ThorAss Posted May 14, 2003 Report Share Posted May 14, 2003 All I can say is professionals all the way on Tuesday. The action was complete with the early worning spike and sell-off. All rallies were sold immediately. We meandered for a couple of hours as the boys left their desks for lunch. At 3 the robots took over and it was straight down into the close. Whether this will continue or not I don't know. Seems that there's a good chance for a scam week v bottom in the POG around $342 a la mid December last. I believe I will force myself to do a little selling. But I'm not happy about it. The problem is the neckline is at 130.7 and is about halfway to the goal-line from the 137 top. Target on a neckline failure minimum 124. Still we put in a pretty bearish candle Tuesday. Scam week shenanigans. Watch for opportunities and watch your pocketbook. Sade trafe. Well we don't have to worry about the gap on the Zow any more. Link to comment Share on other sites More sharing options...
Guest AssMaster Posted May 14, 2003 Report Share Posted May 14, 2003 I looked at barcharts performance section on the XAU or NEM where trades using various technical indicators were monitored for performance. About all of them lost money. So it's pretty easy to lose money in this market using technical indicators alone. Link to comment Share on other sites More sharing options...
SevenOfEleven Posted May 14, 2003 Report Share Posted May 14, 2003 Just a zoom-in of the daily chart I had up today. I parred it down a bit to be easier on the eyes and updated the northward looking channel. If ya missed Buffy tonight - next week is the finale of the seven year series. Link to comment Share on other sites More sharing options...
SevenOfEleven Posted May 14, 2003 Report Share Posted May 14, 2003 Weekly... Link to comment Share on other sites More sharing options...
speculator Posted May 14, 2003 Report Share Posted May 14, 2003 I looked at barcharts performance section on the XAU or NEM where trades using various technical indicators were monitored for performance. About all of them lost money. So it's pretty easy to lose money in this market using technical indicators alone. Check out the #1 "trader" at weath-labs. A single buy and hold of 50k shares of a $1 stock that is now $14 in just a couple of years. I owed a truck-load of GLG for just under $2 a couple of years ago. Sold for $3 after holding few months. Thought it was a great trade. Link to comment Share on other sites More sharing options...
Guest AssMaster Posted May 14, 2003 Report Share Posted May 14, 2003 Well...you think that's bad. Today, I saw the russian exotica in my avatar pic at Starbucks...and she didn't even notice me. Oh well, I will have my revenge...by making tons of money and retiring to Hawaii. Asian exotica, beware! :grin: Link to comment Share on other sites More sharing options...
richmtn Posted May 14, 2003 Report Share Posted May 14, 2003 I'm still looking for a top 1-3 weeks out with the 82 day cycle sched to peak about 5/22 and highs in early June the last 2 years. I'm favoring scaling out during the time period. Hui 145 still looks very reasonable. Any of you guys have any suggestions as to how the 82 plays out? Are you keeping core positions? Thor why wait for the failure? Besides I don't think we see that level over the next couple. These guys do play hardball though. Rough crowd. They seem to be trying to shake off all the weak hands. Makes me want to hang on a while when I sense they want to shake me. NEM Today the 82 clicked down on my chart. A 42 day cycle is still in a down phase and is clicking lower. Next longer cycle (not shown) I have in down phase but has stopped moving lower temporarily. Link to comment Share on other sites More sharing options...
Guest AssMaster Posted May 14, 2003 Report Share Posted May 14, 2003 Here comes the gold/miner smackdown with a futures jam exhaustion gap up on the side. Link to comment Share on other sites More sharing options...
Charmin Posted May 14, 2003 Report Share Posted May 14, 2003 John123 http://trending123.com/_hui.htm http://trending123.com/stocks/chart_of_gold.htm http://trending123.com/annotated/chart_of_nasdaq.htm It appears FCX got a borker reco from Morgan Stanley yesterday - copper must on the move - but, that candle looks nasty Link to comment Share on other sites More sharing options...
Charmin Posted May 14, 2003 Report Share Posted May 14, 2003 Wealthy-lab for steamy couchpotatoes - don't dis the Doc http://www.wealth-lab.com/cgi-bin/WealthLa...system?id=18477 http://www.wealth-lab.com/cgi-bin/WealthLa...lchart?id=14525 Link to comment Share on other sites More sharing options...
speculator Posted May 14, 2003 Report Share Posted May 14, 2003 Wealthy-lab for steamy couchpotatoes - don't dis the Doc http://www.wealth-lab.com/cgi-bin/WealthLa...system?id=18477 http://www.wealth-lab.com/cgi-bin/WealthLa...lchart?id=14525 Charmin, That wealth lab chart is not the same as Docs HUI channels in the Anals. If you use the 2xMA script at weathlabs its closer to Docs which shows the longer cycle pointing down and is bearish. I believe Doc is warning of a pretty steep correction on the way and that the 4 month has topped at 137. Link to comment Share on other sites More sharing options...
speculator Posted May 14, 2003 Report Share Posted May 14, 2003 I'm still looking for a top 1-3 weeks out with the 82 day cycle sched to peak about 5/22 and highs in early June the last 2 years. I'm favoring scaling out during the time period. Hui 145 still looks very reasonable.Any of you guys have any suggestions as to how the 82 plays out? Are you keeping core positions? Thor why wait for the failure? Besides I don't think we see that level over the next couple. These guys do play hardball though. Rough crowd. They seem to be trying to shake off all the weak hands. Makes me want to hang on a while when I sense they want to shake me. NEM Today the 82 clicked down on my chart. A 42 day cycle is still in a down phase and is clicking lower. Next longer cycle (not shown) I have in down phase but has stopped moving lower temporarily. richmtn, I never hold core positions in stocks. I consider them worthless bits of paper useful for speculation only. I have held bond funds for fairly long periods at times for the yield. But if you read my previous post re GLG then in that case it was a mistake not to hold a core postionthe past couple of years but my problem is the stop and you can bet GLG will give back much of its gains when the 8 year gold cycle starts moving down (next year?). I may try some long cycle based "trades" where I hold for a couple of years if I can catch the bottom of the 8 year (2005/6?). Link to comment Share on other sites More sharing options...
Guest Posted May 14, 2003 Report Share Posted May 14, 2003 I looked at barcharts performance section on the XAU or NEM where trades using various technical indicators were monitored for performance. About all of them lost money. Except the one using the 50-dma for NEM - which, incidentally, is what I use a lot, too, when deciding to get in and out of gold stocks. :wink2: Of course, you must keep in mind that the trading systems there are very primitive. BTW, how did you use XAU there? I tried XAU, $XAU, ^XAU, XAU.X - but they were not accepted. Regards, Vesselin Link to comment Share on other sites More sharing options...
Charmin Posted May 14, 2003 Report Share Posted May 14, 2003 Well, if your looking for long plays just stretch the chart out for two years and see where the most recent trading range bottom is like last night in my sleepy head and bunny slippers I noticed GFI at $10 and VGZ $3 and HL at $3, GLG looks like its testing the previous highs on lighter volume - what looks like the developments of a massive ABC setup for RGLD going back to 2001 and we're at point C and rising (once beyond that nasty gap). I guess I could ramble on, but short-term is more important. Link to comment Share on other sites More sharing options...
Charmin Posted May 14, 2003 Report Share Posted May 14, 2003 Spec, that's why I say don't dis the Doc and yes, I would only observe those charts for now. Glad you pointed it out. John123 latest rant: http://groups.yahoo.com/group/trending123/ Link to comment Share on other sites More sharing options...
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