Hello MarketClub members everywhere. This morning I learned that Starbucks Corporation (NASDAQ:SBUX) has 1.2 billion dollars loaded onto Starbuck's cards and their mobile app - that is more capital than almost 5,000 US banks! The other good news for Starbucks is that they are playing the 'float' which means they are getting a return on your capital much like a bank, albeit small, as interest rates are so low right now. So next time you are in Starbucks ordering your favorite cup of coffee, do yourself a favor and pay cash. Why let Starbuck's make a buck on your hard earned money? Overseas: The German Bund yields sink to new lows and yields in both Britain and Germany fell to record lows ahead of Britain's referendum on the European Union membership later this month. All of which is not particularly positive for the US economy or today's market. How The Markets Closed Last Friday: Every Friday I look back on the week and see where the markets closed the previous Friday. This look backwards gives me the opportunity to see whether a market is positive or negative for the week. One of the important market perceptions is to look at the comfort level of traders and investors on Friday and see if they are comfortable going into the weekend holding positions in various markets. With that said, here's how the major markets closed last Friday. DOW (INDEX:DJI): 17,807.06 S&P 500 (CME:SP500): 2,099.13 NASDAQ (NASDAQ:COMP): 4,943.20 Gold (NYMEX:GC.N16.E): 1,241.30 Crude Oil (NYMEX:CL.N16.E): 48.70 EUR/USD (FOREX:EURUSD): 1.1366 Indices: In regards to the indices, if they close lower for the week it would not be a good sign as they are reversing from an area of resistance that I had outlined earlier in the week. Gold (NYMEX:GC.N16.E): Gold, on the other hand, is beginning to pick up a lot of media and general support. Technically, it looks as though gold is going to close higher for the week. Next week could be a potential buy week based on the Trade Triangle technology. So, let's keep this market on the radar screen. Crude Oil (NYMEX:CL.N16.E): Crude oil, even with today's pullback, still appears to be closing higher for the week. I did mention yesterday how the $50 level would be support for crude. I believe it's in the support area right now.
MarketClub/INO, a division of TIFIN Group LLC, is affiliated with Magnifi via common ownership. Affiliates of Magnifi will receive cash compensation for referrals of clients who open accounts with Magnifi. Due to this compensation, a conflict of interest exists since MarketClub/INO has an incentive to recommend Magnifi LLC.
Magnifi LLC does not charge advisory fees or transaction fees for non-managed accounts. Clients who elect to have Magnifi LLC manage all or a portion of their account will be charged an advisory fee. Please see Magnifi’s Form ADV for additional information about fees and charges that may apply. Magnifi LLC receives compensation from product sponsors related to recommendations. Other fees and charges may apply.
Magnifi, normally $14 per month, will be available at no additional cost to MarketClub members. Account holders must be 18 years of age and have an approved Magnifi account. Magnifi will determine qualifying account holders at its own discretion.
U.S. Government Required Disclaimer—Commodity Futures Trading Commission
Futures and Options trading has large potential rewards, but also large
potential risk. You must be aware of the risks and be willing to accept
them in order to invest in the futures and options markets. Don't trade
with money you can't afford to lose. This is neither a solicitation nor
an offer to Buy/Sell futures or options. No representation is being
made that any account will or is likely to achieve profits or losses
similar to those discussed on this web site. The past performance of
any trading system or methodology is not necessarily indicative of
future results.
CFTC RULE 4.41—HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
All trades, patterns, charts, systems, etc., discussed in this advertisement and the product materials are for illustrative purposes only and not to be construed as specific advisory recommendations. All ideas and material presented are entirely those of the author and do not necessarily reflect those of the publisher or INO.com. No system or methodology has ever been developed that can guarantee profits or ensure freedom from losses. No representation or implication is being made that using the MarketClub™ methodology or system will generate profits or ensure freedom from losses. The testimonials and examples used herein are exceptional results, which do not apply to the average member, and are not intended to represent or guarantee that anyone will achieve the same or similar results. Each individual's success depends on his or her background, dedication, desire, and motivation.
You are now leaving a Magnifi Communities’ website and are going to a website that is not operated by Magnifi Communities. This website is operated by Magnifi LLC, an SEC registered investment adviser affiliated with Magnifi Communities.
Magnifi Communities does not endorse this website, its sponsor, or any of the policies, activities, products, or services offered on the site. We are not responsible for the content or availability of linked site.