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Technically Telling Thursday Aug 26


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NEM: In isolation today's action would be somewhat bearish but in conjunction with my take on the overall picture and my feelings towards the importance of today's action, well I'd be worried to be too long. On the other hand I bailed on my NEM shorts all the way down today at 44.16, 44.12, 43.98, 43.83, 43.80, 43.76, 43.61, 43.55. I held out rather than scamper on the open owing to the fairly obvious bear flag on today's POG tick chart and sure enough it fell back down to sub 406 as the flag predicted. Now to look for something else. I never browned my cords when I came in from walking The One (aka FlorAss) to see the POG at 409. I thought, oops Apocalypse but Oh Ye of little faith.

 

AGEKA: You try this? It's in Belgian. :lol:

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Thanks for your take AB. You're welcome Hadjin.

 

Golds stock turn lower after opening higher.

 

TCG, you're up early or late. Haven't seen any of your posts the last two days. Don't be shy, mate. We have no posting standards as you might have noticed. :lol:

 

Thor, read yesterdays thread back, and I wasn't very subtle yesterday. (but neither are you, all the time that is) Any chance on an update on NEM or Semi's? :unsure:

:lol: That's at least the 3rd time I've posted my NEM update only to return to the thread to read your request for it. Weird! :blink:

 

You can hardly expect subtlety from the guy who controls lightning. :rolleyes:

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Yes Coin Guy, good! I've covered this pattern repitition in some detail in an earlier post and the chart remains resident in DrAu's Pubic Fart Lisp if you'd like to check it. My worry is that when we continue along this pattern that the main second peak is lower than the first and that the eventual break is to the downside. But, certainly there are bullish inferences to be made from your amplification. Thanks for your charts.

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Yes Coin Guy, good! I've covered this pattern repitition in some detail in an earlier post and the chart remains resident in DrAu's Pubic Fart Lisp if you'd like to check it. My worry is that when we continue along this pattern that the main second peak is lower than the first and that the eventual break is to the downside. But, certainly there are bullish inferences to be made from your amplification. Thanks for your charts.

Thor,

 

Didn't see the earlier post? Also, want to point me in the direction of this list I keep seeing you mention...want to take a look at it.

 

The main second peak? Want to clarify this? Don't quite understand what your trying to say.

 

Best,

 

TCG

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I was trying to finish up a phone call when I posted the chart. I don't trade online, but use the phone...

 

I wanted to comment on the chart. What gives me some comfort here is the clean 5 wave patterns on the advances through the first and third waves, while the second and so far the 4th are corrective a-b-c's, and as of now are repetitive.

 

It is this chart(with support of the individual stock charts) that I was basing my call for 236, although I have revised my number to 239.5-243.5, and this is the # I'm basing my positions on. I sold my trading account into cash Friday at noon, and reinstituted partial positions Tuesday. I am adding on weakness.

 

This is the way I read the market, but I am using tight stops under the last swing lows, but only on positions I consider worthy of a babysitter.

 

I've made some serious Coin off the bottom, and I plan on keeping it.

 

Best,

 

TCG

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Nice trading TCG. I agree with your approach. (we discussed that before)

 

Trading is not about the most money, but about the easiest money. Taking profit (and perhaps losing out on some while doing so) is never a bad thing. When I just started trading, I was always afraid to miss out. These days, I know I'll always miss out on something.

 

See you in a bit goobers,

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