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Thank you for subscribing to Thirdeyeopentrades! We present weekly trading ideas for swing traders with
charts and brief commentary designed to help save you the precious time it takes in researching good
ideas. We dont claim to know where the stocks are going but simply speculate, based upon chart setups,
where they may be likely to go. You need to do your own fundamental and technical research for each idea
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I'm thinking that gold stocks may roughly follow this labeled pathway over the next few months.
There's a possibility that the HUI could see 300 by May.
The HUI at 300 is no big deal considering how far it has fallen. It will reach a resistance area
from 2006-2007 near that level and it may take a good deal of time to chew thru it.
But let's not get ahead of ourselves speculating wildly. We'll take it step by step.
This monthly chart has officially registered a buy signal. All technical indicators are in perfect
alignment for a new cyclical bull market. So far, so good.
Remember, a "buy" signal is a signal. It's not a command. It's up to each individual reader to
figure out what to do or not do. I'm not telling anyone to buy or sell anything. These are simply
observations based on personally trading this market for over a decade.
There certainly is risk that I'm wrong. The bullish percent indicator is overbought. The MACD is
in nosebleed territory.
Again, I could be wrong. The market looks bullish yet this chart tries to smash that hypothesis.
You've been warned.
I did load the wagons, though.
I see a flag in gold and am guessing Thursday was a 4th wave pivot low.
This was the last A-Rise in gold's previous cyclical bull market off the bottom in 2008. I think
gold has further to go and that this A-Rise is only half over, contrary to the Adens having labeled
a B-decline in progress.
I disagree with them. It's not the first time and won't be the last.
Just about everyone has missed the train. It's rolling northward while folks remain on the train
platform waiting for lower prices which are not coming.
Not coming. No way. Look at that chart. Tell me, you see lower prices?
Come on.
I met with a friend today. He asked me what I thought. I told him the train has left the station. He
said he was waiting for CEF to fall another 10% before committing hundreds of thousands.
I texted him later..."Gold up 23 bucks".
Silence.
He has missed his chance. That is what a bull market does.
"Bull markets don't let you in, bear markets don't let you out". -Thirdeyeopentrades
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I'm crazy-assed for leverage. Otherwise, this looks like a good ETF to be long. Nice flag.
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The S&P 500 Index looks vulnerable. Thirdeyeopentrades issued a Bear Market Warning on
January 11th.
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This looks like the gap will test. Price closed right on support Friday. The market feels heavy
here.
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The Thirdeyeopentrades Bull-Bear market model remains on bull but that monthly price tag
shouts "TOP".
Nineteen-o-five (1905) better hold or else Thirdeyeopentrades will issue a stronger bear market
warning.
Once the 10 month EMA crosses down thru the 12 month EMA the warning(s) will be lifted and
a Bear Market will be born yet again.
Let's see the FOMC dig itself out of that with ZIRP.
Bloody fools. Limitless credit card limit. Part time job country. GenY can't even muster up
contributions to retirement plans. Nobody owns gold.
Fools.
Figure out what your stop is this weekend if you haven't given it any thought yet. The gravy train
is running out of gravy.
The chickens come home to roost. The Piper will be paid, just a matter of time. It's still a bull
market, though. Cracks have appeared and I'm pointing it out.
What is YOUR line in the sand??
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There are the support moving averages for each market. Need to see reversals off those, folks.
Otherwise, stock up on toilet paper - you may need it.
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I know the newsletter is redundant each week. I'm trying to help you keep from frying your ass.
This is another model that works well. Once the 40 week exponential moving average crosses
down thru the 50 week EMA, it's a bear folks.
The S&P 500 is probably going to head into 1905 within the next month or two. That's my guess.
There was a LOT of volume at the 1820 swing low, so even that may test by October.
In the meantime throughout this year, we'll keep a Thirdeye on things each week for you.
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Pattern repetition and pattern recognition. That's how my brain is wired. I see repetition.
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When someone says the S&P 500 is at new highs, tell them bullshit. You have my permission.
Explain to them what it mean to inflation adjust a nominal price.
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Yep, silver got whacked. But, it's recovering. Money flow is improving.
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Silver's daily chart looks good. It gets little respect. Off new cyclical bull market lows it will
amaze you with its percentage move. It lags gold, the majority of the percentage move comes late
in the cycle.
It found support at the rising 40 day simple moving average.
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http://www.gold-eagle.com/article/gold-cot-report-flashes-yellow-flag
Some folks are real concerned about the commercial short position. I think gold will reach higher
than folks think.
I'm leaning toward $1340-1380 before there's a problem and we see gold react back into its 65
week EMA.
We'll see.
Look at the BIG PICTURE forward a couple years....
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We'll see.
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The Point & Figure chart for gold projects $1570, shy of my $1800 target by quite a bit.
As for next week, be cautious. The general markets look vulnerable. The gold stocks bullish
percent index is quite high. But I think we'll see the gold stocks move higher despite that.
But, we'll see. Have a great week. That's all I can do as I seem to have developed some carpal
tunnel in my right wrist and it hurts a lot to type and click any more this morning.
Cheers!
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