Nervous? Heres a different perspective

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Mid day update /  Miners selling off  writing at 12:05 p.m. When I start seeing a sell off in Miners after I feel that I've done all my homework , I dont panic - I just need to look and see what might be happening. What (if anything) should limit the sell off? Is it normal? is it ugly or extreme?  So lets review a couple of quick charts that I threw together and see where we might be .  First off, GOLD is not selling off , but are Miners leading? What do I look for with GOLD?   GOLD  (Click to enlarge)   GOLD NOV 12   So Gold is holding up, what about Miners? Are they shaking some out, or are they about to collapse?...   Read More

It isnt pretty, but the set up seems to be

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Nov 12   10:00 A.M. Eastern       I am pretty focused on the Metals & Miners recently, but If you missed the run up in COAL and wanted to get in, it may be setting up for another leg up after a recent pause. These 3 charts show that the recent pullback is nearing support and could offer a low risk entry, because your stop is safely below support areas. WLT   And also ....   Read More

Reminder: Not All Bottoms Look The Same

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Nov 10, 2014       Mondays action was what ... Scary?  Yes, scary if you had a long  position.  If you didnt have a position, maybe it was time to take one!  Was this another chance to buy in the Area near the lows ? ...or...Was today a chance to go short for the coming plunge?   I ask that because I know many  (not here necessarily) viewed today as "Weakness".    'The Bulls have no strength , no follow through, No buyers and the Bears are still alive and well.'  And while I have to admit that that COULD be the case, I doubt it.  Bottoming is often called a "Bottoming Process" because the battle of the bulls & bears doesnt allow a sell off or a rally - At First. If you examine previous "bottoms",  you'll see that many act just like this before they take off upside. If it's a Real Bottom, that battle often drops off the New buyers, and leaves them behind.  AUDIO LINK CLICK HERE     AUDIO LINK Look at prior lows for Example:  The reversal candle made the lows, then the next week sold at least 1/2 way down that candle   GOLD LOWS   So what we see happening also happened at June 2013 , Dec 2013  lows, May 2014 lows ...Now   Read More