Stranger and stranger said the Red Queen…
Posted on Jul 24, 2009 by WHC Bassetti.
With the major indices taking off like the space shuttle it is strange that the basic group of ETFs is so recumbent. We looked at the basic list and found a mess of them with uninspiring charts. The indices are making new highs and these ETFs are basically listless: IAI (brokers), MOO (cows) RTH (retail), XHB… The IWM (Russell) is in this class, and even the oil, USO is mostly sideways.
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Believe it or not…
Posted on Jul 22, 2009 by WHC Bassetti.
As Ripley used to say –believe it or not, and it is difficult to believe, but the March rally is intact, and so is the wave pattern.
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Fool’s gold?
Posted on Jul 20, 2009 by WHC Bassetti.
These are signals in gold. The fearless speculator has to take them. Maybe the fearless but wary speculator doesn’t. Our take is that the nearby tops are of such strong resistance that nothing will happen here. In other words we wouldn’t make a trend trade till the highs were cleared. But if you are agile and willing to jump in and out there may be a trade here. (And one of these days…) In this case we tend to think that this is more dollar weakness than gold strength.
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Cabbages and kings…
Posted on Jul 19, 2009 by WHC Bassetti.
The time has come the cabbage said to speak of many things, of jabberwocks and cribbage, of bings and kings and ringa ding ding…
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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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