The price of oil looks to be headed for the 1×4 angle near 50.
The chart of Gold should be watched for a bounce as price is near the 1×2 Gann angle. The 50% price retrace is also near the level of the 1×2 angle.
Charts courtesy of Stockcharts.com
Tags: Energy · Gann Angle Fan · Gold4 Comments
4 responses so far ↓
Oh my Goodness, I woke up to my Rally!, I wasa day early….That damn full moon worked again Andy, ya just gotta love it. The Tsunami came back to America…..tides in tides out, now don’t get your dandruff up everyone, give this move a few days, yep you can get your little toe wet, but don’t jump in unless you know what your buying is just so overwelming saying buy me, on the charts, of course I had several that said that too me Wed. got my toe burned off Yesterday, but today the fire was put out to even status, I woke up at 3:50 way too late to jump in a little more, now we just search for the best of the best, gotta have some volume to them too. ? is did we bottom in the 5th wave, or was it just the D wave of the 4th wave that broke the bottom of the triangle to make new lows….hummmm you guys get to chat it all out, sure makes you feel better to see some Green huh Fred…… Smile, we live to trade another day!. thats what life is really about Fred, even if the NYSE was not on this earth, we would keep on ticking with or with out it ….. Hey Fred, I can’t remember what day it was several weeks ago, even Andy said to me after one of my blogs I ended it with Happy Trading everyone! He responded by saying, something like How can it be Happy trading, who can be happy when this is happening, something like that…..I told him how we’ve all taken a hit, even me miss Happy, I remember how I was after 2000, I wanted to jump, you know what I mean, I had been an early bird on Msft, made alot of $, sold 98% if it, bought every dot com and was making a killing fred…remember it was all on paper, in my head, and not real green stamps in my hand, it was all gone, Fred in a matter of a year, I was toast my whole body burnt to a crisp, my mental status was shocked, I was well, can’t say the word Andy would delete it….LOL! I still worked everyday, but couldn’t believe what had happened in just milliseconds, seconds, minutes, hours , days , it will come back, Nope it didn’t, all the little dot coms went belly up, I was heavy into Lucent, several others, gone Portfolio went from Ying to yang….I went to work. still happy to have the $ in my pocket. We’ve all felt that way at sometime in our life, Hi gh from addrenaline, thought our Sh-t didn’t stink invensible, LOL! Well, thats how deep it felt when I realized what a horrible trader I was…so I quit, and I bought everybook that I could afford, studied instead of pouting over all the spilt milk, you gotta remember or maybe you don’t fred that a few thousand dollars back in the 80’s made many a person millionaires, me included if you caught the wave, but we didn’t have a clue on how to manage our portfolios, take some profits, move it into some Dogs, and then put some back for a rainy day, we where young dumb and full of Adrenaline(yep that too), I had friends that went from driving 69 chevys to driving the finest of Mercedes, bought fancy homes, and went totally belly up after all was said and done. I just went to work. Happy I had not quit my job, now of 23 years, and felt lucky and Happy…..that I had not jumped. Now, I work hard, make a little put it back for the rainy days, and you could ask all my friends what do I drive, a beeter, in 85 I drove my 68 mustang, floor pans falling out, and everyone laughed at me. I had the whole car restored from the tip to bottom, and kept driving her till my nephew graduated from school, had it restored again for him, gave it to him for all his hard work, on graduation. I now drive a 95 nissan truck, 5spd, yes its 14 years old, I go to work, floor pans about to fall out again, no I will not restore the truck…LOL! Smile everyone…We are Green again!!!!!!!!!!!!!!!!!!!!! Have a super night…..especially you Fred…I have to go to work….wish I could see the full moon but we are getting rain again…. “Andy” take the kids for a walk…..and talk…..later everyone….Oh forgot, check out BX, and double on DXO(Oil ) small stocks to get your toes wet with, make a little jump out….later…
It’s amazing how much one good reversal day can remove the gloom and doom hanging around like a dark cloud. Today I noticed TLT drop a large amount out of it’s general character at 2 pm while the general market started to move up only a slight amount at that time. TLT was a tip off for me and when the market confirmed the move by continuing up I took some positions. I’ve noticed TLT moves inverse to the market, but often leads it. Maybe I’m wrong, but it seems to happen often eough that I will continue to watch it. I look forward to Andy’s comments and wonder if he ever charted TLT? I also drive a beater, Libby. I have no desire to spend on luxuries or buy items to impress others. I also do not live in a large house. However, I am on a peninslula and have a beautiful lakefront view from both front and back of the house. I viewed the sunset over the lake in the front today and later noticed a full moon over the lake in back. Outstanding. What more could I ask for? Well, a continuation up for the market maybe. Maybe even more than three days??
Next week’s turning dates cluster
Nov 19th - Tim Bost’s astro aspects
Nov 20th - McHugh’s phi mate
Nov 21 - Gann 405 days since Oct 07 top
Apropos music -
http://www.youtube.com/watch?v=cGqroT1FZ5Y
http://www.youtube.com/watch?v=yjnvSQuv-H4
http://www.youtube.com/watch?v=jHPOzQzk9Qo&NR=1