Creeping is the word that best describes the price action on level II, along with the teardrop effect... the solid building of support... the opens remaining strong in the .64 .65 cent area... and today's open suggest that the supply and demand are about equal at a charting point that is technically a point of entry that allows the control of risk to a maximum, provided an exit strategy is adopted... a very strong open on .66 pushing to .67... all buying... nice open coming from the bottom. If possible the optimum buy would be in the .63 tom .65 area for maximum ability to control risk and let the chart go for a bounce as is highly suggested.
If this were to demonstrate hitting the bids from the ask side, and were to drop below .61 cents, then I would control risk....
GLTA Lostoutwest
Kenuck SmallCap Trader
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Thursday, November 4, 2010
Wednesday, November 3, 2010
Not a good Wednesday!
It is too soon to react... but I have put any bullish buying on hold... preferring to bid than participate in any price chasing, sticking to very strong fundamentals for a dip. DML.TO has shown some nice gains this morning, and I would look to swinging if it doesn't hold over the next few days. Uranium is a bit whippy on most of my favorites... and I feel the TKO.TO has been a shock to many holders who may be dabbling in other issues, causing them to move to cash to offset the losses, which are sizable. A smack in the common sense department.
The selling pressure could also be more likely something in the wind with institutional buyers we have yet to see, involving the elections in the states. Gold and silver may take some knee jerk... and a quick look at my watch list shows a broad back fill in motion. A sea of red if you will.
A quick look at the Venture and Toronto StockCharts Public Chart List is displaying some more than average selling pressure (distribution).
Issues that have not spiked on exuberance (lack of overhang) should hold bullish positions.
Something I have noticed, not written in stone, is Wednesday has been for quite a few weeks a heavy distribution day, in spite of which the markets have bucked, and gained a bit. looking at the charts, the day after any two or three distribution days has recovered almost immediately the following day, picked up from the down close... anything less would be foreboding. I do not imply a market crash... but a correction is suggested in some of the shorter term indicators.
GLTA Lostoutwest
Kenuck SmallCap Trader
Stockhouse
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If you see the hand... click on screen shots to enlarge them.
The selling pressure could also be more likely something in the wind with institutional buyers we have yet to see, involving the elections in the states. Gold and silver may take some knee jerk... and a quick look at my watch list shows a broad back fill in motion. A sea of red if you will.
A quick look at the Venture and Toronto StockCharts Public Chart List is displaying some more than average selling pressure (distribution).
Issues that have not spiked on exuberance (lack of overhang) should hold bullish positions.
Something I have noticed, not written in stone, is Wednesday has been for quite a few weeks a heavy distribution day, in spite of which the markets have bucked, and gained a bit. looking at the charts, the day after any two or three distribution days has recovered almost immediately the following day, picked up from the down close... anything less would be foreboding. I do not imply a market crash... but a correction is suggested in some of the shorter term indicators.
GLTA Lostoutwest
Kenuck SmallCap Trader
Stockhouse
Track My Trade - this is a link to an off site I follow, and have no affiliation with.
National Post
Grandich
StockCharts Public Chart List
CBCnews
Please read our Complete Disclosure
If you see the hand... click on screen shots to enlarge them.
DML.TO
Smoking... 2.49 this morning.
GLTA Lostoutwest
Kenuck SmallCap Trader
Stockhouse
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National Post
Grandich
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CBCnews
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If you see the hand... click on screen shots to enlarge them.
GLTA Lostoutwest
Kenuck SmallCap Trader
Stockhouse
Track My Trade - this is a link to an off site I follow, and have no affiliation with.
National Post
Grandich
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CBCnews
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If you see the hand... click on screen shots to enlarge them.
TKO.TO
I just took a glance at TKO... down 2 bucks on the open.. the Prosperity project got nixxed under pressure from the First Nations lobby... Ouch!......... Figured something was up when someone from the states bailed 2.6 millions shares in one dump a bit back. Insider trading obviously... should be some jail time IMOP... Martha better not be behind it.. That's one big project... timing will be tough, however the price for entry could be a whole lot less at a better time...
GLTA Lostoutwest
Kenuck SmallCap Trader
Stockhouse
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If you see the hand... click on screen shots to enlarge them.
