Jump to content

Monthly Digger - September 2009


Recommended Posts

  • Replies 354
  • Created
  • Last Reply

Thanks Gold Majestic for the stock suggestions and encouragment. I'm loving it! Dont worry I researched well. Yesterday was really so worried thinking the bears were right now! They must be hurting today and there shorts. Does today mean we broke out of the triangle you been predicting. Can you give your suggestion on what this means. thanks!!!

Link to comment
Share on other sites

GDX:

Candlestick analysis. You can't do it with HUI as you don't get a wick or a tail as the market is deemed to open at the prior day's close. GDX, so I'm told, co-relates very closely to HUI.

 

No surprise about the failed triangle breakout on Friday. The candle was a doji and a black one at that. No body and a relatively equal wick and tail showing neither the bulls or the bears really gained ascendency----a spinning top type of pattern---although the absence of a body classifies it as a doji.

 

It was evidence of a short squeeze. The triangle breakout aborted Tuesday.

The cloud represents a moving support/resistance area. It has a flat top, so it will attract price but offer formidable resistance.

 

Tuesday's candle is another indecisive spinning top---not quite a doji as it has a body. In this case it's red, so score a little bit for the bears. . . .

 

Upon being presented with an ONE HUNDRED YEAR OLD CHART showing the extremely high correlation of money supply (dictated by monetary policy) to price inflation over that entire period (that affects Gold/Commodities/Stock Markets/Bond Markets, etc.)

 

"Charts Tell All" Bearvest replied "I'll simply withold judgement." "I'm inclined to agree that the Americans will embark on a "screw thy neighbour policy" by deflating the dollar. But whether this will create "value added" to other world economies is in dispute. So , I don't care about those charts."

 

Never mind that the chart has been valid a hundred years, for Bearvest, it's apparent "Charts Tell All" only if it suites his needs. And being proven wrong doesn't . . . hypocrisy at is worst.

 

Bearvest stated "All I care about is making money---and I'll remind you that I never saw a bearish post from you while GOLD plummeted from 1000 to 770 while I was busy selling call options against by long position in Goldcorp. If I recall correctly, you were trekking somewhere in South America without an internet connection."

 

I reminded Bearvest that buying at significant bottoms and taking profits on the way up acquiring free shares, one has already recovered initial seed money long before tops arrive and is looking for the next significant bottom to develop. I've explained this investment style many times here, but Bearvest still hasn't figured that out. And my reply to him questioned how much he lost selling calls on GG since the EXPLOSIVE run-up from the late October '08 bottom. He was bearish several months after that! And true to form, "conveniently" NO RESPONSE.

 

So I'll ask another question to "HUI RECIPE FOR DISASTER" Bearvest who has been so bearish lately, how much did you lose today on the selling of those GG calls? GG is up a whopping 19% over the past 2 weeks since August 17th and a HUGE 300% since the Friday Oct 24th bottom on the exact day I called it.

 

PS. Panama Canal was built through the very narrow isthmus in Central America at enormous cost and loss of life for the very reason of saving huge additional costs and time of having to sail around the huge continent of South America where no such "very narrow" isthmuses exist. I.e., Panama with its cosmopolitan cities is located in Central America. You're welcome for the Geography lesson by the way.

 

But since Bear "All I care about is making money" vest seems to accomplish anything but, I thought it important to reply to his post regarding candlesticks and the HUI above.

 

Bearvest, for your benefit I'll include a weekly HUI candlestick "Charts Tell All" that may help you to step back to see the big picture forest as it's a waste of time dissecting minutiae.

 

You may have noticed the outcome today of the bullish wedge formation and what the HUI WEEKLY BULLISH BOTTOM CANDLE FORMATIONS had been clangling, "DING DONG . . . DINGALING . . . DONG!!!

 

Who says they don't ring a bell at the tops and bottoms?

post-2021-1251932929_thumb.png

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

  • Tell a friend

    Love Stool Pigeons Wire Message Board? Tell a friend!
  • Recently Browsing   0 members

    • No registered users viewing this page.
  • ×
    • Create New...