Archive for June, 2013

Chicken Farrell…doom looms…

Posted on Jun 29, 2013 by .

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0628spx

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=9&dy=0&id=p20049953156&a=214966864

We frequently look at Marketwatch  on the web — mainly for laughs but you never know when an idea will come along, and it is necessary to expose yourself to differences of opinion, and occasionally a piece of decent analysis will crop up — like a dandelion in a field of foolishness.  You should understand that provocation is the main intent of these blogging heads.  Otherwise no one would read them.  Paul Farrell has a piece on the  site which guarantees a 98% chance of a crash in 2014.  Fortunately for him that is sufficently far off that we will all have forgotten such rash predictions by then.

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alphabetagammizado — and key reversal days…

Posted on Jun 22, 2013 by .

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0621spx

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p91663446137&a=266398464

 

alphbetagammizado is a secret code which points to the album of the same name by the brazilian musician Carlinhos Brown — a tour de force which will set your blood boiling and make you forget rock and roll –except for the Beatles.  But enough of cultural notes — today the market displayed what technicians call a key reversal day.  As shown it is a day where there is a lower low and a higher close than the previous day.  This reinforces our analysis yesterday that the downwave had largely exhausted itself.  (No guarantees.)

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Gold, silver, bonds…

Posted on Jun 16, 2013 by .

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0615slvpnf(no link possible go to stockcharts.com to see larger chart.)

Well thius should be discomfiting to silver buffs.  The PnF chart looks for a target of 8 in silver.  There is a clear downtrend in SLV.  Whether it reaches 8 is another question, but the chart is clear.  Good traders should be short silver.  We are short with the reverse ETF,ZSL.

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Fear and uncertainty… markets for traders and squirrels

Posted on Jun 12, 2013 by .

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0612spxhttp://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=9&dy=0&id=p88150915824&a=214966864

Squirrels (and traders) are running about frantically trying to figure out when the next Fed boot will drop.  Cassandras and the guy with the end of the world as we know it sign are advertising a bear market to rival the 07-08-09 bear.  But, as Rudyard Kipling said, if you keep your head when all about you are losing theirs…  The way to keep your head is to analyze the chart.  Above, the big picture — so messy that only a mother could love it, but it shows where prices would have to penetrate to change the trend — a long way.

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