Technical Analysis of Stock Trends

The Gold stop.

Posted on Sep 10, 2009 by WHC Bassetti.

Looking at today’s action so far in gold we set the trading stop at 95.85.  Tight, but we don’t trust this market.  As we said previously the best way to trade this is not to trade, but to invest.

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Sell gold. Get whiplash.

Posted on Sep 09, 2009 by WHC Bassetti.

From positive to negative in one day.  The last two days went from bullish to bearish in a trice.  The formation now looks like an exhaustion gap which has been closed.  Tomorrow (Thursday) we will look at the market and probably close all but our core position in gold depending on price action then.  We’re leaving the silver position on, but and argument could be made for closing it too.

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Buy gold. Sell dollar. Carefully.

Posted on Sep 08, 2009 by WHC Bassetti.

While gold broke to new highs today (not well shown on this chart, but still happened) the dollar broke to new lows.  Our considered opinion and analysis is that this is just a leg up, and not the beginning of the end.

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Buyable and non buyable ETFs- building with Chinese BRICs

Posted on Sep 05, 2009 by WHC Bassetti.

Our list of ETFs currently looks like this:

DBA, MOO, FXE, INP, RTH, XHB, USO are not on our good list.

Then there are some ETFs in apparent uptrends with more or less favorable patterns like XLF.  These are:

IWM, IAI, XLF

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Gold! Gold! Gold in… (also silver)

Posted on Sep 03, 2009 by WHC Bassetti.

These are strong buy signals in gold and silver.  We pointed out a few letters back that triangles were being set up in these issues.  the breakout has occurred.  We are adding to our positions in these issues.  Note, of interest that gold is bouncing off the 2005 trendline.  We have been basically long gold for years, but you don’t want to hear the details.  It would make you celebrate and cry.

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