaps for the last 20 – we’ve instead blown debt-based bubble after debt-based bubble, but our productive output hasn’t kept pace.  GDP has been overstated for years due to intentional manipulation of inflation statistics (CPI) which has given cover to people to claim “growth!” when in fact what has really happened is fancy accounting games supported by off-balance sheet exposures and grade-inflated ratings.  This malinvestment must come out of the system for a sound economy to emerge, and the longer we wait to do it the worse the pain we will suffer in the process.

“So in today’s market, what type of investments are you making?  Are you on the short side? I know you’re eyeing Best Buy (BBY) short for one.”

The market (since March 09) is currently engaged in what amounts to a liquidity-pumped blow-off and monetization of Federal and Agency debt – a continuation of the fraudulently-claimed “growth” of the 2003-07 period.  But the real economy says the “green shoot” meme isn’t just misplaced, it is an outright scam.  Our government claims 211,000 people lost their jobs in August, as just one example, but the household survey says the real number was nearly a million.  The difference?  People who gave up – the job market is so bad that nearly three quarters of a million working-age people simply stopped looking.  If you look at sales tax and shipping numbers – places where you actually count things instead of “seasonally adjust” them – you see a very different picture than what’s being shown to you on Tout TV.

All markets mean-revert over sufficient amounts of time.  Take the speculative froth out of the various markets and the S&P could easily trade under 400 in the next 12-18 months.  The spread between actual forward economic fair value and where the market is has never been higher in the post-war period where we have data solid enough to analyze.

“Any comments on your recent engagements with Dennis Kneale? I personally enjoyed the ‘debate’ very much. Any thoughts on the recent cancellation of his CNBC show?”

CNBC, like all major media outlets, is all about advertising.  In my opinion Dennis’ attack on the blogosphere was a huge mistake; the mainstream media has been absolutely derelict in their duties; it is the alternative media that has been pulling back the curtain of fraud for the last several years.  In 1999 and 2007 CNBC was unabasedly bullish and in fact in early 2000 Jim Cramer (before he was “Mad Money” on CNBC) made a famously-bad call that any company that wasn’t “new economy” was trash – he went on to put forward his “buy list” that, had you listened to him, flatly wiped you out.  In 2007 the number of calls for 1600+ on the SPX from CNBC were deafening.  How did that work out for those who believed?

Just watch CNBC’s ADVERTISING and you’ll see where their focus is.  Their advertisers make nothing if you’re not in the market in some fashion and their corporate parent (GE) will suffer horribly if credit expansion can’t be re-established.  Both are trying to fight the math as are Bernanke, Treasury and Congress – this can only be done through more bubble-blowing and lies, and eventually the piper must be paid.

“Pax Americana” and selling hope is a time-worn strategy that unfortunately for Dennis went beyond threadbare into the realm of willful ignorance of reality.  Being in a badly-handicapped timeslot certainly didn’t help; what CNBC needs in that period is someone willing to take the other side, but how do they put someone like that (such as myself) on the air given their corporate parent’s interest along with those of their advertisers?  He was given an impossible task that was destined to blow up in his face, and it did.

Here’s the actual clip of the debate.

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“Lastly, knowing what you know, what advice would you give to your audiences as far as investments in the years to come?”

Return of capital is more important than return on capital.  Put another way, the first rule of investing is “don’t lose money!”  Everyone wants to chase a winner; this, unfortunately, is why most investors lose compared to the markets over time.

It is fine to speculate with money you can afford to lose, but your core capital should never be exposed to a market that is trading on bubble economics unless you’re close to the door and can leave fast – and for most investors that’s not possible with their “long-term” funds.  The key to long-term outperformance (the real goal in any such portfolio) is to STAY OUT during times like this, and take advantage of long-term (and deferred) tax advantages during periods when the markets are trading on fundamental value.  I’m not interested in someone’s one-year or even two or three-year return – my interest lies in what you can do over decades.

