Courtesy of Read the Ticker.
Our readtheticker.com RTTSteps indicator shows when a symbol may be getting wider support from the composite man!Lift off!
With silver (SLV etf) you can see STEP 1 looks like a successful build, rally in to start the build of the step, a correction that did not break the step, this means price is supported by the wider market.
This is one to watch as steps build higher.
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Why, well consider this bubble warning fro Mike Maloney
NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net
Investing Quote…
..”TIME is the most important factor in determining market movements and by studying the past records of the averages or individual stocks you will be able to prove for yourself that history does repeat and that by knowing the past you can tell the future. … There is a definite relation between TIME and PRICE. … Now, by a study of the TIME PERIODS and TIME CYCLES you will learn why tops and bottoms are found at certain times and why Resistance Levels are so strong at certain times and bottoms and tops hold around them. … The most money is made when fast moves and extreme fluctuations occur at the end of major cycles.” ..
William D Gann
..“It is much harder to sell stocks correctly than to buy them correctly.” Because of the emotional aspect of trading, if a “stock went up, the average investor would hold because he wants more gains – he’s exhibiting greed. If the stock declines, he also holds on and hopes the stock will come back so he can at least sell and break even – he’s hoping against hope”..
Bernard Baruch
..”If past history was all there was to the game, the richest people would be librarians”..
Warren Buffett
Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas.
Nobel Laureate for Economics Paul Samuelson
..“Successful speculation requires staying on top of changes in industries and companies that either create new industries or improve on existing industries. The majority of your profits will come from these two … The shrewdest traders throughout history all adapted the skill of reactionary change, as the market constantly presents new and different opportunities.”..
Bernard Baruch
