Technical Analysis of Stock Trends

Wake up! Wake up! Santa Claus is finally here.

Posted on Jan 03, 2012 by WHC Bassetti.

Talk about a roman candle for new year’s. Not that we believe it.  We keep telling you that we don’t believe anything except the sports scores.  They wouldn’t dare lie about those. But after months of lying signals and head fakes this looks like a real signal.  So we bought the S&P the gold and the silver. As always we are ready to jump off the train if it doesn’t go on down the road to the super bowl.  But it would be foolish to sleep through this wake up call without placing a bet.

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Fool’s gold. Fool’s euro.

Posted on Dec 12, 2011 by WHC Bassetti.

Today the gold market gave a trading short signal, as illustrated by the gap across the short term trendline.  It is always traumatic for those who have adopted (or married) the gold idea.  This is a trading signal.  We have marked long term stops for long term traders.  Remember.  It’s long term traders who win in the end.  Though sometimes the short term can be painful.  We have marked two stop points, one at 153.95 and a truly long term wave stop at 144.93.  If you contemplate the waves here you can see that the true long term stop is the lower one.  Then of course it is always possible to hedge or scale out of some of a position at the higher stop.  We will probably be shorting ourselves.  Has gold made a fool of us in the past?  Please don’t ask.

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More of the same…

Posted on Dec 03, 2011 by WHC Bassetti.

By all rights the explosion represented by the last 6 trading days (8.15%)  should be the kickoff for the upward trend — and it may be. But next week Geithner and the European pooh-bahs will be creating meaningless news in Europe, and that news could either blow the markets away on the upside or sink it to the bottom of the Aegean (a sea close to Greece) (too close).

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Haul down the flag…

Posted on Nov 01, 2011 by WHC Bassetti.

Our tattared flag just got canceled so we are hedging our longs with the negative ETF SPXU. Sold TBT, QQQ, GLD AND SLV.

We were obviously in the eye of the hurricane and it may have been a bull trap.  Never a dull moment. As we were saying, they were wrong and it didn’t take long to prove they were wrong.

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They were wrong. Tattered flag? Exiting from the maze…

Posted on Oct 29, 2011 by WHC Bassetti.

We habitually mock, satirize and excoriate the punditry, the financial press, politicians, the Texas Rangers, modernized productions of Shakespeare, supply side economists, Groupon, IPOs, Meg Whitman, banksters, psychopathic CEOs, faux Shakespeareans– but we digress and haven’t even half covered the list, so we will stick to the financial press and punditry over the past several months. SIX STOCKS TO BUY NOW! SEVEN STOCKS TO MAKE YOUR FORTUNE! BUY BUY BUY!

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