Apple Update

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Apple is giving back its gains from last week, ITZ continues to be bullish long term on Apple and suggests using any pullbacks as entry points. Past ITZ Posts link & Link

Gold Update

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Gold is testing near term resistance currently, it needs to break higher to complete the shoulder on an Inverse Head & Shoulder pattern. see past post

Starbucks (SBUX)

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The Seattle-based coffee retailer raised its profit forecast for its September fiscal year, but that outlook still fell short of Wall Street’s current view.

Starbucks' CEO Discusses Q2 2012 Results - Earnings Call Transcript

ITZ Commodity & FOMC Update

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Federal Reserve Chairman Ben Bernanke said on Wednesday that he is comfortable with the current stance of interest rate policy given the forecast that economic growth will remain moderate over coming quarters and then only pick up gradually. Read FOMC Statement FOMC Economic Projections

 

 

ITZ has posted several trade suggestions over the last several weeks ...here is a recap:

Apple (AAPL) April 24 Entered a 1/4 position @ $559 ($500 Stop) TWITTER LINK

Qualcomm (QCOM) April 24 Entered 1/4 position $61.40 ($57 Stop) LINK

Silver Wheaton (SLW) April 17 ITZ is re-entering SLW with a 1/2 position @ $30 set stop @ $27 LINK

Gold ETF (GDX) April 4th half-position @ $47.50 STOP currently $44 LINK

Halliburton (HAL) April 4th half-position @ $33  LINK
*Note ITZ was stopped out of Halliburton (HAL) @ $33 after raising stop level

Freeport McMoran (FCX) April 5th half-position @ $38 with a $35 stop LINK

ProShares Ultra Crude Oil (UCO) April 5th half-position $42 with a $39 stop. LINK 
Adding to position today @ $43.50-- now @ full position average cost $42.75 LINK

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Apple & Qualcomm... BUY!

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With the Nasdaq 100 at session lows as I type, ITZ is suggesting long term investors enter Qualcomm & Apple here and add to positions on 1/4 increments.

Qualcomm & Apple post from last week link

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Apple & COMPQ Chart

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Apple ($AAPL) reports earnings after the close tomorrow.

S&P 500 Heading Lower

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Below are 2 SPY charts, a Bear Flag formation and a longer term Head & Shoulders formation. Both indicating that the S&P 500 is set to possibly  head lower. ITZ has suggested using the Proshares Ultra ProShort S&P500 (SPXU) to hedge the move lower.

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Will The Euro Rally?

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French Election To Determine Future of 'Merkozy' Alliance  Read    Euro Ready To Break If French Election, Spanish Crisis Weigh Read

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Apple & Qualcomm Update

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Two news stories took Apple read & Qualcomm lower  read

Is The VIX Set To Rise?

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It maybe an early call but the Volatility Index appears to be in a Pennant formation a break higher should send it to it's 200ma around 26. ITZ downside target on the $SPX is 1340.

ITZ PIX Update: Re-entering SLW & Adding to UCO

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ITZ has posted several trade suggestions over the last 2 months...here is a recap:

Devon Energy (DVN) Entered on March 15th @ $72.50 -- Stopped April 10th @ $69 LINK

Silver Wheaton (SLW) March 23rd $32.49 average cost basis Stopped March 28th $32.50 LINK
ITZ is re-entering SLW with a 1/2 position @ $30 set stop @ $27

Gold ETF (GDX) April 4th half-position @ $47.50 STOP currently $44 LINK

Halliburton (HAL) April 4th half-position @ $33 Current Stop $30 LINK

Freeport McMoran (FCX) April 5th half-position @ $38 with a $35 stop LINK

ProShares Ultra Crude Oil (UCO) April 5th half-position $42 with a $39 stop. LINK
Adding to position today @ $43.50-- now @ full position average cost $42.75


 

Copper- COT

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Individual traders that consider positioning themselves on the same side of the market as large commercials, when the large commercials become one-sided in their market view, is the best way to utilize the C.O.T. report.

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Gold Inverse Head & Shoulders

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Gold futures daily chart needs to make a move this week to confirm an Inverse Head & Shoulders. Silver is also setting up a similar IHS pattern.

Silver Wheaton Update

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Although slightly below where ITZ entered Silver Wheaton (then stopped out), today's candle is bullish and possibly entering a position is suggested.

Past SLW Posts link link
 

ITZ Mid-Week Review

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Carter Worth, Oppenheimer Asset Management, checks the charts for investment opportunities, with the Fast Money crew.