Trader Joe Posted August 8, 2011 Report Share Posted August 8, 2011 Dear Mr. Market: You have a buyer right here. Just not yet. Signed, Sitting On Hands Link to comment Share on other sites More sharing options...
dogsie Posted August 8, 2011 Report Share Posted August 8, 2011 Fed words tomorrow. Link to comment Share on other sites More sharing options...
DrStool Posted August 8, 2011 Report Share Posted August 8, 2011 careful with those headlines..... when ES stops falling here, Gold likely to pull a swift reversal... 1640ish looks key now... Well, hopefully most of our readers understand that the headlines are just teasers. They don't reveal the entire content of the report. So just in case they don't, here it is in black and white. I've done a very good job of staying with the trend in gold. The PM stocks have been a bit more challenging, since they have traded like stocks and not like gold. Link to comment Share on other sites More sharing options...
DrStool Posted August 8, 2011 Report Share Posted August 8, 2011 spx 2 day cycle projection 1152. Link to comment Share on other sites More sharing options...
K Wave Rider Posted August 8, 2011 Report Share Posted August 8, 2011 I've done a very good job of staying with the trend in gold. The PM stocks have been a bit more challenging, since they have traded like stocks and not like gold. Yes you have. But with the PM stocks breaking so hard, caution is warranted, IF the past provides any clues.... Link to comment Share on other sites More sharing options...
DrStool Posted August 8, 2011 Report Share Posted August 8, 2011 There's no reason to stand in front of a secular bull market that's apparently entering a mania. It's not a mania in the classic sense. The past few weeks have been a short covering panic, particularly among the primary dealers. That has now ended. I'll have details in the Wall Street Examiner Professional Edition Fed Report to be posted later today. Link to comment Share on other sites More sharing options...
K Wave Rider Posted August 8, 2011 Report Share Posted August 8, 2011 IF bears keep it down today, NYA will be the first close back below the 900 day... Crash widow already complete, but if it starts to pull away from here, could develop into one of those relentless selling situations... Link to comment Share on other sites More sharing options...
DrStool Posted August 8, 2011 Report Share Posted August 8, 2011 Yes you have. But with the PM stocks breaking so hard, caution is warranted, IF the past provides any clues.... I keep waiting for the PM stocks to act like the metal, but the charts just show no promise of that whatsoever. Gonna take a miracle. Likewise, gold may correct, but there's no sign in my work of a major decline ahead. How long can the metal and the stocks diverge like this. If the metal holds up, at some point don't the stocks become screaming bargains. It's a fascinating dichotomy. Hope some of you gold bugs might be interested in following my technical take on it with a 30 day risk free trial to the daily Precious Metals updates. Link to comment Share on other sites More sharing options...
DrStool Posted August 8, 2011 Report Share Posted August 8, 2011 Somehow I don't think that announcer could have imagined his words becoming the center of a long running stock market joke 70 years later. Link to comment Share on other sites More sharing options...
DrStool Posted August 8, 2011 Report Share Posted August 8, 2011 Oh oh ho ho ho oh Link to comment Share on other sites More sharing options...
K Wave Rider Posted August 8, 2011 Report Share Posted August 8, 2011 Since the Trannies are crashing off the all time high after the "tire gnawing bearish" evening star at said ATH, there is a very good chance that the 900 day will hold as the floor on this move, as price will have traveled quite a distance, and it is rare to plow thru the 900 on the first big move to the 900 from an extreme low or high... Link to comment Share on other sites More sharing options...
DrStool Posted August 8, 2011 Report Share Posted August 8, 2011 Houston, obviously we have a malfunction here. Link to comment Share on other sites More sharing options...
Trader Joe Posted August 8, 2011 Report Share Posted August 8, 2011 Scanning for screaming deals So far Result=N.G. Link to comment Share on other sites More sharing options...
DrStool Posted August 8, 2011 Report Share Posted August 8, 2011 $spx 2 day cycle projection drops to 1140. Link to comment Share on other sites More sharing options...
DrStool Posted August 8, 2011 Report Share Posted August 8, 2011 $spx 5 day cycle projection 1114. Link to comment Share on other sites More sharing options...
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