GLTA Lostoutwest
Kenuck SmallCap Trader
Stockhouse
Track My Trade - this is a link to an off site I follow, and have no affiliation with.
National Post
Grandich
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CBCnews
Please read our Complete Disclosure
If you see the hand... click on screen shots to enlarge them.
Tuesday, November 2, 2010
Throughout my watch list
I see creeping gains, a few surges that are decent, with distribution capping spikes of consequence, still they chew through paper. two or three days are common place with as much or more sideways consolidation.
Today is Tuesday so the rising markets should push hard past Wednesday with heavy distribution... What I'm driving at is that overall... things are positive with surges to the up side for a few days with back fills to the downside on higher lows, however everything is creeping under pressure not flying with abandon.. we are working for gains.
You need to look at the big picture to taste the sentiment of the market... this cautious, but bullish setting will try the patience of newer players who have been on the wrong side for what seems forever, or are expecting results without waiting for the cycles to play out.
GLTA Lostoutwest
Kenuck SmallCap Trader
Stockhouse
Track My Trade - this is a link to an off site I follow, and have no affiliation with.
National Post
Grandich
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If you see the hand... click on screen shots to enlarge them.
Today is Tuesday so the rising markets should push hard past Wednesday with heavy distribution... What I'm driving at is that overall... things are positive with surges to the up side for a few days with back fills to the downside on higher lows, however everything is creeping under pressure not flying with abandon.. we are working for gains.
You need to look at the big picture to taste the sentiment of the market... this cautious, but bullish setting will try the patience of newer players who have been on the wrong side for what seems forever, or are expecting results without waiting for the cycles to play out.
GLTA Lostoutwest
Kenuck SmallCap Trader
Stockhouse
Track My Trade - this is a link to an off site I follow, and have no affiliation with.
National Post
Grandich
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If you see the hand... click on screen shots to enlarge them.
The Market
The venture is approaching nosebleed heights, but the truth is it is also showing no indication of letting up... that in itself makes me nervous...
The toronto isn't as robust, but still is bullish. I'm seeing indications of consolidation in the venture, but the Toronto still looks solid.
It would be a real pop and crash if this lasts in to April next year.
Hold your breath.
GLTA Lostoutwest
Kenuck SmallCap Trader
Stockhouse
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The toronto isn't as robust, but still is bullish. I'm seeing indications of consolidation in the venture, but the Toronto still looks solid.
It would be a real pop and crash if this lasts in to April next year.
Hold your breath.
GLTA Lostoutwest
Kenuck SmallCap Trader
Stockhouse
Track My Trade - this is a link to an off site I follow, and have no affiliation with.
National Post
Grandich
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The other eye SQI.V
is on SQI.V... The chart is showing some nice narrowing, which in another word would be squeezing.
Candles are smaller, movement is to the right... volume is light... price placement is near the 200 day average where the symmetrical triangle if viewed as a continuation pattern, at this point, is definitely part of an up trend... would suggest we be ready for a breakout. Then considering the gold and silver pricing... Level II has no movement from the sides in either direction more so than the other... the perfect buy with the lowest risk at this point is .60 to .63 cents which may show itself this week at least one more time...
I will be making an update to the public List StockCharts Public Chart List
GLTA Lostoutwest
Kenuck SmallCap Trader
Stockhouse
Track My Trade - this is a link to an off site I follow, and have no affiliation with.
National Post
Grandich
StockCharts Public Chart List
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If you see the hand... click on screen shots to enlarge them.
Candles are smaller, movement is to the right... volume is light... price placement is near the 200 day average where the symmetrical triangle if viewed as a continuation pattern, at this point, is definitely part of an up trend... would suggest we be ready for a breakout. Then considering the gold and silver pricing... Level II has no movement from the sides in either direction more so than the other... the perfect buy with the lowest risk at this point is .60 to .63 cents which may show itself this week at least one more time...
I will be making an update to the public List StockCharts Public Chart List
GLTA Lostoutwest
Kenuck SmallCap Trader
Stockhouse
Track My Trade - this is a link to an off site I follow, and have no affiliation with.
National Post
Grandich
StockCharts Public Chart List
CBCnews
Please read our Complete Disclosure
If you see the hand... click on screen shots to enlarge them.
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