Bitcoin may indeed be the next currency. It may replace all forms of money or credit that we are familiar with. That aside, things can often get a wee “bit” (get it? Ok, its weak) overdone in any security that has caught the markets’ attention. Gold, oil, tech stocks, mining, condo development, tulips. These have Read More
Where will gold go from here?
Above is a chart of gold that I’ve kept on my screens for a while. The triangle breakout that I noted to wait for on this blog occurred in August. It’s now hit its first level of resistance that I had noted on that blog via the dashed green line. As mentioned on that Read More
How much upside is left for the loonie?
Here is a chart of the loonie that I’ve been tracking for some time. You will notice the big trend has been down since 2011. It looks to have been broken. However, there is massive resistance at just under $0.84. I noted this in a blog quite some time ago and suggested a target of Read More
USD oversold
The chart below shows us that the USD, as compared to a basket of world currencies, is near long termed support and its 200 day MA. Momentum is signalling oversold in a significant way. Sentimentrader.com shows us that commercial hedgers are overly bearish via their hedge positions. This is almost the EXACT Read More
Yen bounce suggests weakness for the Nikkei
The yen is beginning to outperform the USD. I’ve noted in the past that when the Yen rises, the Nikki stock market tends to underperform. Here’s a blog explaining that phenomenon. Below is the Yen/USD chart. Note the bounce off of support for the Yen/USD ratio. This suggests the potential for a nice rally on Read More
Follow the big red line
The dominant trend for the loonie has been indisputably down since 2011. Follow the big red line on the chart below. Any questions? This downtrend, BTW, coincides with the 2011 commodity peak and steady decline. As most of you are probably aware – the loonie has a very positive correlation in price movement to Read More
Don’t get too excited about the strength in the loonie
Let’s start out this blog with my concluding statement. That is, the recent rise in the loonie will likely not last for too much longer. Here’s why: The big picture I think that this chart tells the story. The loonie is in a dominant downtrend. During any downtrend, including this one, you get counter – Read More
Loonie weakens despite rising oil and falling USD
It’s a fact that our Canadian dollar is influenced by the price of oil. Despite a favourable move by WTI crude oil recently – and potential for another dollar or two more upside for oil – the Loonie remains in a downtrend. This is unusual. Meanwhile, I wonder how much there is left Read More
It sucks to be right
Before we get going, here is the writeup and video for my BNN show last night. At the end of every calendar year I write a blog on an non-investment related topic that ties into investing in some way. For example, I’ve written on the concept of personal diligence vs. buying a mutual fund—and compared Read More
Outlook for the loonie remains questionable
The Canadian dollar continue to follow a short termed price channel that I have noted on this blog in the past. The potential for the loonie appears bearish, with a possible target of the last low (below $0.70 USD). A fairly reliable indicator for determining if the loonie is oversold or not is sentimentrader’ Read More