Technical Analysis of Stock Trends

Busy, busy, busy…DJP, GLD, FAS, ETCETC

Posted on Jan 21, 2010 by WHC Bassetti.

Busy… (cf.  Vonnegut and Bokononists).  The brokers were glad to see us coming.  We took profits on a bunch of stuff, ranging from 10 to 20% in DJP, SSO, GLD, DIA, QQQQ.

We hedged part of our gold positions with GLL (short gold) and our index positions with SPXU.

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New downwave in the indices. (?)

Posted on Jan 21, 2010 by WHC Bassetti.

As may be seen here in the second chart a trend break is occurring in a 28 day uptrend.  In the first chart we can see that the trendline from March 6 is definitively breached.

There is a trendline from August which might offer some support:

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Important stuff in the pipeline. Pay attention. Tide rising (falling?)

Posted on Jan 20, 2010 by WHC Bassetti.

We don’t have it all analyzed yet, but it looks like to us that some fairly important stuff is in process.  This is UUP, th dollar index which we will be buying again.  This is of course the other side of the coin to the FXE (euro).

The FXE is in freefall. An easy short.

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FXE. Double pump headfake.

Posted on Jan 19, 2010 by WHC Bassetti.

The euro gave a head fake causing us to think the downtrend was over and close our short.  Wrong.  the down trend is intact and short the euro is still the way to be.

The head fake was the gap up out of  what proved to be a consolidation pattern.  The subsequent gaps down reassert the down trend.

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JNJ, T, ABT, UTX, FAST, MSFT, IBM, ORCL, CVX, XOM, SPN, CHRW, ETC ETC

Posted on Jan 15, 2010 by WHC Bassetti.

Of late in the “media” talking heads and pundits have been touting stocks and so we thought we’d take a look at the stocks to see what the stock touts were sucking the unwary into.  As our readers know we are always chary of handicapping stocks.  If we’re going to handicap them we want to see evidence of the possibility of undeserved and obscene returns.  This is in contradistinction to our philosophy and practice of investing in  the ETFs and indices and taking what they give us.

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