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Politics : Welcome to Slider's Dugout

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To: SliderOnTheBlack who wrote (2417)	9/20/2006 9:32:29 PM
From: 8bits	Read Replies (1) of 50744

"e: "He reversed that call very quickly. I think within two days." -- Wrong and Wrong. He didn't reverse anything -- he waffled....and it was 9 days later. And worse than waffling... he just said in his most recent update - that he never sold his core positions -- ie:" "His quote from 9/19/06: "$HUI – prices are currently testing TL support, and we need to see a monthly close above support to remain bullish and continue to hold our core positions." No it wan't the 19th it was the 9th (at least from the article you posted): "A follow up on our gold trades By Jack Chan at www.simplyprofits.org 9/9/2006" His articles are posted several days after he sends them to his subscribers.. as you see from the commentary below he was out completely on the 11th... -- he waffled... By nature technical traders waffle don't they.. he's been fairly bearish on Gold and oil since the break in May and basically declared $80 oil would be the highest we would see for this year back in July. I am not a subscriber so I am not privy to all of his calls however: 321gold.com "BO#4 is now confirmed, and there is one more final hurdle, by exceeding resistance at the .60 level . Nevertheless, the breakout alerted us to watchfor set ups in the gold sector." So it's not a buy but a heads up. 321gold.com On the 11th: "GDX - we bought GDX at $39.35, in anticipation of the breakout. We did have a breakout, but was quickly reversed on a gap down. We took partial profits at $40.30, and got stopped out on the remaining positions with a stop at breakeven. Trendline support is violated and we took a small profit and went back to cash." So on the 11th he's out completely... 321gold.com On the 15th: The header of this article is: Gold in a free fall "Sep 8/2006 - we have a sell signal on 9/08 after what appeared to be a breakout also. Sentiment is also extremely bullish as the one year awesome rally from May 2005 to May 2006 is still fresh on everyone's mind. Both of these false breakouts are what I call "failed recovery peaks", and they are the most dangerous situations in the financial markets as fakeouts are often followed by breakdowns. Another infamous "failed recovery peak" occurred in September (yes, September) 2000 in the Nasdaq." But what if? We did have a twenty year bear market in metals didn't we? Holding and hoping is not an alternative. Hey that sounds a little like you ... :) On the 20th: 321gold.com A major correction is due and could drop prices back to between $430 and $485. When did he reenter GDX..? It's unclear from his public articles which have delayed and less frequent publication.. and note Jack Chan can and does reverse his calls quickly...overall though he's done pretty well and has been short a number of times.. He advises his subscribers to ride the beast up and down and to stay out when things are clear. I can see why you chastise Sinclair and the Daily Reckoning but Jack Chan seems to be a straight shooter.

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