Hot stocks, get ‘em here…
Posted on Aug 24, 2009 by WHC Bassetti.
It must be August and it must be the dog days of when we are bored enough to look at the hot stocks, but, sigh, we did and we mention them here because undoubtedly our readers are hearing about them too and kicking their dogs awake and looking for something to chase away the boredom so here is what we saw in the hot stocks.
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The better part of valor…
Posted on Aug 23, 2009 by WHC Bassetti.
Or — he who runs away lives to short another day. We have often talked of stops and honoring them and of standing firm and steadfast and — oh, all that stuff. We have also preached on the hairtrigger signal — the price action which is so clear that it causes you to abandon the position immediately. We had a stop 2% over the high of the little rectangle which has not been reached. But Friday’s action is sufficiently clear to cause the abandonment of shorts, at least in these index issues. We call these “power bars”, and when power bars blast across a signal line (the horizontal line on the rectangle) it merits some scurrying about.
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uup and down and round and round…
Posted on Aug 20, 2009 by WHC Bassetti.
Right now it’s time to start watching for a reversal in the dollar. If you were going to put on a trade right now it would have to be short, but significant support is a centime away. As can be seen from the chart we have had some luck with UUP in the past and we will be wathing for the turn.
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Each day is a new day…
Posted on Aug 20, 2009 by WHC Bassetti.
Back in the ’70s we used to frequent Tasajara Zen Center. One day there trying to talk the gate guard into something he countered our arguments by mouthing the very true and very easily mouthed zen saying, Each day is a new day. We wanted to kill him at the time, but when you think about it, it’s true.
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Ahmed’s dilemma, and the anlyst’s conundrum…
Posted on Aug 15, 2009 by WHC Bassetti.
In our graduate seminar at Golden Gate University in San Francisco we habitually entertain bright capable students who take our course looking to put it all together — and they frequently do. In the just completed seminar one charming student named Ahmed gave his name to the trader’s dilemma — that is, is one going to take the equity fluctuations necessary to ride a long term trend (often painful) or is one going to attempt to avoid the equity fluctuations buying and selling more frequently to catch wave lows and highs. Chinese proverb: Man who chase two rabbits lose both rabbits.
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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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