Jul 24, 2013
1. Things could be worse. You could be Anthony Wiener.
2. Or his wife.
3. Please click here now. That’s the ZJG (bmo gold juniors ETF) daily chart.
4. Look at that chart carefully. A battle is in play.
5. An island reversal pattern (bullish) is taking on a myriad of bearish technical indicator and oscillator sell signals.
6. Gaps are filled, by price grid “street fighters”. No self-respecting electronic pit trader ever bets against a gap being filled.
7. Likewise, no super-surge trend bettor ever bets against a bullish island reversal of size.
8. A bullish island reversal is formed when price gaps down, leaving a space on the chart. It then trades below that gap, and the longer it does so, the stronger the pattern becomes.
9. Many gaps are filled quickly, but many are not.
10. This island reversal could become the head of a h&s bottom, whether the gap is filled or not.
11. Because we are dealing with junior stocks, all technical action needs to be taken with a grain of salt.
12. $1320 -$1340 is a major HSR sell zone. My daily chart stokeillators for gold, GDX, and GDXJ are all in nosebleed land. The bears just got nuked. News turned bullish for gold.
13. All of point #12 suggests that the bankster tanks could open fire on the parabola demanders, and they did, today.
14. After the bears are all dead, which way do you think the banksters look on the POYG chart?
15. Correct: DOWN.
16. Please click here now. PGEN – to- zero, example number 1 zillion, in play now.
17. That’s Penny Swings pf component Connacher, and you can see it just TRIPLED, from the “it’s all over” zone of 6 cents.
18. The weekly chart suggests the party is just getting started, but if you bought this to zero, it’s time to call your profit harvester to the table, and book some profit.
19. Sell more in the 33 - 57 cent range, if it goes there, but sell some now!
Gridtime! We’re overbought on my stokeillator, on many assets. I told you that this rally was about the bankster destruction of the bears. Whether that means a consolidation/light drift down from here now, a rise to $1355, or substantial new lows, you can’t know, but you can take the pain, whatever the worst case scenario is. Gulag soup? Throw it in the guards’ face. Tell them to open the doors at GDXJ $200, not $150. You couldn’t sell out a loss to the banksters, even if you wanted to.
It’s not in your genes.