I feel news shifting to fever pitch…that makes me leery of the bearish stance mid-long term.
Posted by MC on Feb 27, 2009
In October we were at nearly a bottom (relatively speaking) IMO. It takes the market time to settle etc… You can’t expect a cruise ship at full speed to turn on a dime. Those moves were over reactions and were absorbed. Notice anything different on the more recent candles? CONTRACTION. Lower, yes…as fearful, NO!
Big wicks on big volume at long term support levels. That’s called market excess and shows strong buying pressure. Who would buy in there? Long term investors and big institutions that flushed at the top and are buying the base all over again. In no way does it guarantee a to the dot bottom but it warns that big boys are leaving their footprint in the sand IMO. Also there’s no way other than looking for a buying climax to tell when they have unloaded these shares.
I Trade Penny Stocks Blog is up…Go visit Simon!
Posted by MC on Feb 23, 2009
A good friend of TradersBASE is now running a blog related to OTCBB/Pink stock breakouts. Simon has an excellent track record and provides clear entry criteria. Pay him a visit and sign up for his blog. 
http://itradepennystocks.com
Gold update…inflation is seeming to become feared again thus propelling Gold higher.
Posted by MC on Feb 14, 2009
The daily chart keeps bringing out big volume on breakouts so till that stops continuation should be most likely. Gold pushed past MAJOR supply which should be read as bullish. The said supply did take some steam out of the rally but the charts still look bullish to me. I would like a 2nd weekly close above that resistance to feel better for the longer term bulls though.
Lifetime indices trendline and fib analysis.
Posted by MC on Feb 14, 2009
One of these things is not like the other. Thoughts? Join in the discussion on the forum.
http://www.tradersbase.com/forum/market-index-chatterbox/371-index-chatter.html#post5748
