Sometimes it only looks comfortable
June 9,2014 I see a lot of trading set ups in the markets lately, various sectors too, but am I comfortable taking them? MAYBE as trades, but please be careful and don't get TOO comfortable. Like the Hammock above, These markets may look comfortable place to jump up on & rest (as they rise day after day) , but they are getting extended- and even nice set ups could fall through if a sell off starts. I am expecting a sell off (Not sure how much) sooner than later.
I TWEETED these charts last week , thinking that we would get a pullback, but they paused or dipped for 2 days and UP UP UP they went .
Now they are again overextended...
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Now they are again overextended...
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Learning To be Patient
MAY 30
I've been watching the Precious Metals sector again. As a short term Trader , it may be possible to trade here and there, but with the recent sideways moves and triangle formation, longer term Investors waiting for a TREND have likely been forced to learn patience. Like our little trooper in training above, self discipline will gain the bigger reward in the long run for most. The TREND.
This weekend, I hope to do less writing & More charts , so lets see whats new !!! 
Does EVERYBODY that you know say that they cant wait for GOLDS seasonal Summer Lows? A "TEST" of last summers lows? I've heard it A LOT, And the C.O.T. levels this Tuesday would seem to imply the same, but I still want to look at ALL possibilities. Here are a couple of charts to start us off...
However, Lets just imagine what would happen if this occurred
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Does EVERYBODY that you know say that they cant wait for GOLDS seasonal Summer Lows? A "TEST" of last summers lows? I've heard it A LOT, And the C.O.T. levels this Tuesday would seem to imply the same, but I still want to look at ALL possibilities. Here are a couple of charts to start us off...
However, Lets just imagine what would happen if this occurred
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Thats Worth A Double Take
May 27
As I speak , Gold is down $13. Is it breaking down from this triangle pattern that has formed over the past month? Quite possible- Most have heard that a triangle pattern is a "continuation pattern" and that follow thru is in the direction that the pattern started in. So Question is: Was Gold moving UP or DOWN when it started the Triangle?? Many expect GOLD to continue DOWN from here, since it appears that it entered this triangle as it headed down .
FOR EX: This is what the continuation pattern looks like in action. Heading up into the triangle pattern, it broke out upside.
EVEN THOUGH GOLD is selling off now , and looks to be follow thru to the downside, I wanted to point out something that I found interesting and AT LEAST WORTH A DOUBLE TAKE
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FOR EX: This is what the continuation pattern looks like in action. Heading up into the triangle pattern, it broke out upside.
EVEN THOUGH GOLD is selling off now , and looks to be follow thru to the downside, I wanted to point out something that I found interesting and AT LEAST WORTH A DOUBLE TAKE
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