Or at least that is what I take the last Blog post on Stock Charts to mean,
concerning the Ram Bullish % of the GDX Stocks in Positive P & F formations.
Interestingly enough two of our most outstanding topographic features, the "Straits of Hell" and "Whale Island" are featured in this Blog Post on Stock Charts (ARTICLE - Click Here).
What we, DENALIGUIDE SUMMIT & PEAK PICKS called Jul 1, they now see !
So clear is hindsight. Gee, so easy a Neanderthal could do it, if they pay attention.
Main difference? We did it. Drop us a note if you'd like a copy.
I will send you one free with your first FREE month and subscription as well, simple sign up on the sidebar.
Single copies from that period are free. Drop us a note, talk to us......
So now What >? First, who is HOT, who is not ? Second, how tactically to you take advantage of this without getting incinerated ?
I got an "APP" for that !
There is HOT Short Term, and there is HOT Long Term, which do you want?
DOES IT MATTER? Yes it Does !!
Whatever the advance that started Mid June of this year turns out to be, the horse your riding, and the race your running WILL matter. So far we have had TWO short term Profit taking legs so far, or one very nice long term LONG
It depends on how you play.
Lets look at the evidence. First, courtesy of Stock Charts, we have a good look at WHALE ISLAND, an Island Bottom in the making 7 months LARGE. Until the STRAITS of HELL are Bridged or Jumped, its an Island. Whether it becomes a peninsula remains to be scene, but Stock Charts and Arthur Hill seem to think there will be some kind of conflict fought over the Straits of Hell
I cannot say, except to identify the kind of force that was used to create the Western Mouth of the Straits, by the hammer hand of the guys who created the TAX DAY MASSACRE. Maybe they were too heavy handed, but this is now history and remains to be defined when the STRAITS are crossed on their Eastern Mouth. The Straits were created in Violence and Conflict, and could just as well be resolved in the same manner, rather than organized Bridge building.
Lets look at WEDGIE-360 which is HISTORY now
As we see it is Fait Accompli, an accomplished fact that HUI broke out of a very steep falling wedge on a MONTHLY basis, implying a powerful long term formation, perhaps eliminating all buyers and sellers inside the wedge at that time. Thus, goes the theory, the trend reverses in a decisive manner.......
So we shall see.......
Now lets look at the Cycle component I named X-PSYKO a few months back
Bottoming on-time as it could, scaring all the BBQ'd Bulls, and giving false hope to the Shorts and the Bears, X-PSYKO is doing its job, the question remains, is going to be the "GRIND it OUT ON THE GROUND" Green Bay kinda Ball-control game or are they going to go to the ShotGun Offense and bomb the opposition with lots of TD passes?
And then again it is the matter of Nuking the Comex gold contracts that dug the Straits of HELL, and created WHALE ISLAND, the 6 mo long critical ISLAND REVERSAL Element in place and waiting.......
In Fact, I don't see how it matters too much whether your a SHORT or a Bear, its clear that Nuking the PM Complex on the Tax Day Massacre was the wrong thing to do, either through hubris or incompetence, or so I feel.
Since we have discussed some of these FACTS before, I repeat them knowing that as long as a play is working, you keep running it. That applies.
One last thing: WHY Wait to PROFIT? PROFIT NOW> SIGN UP NOW !