Gold Stocks from Last Night\'s Update

Gold rallied $15 today and gold stocks rallied as well.  Here's the 60 min GDX chart, the ratio stayed on a buy signal all day.  Keep an eye on the uptrend line on the GDX/GLD ratio; I'll of course post it in real time on the Blog/Trading Community during the day.

Also here's the gold stocks that I had in last night's update, yes it was a volatile day, but the golds stocks did well overall and closed up on strong volume.  Many of the gold stocks could have been bought during the day on the pullback for better prices instead of the morning gap up.  Let's see if they follow through tomorrow. 

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Trade Ideas

Here's some individual trade ideas, just click on the chart URL's below

KSS - Long, bo over 56.65

CLF - Long, bull flag

MA - Short, bear flag see comments

COST - Short, see comments

COF - Short, see comments

TXN - Short, see comments

Gold Stocks

ANV - bo over 9.9, bull rectangle

BVN - bo over 35.10, bull rectangle

GG - see comments

AU - see comment

CDE - see chart

XRA - bull flag, see comments

AUY - see comment

Some charts

the MA's on both systems crossed.  The original SRS swing, it scaled out twice and the MA's crossed late in the day.  On the newer SRS swing system, it did not scale out but the MA's crossed late in the day.

here's the two systems.  Also, please don't mention the system parameters on the public blog, thx

Tag you're it

Weekend Newsletter Part 2 - Mech systems discussion and Commodities

New SRS swing

I added a new SRS swing system to the premium content section, it's called SRS swing #2.  It has better returns than the one we have been using (918% vs 811%) and has no losing months, also it's simpler to use because it only has one profit target instead of 3 scale outs.

here's the monthly stats of the one that we have been using vs the new one. 

SPX 30

that bounce off the uptrendline looks like a bear flag possibly, and the 60 period stochastics is below 80% and appears to be finding resistance at 80%.  I'm taking a little SDS home, what the hell I'll take a shot,

but realize that tomorrow is options expiration and that the SPX is still over the trendline, so this may not work out,

September 16th Market Recap and Watch List Comments

Topics covered: General Market Analysis, Gold and Gold stocks, Watch List Discussion

Bullish percent gold system chart

here's the chart, it works well sometimes, not all the time, but catches trends and a nice buy signal in mid Aug.  Now keep watch for a sell signal

Baltic Dry Index vs SPX

since you guys are talking about the divergence between the Dry Baltic Index and the market, this chart shows that best

The market

The one chart that I'm watching is the 30 min SPX, the 60 period stochastics is over 80% for 5 days now, also we have strong negative divergence now, it does't mean it has to roll over now, but it's something to watch

This article relaly shows why this is not a true economic recovery

 Revealed: The ghost fleet of the recession

ICO bo over 3.7

ICO, small coal stock, bo over 3.7.  BTU broke out today nicely, that is a large coal stock

NYSI Cumulative Trend Indicator

The NYSI cumulative works well for catching major long term trends in the market.  It's not perfect and gives whipsaws from time to time, however on the flip side it wil catch trends that last for many months.  Therefore in the future this chart will be one to monitor; as you can see it has never generated a sell signal on the whole move up.  Now realize that this indicator lags, it is not an indicator to pick exact tops and bottoms, i.e. they have to be in the rear view mirro, however it is one to look at for long term trends.  See chart.

Here's a dynamic link to the chart

Here\'s a historical chart of gold going back to 2002, I placed the commercial net short positions at the major tops and bottoms for comparison purposes. 

Natural Gas - here\'s some other ones

besides CHK, as you can see the Natural Gas sector is close to breaking out, and here's some other natural gas stocks that are about to breakout

Wednesday Sept 10th, 2009 Market Recap

Wednesday Sept 10th, 2009 Market Recap

Gold stocks

see the chart, 15 min GDX and read my comments

It would be nice to get one more slight pullback to the 50% retrace, and of course watch the trendline over the GDX/GLD ratio

GDX gold stocks comments - see chart

Sept 3rd: GDX has had a huge rally and breakout from the symmetrical triangle on the 60 min and daily charts. 

In the short term this move has been very impulsive and is a wave 3, this is also supported by the lack of NO negative divergence via the MACD.  A pullback should occur soon, but it will be a buying opportunity to load up long again becasue GDX should have another move up again i.e. wave 5.  The daily triangle measures to about 48

Tuesday Sept 1st Market Recap

(Market recap and analysis, Gold and US Dollar, Mechanical Systems, And Watch List)

SPY 60 min from watch list

SPY 60 min from watch list