Technical Analysis of Stock Trends

Disregard this letter.

Posted on Jan 16, 2012 by WHC Bassetti.

Occasionally there are times when we are required to –like it or not — act like a technical analyst.  This is one of those times, so we warn our readers so they can be prepared to take the letter with a large grain of salt.

Continue Reading

Psst. Hey Meester want to see some dirty stocks?

Posted on Jan 07, 2012 by WHC Bassetti.

Is there something shameful about talking about bank stocks?  Or do you just get enraged when contemplating the obscenities of sub-prime loans, manipulation of minorities into unfavorable loan conditions, or robo signers?  Or do you just get high blood pressure contemplating what they did to the country and the economy?  Besides that we’re still personally mad at the sharpsters in Charlotte who outsmarted Bank of America executives and moved our bank to Hicksville.  (No offense meant to Charlotte.) (We moved our important accounts to Wells-Fargo the next day.)  Then they compounded the offense by buying Countrywide and then Merrill Lynch and who knows what else in an orgy of hubris and narcissism.  Excuse us while we take our high blood pressure pill –as we were saying, feelthy stocks?

Continue Reading

Mind your Es and Qs….

Posted on Jan 05, 2012 by WHC Bassetti.

Impossible to ignore the Qs. Burst out of a big triangle.  Big sideways base. We are buying some.

Also impossible to ignore the downtrend in the euro, which we have remarked on numerous times.  Now another downgap. We are shorting some, using the EUO ETF.  Stops shortly.  Have to rush down to the pit.

Continue Reading

Wake up! Wake up! Santa Claus is finally here.

Posted on Jan 03, 2012 by WHC Bassetti.

Talk about a roman candle for new year’s. Not that we believe it.  We keep telling you that we don’t believe anything except the sports scores.  They wouldn’t dare lie about those. But after months of lying signals and head fakes this looks like a real signal.  So we bought the S&P the gold and the silver. As always we are ready to jump off the train if it doesn’t go on down the road to the super bowl.  But it would be foolish to sleep through this wake up call without placing a bet.

Continue Reading

Good riddance to the old year. Happy (and prosperous) New Year.

Posted on Dec 28, 2011 by WHC Bassetti.

Since this moment is the product of the past, here is the past.  The bear market of 08-09.  The dominant fact here is the trendline from March 09.  Not to mention over 700 days of bull market.  But after that, in June prices broke the trendline and then all hell broke loose.  There were several trendline breaks before the June break, which we noted at the time.

Continue Reading