Goldtent TA Paradise

Breakout Failure

1. Karl says:

   August 13, 2019 - 11:26 am at 11:26 am

   Seems to be a reasonable hypothesis. However shooting back up today or almost as soon also seems plausible to me. It’s been a bouncy, spiky market. Also plausible in my opinion is going back to bounce around (ouch) 1380-1420, approx. I would think one plays it on one’s own circumstances — how much cash, how much one wants to invest and in what sort of PM instrument — to be annoyingly repetitive I think if one has cash to deploy one looks at many individual companies’ charts, tending to pay less attention to the prices of the PMs and the indexes than to the individual companies’ charts and fundamentals..)

   (I do not have a short-term trader’s outlook so I do not think so much in terms of selling though I suppose I may think of lightening up on some companies I like less than others and almost immediately invest in ones I prefer that have better charts. So it could be a pleasant opporuntity to readjust if it doesn’t spike up immediately.)

   Hardly ever a dull moment any more it seems.

   • Karl says:

     August 13, 2019 - 11:50 am at 11:50 am

     I’m far from convinced that it’s not going right back up. But let’s say it isn’t, and that you tend to like (as I do) an array of small stocks rather than indexes or bullion or a few seniors. Let’s assume for the sake of argument that the PM prices and PM indexes are going down, whether somewhat or a lot.

     I think it can be a wonderful opportunity. I like to see which ones are **not** going down much compared to the others today and over the next few days. If I have time I look at as many charts as I can as well as the prices. The ones that hold up (and not just on day 1 or even day 2_ — that’s not necessarily so reliable ) are the ones to buy if you have extra cash, whether from something you’re selling, or from some other source. Or that’s what I think. I of course would not announce what I’m buying or selling since these would be relatively thinly traded.

     People like to write about “fractals”. There’s something analogous w/ respect to this strategy of reorganizing the portfolio in downdrafts. I think if you find something that doesn’t go down now much, it probably doesn’t go down in a downdraft in, say, 8 months or 2 years, and that’s information to remember for then. This stuff tends to repeat. Or so is my impression. In any case, it’s fun to look at.

     • Northstar says:

       August 13, 2019 - 1:09 pm at 1:09 pm

       Interesting points there Karl.

2. mpasatieri says:

   August 13, 2019 - 3:25 pm at 3:25 pm

   nice chart and I agree, am playing it like this. thank you!