"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10

Wednesday, June 2, 2010

Gold stock booster?

Well yes, given that these are the only stocks on which I am bullish in an intermediate term time frame. But here is another really bearish looking chart of an NFTRH trader - not to be invested in due to management's penchant for OPUD (over promise, under deliver). Most recently, I had bought the pain in JAG but upon further review, think I will just say thank you for a small profit and skulk away for the time being.

This 'portrait' view of the chart really accentuates the H&Sie looking pattern and quite frankly, it repelled me immediately upon viewing it.

I like these portrait views and plan to use them a bit more often. The pattern is all scrunched up and more striking than on the really wide charts I usually use. Right now I have no problem holding the investment gold stocks and awaiting further investment/long term trading opportunities. But for anything else, I will shoot first and suffer any regret - if applicable - later.

This is how I manage portfolios by and large; traders, holders, a lot of common sense and also a spattering of nonsensical activity (in hindsight) as well, which is why I do not stock pick for people or recommend anyone do what I do. We get the macro right, pick some good assets and equities and we be fine.