Goldtent TA Paradise

Balmoral Resources

1. Simon says:

   January 3, 2020 - 12:27 pm at 12:27 pm

   Your view on this?

   • Steins1 says:

     January 3, 2020 - 12:52 pm at 12:52 pm

     LOL!….I have none, I rely on you guys! 🙂
     Seriously, I am learning more and more how to read charts, all what I’ve learned from here, Rambus and all.
     This is what I see so far……
     BALMF has had a great run up and needed a breather. If I see it right it’s still just above some of the averages.
     I don’t know how to draw necklines, support or anything else.

     As I keep reiterating, I own about 50 gold and silver stocks as a hedge with the idea that there will be some winners and some losers.
     But in the long run in a bull market, most all boats will float.
     I do however have Spock to say what he sees regarding selling of his and I hope Plunger will alerts us about his.
     Most of my stocks are theirs.

     If I see some of there go parabolic I may ask what others see, but by far my biggest problem over the year has been selling!!!!
     I need to CURE that fear and greed syndrome!

     • Karl says:

       January 3, 2020 - 6:20 pm at 6:20 pm

       > I’m with Simon (I think) in the implication of his question.

       Consider (here I might diverge from Simon) the possibility that you might even have been studying other people’s opinions of charts TOO MUCH to read charts optimally. They may be missing things that you would see if only you weren’t blinded by their opinions and error. (If someone hadn’t made off with my copy of Emerson’s major works I’d probably be quoting from Self Reliance here.)

       It might be good to do the charts yourself. You might well find that you do them better than they, at least some of the time.

       As a more radical experiment consider looking at the charts without the superimposed lines and all the other stuff (squiggly lines) down below, at the very least before you contaminate the charts with that stuff.

       > I haven’t looked at Balmoral’s chart carefully for almost a week. I looked at weekly and daily charts cursorily (along with several dozen other charts) several times in the past several week and recall myself having jotted down my abbreviations for “too high too fast” “too fast too high” or “too high” etc along with a high number rating for good looking chart. The too high/fast stuff (I won’t belabor you with details of what provokes me to put down which) has to do with distance above Bollinger bands and to a lesser extent above moving averages. With the pullback it might be fine now. I’d probably prefer it to move approximately in parallel with or at a steeper positive slope than that moving average, or something to that effect. But I haven’t looked since last weekend or Monday.

       If I glance at that particular chart you show it looks just superb. I personally think that lots of the emphasis on squiggly lines and superimposed lines people indulge in are often close to pure garbage, angels on a pinhead sort of thing. I spent years taking data putting it on spreadsheets and doing statistical analysis and projecting probabilities of where it goes. In my opinion a glance — not well focused is probably ideal — has many advantages. A blurry glance somewhat mimics chance, probability, the likelihood of trends without certainty.

       Where’s it going now? Up.

       Up means up. Does it have to continue to go up? No. It can go down. Some of the squiggly line crap indicates it might not. If you’re a newsletter writer you can write paragraphs on that. I’m verbose enough that I could write books on it. I do look at that stuff myself and use it, but you probably can figure out how to use that squiggly line stuff better than I and any number of people who write about it professionally. Even better, if you have time, create your own oscillators. If you look up some of the standard oscillators or other squiggly line crap you will find that they are not necessarily put together particularly well. To the extent that the pros in the big investment houses and their AI use TA I doubt they use some of the crap that gets used by the public. So if you have time, invent your own.

       • Steins1 says:

         January 3, 2020 - 6:46 pm at 6:46 pm

         LOL!!! Karl you are killing me!!! I’m a custom woodworker and play sports. So I have to wing it most of the time.
         My general strategy for now is the PM market looks to be in a bull market and should float most of the boats.
         Individual stocks I’ll deal with them the best I can.

         The one thing you did point out is looking with a glance…..In sports, to try to be in the “zone” you clear your mind and just focus on the ball. You breath and stay relaxed, don’t think, just react.
         As the Buddhists say, “The thinking mind is the source of all our suffering.”

         So I’ll try taking a focused, blurry view of the stock charts. 🙂

         • Karl says:

           January 4, 2020 - 5:12 am at 5:12 am

           I just did the experiment myself entering CA:BAR into bigcharts:com (I haven’t registered with stockcharts), looking at it all data (from before 2000), 1 decade, 5 years, 3 years, 1 year, 3 months, 10 days. (With bigcharts you can use “daily” for all of them except 10 days, where it won’t work–I switched to “hourly” for that).

           I saw a story revealed in ~30 seconds. I suspect I saw at least 75% if not 95% as much as I would have gotten if I had spent 45 minutes or more looking in greater detail. Someone else might have done better looking in greater detail with all the lines. I don’t know.

           I am, by the way, reminded of a quotation I half-remember from one of Jack Schwager’s books from an early (late 1700s) Japanese technical analyst, approximately as follows: “Listen to what the markets are saying and you too will become a fearsome market demon.” Sometimes too much analysis distracts too much, and I probably do it too much myself.