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  • The Bull is Back – A Full Market Recovery

    Posted on September 16th, 2009 Chris P. No comments

    If you watch business television, you will hear a lot about a W shaped recovery and a V shaped recovery. Simply put, my bet is with a V shaped recovery and we are well into it. Most analysts were expecting a drop once we broke 1000 on the S&P, and it didn’t happen. We are well through 1000 and approaching 1100.

    Is 1500 on the S&P possible next month? Absolutely not, but in 2010 I certaintly think so. I believe we are going to fight a little battle here at the 1075 range, maybe falling back as low as 1025. But generally speaking the charts are strong and very bullish. We are out of a recession and its only a matter of time till you hear Bernake say it.

  • Gold Target for Week of September 14th

    Posted on September 14th, 2009 Chris P. No comments

    Buy: $991 | Stop: $984 | Target: $1015 | Quick Target: $1005

    Barrick Gold Logo

    Barrick Gold Logo

    Before I get into the report a little, I want to speak about a very significant development in the gold mining industry. Just last week, the worlds largest gold miner Barrick Gold Corporation (ABX) announced they will be buying all their hedges at cost of almost 6 billion dollars. This is an incredible development in the gold mining industry. Simply put, Barrick Gold is betting 6 billion dollars that gold will move upwards. The hedge contracts that Barrick had in place created great security for the company, allowing them to make money even if the price of gold went lower. Removing these hedges effectively removes the security blanket and allows them to reap rewards only if the price goes upwards. If they are betting 6 billion dollars that gold is going to go up from here, that sure means a lot to me.

    As for the report, Barrick thinks gold is going up and so do I. I’ve been 100% right in the past month in terms of the gold patterns and I anticipate I will continue to be right going forward. Right now, my signal is buy buy buy. Buy on all pull backs in the 990′s and high 980′s. I see lots of support at 996 and lots of resistence at 1001. If we can break 1001 by Tuesday, we could see a big jump to 1015-20. Enjoy trading everyone!

  • QuestradeFX Desktop Software Warning/Error

    Posted on September 13th, 2009 Chris P. No comments

    Hey everyone, I wanted to make a quick post on an error that I encountered with QuestradeFX desktop software. Here is the error I received:

    Unable to connect to Rates Server. Connection Dropped. Please try logging in again.

    If you try to login again, it won’t work. If you call support, chances are they won’t beable to help you. If you read this post, you’ll fix all your problems! It’s a simple fix. Just follow the steps below to fix the error:

    1.  Go to your control panel and go to Uninstall Programs.
    2. Find Microsoft .NET Framework. Uninstall the version you have. In my case I had 3.5 SP1 on Microsoft Vista.
    3. Go here and download .NET framework 2.0: http://linkbee.com/C4NVK
    4. Once installed, restart your computer and enjoy the desktop version of QuestradeFX.

    I hope that helps! If not, just post a comment and I’ll try to help out.