URC watch

URC still shows no signs of significant positive divergence, and with Canaccord manipulating the price at will... in a continued broad market sell off... don't chase, as the momentum to pull out of the hole will need to be extremely motivational along with the supply having been extremely low in numbers... spikes will sell off dramatically in a broad market sell off as traders try to balance out losses on bad trades.


GLTA Lostoutwest
Kenuck SmallCap Trader

National Post

Grandich

StockCharts Public Chart List

CBCnews


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Paladin watch

One hour into the trading day and 2.5 million shares on a gap down. Yipes!

Were ready for reaction bounce soon... a good trading opportunity... if you make a trade or are holding and see this bounce/// unless you see a broad market reversal to go with it, I would watch for a top and take an exit if an evaluation suggests.

All the studies in TA I am doing suggest further downside. The only positive I can safely say is... "It always gets coldest just before the dawn".

We have broken support on a triple bottom and the next level of support that provides itself visibility is just under 3.00 dollars. Resistance has now moved to 3.60 to 3.65


GLTA Lostoutwest
Kenuck SmallCap Trader

National Post

Grandich

StockCharts Public Chart List

CBCnews


Please read our Complete Disclosure

I think it's Official

For the most part, we will see a continued sell off ... Wednesday's index watch smacks of institutional selling, and associated panic selling on the open for most small cap issues I follow. Wednesday should be a day of advance, instead, it is a day of retreat... while it may be early in the day to make such a call, the prospect of a rally into Thursday and Friday is slipping away quickly. Thursday and Friday have at the best of times offered limited averaging success when taking a position for advances unless that position was distinctively a dip. Any rallies will be sold into. Go with the flow. Preservation of cash is in order as a major consideration to implement as a realistic strategy, not to abandon the market, but, it can be safely said that when in doubt, it is better to sit on a pile of cash... You can always buy back in... wiser and safer.

Particular strong fundamentals for certain stocks has slowed the reaction of their price to the broad market move and some of them may buck the trend. In such cases trading opportunities for already oversold issues may take place. However, rallies have a likely potential to sold into by traders as they try and take a cash position and balance losses on other issues... A broad market sell off will take many casualties with it who have weak skills in technical analysis and fundamental analysis.

Institutional sellers have the savy and leverage to take short positions, with loopholes providing avenues to participate in naked short selling without reppercussion unless under extreme scrutiny.

This a slippery slope.





GLTA Lostoutwest
Kenuck SmallCap Trader

National Post

Grandich

StockCharts Public Chart List

CBCnews


Please read our Complete Disclosure