Current Trade

Saturday, October 17, 2009

Where's the October crash?

My own watch list is showing a lot of churning, but I must admit I'm getting that, going to miss the rally feeling. Expectations of an October disaster have so far been elusive.

Paladin is being tossed around because of ides of October, however it remains steadfastly in a medium term up trend according to my charting... though the whipsaw in this ranging consolidation is considerable and measurable in runs of .80 cents either way.

Looking over Paladin from many angles, and different studies leads me to suggest any hard dips will most likely be a good entry. A long term reversal pattern is just emerging. It is safe to say we hit bottom at 1.50 and any serious pullbacks would be greatly welcomed.

Paladin is streatching out in a symmetrical triangle above, and horizontal on a collision course with the 200 day average... which will likeky provide a potential solid, level of support, and further elevation of the price in a perfect world, especially if the tax season depresses the share price long enough to be in line for a Santa or Jan. rally.

For long term this is a hold IMOP, swinging is day trading during this consolidation.

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