Chart of The Day

We are in GLD in the Managed Accts. along w/ GDX (Gold Miners).  The GDX chart looks better so let’s focus on the GLD chart instead.

A trend line and support would meet in the area of 118.50.  You could bail just below that level and no lower than 117 in the event that this is a sloppy triple top (see circles on chart) pattern.

You can always jump back in if it was to just barley hit your stop and then trades up through 122 (resistance) again.

I might be going dark tomorrow, but I’m sure I’ll have a Chart of The Day this weekend.

See you then.

– Doug

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Quote of the Day

“Action makes more fortune than caution.”
Luc DeClapiers
1715-1747, Essayist

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Quote of the Day

Trading is a lot like getting the girl.  The harder you try the more you fail.  But when you’re confident and you don’t care, she’ll come to you.

-Anonymous

Chart of The Day

Below is a daily chart of Coke.  Support on a daily and weekly chart is within our 7% rule at 50.

It has yet to recapture the 50 day and 200 day moving average.  It is trading above the 20 day.

If it goes you should see some selling at 54 which is resistance and the 200 day.

The market held up nicely today after yesterdays big move w/ volume.

See you Thursday.

– Doug

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Chart of The Day

The Dow closed today above  resistance of 10,250 with an increase in volume.  The SPX closed above 1103 with OK volume.  The Nasdaq volume had the largest move of the three.

An increase in price and volume is the ticket.

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Welcome fellow traders and investors!

As Money Managers and Traders, the mission of our Blog and Radio Show is to go on record and further educate our readers and listeners in technical analysis and proper money management across all asset classes.

Our methods are not the traditional advice you hear repeated and repackaged over and over again, but that’s exactly the point and the reason why we know how to advance and prosper in every kind of market.

To Your Success,

Doug & Gary