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Silver Wheaton Corp. Message Board

mpaulenoff 4 posts  |  Last Activity: Feb 11, 2015 2:14 PM Member since: Mar 11, 2013
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  • Is INTC Ending its Dec-Feb Correction? My pattern work triggered preliminary signals last week that Intel Corporation (INTC) has ended its correction off of the 37.90 high into the 32.65/67 area, and is preparing to lift off into another upleg-- to new 15-year highs projected eventually into the 43.00-45.00 target zone.

    At this juncture, only a decline that breaks and sustains beneath 32.00 will begin to compromise the timing of the expected next upleg.

  • AEO Gets Upgrade Right at Breakout Plateau - American Eagle Outfitters, Inc. (AEO) was upgraded to Market Perform from Under Perform by Cowen research this morning, which has goosed the stock above its 2+ year resistance line at 14.10) to its prior rally peak at 14.48 on Dec 3.

    If hurdled and sustained above 14.48 on a closing basis, AEO should be in route to test much more important resistance at 15.10/15.

    If taken out, it will trigger upside projections derived off of the prior 12-month base-accumulation pattern that points to the 20-target zone.

    At this juncture, only a reversal and break below the 200-day EMA, now at 13.27, will wreck the promising technical set-up in AEO.

  • Benchmark 10-Year Yield Gives Back All of Its Q3 GDP Upside - U.S. benchmark 10-year Yield continues to stair-step to the downside in the days following the Dec 23 upward revision in US Q3 GDP.

    Yield peaked on Dec 24 at 2.31%, but has since slinked its way back down to 2.17%.

    Huh? Strange action in the instrument that is supposedly a sensitive barometer of economic growth.

    Then again, maybe Yield is telling us the truth—that US economic growth of 5% either is a mirage, or represents a brief spurt that already passed?

    Whatever the case, all of the action in Yield above 2.23% last week now looks like a nasty Bull Trap ahead of the resumption of dominant downtrend weakness.

    Meanwhile, related or not, spot Gold seems to be acting just the opposite of YIELD—perhaps reflecting the growth headfake, which will put pressure on the U.S. Dollar, and raise expectations that the Fed might have to reconsider more QE to ward off deflation?

  • The Dollar and Gold- The New Normal? I am not sure what to make of the U.S. Dollar (DXY) vs Spot GOLD relationship recently, because it has certainly been counter-intuitive, not to mention counter-historical.

    It is unusual to have such a strong Dollar concurrent with such a resilient Gold price.

    That said, the relationship is not counter-seasonal, however.

    When the Dollar has a pronounced direction heading into Dec, it usually continues into year end, while Dec usually resides within the seasonally-strong Nov-Mar time period for GOLD.

    Be that as it may, the multi-month DXY uptrend is considerably more powerful than the budding GOLD recovery rally, at this point, GOLD must climb and sustain above heavy resistance at $1255/60 to trigger any meaningful upside traction.

    Bottom Line: My suspicion is that the strong Dollar is approaching a peak in and around 90.00, and that an oversold, under-owned, gold market is ripe for a recovery rally at a minimum, and a surprisingly strong upmove, if, in fact, the Dollar is peaking.

21.59+0.15(+0.70%)Feb 27 4:02 PMEST

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