Archive for March, 2009

Beware of oncoming train

Posted on Mar 23, 2009 by WHC Bassetti.

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In case you hadn’t noticed the rally is on.  Hedging and scaling out are in order.  This may carry on for some times judging by the market today.  If you paid heed to our recent posts you shouldn’t be discomfited.  A chance to take some profits (a little later) and short some more.  For the moment the bear hunt is on.

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Gold! Gold in…

Posted on Mar 22, 2009 by WHC Bassetti.

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Gold in a quandry.  The last few days are a clear buy signal.  Sometimes you take a valid signal and get your nose bloodied.  That’s life.  That’s the markets.  The stop is about 5% under the nearest low.  Close only.  When this market breaks out it will be too late to get aboard.  Same for silver.  This is a musical chairs market.  We are undertaking a complete new analysis to see if a new strategy comes out of that.

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Big powwow Tuesday the 24th at Golden Gate University

Posted on Mar 22, 2009 by WHC Bassetti.

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4th floor computer lab at 4:30 for those of you in the Bay Area.  See you there if it’s easy for you.  Bring a crystal ball.

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The question everyone wants answered: what’s it going to do next?

Posted on Mar 22, 2009 by WHC Bassetti.

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And of course no one in the world knows.  Beware of anyone who claims otherwise.  Analysis can tell you a lot of things, but most of the time it tells you what just happened or what is happening, but not what is going to happen next.  There is of course the old joke about a consultant being a person who borrows your watch and then tells you what time it is.  In line with that we want to tell you that the blast off from the bottom has paused for two days.  What does it mean? you ask, just after we told you that no one knows what it means.  Well, what it means is that everyone can have anxiety fits about what it means.  Then we tell you that the present trend tends to continue.  The present minor trend is up.  It will probably continue.  The two day downdraft doesn’t appear to be sufficiently strong to reverse the rally.  Anyway if you’re worried about two days you’re too close to the market.  The real meaning of this rally is that a new basing point is being formed.  Once we have three days away on the downside we’ll have a new basing point.  Will there be an opportunity to put on new shorts?  We’ll let you know if we see an obvious chance.  Would you believe there are readers who think we are geniuses for our work?  Here.  Here’s your watch back.

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$djaig — agricultural commodities

Posted on Mar 20, 2009 by WHC Bassetti.

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We have been saying for awhile that it was getting to be time for the agricultural commodities and surprise! here’s a buy signal.  This index is tracked by DJP which has an identical chart pattern.

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