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MAY 16, 2024REVENGE OF THE SMITH The Geopolitical Chess Game Gold has been in the news a lot lately. But to governments and central bankers around the world, it’s nothing new. Gold has always held a special place as a symbol of wealth and stability. Yet, recent trends show that central banks around the globe are flocking to reinforce their reserves with gold. Let's delve into the data and understand why countries around the world are stockpiling gold and what it means for global finance. — Geof Smith“I’ve never seen a market anomaly as reliable as this one.” A while back, on an anonymous message board someone posted a message… A message that would change everything! They claimed that there’s a short window of time when options on one particular ticker are almost always ‘mispriced.’ And while most people wouldn’t even know what to do with that information… One maverick trader as turned it into a 79 - 0 win streak!SCOTT WELSH’S TICKER TALES MS Close to a Breakout We’ve talked about the recent rise in bank and financial stocks, and that move has continued. Several banking stocks have climbed near a breakout point and the banking group in general is now one of the top 35 hottest in the world. And, like its cohort, MS is now nearing a breakout after a very long consolidation period. Here’s the chart: MS is nearing a high it hasn’t seen since early 2023. A break above $100.99 could lead to a sizable explosion. Especially if we get hints at a future rate reduction. We’ll keep an eye on it. Happy trading, — Scott Welsh P.S. As a reminder, these plays are based on my longer-term Weinstein Stage Analysis method. The charts above use weekly candles and a 30 week simple moving average. For details on this method, see my explanation on this Ask The Pros episode starting at timestamp 20:45. |
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