Nervous? Heres a different perspective
/15 Comments/in Premium /by Alex - Chart FreakMid 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)
So Gold is holding up, what about Miners? Are they shaking some out, or are they about to collapse?...
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It isnt pretty, but the set up seems to be
/8 Comments/in Premium /by Alex - Chart FreakNov 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.
And also ....
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Reminder: Not All Bottoms Look The Same
/29 Comments/in Premium /by Alex - Chart FreakNov 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
So what we see happening also happened at June 2013 , Dec 2013 lows, May 2014 lows ...Now
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