Snippets from:
www.thegoldandoilguy.com

If this is the beginning of a new downtrend, then the action to look for is a rally in the Dow Industrials (Symbol: INDU) back up to 10,500, followed by a break back below 10,200.


Silver SLV ETF Trading
Silver has a funky looking chart. It has formed a large megaphone pattern and possible head & shoulders pattern. Both are bearish and if we use the Head & Shoulders to calculate where silver could end up trading if it continues to break down, then $14.00 would be a level to look for a bounce.

Natural Gas UNG Fund
The natural gas fund UNG has been in a down trend for over a year and the recent drop looks to be the start of another sell off. This could possibly form a reverse head & shoulders pattern with this drop moving UNG down to the $8.75 – $9.00 area. We will have to wait and watch things unfold for now.

Precious metals do look oversold and ready for a small bounce or sideways move; I do think they will head lower. Too many traders are still holding on to their gold positions and until a large number of them get scared out of their positions, we will not see gold rocket higher.


*This is not an endorsement of any of these securities, nor is it intended as investment advice, but rather mentioned as worthy of educational pursuit and follow up.

Click read more to see chart.

PowerShares DB US Dollar Index Bullish (UUP) is traiding just sighlty above the 150 Day moving average. Very Interesting.
See chart: Click here

Not suitable for all investors, not suitable for all portfolios. No guarantee of future performance. Discuss with an investment professional before considering investing.

In recent interviews and documentaries the following symbols came up as noteworthy of examination for two reasons:
1. The knowledge and credibility of the person being interviewed.
2.The Frequency of which they were mentioned lately.

This is not an endorsement of any of these securities, nor is it intended as investment advice, but rather mentioned as worthy of educational pursuit and follow up.

TGLDX
UNWPX
USERX
GG
ABX
KCG
GRS
INO
FXE
GG
IAG KGC
SLW

When I am long of stocks it is because my reading of conditions has made me bullish. But you find many people, reputed to be intelligent, who are bullish because they have stocks. I do not allow my possessions - or my prepossessions either – to do any thinking for me. That is why I repeat that I never argue with the tape.

Jesse Livermore

People are always blaming their circumstances for what they are. I don't believe in circumstances. The people who get on in the world are the people who get up and look for the circumstances they want, and if they can't find them, make them.

George Bernard Shaw

My satisfaction always came from beating the market, solving the puzzle. The money was the reward, but it was not the main reason I loved the market. The stock market is the greatest, most complex puzzle ever invented – and it pays the biggest jackpot….it was never the money that drove me. It was the game, solving the puzzle, beating the market that had confused and confounded the greatest minds in history. For me, that passion, the juice, the exhilaration was in beating the game, a game that was a living dynamic riddle, a conundrum to everyone who speculated on Wall Street.

Jesse Livermore