Technical Analysis of Stock Trends

Platinum. Sigh. A mismanaged position.

Posted on Nov 20, 2009 by WHC Bassetti.

Here is an example of a mismanaged position.  We bought platinum in January.  Obvious isn’t it?  Broken downtrend line, clear neckline over a clear bottom.  As can be seen we have handsome profits in the position, made even more handsome by metals going parabolic (sigh, soon to be corrected).

Continue Reading

Short the Euro. Party’s over.

Posted on Nov 20, 2009 by WHC Bassetti.

We just said that to get you riled up.  But…  We think there is a low risk trade in shorting the euro.  The stop is just over the nearest high by 1% or so, or by watching the hourly bars for a breakout and power bars.  This is for aggressive traders only.

Continue Reading

Gold climax coming?

Posted on Nov 19, 2009 by WHC Bassetti.

This is a time to be especially alert.  The precious metals charts have gone parabolic and the angle of ascent is extreme.  We opine (opine is a little different from analyzing, but is close) that a climax is near.  The question is whether “they”  will be able to bring gold down by a significant amount.  The ETF funds now hold such holdings that an all out attack on gold can only take it down for a short period.

Continue Reading

Wave analysis of the Dow. Crucial stuff.

Posted on Nov 17, 2009 by WHC Bassetti.

Wave Analysis of the Dow from several dates — October and November

10/22/09

Since March 9 the Dow has made an orderly march upwards, if not an April upwards.  Wave studies are always interesting so it is interesting to observe what is happening here in the march, and also in this October.

Continue Reading

Buy signal in gold.

Posted on Nov 16, 2009 by WHC Bassetti.

This is a buy signal for aggressive traders in gold.

A little unsettling to think that we might be in a blow off  already, but gold is running and he who rides the tiger can’t get off for lunch.

Continue Reading