Wednesday, March 6, 2013
Is it safe yet ? " Remember Marathon Man" ?
Yes Dr. Mengele asked Dustin Hoffman that question it seemed like hundreds of times.
Thus after Gartman, CNBC, the MSN, FORBES, and a whole laundry list of entities trying to scare you out of your liver, and make you dump your GOLD and GOLD STOCKS, you either DUMP them and let them fall into stronger hands, or you stand fast with or without more dry powder. Lets take a look:
This is the Canadian Venture Index, generally the most speculative about, filled with Junior Resource Companies, and hence very sensitive as a lead item.
LOOK at the Top Panel. That is a weighted measure called VORTEX, and its 6 day moving average. IT HAS Broken out to the upside. POSITIVE !
MIDDLE PANEL : Price with its PIVOT notations, based on Hi, Lo & Close for the week. It has Bottomed at S1 (Red Arrow). POSITIVE.
Bollinger Bands - price has stopped at Bottom margin (Orange Arrow), and that intersects with the S1 Pivot ( support ) Thus SUPPORT + SUPPORT, thus POSITIVE.
GREEN ARROW. 5,9 TRIX or Triple Smoothed Oscillator, which has given us a short term breakout to the UPSIDE.( Short Term Trend Measure) POSITIVE.
BOTTOM PANEL: True Strength Index, similar to MACD, about to create an upside cross over but not as yet. NEUTRAL.
POINT & FIGURE Chart used to cut down on "NOISE" or non-meaningful notations.
DOWNSIDE OBJECTIVE OF 1088.96, virtually Achieved. Thus this chart is in NEUTRAL POSITION.
So after the THREE Major Gold Stock Indexes, XAU, HUI & GDM had large and significant bullish moves today, AS WELL as satisfying all downside objectives, Do you think GARTMAN, FORBES, CNBC and all the other Talking Heads, Spewing Guru's and Media FLAks will tell you to buy NOW? NOT !
WHAT TO DO NOW? Probably you can enter the Precious Metal stock you like. Probably. You can Sign up for a PEAK PICKS SPECIAL including 1 FREE Mo. RIGHT HERE from our NOV 33.97 Special.
Whether you subscirbe or not, you may want to consider setting some limit orders UNDER the MARKET, lower and / or substantially lower, as a direct challenge should we get a SALVO of "5 RULE" Smackdowns this week.
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