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Most charts I follow have very topping action Stochastics are posed to turn down on almost all.the only real signal down was from Adv/deline ratio 1 day ago ,then popped up ….very dangerous market .Gold & Silver seem to have found a bottom 50% from previous moves ,but have not got “BUY” signals yet .appears to be very close,but I don’t trust it ! SLW seems to be 50% from past range,but it looks like a false rally to me ! Maybe Im getting paranoid !Im back in cash from recent trades .I got in shipping for a profitable trade,but it now looks like its over! I got into smith& wesson on a buy signal wich went nowhere close dit at a $50.00 profit .My thinking was No ammunation sales for about a year avaible at retail stores .Now that prices have doubled stores this week have truckloads especially at Walmart.Manufactures must have sold plenty to retailers at double prices ,but the Stock gave a buy signal,then went no where .Maybe it’ll show up on next quarter but with a seasonal chart like posted ,Im not hanging around.Bought a stock called veolia ve on a strong buy signal..made some profit ,but some weird tardes occuring ..looks like Painting the TAPE ,so I bailed with a profit,maybe too soon but ditto for the Seasonal chart .I,m usually very patient waiting for trends to develop,but not here! I run like a jack rabbit at the first sign down…
What really makes me nervous is the Mafia chief money manager Michael F ..says he dosent trust Wall st with his money after doing some business with them .He,s only in Gold bullion from here ! Holy cow ! it scares him who managed billions per month ! He’s the only mafia chief still alive of 50 ,47 are dead 2 in jail ,that leaves him and he thinks theres a contract out on him .I doubt it ,cause he’s too good at money making to do away with ! Financial genius.
If Michael is scared of this market maybe I should be too !