Trader’s Narrative

A few weeks back we looked at the precious metal sector because the Rydex traders had suddenly dropped their enchantment with the gold sector in response to the small weakness in gold and gold stocks. Usually when these myopic traders hop off a sector with such alacrity we have the makings of a good contrarian […]

On Wall Street copper is give the title of “Dr. Copper” because of its ability to predict future economic activity. When the price of copper falls relative to its prior annual price, we usually head into a recession. But we can’t look at copper priced in dollars - they are useless after all, aren’t they? […]

I bet that many are looking at that very tempting hammer candlestick pattern which printed last Friday and thinking that it is a bullish omen. Well, not always. But I do think this pullback presents an opportunity for the long side in the energy sector. Here’s why:
Let’s take a look at the AMEX Oil Index […]

The last time we looked at the precious metal sector, was in December as gold was in full correction mode after a parabolic crescendo. My analysis then was that gold was clearly correcting after a massive run-up but that due to a number of reasons outlined, this profit taking would be shallower than normal.
While the […]

This is a guest post by Vadim Pokhlebkin:
The following article is provided courtesy of Elliott Wave International (EWI). For more insights that challenge conventional financial wisdom, download EWI’s free 118-page Independent Investor eBook.
Of the many forward looking market indicators we at EWI employ, one of the most interesting tools (and least discussed in the financial […]