Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Monday, the 3rd of December.
| MARKETS WITH STRONG TRENDS: | MARKETS WITH MIXED TRENDS: |
| COPPER (Dec): Higher for the week. CLOSED LAST FRIDAY AT $3.6230 | S&P 500: Higher for the week. CLOSED LAST FRIDAY AT $1,416.18 |
| SILVER (Spot): Higher for the week. CLOSED LAST FRIDAY AT $33.36 | CRUDE OIL (Jan): Higher for the week. CLOSED LAST FRIDAY AT $88.94 |
| EURO (Spot): Higher for the week. CLOSED LAST FRIDAY AT 1.2985 | GOLD (Spot): Higher for the week. CLOSED LAST FRIDAY AT $1,714.19 |
CRUDE OIL PUSHES TO ITS BEST LEVELS IN 5 WEEKS
Continued hedge fund buying over the last two weeks pushed crude oil to its best levels in over five weeks before profit taking kicked in. Crude oil appears to be making a strong base capable of carrying today's black gold up to the $93.00 to $94.00 level. A solid close over the $90 a barrel level, basis the January contract, should be viewed as very positive for this market.
GOLD STUCK IN A RANGE FOR NOW
The gold market is in a bull trend, but is trapped in a trading range at the moment. A solid close over the $1,720 level would set this market up to challenge the recent highs around the $1,730 level. We expect to see increasing support on any pullbacks to the $1,710 - $1,705 area.
Bet on Gambling and Energy - 2 STOCKS TO BUY:
LAS VEGAS SANDS (LVS)
CMS ENERGY (CMS)
Throw out these two - 2 STOCKS TO SELL:
AOL (AOL)
JANUS CAPITAL GROUP (JNS)
In today's video we review these 4 stocks and the major movements in the major markets.
Have a great trading day,
Adam Hewison
Founder & President INO.com and co-founder of MarketClub.com.
Click Here to view today's video
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