This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

A Quiet, Steady Week That Sets Us Up for Strong Action Now

NEW YORK ( TheStreet) -- We had a nice, relatively quiet but solid week for markets and stocks for the most part, which is good to see.
    
You just never really know what a holiday week will bring, but this one was good.

We didn't see a lot of large moves, but leading stocks did hold up very well and are set to move higher in the week ahead, finally.
    
We've really seen some great moves lately, but those moves have tended to only last a very short time which is not that much fun.
    
Stocks and markets look and are acting strong, and we should be seeing the beginning of some larger and extended moves now, or very soon.
    
Gold continues to base here and did fall a bit later in the week but still looks like the next move is higher, not lower.
    
I'm not trading gold or the other metals at the moment.
    
We will have lots of time as gold moves off lows. But for me, there are easier places to make money at the moment.

Gold was pretty flat, only gaining 0.33% for the week, with many traders away for the Canada Day and Fourth of July holidays, which fell in the same week.
    
Gold did look great and ready to break out but then reversed.
    
Gold is always a tough cookie to trade.  It looks so good, or bad, but then reverses so often.
    
Yes, many will call it manipulation, and it may well be. But no matter what it is, gold acts strange, and it is rare that I will trade it.

[Read: Do Geopolitics Still Have a Firm Hold on Commodities, Oil, Gold?]

I have no positions in the metals right now.
    
I know a lot of people love gold, but this game is about making money, and there are much better and more predictable places to make it.
    
That said, gold still looks good but is trapped in the range between $1,330 and $1,310.
    
A move either way is a breakdown or a breakout and could be traded.

I'm not a huge fan of the heavier volume push lower Thursday, but with the 50- and 21-day moving averages supporting gold here, the next move should be higher.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AAPL $125.35 1.70%
FB $83.32 0.02%
GOOG $550.31 0.36%
TSLA $183.79 -0.65%
YHOO $45.09 -0.02%

Markets

DOW 17,976.16 +263.50 1.49%
S&P 500 2,082.52 +21.50 1.04%
NASDAQ 4,938.6780 +47.4590 0.97%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs