Tuesday, July 01, 2008

The Case for Gold


Stock Pick


Break-Out Day (July 1st) Volume

A

16 comments:

Anonymous said...

Hi Allan,

On the weekly chart, it seems a break and close above 4 seems important, but on the daily chart you have a horizontal line at 3.7 or so as the important break point. Do you have a preference, and would it be too late to chase the stock?

Your use of weekly charts is close to Eric Muathe's - do you still follow his system and break outs?

Thanks for your great work
John

Allan said...

John, I like weekly charts for all trades that I intend to hold overnight, but sometimes if the Weekly is ambiguous, I use the Daily to clarify.

As for Muathe, I still like Eric and his site and recommend it to all, but his analysis and mine differ in that he uses a lot of variables, indicators, oscillators, whereas I keep things much simpler. "The Case for Gold" was made without a complete sentence in the entire blog, just a few charts and trend lines.

A

Susan said...

Hi Allan,

I've been following your blog for a few weeks now and I'm blown away with your accuracy - amazing, and I'm most appreciative.

I actually put in a market order for VGZ last night, as I was fortunate enough to see your post before I went to sleep. But it executed at a very high price, higher than the day high. I realize that's a problem between me and my broker, but I wanted to ask you what you think the prospects are for VGZ today?

Learned my lesson...will put in a limit order next time and if it doesn't catch it, oh well.

Allan said...

Susan, I bought my first VGZ shares near the Open today, then bought some more as it started to rally. I think VGZ is at least a double by Labor Day, so don't sweat your entry.

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susan said...

Thanks so much Allan!

met61 said...

Allan,your breakouts work out a lot better than mine.Do you feel using the weekly charts give you an edge?
Thanks,Ron

Allan said...

Ron, weekly charts and volume work for me, the weekly bars and trend lines allow for only major breakouts to be triggered.

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Anonymous said...

Allan, still follow FRG big move today.Is 6 a B/O

Allan said...

Yes, FRG is approaching break-out levels on all time frames, heavy volume, strong price movement, this could be the beginning of a huge move back up. Will monitor situation.

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met61 said...

Allan,STZ looks like a buy above 20.Any thoughts?
Thanks,Ron

Allan said...

STZ? There are many better looking charts around, plus, revenues are down 22% quarter to quarter, so no confirmatory fundamentals. Sorry, Ron, gotta call them as I see them.

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met61 said...

Allan,thanks for your input.I am trying to come up with something that you would buy.How about ACN breaking through 42? Fundamentals are much better on this company.
Ron

Charlie said...

Hello Allan-

firt and the foremost, fantastic calls on stocks. i'm glad that i found your blog. a reference in David Gordon's blog brought me here. i'm very much keen on reading through the archives.

i use rising macd to create stock watchlist. most of the time the list is so overwhelming that i get
lost.

how do you manange your stock selection? do you technical scan to create a watchlist and then go through each chart for confirmation? how do you trim your
stock list.

best,
Charlie

p.s: i'm going to come here frequently.
how do you manage your stock selection? do you

Allan said...

Ron: Re: ACN A lot of resistance between 42 and 43, would have to clear those levels convincingly and with volume;

Charlie:how do you manange your stock selection? Typically a story stock, or story sector grabs my interest first, then confirmation from charts, usually weekly........otherwise, too much work scanning hundreds of inconsequential stocks.

A

charlie said...

hi-

thank you for the reply.

do you use paid subscription for
the stories, any suggestions?

best,
Charlie

Anonymous said...

Allan: have you found any place in particular that has a good listing of story stocks? I'm trying to find out how one determines what the in stories are and who the main story tellers are.

Thanks,

Matthew