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lee..Where in MA are you? I'm im Southwick (W. MA)
Dan, Interesting stuff. Merger mania has started. That is always a positive sign as they anticipate higher prices down the road.
The rally looks suspect so far so I'm taking ST scalps here. The scalping has been good too. However, waiting for a retest of 163-165 area and hopefully some volume hits to confirm that potential bottom. If not, new lows coming for the HUI.
I'm just playing these for a bounce play. A retest of the lows will occur at some point down the road before we can rock. Just too oversold right now.
Dan, What did I buy?
You ready? I'm going to shock you...as the say at the World Series of Poker..."All in..."
WHT, BGO, NG, NXG, NEM, RGLD, VGZ...heaviest in NG and BGO.
100% in now. Might even margin a little once we get started. 40% HUI haircut is about done. Not bearish anymore since all double top targets have been reached.
Dan, I think were reay to bounce. I'm loaded again.
Great article Dan. Thanks.
A little Chamber music for this reportcard? He is definately the grand master scratcher. LOL!!
Thanks Dan, NXG getting slammed again today. Yeesh!
Dan, Can you see any news out there on NXG? Down heavy on big volume yesterday and I can't find anything. Thanks.
http://stockcharts.com/def/servlet/SC.web?c=nxg,uu[l,a]daclyyay[dc][pb50!b20!f][vc60][iLc20!Lh14,3]&...
Re:HUI. Too much technical damage. Going to take some time before we can run again. But it will run.....
This is a great article explaining valuations of PM's. Another classic by Adam Hamilton.
http://www.321gold.com/editorials/hamilton/hamilton050704.html
We have a breach Zeev. Sitting on the 200MA at 1933. A close below there and it's lights out. All in......USPIX.
Zeev, Sure looks like a triangle setting up on the COMP. Resistance from the downtrendline around 2030-2040. Nice bounce off of 1941....good call so far.
If we close below NDX 1445 this week, it sets up a sell signal for me. I'll be all in on USPIX. If we close above, I'm out.
Zeev, NDX needs to close above 1445 tomorrow or I'm showing more down coming. Do you have this scenario as well?
softy...Your on....showtime.
Zeev..bear flag breakdown on HUI. 154-160 now???
Yep, I agree at 1940.
Dan, What do you think here? Maybe chasing the open hard?
Re:TASR. Then Herb Greenberg is slamming away also. He is known for destroying stuff.
http://cbs.marketwatch.com/news/story.asp?guid=%7B33382E4B%2DB35C%2D4DE1%2D83F0%2D420EBAD1AA22%7D&am...
Zeev, I'm holding off on NEM for now. If it closes on the lows with some juice that not good.
Zeev, the roadmap still the same or altered somewhat after Greenspeak.
Thanks for posting that Dan. Haven't read Fleck in a bit.
Greenspan is on the hill Wednesday. IMF warning him to send a message of higher rates to the global economy. The trigger for the indices???
Re: Tom Dorsey. I guess he is in the deflation camp. For rates to go lower, the dollar has to stay lower and commodities will most likely tank unless there is a global currency devaluation race that gets started....well see.
QLGC is sick. I see nothing but air until 19.66.
Thanks Steve. My objective is to always beat prime for the rate of return. I have a plan....trying to work on a structured deal.
**Does anyone know of a fund that capitalizes 2x the inverse on rising UST interest rates? Thanks.
COMP inverse H&S looking good so far. A break of 2079 and were off.
Zeev, You still holding DROOY? What do you think here? Thanks.
Hey Dan, Wild day huh? Do you think we put in an IT top at 431 or is this a shake and bake?
QLGC looks like it's got some gaps to fill both up and down. You are braver than I...I'll wait for 17-19.
Nope..sorry techy. Not yet. You'll get your months in the sun shortly though. Whoaaaa tiger! LOL!
Zeev,
Just a scenario...If the NASTY backfills to say 2010-2020, that would fill the gap and possibly set up an inverse H&S with neckline around 2085-2090 and a target of 2280 or so. Does this seem viable or am I off? Thanks.
gf..I am no where near Zeev's caliber but from personal experience over the years there are 2 things I would suggest if I may. Learn technical analysis first and always paper trade before deploying real money. If you use real money first, it can be a very expensive lesson.
Thanks Zeev. I was watching that 2216 area also like many others. Even a bunch of USPIX there will ultimately prove a nice trade. I'm waiting until tech earnings are over before jumping into USPIX which should take us to late April. I don't like shorting single stocks but this fund makes sense on declines.
Zeev...wouldn't a 50% fibo from the peak be around 3088 or so? I remember that the 3000 was a major support area for awhile that 2-3 good rallies launched off of before it eventually broke down. If we ever got to there in this environment, I'll throw everything and the kitchen sink short at it. Based on the Friday rally, I'm now a believer the turnips will see new recovery highs in the NASTY. USD also wants to go higher as well.
Zeev..HAUP. Nice bull flag forming here.
http://stockcharts.com/def/servlet/SC.web?c=HAUP,uu[l,a]daclyyay[pb50!b20!f][vc60][iLh14,3!Lc20]&...
I am having a tough time where the mast is on this one. What target do you have on a break? Thanks as always.
Zeev, Agreed. I don't like the PM action.