GDX & GDXJ
This content is for members only
Author Archive for: Alex - Chart Freak
Entries by Alex - Chart Freak
Dont You Just Hate Gaps?
October 17, 2014
I hate gaps, and the markets are set to break away with a pretty large GAP this morning. When markets GAP Higher at the open, they can do a number of things from there, and THATS why I hate gaps. I had a large number of buying opportunities in my sights for you. If you look at the "Comments" section from yesterdays report, BANIMAL asked me about what I was seeing, and I told him that I was seeing reversals across the board, and was planning on sharing my thoughts. GAPS tend to change that, so from here...Lets review some Charts
On OCT 15 - I thought we made capitulation Lows and TWEETED the following charts (Do you follow me on Twitter?)
Click here , then look for "Download & click it. Click "OPEN" and when you hear me...hit the back button (Get back to the this website & follow charts below)
SPX REVERSAL
Also notice the following 3 charts , adding weight to the idea that we were at capitulation lows...
ENERGY!
OCTOBER 16,2014 I saw so many reversals in the markets yesterday that I had to do a double take! I think the selling has exhausted and the moves upward from here can be an explosive mix of short covering and also buyers jumping back in to make some fast % gains. I want to focus mainly on ENERGY, since it was beaten down relentlessly, it may recover equally well. We all need ENERGY, right? It got ridiculously overdone... In PRE-MKT the markets are again down a lot. They are set for another GAP DOWN, but its worth watching intraday. Yesterday we gapped down and and reversed strongly, will we do that again? Is it a buying opportunity? To The Charts! (I apologize if you're short on time, This is a long report recording, you may just want to review the charts quickly on your own)
http://www.screencast.com/t/3xozpTzUwo - Right click link , then open in a new tab - look for 'download' and click it, then click "OPEN" and it should play automatically
XLE
That Extreme type of parabolic drop and sudden sharp reversal should be seen throughout the sector, lets examine several more charts ...
Quick Market Update
Oct 15, 2014 In the comments section of this mornings post , just asked me about the markets. His friend is invested heavily and has taken the recent ride down...what to do? I thought I'd try to post a quick comment or two.
Right Click here / click 'down load' and click 'OPEN' to play
SPX WKLY
We’ve Been ‘Conditioned’
OCT 15, 2014 I wanted to try something this morning , and that was to record the session and see if you could all follow along that way. I had my reservations, because I have a Boston accent, but hopefully you'll be able to understand me despite that. I have taken extra time to also write out the notes, for those unable to hear this recording. When I listened back to it, there was a bit of a click sound at times, I apologize, but for the sake of time, I cannot re-record it this morning. I DO NOT know what it was, I was sitting still, but it sounded like I was tappping or scratching at the microphone (I wasnt ) 
This morning when I started recording (7:30 A.M. Eastern) GOLD was down almost $10 and $Silver was down over 30 cents ...they have since recovered after 8:30. Whether that holds or maybe we sell off later, this report is likely still valid, so I am posting it even though they recovered. Below is the original report .
( For the recording link below ...It is best to
1. right click over the link and open in a new tab. 2. In that nw tab, you'll see "Download", click that 3. your options to 'save' or 'open'...just click open and it will play automatically
go back to this website and follow along. IF You arent good with computers, you can just read what I have written.
Right Click here for the AUDIO CLIP
GOLD - Gold was down $10 in Pre-Mkt and I visited message boards . I kept hearing all over Yahoo, Kitco, etc " Here we go, another slam down", but We are not even at the 10 or 20 sma, and we could be testing out magenta trend-line. So selling today would not be bad...look back at MAY and DEC. During those runs, we often dropped to the 10 & 20sma on the way up.
BOTTOM HUNTING PART 2
OCT 14, 2014 Since pointing out a few of the things that I look for to "Indicate" a possible trade-able bottom is near, we have had some improvement and I wanted to point those things out. I also have received concerns (Interesting) that some feel they may be missing the move if they havent taken a position, others who have are feeling anxious a bit too ,that 'it's not working' . That seems to lead to questions like ,
1. "Are things O.K., feels like we are just going sideways?"
2. Doesnt this look like a possible bear flag?
And
3. "Do you think it's too late?"
4. "Should I just jump in now?"
BOTTOM HUNTING
October 13 2014
Often you will hear the expression "Dont try to catch a falling knife" when a sector or stock is relentlessly selling off. In the past few years , we have seen it repeatedly happen in the Precious Metals sector, and most of you are ware that we had some significant lows in place on June 2013, Dec 2013, May 2014. I have been saying that I think we are at another significant low (If you follow Cycles, you know it as an ICL) . Is it possible that we could go lower, instead of trading off the current lows put in after last weeks FED MINUTES? Of course, but are there ways to look at - actually look INTO - the markets, and try to gain some insights as to what may be currently happening. I want to show you what I look at in times like these...it is by no means guess work. Starting with SILVER
Starting with SILVERS break down, most see it as a "Continuation" pattern (And it may be).
Sometimes a move like that can just "Run the stops" set at those levels to "Shake out" weak hands. If THAT was the case, you would expect SILVER to do more than just "Back test" that broken floor. Look at my next chart of Silver Below...
For Any Who Followed This Trade
OCT 10 Midday Sold Partial position in APT, liberal stop set on the rest . I dont usually post my “Sells” , I leave it to the reader to trade at their own risk / reward formula. I just wanted to point out that THIS is now extended 150% above the 50sma, […]
ATTENTION ALL TRADERS
OCT 10 —Have you ever been skating on ice and suddenly you notice a big crack? How about a HUGE CRACK? We may want to keep that PANIC BUTTON handy. THIS just raised its ugly head. CAUTION WARRANTED!
No – Not Yet
Oct 10,2014 As I start writing before 7 a.m., Futures are down quite a bit
I Got a funny email, it said, "With this sell off- When will you know that you're wrong?" - LOL Now I assume that the writer just worded that wrong and was really trying to say, "When would you know if this sell off was more than the normal correction that you expected?" OR Was that just a Freudian slip and the writer is telling me I AM wrong - when are you going to know that ? 
Let me put it this way, I am watching closely and the CNBC TOPIC is "Is this more than a normal correction? Or Is this going to be a Panic Sell off?
When everyone expects it before it happens, and FEAR is everywhere, they are usually wrong. The best way to follow it is....TO THE CHARTS!!
QQQ still looks strong. This is NOT a chart of Weakness (So Far)
Despite the cries of things getting scary - The QQQ on this next chart looks like every other correction before a strong rally
