Courtesy of Read the Ticker.
Energy builds up during a long slow sideways pattern which allow money managers to accumulate or distribute float, very soon either the demand or supply side is going to get knocked out. Soon we well have a winner! Both the moving averages and Gann angles show the tight APEX, a break out either way will happen. Our bias is to the upside.
If you review a hand full of gold stocks (say ABX, NEM, GG, HMY) you can see higher lows, and consolidations tightening after a period of volatility, this means those that wish to sell from the recent rally have done so, there done! Now the time for the next move is very near. The good news is that most big money managers missed the 2016 rally, and they are getting ready for the next move higher (we believe).
The commodity (gold) is bullish, the stock sector (gold stocks) is bullish. This means the money is moving in, setting up for a move higher.
tic tic boom!
Gann Angles
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Moving Averages
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Investing Quote…
..”Don’t take action with a trade until the market, itself, confirms your opinion. Being a little late in a trade is insurance that your opinion is correct. In other words, don’t be an impatient trader”…
Jesse Livermore
…..“I measure what’s going on, and I adapt to it. I try to get my ego out of the way. The market is smarter than I am so I bend.”..
Martin Zweig
..”If past history was all there was to the game, the richest people would be librarians”..
Warren Buffett
..The time of maximum pessimism is the best time to buy and the time of maximum optimism is the best time to sell”..
John Templeton
Unless you can watch your stock holding decline by 50 per cent without becoming panic stricken, you should not be in the stock market.
Warren Buffett
