Stock Attack II - A Complete Analysis Message Board

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Strategies & Market Trends : Stock Attack II - A Complete Analysis

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To: Paul Shread who wrote (28200)	1/23/2002 8:14:09 PM
From: isopatch	Read Replies (2) of 52237

Paul. Per the failed HUI breakout. Been posting for months that chart analysis isn't effective for forecasting moves in the PM stocks. You've just given us one more in a long line of examples I've seen from many pros as well as talented amateur chartists. A close friend has been a subscriber to Security Trader for some time. That's been a good service over the years. Yet, I've watched ST get burned over and over with failed forecasts based on chart pattern work. . I stopped relying on charts for precious metals stocks after getting wip sawed out of several gold stocks with moderate (not small<g>) losses in October of 2000. Even posted my displeasure about it at the time.<g> Can laugh about it now. But I was really pissed at the time.. It was the last straw for me AFA relying upon chart work to trade the PMs. And I set to slowly watching and collecting other possible tools that might be effectively combined to achieve an acceptable consistency of success. Finally in early April of last year I began using a combination of a few non TA tools that I've posted about here and on SD II since that time. Have termed them an extension of fundamental analysis to include supply/demand and sentiment measures that had not been previously used together by any analysts I'd ever seen. Since that first big buy signal, I've been OUT and in high cash during the major declines and IN long positions to catch the vast majority of each important short to intermediate up move. A few days ago, I posted to you on SD II a list of evidence that pointed to further downside in gold, contradicting the bullish breakout signal you were getting. Today we decisively broke support at $280. Isopatch

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