What an absolutely fantastic week in the
markets and many leading stocks.
is playing out according to plan/the charts. I’d expected a low to be
put in and it was on November 16th and we’ve seen some truly
spectacular, huge, fast moves off the lows.
expected a rally into the end of the year as it’s generally a good time
to be in the markets and it’s playing out right on schedule. Now
we’re seeing a little pause here for a few days or perhaps a week
before we continue to move higher and we’ll be there as always to try
and capture some of the gains.
fiscal cliff rhetoric continues to dominate the news but it’s all bunk
really. The US doesn’t have a budget, nor do they spend within their
means so what will be different this time.
I know. This time we’ve got a fancy name to call default!
so called “fiscal cliff”.
thing will happen here and it’s the same thing that has occurred over
and over again, more money will be printed.
Everyday there is some nonsensical speech by politicians
talking about the fiscal cliff and it usually moves markets and stocks lower
quickly and for a brief time. The markets know it’s
all talk and are very strong right now so these dips are to be bought until
they stop working.
check out the precious metals charts whom are a bit mixed at the moment but
for more detailed daily updates on these and many other fast moving stocks
and the general markets please
join my awesome group of subscribers who are killing it along with me!
fell 1.97% for the week and broke it’s rising
wedge pattern which is most times a bearish pattern.
looks like we’re going to see gold fall further from here to at least
the $1,700 level. We could easily test the 200 day moving average down at
remains a great long term hold in terms of the physical product and I’m
fine with that. I prefer not to trade it as there are many better faster
moving stocks to trade and they behave much better making it much easier to
now I remain negative on gold but that would change on a move back above the
50 day moving average at $1,740.
fell 1.35% this past week and is in much better shape than gold here which is
kind of odd.
is holding strongly within it’s
uptrend channel and has the look of setting up a cup and handle pattern in
the next couple weeks if all goes well.
love to see that and it may be one of the rare occasions that I take a trade
see how the action goes but I only update these charts here for free weekly
so to be Johnny on the spot which is so important, join me for my daily updates.
fell only 0.94% this past week and looks great for higher prices anytime now.
break out of this little consolidation area here above $1,625 is the buy
point if you’re into trading this or the PPLT ETF.
be looking at $1,675 as a resistance level and perhaps take some off if
it’s not acting well but if it acts well we could easily see a move to
recent highs near $1,725, a $100 point move.
rose a sweet 3.16% this past week and looks great for more upside here to
recent highs above $700.
not be chasing this here though as the proper buy point was well below here
at the trend-line break at $620. If you took that trade it’s definitely
time to begin to lock in these very nice quick
type of fast large move could soon be seen in platinum.
end this here as it’s been a very long week with nearly 100 pages going
out to subscribers for the week. Subscribers have to be my focus, especially
in times like these and I’ll be putting in a lot of work on their
behalf over the weekend.
things are slow my daily updates are pretty short but when things are good
they can be quite long, even over 30 pages a day.
don’t see the point in trying to squeeze out little trades all the time
so I don’t. I wait for the big moves to develop and then focus hard and
go hard. Now is the time to go hard!
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