Gasoline Flirts With New 52 Week High

January 31, 2011

The United States Gasoline Fund(NYSE:UGA) made a new high for the year today by 0.25 cents to $43.50 a share before pulling back below to $42.95. The oil crisis in Egypt is having a direct impact on the price of gasoline. As we all know by now high gasoline prices are a direct tax on the users which is practically every consumer. The chart on the UGA remains strong at this time by trading above of all the major moving averages. There is still some minor daily chart resistance around the high of the session. Should the UGA rally higher the next important daily chart resistance level for UGA will be around the $45.00 level.

Nicholas Santiago
InTheMoneyStocks.com

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USO Rockets Higher

January 31, 2011

Spot crude closed the day higher by nearly 3.00 points as the Suez Canal waterway in Egypt remains closed. This closed waterway causes the major oil ships to have to take a different route in order to deliver crude. The popular United States Oil Fund(NYSE:USO) is trading higher by $1.13 to 38.71. This is a 3.00 percent rally in the popular oil ETF. The USO will have intra-day support around the $39.00 level and a bit more around $39.25. Remember spot crude is closed for the day on the New York Mercantile Exchange and the USO will usually not trade as actively as it does when spot crude is open.

Nicholas Santiago
InTheMoneyStocks.com


Stock Market Video: Markets Resume Float As Key Signals Watched, Profit Setups

January 31, 2011

 

 

InTheMoneyStocks.com breaks out the key technical analysis techniques they have become famous for. They analyze the charts on the market to showcase their technical trend line analysis, price, pattern and time values. By utilizing these methods and not using the common technical tools which almost never work anymore, they are able to call every major and minor market move avoiding Wall Street hype. InTheMoneyStocks.com looks at major support and resistance levels on the charts telling their viewers where the market will rise and fall. They talk about major rules that must be learned. Enjoy and come get their premium daily, month, weekly and intra day expert guidance on the markets, gold, oil, us$ and stocks in their premium nightly videosdaily market reportspro trader watch listhidden gems and technical tactics.


Alert: Walmart Approaching Buy Level

January 31, 2011

Wal-Mart Stores, Inc. (NYSE:WMT) has fallen sharply over the last two trading days. The stock had been on a recent spike for two straight weeks. This pull back offers a solid short term swing trading long opportunity.  This level is the 20 moving average on the daily chart.  WMT should see a 1-2 day bounce off this level and be good for some gains. The 20 moving average can been seen in the chart below and is an approximate level of $55.40.

Gareth Soloway
InTheMoneyStocks.com


Alert: Steel Plays To Watch

January 31, 2011

U.S. steel companies have been on fire over the last week, soaring on optimism and other key factors. Today, United States Steel Corporation (NYSE:X) is jumping higher again, trading at $57.21, +1.41 (+2.53%). As long as large cap steel companies stay strong, eyes must be leveled on small cap steel plays. This is a standard sympathy play which is used my many smart traders and investors. The key here is to put these small caps on watch and not pull the trigger until the large cap plays break recent highs.

The three small cap plays are all Chinese. With growth in China continuing, their valuations are very interesting at current levels. The first is China Precision Steel, Inc. (NASDAQ:CPSL) which is trading at $1.67. The second is General Steel Holdings, Inc. (NYSE:GSI) trading at $2.55 an the last is Sutor Technology Group Ltd. (NASDAQ:SUTR), trading at $2.05. All are trading at attractive valuations with intense possible growth ahead.  The key again is to watch for the right signals. At this time these are just on watch.

Gareth Soloway
InTheMoneyStocks.com


Sucking : Life Pulled Out Of The Markets

January 31, 2011

After a wild, huge volume day on Friday, the markets returned to “normal”.  The volatility of Friday has been sucked out, volume dry and the drama ancient history. The Middle East and Northern Africa continues to be caught up in riots and protests but the U.S. markets seem to be shrugging it off as key stocks lead the market higher and the Dollar drops.  Currently, the SPDR S&P 500 ETF (NYSE:SPY) is trading at $128.25, +0.53 (+0.41%).

It continues to be amazing to watch this market be controlled. So quickly the sellers vanish and the light volume allows for the market to float higher. Earnings from Exxon Mobil Corporation (NYSE:XOM) helped as they beat on revenue and earnings per share. The one small hiccup was their tax rate, which came in much lower than expected, increasing earnings per share. However, the stock is trading nicely higher today at $79.77, +0.78 (+0.99%).

After a strong Dollar move on Friday, it has fallen back sharply. The Dollar was up on Friday as scared investors ran to it because of the problems in Egypt. As said earlier, that is a distant memory and as the Dollar drops, the markets float higher. The PowerShares DB US Dollar Index Bullish (NYSE:UUP) is trading at $22.36, -0.13 (-0.58%).

The markets await major news later this week on jobs.  The Unemployment Rate and Non Farm Payrolls will be reported on Friday, February 4th, 2011 at 8:30am ET.  This will be something the markets will look to for direction.

While things are quiet today, smart investors and traders must be constantly watching Egypt and the whole region.  Egypt is key because they control the Suez Canal.  This is a major shipping route for the whole region and much of the world. Should things get dramatically worse, fear would boil over again and cause the Dollar to spike, sending the markets down again. Longs or shorts are available in this market. However, to do this right, each trader or investor must truly understand the chart dynamics.

Gareth Soloway
InTheMoneyStocks.com


China Pop Lifts Commodity Stocks

January 31, 2011

Last night, the important Shanghai Index(Chinese market) rallied higher by 1.38 percent. This type of rally in the Chinese markets will often help lift the popular commodity stocks. This morning many leading commodity stocks such as Freeport McMoRan Copper & Gold Inc.(NYSE:FCX), Southern Copper Corp.(NYSE:SCCO), and Cliffs Natural Resources Inc.(NYSE:CLF), are all trading sharply higher.

It is also very important to note that the U.S. Dollar Index is trading sharply lower today and this will usually help to inflate most of the leading commodity stocks higher. Should the U.S. Dollar Index find support and rally the leading commodity stocks could pullback or deflate lower.

Short term traders can watch for short term intra-day resistance on FCX around the $109.35 level intra-day. Should the U.S. Dollar Index decline further FCX stock could trade higher. The opposite would be likely occur if the U.S. Dollar index rallies as traders should look for a decline in FCX.

Nicholas Santiago
InTheMoneyStocks.com