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PMS Daily Digest for Thorsday April 10th


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One potential scenario now might be a fake-O-breakout? that gets bitch slapped at the 200 or 50 day MA areas, which coincide with resistance areas, and ultimately breaks down. Bearish.

 

Another scenario would be a push above the upper tline of the bearish flag pattern we're in. Bullish.

I favor the first part of the bearish scenario - except that I don't consider it bearish. :wink2: I expect the index to fail to break the red resistance lines at first and pull back and consolidate - perhaps even as low as 120. But that should be part of the bottoming process and I don't expect the bear flag to break to the downside.

 

Regards,

Vesselin

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Looters in Basra used rocket-propelled grenades (RPGs) to break into a bank vault today. They succeeded ? once they broke into the vault, they found they had incinerated all the paper money.

I don't think that they've lost anything valuable... B) Except maybe the wasted RPG round. :lol:

 

Regards,

Vesselin

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One potential scenario now might be a fake-O-breakout? that gets bitch slapped at the 200 or 50 day MA areas, which coincide with resistance areas, and ultimately breaks down. Bearish.

 

Another scenario would be a push above the upper tline of the bearish flag pattern we're in. Bullish.

I favor the first part of the bearish scenario - except that I don't consider it bearish. :wink2: I expect the index to fail to break the red resistance lines at first and pull back and consolidate - perhaps even as low as 120. But that should be part of the bottoming process and I don't expect the bear flag to break to the downside.

 

Regards,

Vesselin

I've been tossing the notion of a rounding bottom scenario through my head as well. Same for the POG, maybe. Sounds like that's what you're saying. If so, agreed - possible and bullish.

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Then your dog would become part of the Crystal Ball Consensus

 

ruff ruff!

 

if that is so then I think he'd agree with bullish "scentiment"

My dog* claims to have crystal balls so that works out fine :lol:

 

Woof!

 

*Disclaimer: Borg dogs may contain more than the FDA daily recommended allowance of prosthetics, implants, and, of course - stool.

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Guess who

 

We had action to the upside in the June Gold contract as well as the equities. A few of the equities have lighter volume as they approach their last highs. It?s no big deal. They will pull back a bit then proceed higher. The BIG Deal in the market is that the war is just about done and GOLD goes up. If you listened to the NEWS, you would have been under the impression that GOLD would go down. Bottom line is that we have INFLATION in a big way. We spent now we have to pay.

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Wish I knew more about Palladium trading.

 

I know it skyrocketed in '99 after the tariff and quota that was placed on it. I knew at that it was going to pop but was 100% vested elsewhere (isn't that always the way? something to be said for always keeping at least a bit of powder dry).

 

I knew the top was in when wholesalers were actually sending me (I was a purchaser for a bullion & coin company at the time) very verbose and chock-full-O-charts PDF files on the amazing future of the metal that was a steal at $700/oz. Hah! I pity all those who bought those fundamentals. They're over $500/oz in the hole right now.

 

Anyway, it "looks" cheap right now, but as any idiot knows - cheap is relative. If it drops to .10/oz and doesn't go any higher in one's lifetime then "cheap" was NOT.

 

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As forecast between sessions a move up initially would portend an immediate extended move to 140ish without much of a pullback. However, since we actually closed at 125.36 at 4:03 the initial move up this morning was tiny. Let's go for a move over 126 now as confirmation of this.

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DAu greyhounds outpacing Hooey (again) by 1% today.

 

Here's a debatabull question for you. Would you describe the work that I did developing the REC list for the DAu as fundamental research, TA, or would you use another term all together like price-based analysis? Here's another question. Does anyone have any kind of write-up or treatment which could help me to better quantify the analysis like I was trying to do? Or was I just wasting my time and I would have been better served by just doing chart projections on all the stocks? Mind you that would be time-consuming. Anyone with ideas?

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