Technical Analysis of Stock Trends

Buy signal in gold.

Posted on Nov 16, 2009 by WHC Bassetti.

This is a buy signal for aggressive traders in gold.

A little unsettling to think that we might be in a blow off  already, but gold is running and he who rides the tiger can’t get off for lunch.

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Buy Gold. Buy Silver. Gaps. Power bars.

Posted on Nov 03, 2009 by WHC Bassetti.

A gap and a power bar.  About as good a buy signal as you get.  While the pattern is different in silver we think silver has a buy signal also.

As always these signals are not 100% perfect, and given the animus of the Treasury and the Fed for gold we can depend on their efforts to control the market.

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The Gold stop.

Posted on Sep 10, 2009 by WHC Bassetti.

Looking at today’s action so far in gold we set the trading stop at 95.85.  Tight, but we don’t trust this market.  As we said previously the best way to trade this is not to trade, but to invest.

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Sell gold. Get whiplash.

Posted on Sep 09, 2009 by WHC Bassetti.

From positive to negative in one day.  The last two days went from bullish to bearish in a trice.  The formation now looks like an exhaustion gap which has been closed.  Tomorrow (Thursday) we will look at the market and probably close all but our core position in gold depending on price action then.  We’re leaving the silver position on, but and argument could be made for closing it too.

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Buy gold. Sell dollar. Carefully.

Posted on Sep 08, 2009 by WHC Bassetti.

While gold broke to new highs today (not well shown on this chart, but still happened) the dollar broke to new lows.  Our considered opinion and analysis is that this is just a leg up, and not the beginning of the end.

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