iso,
Give Elvis a nice dogbone for me and put it on my dogbone bill, ggg.
Back on October 28, I said I would reserve any exuberance till a couple dozen HUI points have passed:
Message 18166362
Close on 10-28 was 112.87 +24 = 136.87 The EXACT close today!
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(Enter your preferred exuberant yell here, lol)
Congratulations to all on the thread who helped SDII call another Bull Run, as the original SD thread did on the energy bull three years ago. One thing I learned during that great bull run in energy 99-2000 was not to lose good positions in a bull market.
Message 18201851
Heavily in PM stocks here as November is my target month for start of next leg of gold bull, based on proprietary fractal and *fibb/ew time sequence work. A few of you had some hints about this via private messages, but I was not going to subject the thread to a technique I won't show details on (for now). Am confident enough to mention it and any who wish to explore the charts with the above hints are welcome to it, now that I am almost tapped out and in full positions, ggg.
Quite likely we will have some headfakes down and a lot of daily noise, but with a view of the weekly and monthly charts (try 5 year and 10 year ranges) the trend is obvious beyond dispute to any chart technician, with just standard support/resistance and pattern work. Manipulations, from whatever source, create too much noise on the dailies and shorter term charts, but the moves cannot be hidden on the longer term charts.
Also I have one tech/defense stock.
What is left will be reserved for daytrading and energy at the proper time, but I also will draining some more out of LT non stock funds for more leverage in what I believe will be a grand run in precious metals and also energy (EDIT, later).
I am also transitioning right here and now, from mostly short term trades to mostly intermediate with some LT investing.
By the beginning of November I was fully loaded with PM stocks. Shaking the cookie jar and taking some tech/defense profits allowed me to add to my positions on December 2 at the end of the NR-7 (string of dojis from November 20 thru Dec 2, a high reward pattern for golds).
Also added a small amount on margin during the early part of December.
The most gratifying part of all this for me has been my increased ability to hold my positions in a BULL market. Shorter term trading was good to me in the early XAU/HUI bull, selling at highs, buying back cheaper with only the nasty descent in July being a tough one to hold through (I doubled up near the bottom).
But IMHO, the time for short term trading is over and as my November 6 post indicates, I have transitioned to longer term holds. My initial targets for POG are 352 and 400. My targets for HUI go all the way to new all time highs.
Of course that's just my opinion, I could be wrong.
But I don't think so, ggg
Roebear |