I have to live on my portfolio; if I lose my core capital I get to hand out carts at WalMart or ask “would you like fries with that?”  So far I’ve got more than a decade under my belt since “formal retirement” with a portfolio beta around 0.5 and a total return that has utterly destroyed the S&P 500’s over that time period.  That’s the goal for any long-term investor, and in that I’m succeeding.

In the early 1990s I took advantage of those who had to “puke assets” at a nickel on the dollar to build a business.  Severe economic dislocations bring these opportunities with the really big events like this happening only once in a lifetime.  I believe we are in the early stages of this sort of event, and you will be able to buy hard assets – land, buildings, machinery – for a nickel on the dollar or less in the coming years.  If I’m right, and you are liquid and have funds, you will over the next decades be able to capitalize on this and make a fortune.  There were thousands who held their cash tight to the chest during the early parts of the 1930s and when the opportunity arose bought for cash, then sat patiently and waited for the money to come to them.  That’s not “get rich quick” but it IS “get rich certain” over the course of 20 or more years.

Remember that it is risk-adjusted return that matters, not “pure alpha”, especially when the market is trading on hype and hope.  Until and unless we see the fraud outed and credit contracts to a sustainable level you’re not investing – you’re gambling.   In my opinion core capital should never be deployed in such a market – wait for the better opportunity.

Thanks again for the participation Karl.  Definitely enjoyed the responses.  Hope the readers enjoyed it as much as I did.

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While QQQQ is still trading within the rising wedge channel, it is testing the resistance now.  Given last week’s distribution, I would be very cautious as a long, paying close attention to the prices in the next few weeks.  Now this could also mean it’s a buying opportunity, and shorts should not get too excited here and jump the gun.   Quarter end window dressing could play a role this week as well.  Exciting week for sure.

Financial Select Sector SPDR  (XLF)

For the same reasons mentioned last week, I am not too bullish on the financials right now.  Pay attention to the current support level this week.

SPDR S&P 500 (SPY)

S&P 500 is sitting right at the trendline looking to either break through the trend or bounce off, resuming it’s rally.  I wouldn’t be surprised if we see a bounce here given the quarter end window dressing, but we need to pay close attention to this trendline in the next few weeks.

United States Natural Gas Fund (UNG)

United States Natural Gas Fund (UNG) has been consolidating for the last two weeks trying to break through the resistance at $12.  I would not want to get into natural gas here if I’m depending on the technicals to suggest an entry point.  I would really want to see the price break through $12 and sustain it.

iShares Silver Trust (SLV) requested by Wayne (applies for ZSL silver short)

iShares Silver Trust (SLV) had quite a sell off last week and is now sitting at the support.  I’ve seen some investors accumulating more silver, seeing this as a buying opportunity.  It’ll be interesting to see where silver goes in the next few weeks.  If it breaks through this support, we won’t see a strong support for quite some time, so be careful on the long side.

SPDR Gold Trust (GLD) requested by Dorothy Wilcox

SPDR Gold Trust (GLD) broke through the symmetrical triangle pattern and has rallied since.  However, GLD continues to struggle at the next big resistance of $99.  Gold faced some big distribution week sitting at the $97 support level.  Here’s a video on Gold that’s interesting to watch.

Research in Motion Limited (RIMM) Requested by Jamieson

Research in Motion Limited (RIMM) just looks ugly now.  A massive sell-off after the earnings report that looked bleak in the future.  I personally don’t have a good assumption on where RIMM goes in the next few weeks, but I wouldn’t be surprised if it consolidated in a range for the next few weeks.  Bottom line, the damage has already been done, so RIMM won’t recover quickly unless positive news save the sentiment.

Apple, Inc (AAPL) requested by Jerry Perlmutter

AAPL Weekly Chart

Looking at Apple’s weekly chart for the past three years, you will see that it is right at the resistance level, nearing a 3 year high.  It did pull back slightly last week from the resistance.  Given AAPL has been a clear winner since March ‘09, we may see further upside this week for quarter-end window dressing.  At the same time, I’m very skeptical as to how much more upside AAPL has from here.  If it’s going to break through the resistance and start making new highs, it won’t be quick.  I would rather expect some consolidation/pull-back to occur before and if it continues to rally.

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