Both the TSX and Venture have to navigate the Summer Doldrums which have a time line of May to Early September... The world News has brought this to the fore front almost a month early... any rallies into the middle of May will likely be an exit opportunity.... I'm referring to highly promoted stock that is overbought and still standing...
This could be a rough 4 four months to the end of august... News releases have taken the persona of an excuse to sell and exit...
Technical analysis that suggests buy signals should only be acted on in very strong issues where there is a possibility of long term gain... in which the pain is justified... the charts at the end of the link suggest that the move into the doldrums is flavoured with anxiety.... and as such... other than a few freak pops... any solid moves up will be from the forth coming ashes...
Unless there is some reason to expect the world stage is going to produce a miracle... it is best to plan for the worst.... shop hard for potential bottom picks and move in when the Markets are showing a bottom...
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The first two charts show the technical damage... of which there is no suggestion that momentum is building to correct this soft landing with any speed.. other than it may take a serious plunge over the doldrums to make money move in on bargains for the finish of the end of 2011.
I remain hopeful but not enthusiastic until the bottom jells and the averages are up off a drop on volume signals the end is near.
GLTA Lostoutwest
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