Technical Analysis of Stock Trends

GLD, SLV — The long view

Posted on Apr 10, 2010 by WHC Bassetti.

SLV.  Notice anything different?

Of course not.

GLD.

What you are not noticing is that these are weekly charts.  The reason you don’t notice anything different is because price behavior is fractal.  Fractal means it is self similar at all scales.

Magee never heard of fractal.  It hadn’t been invented in his time.

Continue Reading

At it, hammers and tongs…GLD, SLV

Posted on Feb 06, 2010 by WHC Bassetti.

As you will see from our discussion yesterday there was in addition to the hammers in the indices a hammer in the metals.  At this point the SLV and the GLD are one day away from confirming a valid downtrend in the metals.  In fact, for the aggressive trader there is already a downtrend.  You will remember that we hedged our metals positions a few letters back.  We had a few trades so small we just left them alone in family accounts.  Indicative of our belief that after this market has cleaned out all the believers it will soar again.  Naturally we will be trying to catch it on lift off, but right now we’re happy to be hedged.  Of course if we don’t make any money on our hedge we’ll be less happy, but that’s life in the fast lane.  Friday could be the day we should have cashed them in.

Continue Reading

Busy, busy, busy…bought Platinum, lifted gold, silver hedges for personal accounts

Posted on Dec 16, 2009 by WHC Bassetti.

There is every possibility that this could be a flag in PGM which could augur another leg down in platinum and the metals.  But, ever adventurous we lifted our gold and silver hedges and bought platinum.

Busy, busy, busy, as Kurt Vonnegut’s bokononists would say.

Continue Reading

Gold. Juggling hot potatoes…

Posted on Dec 08, 2009 by WHC Bassetti.

We closed our gold and silver longs put on yesterday, meaning we presently expect more down or bottom formation here and in the metals.  As we said it was aggressive — too aggressive, but that is what happens when trying to catch bottoms.  Don’t do it.

In fact there is no tradeable daily pattern in these markets as yet.

Continue Reading

Fun stuff. Gold, silver, platinum

Posted on Nov 30, 2009 by WHC Bassetti.

Tis the season to begin thinking about wearing this stuff instead of  trading it.  But first we have to manage our trades before we hop off to breakfast at Tiffany’s.

Continue Reading