Expert technical analysis of financial markets by JC Parets
by Tom Bruni
From the desk of Tom Bruni @BruniCharting
Thank you to everyone who responded to this week’s mystery chart, I expected it to be a good one and it was.
Most respondents were aggressively selling this one, while others wanted to see a more decisive move before making a decision.
With that as our backdrop, let’s take a look at this week’s chart. [Read more…]
by JC
I can’t believe I’m publishing the 100th Episode of this podcast that I started in the summer of 2017. My first guest ever was Ralph Acampora! I mean, how could it not be right? Since then I’ve had the privilege of interviewing Portfolio Managers, Traders, Analysts, Best Selling Authors and even a World Series of Poker Champion! People all over the world have approached me how much they’ve learned from listening to the podcasts. It’s been an amazing experience for me all around.
Since it’s Episode 100, how can I not invite Ralph back on the show to talk markets? In this episode Ralph describes the recent trip that him and I took to India. We both had an awesome time and are blown away by the interest out there for Technical Analysis. It really is incredible. He thinks we’re going to see breakouts in Gold and Silver soon but that’s not necessarily bad for stocks. Both can rise together.
I always enjoy my conversations with Ralph. He has great old stories about technicians that we’re too young to remember or even know about. He’s good with giving credit to some of his predecessors that probably don’t get the recognition these days that they deserve. Louise Yamada for example gets a lot of credit for the phrase, “The bigger the base, the higher in space”. But she’ll tell you that she got that from her boss and mentor Alan Shaw. And Alan will tell you that he learned it from his boss.
So I think it’s important to remember the ones who came before us. I would argue that over 95% of what you see me do, say and talk about comes from something I learned from my colleagues and/or predecessors. I didn’t make any of this stuff up. The credit goes to all of them and in most cases they have all been guests on this podcast. I want the world to be able to learn from the people that I learned from and continue to learn from every day. Ralph is a great example, obviously!
Here is the episode in full: [Read more…]
by Tom Bruni
From the desk of Tom Bruni @BruniCharting
With our upside price objectives being met across in Equity markets across the globe, we’ve shifted our focus to buying Bonds and selling Emerging Market stocks with the expectation of a choppy environment for stocks as an asset class over the coming weeks and months.
With that said, just because the indexes may be choppy there will be winners and losers that we can take advantage of long and short.
In light of that, today we’re reiterating our view on two pot stocks we outlined weeks ago that are still actionable and uncorrelated with the broader market.
by Tom Bruni
From the desk of Tom Bruni @BruniCharting
One of my favorite tasks each week is putting together our “Top 10 Charts” of the week report for Institutional Clients.
This week was very macro and intermarket focused, but one stood out as particularly interesting so I wanted to pass it along.
by Tom Bruni
From the desk of Tom Bruni @BruniCharting
Given our expectation of a choppy market environment over the coming weeks and months, we’re focusing on areas of relative strength/weakness.
Canadian Telecom stocks are hitting new all-time highs on an absolute basis, presenting some new trading opportunities on the long side.
by Tom Bruni
From the desk of Tom Bruni @BruniCharting
New Mystery Chart!
For those new to the exercise, we take a chart of interest and remove the x/y-axes and any other labels that would help identify it. The chart can be any security in any asset class on any timeframe on an absolute or relative basis. Maybe it’s a custom index or inverted, who knows!
We do all this to put aside the biases we have associated with this specific security/the market and come to a conclusion based solely on price.
You can guess what it is if you must, but the real value comes from sharing what you would do right now. Buy, Sell, or Do Nothing?
by JC
Ok so if you’re not caught up with our approach to the market right now, I encourage you to read both “We’re Buying Bonds” and “Selling Emerging Markets” from this weekend.
Today I want to talk about the non-randomness of markets. I think the Russell2000 Small-cap Index is a great example to walk through. For one, it helps you understand the way we look at markets, but selfishly it’s also great because it reiterates a lot of principles that I want to continue to focus on moving forward. Writing helps. Everyone wins. [Read more…]
by JC
In case you missed it yesterday, we’re selling stocks up here and buying bonds.
I tried to outline the levels as best as I could. Let me know if you have any questions!
Quickly today, I just wanted to point out one chart of Emerging Markets that really stands out. Remember this Index is broken down as follows: China 32.40%, South Korea 11.84%, Taiwan 11.71%, India 8.13%, Brazil 6.78%, South Africa 4.25% & Russia 3.84%.
It’s basically 72% Asia and 10% Latin America.
Here’s what it looks like: [Read more…]
