Nov 15 – Winds Of Change?

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I would say that we were seeing a normal correction in Oil on Tuesday, and we are heading into the Oil Inventory reports Wednesday, so nothing really changed there. So why did the Theme become "Winds Of Change?"  It is because OIL stocks started to pick up in their selling, The Euro situation changed, Biotech broke down further, and a couple of other minor changes also became evident.  I wanted to discuss these areas a bit more and the changes that I noticed...

 

SPX - Each sell off lately is still being scooped back up, but I'm still seeing the divergence that I pointed out a week or so ago as Price went higher.  The RSI & MACD are still drifting lower. There is still room to drop on the stochastics, so this time price may want to also drop to the 50sma,  or even continue sideways to that 50sma. Why? ...

The TRAN, RUT, BKX, etc., broke below their 50sma. Let's take a look.

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Nov 14 – Something Precious On The Horizon

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Yeah, that little guy on the left is rather precious to it's dad there, but I'm talking about Precious Metals here.  Let's discuss what I mentioned in the weekend report about the coming sell off that I expect in Gold, Silver, and Miners, and discuss what we might see ...

 

I started with these 2 charts,  one of GOLD

And the other of GDX

 

But I also included this chart and it raised questions in the minds of some of our readers, so let me discuss this a bit further...

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QUICK REPORT ON THE FAST TRADES FOR OUR TRADERS

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MYMMF-  Bought at 42 cents

 

MYMMF -  Hit $1.26 today.

 

Do we have another set up similar to this and the other ones?   Yes, I believe we do...

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