I'm not calling one, however there have been two articles:
http://www.grandich.com/2010/11/bear-raid-145pm-est/
Kitco...
http://www.caseyresearch.com/gsd/ posted that reflect what I saw in my Stockhouse Public List
This week was brutal in that the holiday (on top of US elections) may have had some influence, so I'm holding any opinions until next week.
If the Markets do turn suddenly, then it breaks one of the main major rules (in my opinion) in assessing charts in the area of continuations and/or bullish points of entry using technical analysis. The odds will not be in favor. The market gets short with selling tops prevalent.
I know for a fact that a lot of the really fast movers have institutional traders manipulating the price... It is not all savy retail investors. I also feel the professional traders will act en mass, and a market can turn when they move to sell... a powerful force to defy.
Gold and Silver may get stagnated, but it should provide opportunities for charting really excellent positions for longer holds; this is assuming the markets take a down turn, and we get an opportunity to dip/bottom pick..
It would be prudent to take stock of a portfolio and consider some kind of exit strategy just in case a person may want to swing at the very least on a break even in some issues that may be a bit more speculative.
EVG.V SQI.V and LI.V are likely candidates that shouldn't get hit hard, simply because of the fact that they have already been in a heavy consolidation, or are in the very early stages of a reversal, or up trend. This goes for any other issues that may fit the profile. They are not immune though.
If a stock has been on a tear... then a huge overhang may be hovering, and if the market turns, issues in any persuasion will likely sympathise as in the baby out with the bathwater. Heavily promoted and followed stocks can lose value as investors take profits to balance losses in other highly speculative issues where they are taking a hit. This is a small cap thing. Trading buy signals can be very dangerous as in false starts... continuing down to further new lows.
All of this is moot though, the markets have not turned as of this post.... just wobbled a bit.
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