In the past I have seen this period (late November mixed with tax selling) sail through Christmas on Rudolph wings...
Not expecting it so this time... the market just doesn't have enough time to break up and put this bleak sequential down trend to rest.... not with the capitulation I expect in the final draft of the Tax selling likely to put pressure one everything that is crawling.
The Canadian indexes listed in first 2 charts in the Stockcharts Public List demonstrate very little to hope for in a positive direction short term.
However, I'm also seeing some support which should hold steady after the new year such that if we capitulate on Tax selling... there are a lot of issues that are in the trading zone if we only had a heart.
Let's keep it simple and work along the lines of it's a new year starting on the cusp of a potentially brutal tax sell which will be a good flush. The type of thing that begets an aggressive entry point when the crush of pressure is lifted.
Brush up on the fundamentals of your favorite speculative Stock... In my case I'm watching TKO.TO with great interest just moving into a support position as indicated in the below chart study link and the move is likely to coincide with the New Year,
$2.40 to $2.50 is the bounce area of choice in this chart Taseko Mines Ltd.
Taseko Smart Chart Analysis
Recent television coverage on the Native perspective to Fish lake took another pot shot at Prosperity.. considering the mood of the market and the day's leading to Christmas tax selling.. I'm on the alert for an entry point for a swing at the baby out with the bathwater in the middle of the Santa rally period or just into the early part of January. Be mindful of any spikes too early... they will likely be whippy, so chasing is not advised...
The support area is also a great point for managing lower risk as it is an area where the market should pause giving a person a bit of chance to feel out the move.
GLTA Lostoutwest
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