Before you go long with any stock, you better make sure the markets are due to rally. This will significantly increase your chances of making a profit.

So how do you predict which direction the stock market will go next?

In my Insider Club newsletter I routinely predict future market direction with the help of proprietary software that analyzes many different factors to determine with great accuracy, exactly when the markets will rise or fall.

However, when I first started out, I didn’t have such tools. Back then I used technical analysis (and still do when I look at short-term market movement) to determine future market direction.

Since I had no special tools back then, I had to develop a simple system to help me make fairly accurate stock market predictions. In the below video I want to share that strategy with you.

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If you are holding GLD, you should be aware of its technical circumstances (aka support and resistance). Gold overall continues to be attacked by bears and has yet to make headway since closing at a record high on December 2nd.

After a heavy distribution day sell off through $106 support ($1,060 equiv) yesterday, GLD has a high probability of making its way down to atleast $100. This area is not only the magical $1k equivalent of Gold, but it’s also conveniently where the 200 MA resides, thus being a good target for support.

Overall I recommend staying away from the ETF (and gold stocks in general) until GLD regains control back above $106 (which is now resistance) and then the 50 MA thereafter.

Some Gold stocks to avoid right now until the tides can turn include ABX, GG, KGC, ANV, AUY, amongst others.

Stay frosty.

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Want to discover how one trader turned $11,000 into $42 million?

By using chart patterns to tell when to get in and out of a stock. One such pattern is the Triangle. In this post I’ll examine the Triangle closer and show you how to use it to generate your own millions.

Simply watch the video below and be prepared to take notes:

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Three charts of the major market indices – S&P 500, NASDAQ, and Dow Jones – for you tonight to look at and judge yourself. The market has not reacted well to positive earnings reports from the banks (Goldman Sachs GS today) and now tech stocks like Google GOOG (which is down over 4% after hours currently).

For those of you that are fans of CANSLIM trading, trimming any long exposure you have tomorrow (if you have not yet already) will be your next course of action. Getting off margin and tightening stops is not a bad idea either. If the market can show some resilience and a few consecutive accumulation days then you can react accordingly.

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As a trader I move in and out of the markets. When I’m sidelined my idle cash sits there and earns a puny .05% from my brokerage house. A savings account at one of the largest banks in the US pays only .02% for it’s savings account.

So what is a trader to do to get a better return on idle cash?

One option I have looked into and used with great success is to find an “online” bank. These companies are FDIC insured just like the brick and mortar banks but without all the expenses.
Because of this they can offer some pretty decent rates.

Once you open one of these accounts (I recommend HSBC) you can use the account to transfer funds back and forth from your brokerage account.

For example, I’m going on vacation and closed everything so I don’t have to worry, or maybe the markets are crashing and I got into cash. Whatever the reason, if you have funds in your brokerage account you will not need, you can easily transfer funds from your brokerage to your online savings account, and then back again when you need the money.

Now it will take 1-3 business days for the funds to transfer, so don’t use this if you will be needing the funds in the immediate future. Whether you use it or not, it’s always nice to have your brokerage account linked to an online bank that pays a high rate.

If you want to learn more about HSBC’s Direct Online Savings. Click this link!

You can open an account with as little as $1.00 and easily link it to your brokerage account.

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