Loading ...Textbook Stan Weinstein Continuation Breakout
First Majestic (junior silver miner) is an AWESOME looking chart according to Stan Weinstein’s stage analysis! Stan could of used this in his book when describing continuation breakouts. This is setting up VERY nicely!
Extract from Stan’s book: https://www.amazon.com/Stan-Weinsteins-Secrets-Profiting-Markets/dp/1556236832
This book saved my NAV and trading career in 2007-08… and helped me position myself to short the markets right it started it’s Stage 4 decline in 2008
One of may favorite Silver plays!
A++ setup. I know nothing of the fundamentals of it.. but the price action is telling me smart money have done their homework and think this is gonna fly.
Did anybody post anything in early october as this was pulling back on contracting volume? When fear was increasing… that was actually the time to start loading up.
I loaded up in December 2018. I have heard Keith speak at conferences and am very impressed with the company culture, how they perform during lean times as well as the new technology he has going in all over Mexico. It is going to scream as Silver moves higher. This is one of my four pure silver plays: AG, MAG, AXU, SILV.
Enjoy the ride!
Weinstein’s book was one of the first I read on trading. I think it was about 26 years ago.
Damm. What is the age range here on goldtent. You guys making me feel young! Thanks 😉
The first TA book I read was Edwards and Magee’s Technical Analysis of Stock Trends sometime around the Woodstock era. When the moon was in the seventh house. ?
You can’t ask questions like that, here in the U.S. anyways. That law was passed in 1967. I was still a wooden nickel from birth 🙂
Devils Advocate here
There is no guarantee that this pattern is complete
I see point 1 reversal and point 2 reversal now we may see a point 3 followed by another trip down in the trading range to point 4
Then we have a pattern to watch . It could break either way from there but UP is most likely as Continuations are more likely than reversals.
Party Pooper Fully