This is very positive as it puts the stock into fairly overbought territory with momentum indicators making much lower highs. We are expecting an imminent turn in GS and another multi-week move lower, which will put our short sell nicely in the black.
Here are the charts from today:
And the Shorter Term Chart
Work on the new website is coming along nicely. We are going to be making a pretty huge offer for the first 30 days of the site's launch, and are excited at the interest thus far generated.
The market is still trending sideways-up and it looks like a new high should be put in on the major indices - the secondary indexes should turn down 1-2 days before the primary indexes to lead the market in its next leg down.
Have a great Thursday!
Derek.
Posts
Derek,
ReplyDeletePurchased FAZ at 17, SDS at 37, and did not pull the trigger on gold at 1097. Given the action of the past week and a half (today's action in particular), I would love hear your thoughts / interpretations.
oooh, those are interesting charts, you have an interesting perspective.
ReplyDeleteDerek, why was your site offline yesterday for most of the day? Everytime I loaded it, a google site appeared and said "404 Error, Document not found".
Any way, congrats on restoring your site. I thought you had quit.
-Shelby
@Shelby - we were moving over the nameservers for the domain to our new host, and it can take some time for that to be registered across the net.
ReplyDeleteThe new site is scheduled to be up in a few weeks.
Thanks for the explanation.
ReplyDeleteI can do that in 15 minutes, hehe, but I am not available for hire.
Good luck with the new site. Btw, I wanted to follow all my prior posts by saying I do not say it is impossible for someone to earn money from trading if they use stops on wrong calls, and let winners run. I see for example Chris Vermulan documents his performance and did roughly +60% last year. However, my beef with that is that so did any one who bought silver at the start of the year too.
But those who want to hedge or earn money on the downside, can't do that with a long position. So I can not say for sure that there is no value in what Derek is providing. If anything, he has clever ways of interpreting charts and it is interesting to read. Again good luck with your new service.
-Shelby