Archive for October, 2011

They were wrong. Tattered flag? Exiting from the maze…

Posted on Oct 29, 2011 by .

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We habitually mock, satirize and excoriate the punditry, the financial press, politicians, the Texas Rangers, modernized productions of Shakespeare, supply side economists, Groupon, IPOs, Meg Whitman, banksters, psychopathic CEOs, faux Shakespeareans– but we digress and haven’t even half covered the list, so we will stick to the financial press and punditry over the past several months. SIX STOCKS TO BUY NOW! SEVEN STOCKS TO MAKE YOUR FORTUNE! BUY BUY BUY!

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GLD and SLV..is the game on again?

Posted on Oct 26, 2011 by .

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These look like signals in gold to us, so we scaled in to a small position as we did in silver.  We don’t have an excess of confidence in the trades, but the chart is the chart and these power bars are how rockets blast off.  Of course some times they blow up before they gain orbit, but that is half the fun.

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Flags flying…

Posted on Oct 24, 2011 by .

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This chart is deliberately not annotated.  The reason is to call attention to the formation since Oct. 3.  It looks suspiciously like a flag.  To remind you, a flag appears on a flagpole halfway through the wave, implying that we will now see upside to equal the distance prices have come from Oct 3 to the flag bottom.

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Time to think of bull hedging…

Posted on Oct 22, 2011 by .

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As prices in the SPX move out of the five day congestion — and perhaps out of the  53 day congestion — it is time to think about hedging against upside markets.  Numerous commentators consider the piercing of 1230 significant.  What we think of it is shown by the chart.  Not yet.  But close enough to think about.  And certainly close enough to hedge — i.e., by venturing some longs or lifting some short hedges.

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No news…

Posted on Oct 21, 2011 by .

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In the Spanish Civil war a fascist Colonel seized the Alcazar of Toledo when Franco led a military rebellion against the legal elected government.  Republicans battered the Alcazar to pieces for weeks attempting to dislodge the fascists.  Hundreds of lives were traded on each side.  After some weeks of this the Colonel reported on the state of the siege:  “Sin novedad en el Alcazar” (No news of interest from the Alcazar.)  This was idolized as the height of sardonic courage.

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