Tag Archives: aug09
Is the bear market dead? Or how to tell if a bear is dead…(don’t kick it)
Posted on Aug 29, 2009 by WHC Bassetti.
ART AND SCIENCE OF TECHNICAL ANALYSIS:
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Buying Citibank, also weird spec stock
Posted on Aug 28, 2009 by WHC Bassetti.
As we threatened we bought some C, especially after reviewing the August volume. This is power buying. As we’ve said before we actually don’t like any of the banks, but what are you gonna do? It’s like the only game in town.
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Buying bank stocks…while holding nose….
Posted on Aug 27, 2009 by WHC Bassetti.
We are afflicted if not assaulted by a sense of unreality. The banking system is a cancer on the economy. Buy Banks! Buy Banks! Paulson is doing it and he’s got enough money to defy reality. (According to reports buying BAC and C.) Well, who are we to say no. Someone described the banks’ present strategy as “deny and delay”. That is deny the rot on their balance sheets and delay hoping that they’ll make enough profits to cure their problems, and that real estate prices will also improve.
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Citibank, buy, sell, hold, juggle with chainsaws?
Posted on Aug 26, 2009 by WHC Bassetti.
Here is an example of mismanagement of a position because of failure to follow Basing Point procedures. Also a little of Ahmed’s Dilemma was involved (i.e., whether to trade or ride the trend). We bought C close to the bottom in March and sold it in late June for a decent profit. That was not smart.
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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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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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