Technical Analysis of Stock Trends

Gold in them thar…

Posted on Aug 14, 2009 by WHC Bassetti.

There is certainly gold thar — it’s the finding it that’s the trouble.  As we see it the government should be doing everything in its power to hold down the price of gold.  If it breaks out and runs away (first of all they’ll never catch it) and second it will shake the economic system to its roots because it will be a screaming symbol of loss of confidence and a fear barometer.  So everytime it looks like it might take off they announce that the IMF is going to sell 400 tons.  That’s a lot of gold watches.

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Uranium lives!

Posted on Aug 13, 2009 by WHC Bassetti.

(Forever!)

Indeed, like diamonds, uranium is forever.  Messy stuff, but what the hey it looks like it lives as an investment medium.  As everyone knows we don’t do fundamental research.  It makes us break out in hives.  Seriously.  It takes so much time and most of the times is misleading or unnecessary.  That is — how do you evaluate earnings when they lie?  (General Electric just admitted they lied about earnings.)  If you can’t trust GE who can you trust?  Ronald Reagan?

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Some scary thoughts, since Halloween is only a few months away…

Posted on Aug 12, 2009 by WHC Bassetti.

As we sail into the dog days of August it is difficult not to see in this chart the makings of a truly humongous kilroy (reverse h&S) bottom.  The symmetry is startling, as price arrives at a potential neckline.  A pronounced downwave would be necessary here to complete the pattern, but that is always possible with the help of Goldman.

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More minerals longshots…

Posted on Aug 10, 2009 by WHC Bassetti.

Adding to the minerals longshots we previously pointed out here is NEMFF.PK available on yahoo finance with the same caveats we pointed out earlier — 100% risk, small positions only (very) and don’t look for anything from these nags for some years.

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And the score at the bottom of the 7th (5th?) (8th?) is…

Posted on Aug 08, 2009 by WHC Bassetti.

Indeed, who knows what inning it is?  Goldman hit this thing so hard so fast it knocked the ball out of the park.  Here are some statistics:  523 (elapsed) days, top to bottom, one long wave.  7729 Dow points lost, -55%.  You will remember the asymmetry of investment returns.  Lose 55% you have to make 119% to get even.  The rally is now 154 (elapsed — about 113 trading) days long, 2901 points, +44.8% .  We saw waves like this in the “90s, but this whole thing has been an eyebrow raiser.

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