Zeev's Turnips Patch-No Politics (ZEEV)

[basserdan]

Doji city everywhere
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Hi Tony,
Interestingly, SI's Little Joe, who imo is a pretty good technician, picked up on the same theme. Do you agree with his comments?

While still feeling that the PoG could work a bit lower, I seem to be getting a bit antsy to get back on the PM rollercoaster while it's still relatively near to the ground.


In reviewing the gold and silver charts tonight I was struck by the number of hammer and doji candlesticks. These are signs of uncertainty and often mark reversals. The rule is that if tomorrow is an upday the candlestick is validated. I have a strong hunch we will see a nice rally shortly, but this may be just for the nimble traders among us. I think if this goes much lower, it will take some time to work out and get moving to new highs. On the other hand if we were to see a reversal to new highs off of this low, I think it signals the mother of all bull markets (provided it occurs on huge volume).
That is my current thinking for what it is worth.

I may change my mind tomorrow.

Little joe

http://www.siliconinvestor.com/stocktalk/msg.gsp?msgid=20025209