Wednesday, July 25, 2007

Charts Of Interest



Yesterday the entire oil complex sold off, but today Crude Oil bounced back with a powerful rally.




If you read my previous post you would know that I exited my long Gold position today. Looking at the above chart of Silver, it's very tempting to short this metal.
Looks like SLV is putting in a lower high.




Bonds continue to rally making a new high for the month today. Back in June I was looking for bonds to rally into August and it looks like that's exactly what we are seeing.





The Shanghai index is about to breakout. I have a feeling this market is about to explode.



Support holds in the Dow Jones Industrials

5 comments:

Gary said...

Kevin,
I would ignore the charts on silver. The market is way too thin to trade conventionally. Pay attention to gold. Silver will follow gold. Gold is making higher highs and higher lows. Both have bounced off the 50 week moving average. That has been support through out the entire secular bull market. Also gold had an extreme bullish reading on the COT several weeks ago. Both are just short term over bought and need to work off a little of that condition. Investors who try to trade these markets will probably end up not making much. The people who can accumulate and hold on will end up being rich when this bull finally tops out. The last PM bull gained over 2000% this one will do much better than that IMO. So far silver and gold are only up about 300% from the low. We have a long long way to go. If you can be patient the rewards will be incredible. The reward on AAPL would have been very nice also if you could have been patient.

Rule #1 cut your losers short and let your winners run.

Kevin said...

Thanks gary but AAPL is trading just about where I got out.

I agree with you about letting profits run, but I think the metals may pullback a little here.

I also checked out your blog....very nice.

Gary said...

I thought you said your profit target was 136. AAPl is at about $150 isn't it. I believe I mentioned that the consolidation pattern was kind of suggesting a move to around $155.

Kevin said...

Yes Gary...I got out at 136.25...AAPL closed today at 137.26 today.

sk said...

Hey Keving very interesting chart on Shanghai Composite. Any idea how to play that market? I don't think FXI is a good representative. Only CAF comes to my mind for now.

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