Technical Analysis of Stock Trends

Natural Gas. Taking gas. The next bubble?

Posted on Sep 15, 2009 by WHC Bassetti.

We’re forever blowing bubbles…pretty bubbles in the…

Many hearts have been broken as traders continue to demonstrate that man is directly descended from geese by trying to catch the bottom of this market.  We’ve actually honked once or twice ourselves.

So once more up to the breach good friends (as Henry V is reported to have said at Agincourt).

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Gold breakout and runaway? Or more heartbreak and psoriasis…?

Posted on Sep 13, 2009 by WHC Bassetti.

After being spooked by what looked at first glance like an exhaustion gap we followed good practice and set a stop instead of bailing on gold.  So far this is productive.  Now we have an up gap — a bullish signal, in fact you could, if aggressive, add to your position.  Note:  aggressive.  Of course the new high is bullish also.

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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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