A note for technocrat neos
Posted on Dec 15, 2009 by WHC Bassetti.
(Include us in that category.) Recently a reader remarked that he forgot to check this site for updates. Readers (like ourselves) who don’t know all the ins and outs of web technology may be unaware of the ability of the site to let them know when a new post is made.
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Consequences of breaking of long term trendlines
Posted on Dec 13, 2009 by WHC Bassetti.
The Consequences of Broken Long Term Trendlines
As if investors didn’t have enough to worry about for the holidays here is one more concern.
In general it is our practice to respond to events in the market, rather than trying to anticipate them. This may be looked at as letting the market dictate what should be done, rather than dictating to the market (a notoriously stubborn and unreliable conversationalist).
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Putnam’s stocks for a New Year’s bounce: BSX, BCO C, LLY, IDTI, KBH, LVLT, MOH, NYT, WEN
Posted on Dec 11, 2009 by WHC Bassetti.
The legendary George Putnam publishes a Christmas list of stocks he expects to bounce around the New Year as tax selling lets up and allows the stocks to seek their normal level. Mark Hulbert talks about this list at:
http://www.marketwatch.com/story/ten-stocks-that-can-bounce-in-2010-2009-12-08
Just to keep ourselves from doing something destructive like ill-considered hedges or anticipating the market (an idle mind is the devil’s workshop — didn’t your mother ever tell you that?) we looked at their charts. Here they are with some comments.
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Gold. Juggling hot potatoes…
Posted on Dec 08, 2009 by WHC Bassetti.
We closed our gold and silver longs put on yesterday, meaning we presently expect more down or bottom formation here and in the metals. As we said it was aggressive — too aggressive, but that is what happens when trying to catch bottoms. Don’t do it.
In fact there is no tradeable daily pattern in these markets as yet.
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The wave analysis table, forgotten in the last post
Posted on Dec 08, 2009 by WHC Bassetti.
| Start Date | End Date | Start | End | Points | % | Up | Down | Drift | % up | % down | High |
| Days | Days | flush | to high | ||||||||
| 3/6/09 | 5/8/09 | 6469.95 | 8587.54 | 2117.59 | 32.73% | 45 | 32.73% | ||||
| 5/8/09 | 5/21/09 | 8587.54 | 8221 | -366.54 | -4.27% | 9 | 13 | -4.27% | |||
| 5/21/09 | 6/11/09 | 8221 | 8877.92 | 656.92 | 7.99% | 15 | 7.99% | 3.38% |
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Noted technical analyst WHC Bassetti has over 40 years' experience in the financial markets and is Malcom S.M. Watts III Adjunct Professor of Finance and Economics at Golden Gate University. He is editor of the Ninth Edition of Technical Analysis of Stock Trends, widely considered to be one of the true classics of market analysis.
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