Archive for November, 2008

Is silver a gold mine waiting to explode?

Posted on Nov 12, 2008 by WHC Bassetti.

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Is Silver a gold mine waiting to explode? Or how to break the rules and live to not regret it. 

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A very technical analysis of the present wave pattern in the Dow

Posted on Nov 10, 2008 by WHC Bassetti.

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Measuring from the wave high in August to the wave low in October the wave was a 33% decline.  The automatic bounce to October 14 recovered 24% of that, and on November 10 the Dow is down 25% from the wave high.  The automatic bounce actually appears to count as a rally or upwave (2 days!).  It is also a basing point as may be confirmed from subsequent behavior (or misbehavior, as Mandelbrot would say).  That is a point of 9794.07.  A 5% stop calculated from that point would be as illustrated here.

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The Dow, the S&P — lots of nothing

Posted on Nov 07, 2008 by WHC Bassetti.

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Nobody knows what is going on.  Speculators are stepping forward to buy stocks.  (Some of them think they are investors.) But the charts show nothing but sideways.  Here’s what’s going on:  We are either in a consolidation or a reversal.  It is a trading market.  Investing in a trading market is not a healthy thing to do.  Investors (trend followers) are still short.  There may be stocks making bottoms.  We looked at the Dow stocks and didn’t see anything we liked.  Today on NPR analysts comented that counting all the people who are unemployed (why on earth would you do that?) not just those who are still looking for a job would probably produce a figure of 10 or 11%.  That is not a context for strong stocks.

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Cancel the pig. More thoughts on the dollar.

Posted on Nov 07, 2008 by WHC Bassetti.

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We looked at the chart again today and reanalyzed.  There are all the signs of a downwave so new positions or add ons are probably not in order right now.  Right now waiting for the downwave to exhaust itself or to take us out is the thing to do.

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Strange synchronicity of technical arcana in the Dow

Posted on Nov 06, 2008 by WHC Bassetti.

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Yesterday, looking at the chart of the Dow We were prompted to ask ourselves what that horizontal line was at 9650.25.  

So we zoomed out and this is what we found:

 

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