ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for alerts Register for real-time alerts, custom portfolio, and market movers

Anyone remember that hurricane in 1987?

Share On Facebook
share on Linkedin
Print

This is an extract from my opening report on Wednesday 30th October 2012:

©

Whilst the US is lashed by the biggest storm in 70 years, markets over in this part of the globe seem to be celebrating but I’m sure these two events are not connected! However for now the rallies do count as the corrective ones I have been talking about and how many of you remember the hurricane over here in 1987 and what came next?…

The Dow closed on Friday at 13107 up 4 points with the spread betters now quoting it at 13077 (-30). US markets were closed yesterday and will apparently again be closed today so not much to add to my weekend video clip (http://www.johnpiper.info/johnpipervideolatest.wmv). A weak rally looks due.13000 remains key as per my previous reports and that rising wedge pattern – see chart at http://www.johnpiper.info/301012.gif  – remains convincing. As I said one scenario would be that this continued decline may well take out 13000 to form a low and we may then re-test the lower parameter – a failure to break back above would be strong confirmation of a major peak. Another scenario is that a break below 13000 would lead to “fast” action. I shy away somewhat from mentioning the parallel with the 1987 Crash which was preceded by a hurricane in the UK demolishing half the trees in Hyde Park (or so it seemed as I walked through the following day) but have now somehow managed to mention it twice! We remain 50% short of the NASDAQ via the ETF Proshares Trust Ultrashort QQQ

To receive occasional reports at zero charge email me at jptt@aweber.com

For subscription details go to http://www.johnpiper.info/jptpromo.htm

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

 
Do you want to write for our Newspaper? Get in touch: newspaper@advfn.com