With stock markets worldwide resting on important support, all eyes are on Greece in a bid to gauge whether those supports will hold. The ECB continues to run around giving new meaning to the phrase “rearranging deck chairs on the Titanic”. The eternal political game of kicking the can down the road will not end until the market eventually kicks back. And when it does it will be a mighty wallop.
June 21st, 2011 | Murray Dawes | 0 comments | ContinuedArchive for Murray Dawes
Murray began his career on the Sydney Futures Exchange trading floor in 1993 with Swiss Banking Corporation (SBC). He spent a couple of years in the 3 and 10 year bond and option pits before moving on to the Share Price Index (SPI) futures and options pit. From there he became a broker with SBC specialising in SPI futures and options to institutional clients. After leaving SBC Murray continued his career in broking at Bankers Trust Australia. Then in 2001 Murray moved to Melbourne to work as a hedge fund trader for one of Australia’s wealthiest families. In 2003 he was ready to set up his own firm providing the same proprietary technical trading system to some of Australia’s boutique hedge funds. The success of Murray’s system led to him trading a $10 million account for a high net worth individual. This involved trading Australian and US futures and Australian stocks. Now Murray heads up the technical analysis desk for us passing on to readers some of his experience from 16 years of trading.
Next Stop 4500
The more data I see coming out of Australia the more I fear we may be heading towards a hard landing. The number of home loans approved in March fell to a 10-year low. Economists had expected a 2% rise and instead we got a 1.5% fall.
May 17th, 2011 | Murray Dawes | 3 comments | Continued
A 1980 copy of Playboy Predicts the Future for Silver
Last night I lay back on my couch and had a couple of glasses of red, while reading an article from 1980 about the Hunt brothers and the events that surrounded the last spike in Silver to $50.
May 13th, 2011 | Murray Dawes | 0 comments | Continued
Traders: Ready Your Spears
Today I’m going to reveal how I *might* have taken leave of my senses… more on that in a second. But for a sneak peek at where I think the markets are headed next, take a look at my recent video market update from last Thursday…
May 11th, 2011 | Murray Dawes | 0 comments | Continued
The Early Bank Catches the Trade
Yesterday I recounted the story of the Hunt brothers and their attempt in the late 70s to corner the silver market. This fascinating story is especially relevant today after the huge moves in the silver market over the past week.
May 10th, 2011 | Murray Dawes | 3 comments | Continued
How a 1980 copy of Playboy Predicts the Future for Silver
Nelson Bunker Hunt – bought so much silver in the mid to late 70s that they nearly cornered the market. They bought 55 million ounces in late 1973 and early 1974 at around $3–4 an ounce and sent 40 million ounces of it by chartered plane to Switzerland because they feared the US government would confiscate silver in the same way it had stolen gold from US citizens in the 1930s.
May 9th, 2011 | Murray Dawes | 2 comments | Continued
Groundhog Year
It feels like déjà vu. On the 15th of April 2010 the ASX 200 peaked at 5025 and then proceeded to fall off a cliff, bottoming out at 4175 on the 21st of May, just over a month later. That was a fall of 17% in a little over a month. As I look at the market today I can see similar warning signs flashing.
April 18th, 2011 | Murray Dawes | 2 comments | Continued
The Bernanke Put
We are now only a week away from finding out how much money Federal Reserve Chairman Ben Bernanke is planning to print. This is the most important news we have seen in a long time.
October 28th, 2010 | Murray Dawes | 0 comments | Continued
Not Adding Up
The ASX 200 is underperforming the US markets massively at the moment. I find this fact quite intriguing when you consider that the Australian Dollar has been rallying strongly on the back of strong commodity prices caused by the threat of QE2.
October 21st, 2010 | Murray Dawes | 1 comment | Continued
A Contrarian View
Back on the 24th August I warned of an imminent sell off because the market was resting on some important technical levels. This view turned out to be wrong. The market found support at these levels and has rallied strongly since. So does that mean I have changed my view on the markets and become bullish?
September 21st, 2010 | Murray Dawes | 1 comment | Continued
How I generate ‘slipstream’ trades
‘Slipstreaming’ is a cycling metaphor that fits perfectly with what I do in the markets. If you’ve ever watched a big cycle race, like the Tour de France, you’ll know that the key to winning a stage is timing: knowing when to sit in the ‘slipstream’ of the rider in front of you (letting them do the hard work) and knowing which points in the race to attack.
September 16th, 2010 | Murray Dawes | 0 comments | Continued
Myths, Human Psychology and Trading
There are many myths about the stock market. No one is exactly sure what the stock market is or how to make money from it consistently. We all have to come to our own understanding of what it is and do the best we can from there.
September 15th, 2010 | Murray Dawes | 1 comment | Continued
Resistance at 4,700
Last week we released a video to Daily Reckoning readers that was my weekly market update sent to my subscribers in Slipstream and Swarm. In it I was very bearish about the immediate future of the market because the ASX 200 had fallen below the key level of 4,400.
September 9th, 2010 | Murray Dawes | 8 comments | Continued
Big Double Dipper
The US markets fell 1.5% last night after rallying a similar amount the previous session. This is a clear indicator of a market in trouble. The market rejoiced on Friday night after the US GDP figures came in at a better than expected 1.6%. The market ignored the fact that the expectations for the figure had to be ratcheted down twice…
August 31st, 2010 | Murray Dawes | 0 comments | Continued
Anatomy of a Slipstream Trade
In relation to the markets I don’t really listen to the constant stream of commentary from all those “experts”. I have grown accustomed over the years to journalists wheeling out the bulls on the days when the market is up and then dragging out the bears when the market goes down. If the media was a human being you would have to conclude that they were suffering from multiple personality disorder and would have them committed.
July 6th, 2010 | Murray Dawes | 0 comments | Continued
