Wednesday, July 30, 2008

IBD buy signal

I am short BVN. Target price 25.

Saturday, July 26, 2008

Nevada and California Banks Fail

Two more banks fail; FDIC sells deposits
Mutual of Omaha Bank takes over accounts of California, Nevada lenders. Watching this financial collapse is like watching an ice cube melt--slow at first and then accelerating. The FDIC used 10% of its reserves to bail out Indymac. See this link.

Friday, July 25, 2008


Thursday, July 24, 2008


Will the $Trans confirm with a lower close??

Bank Stocks Plunge--Sell Gold and Gold Stocks

Although I remain long term (2-5years) Bullish on Gold and PM stocks with the break in support yesterday I forecast gold correcting to $730 and then another rally to $1000. I also think oil stocks will correct.

Preserving capital during these difficult periods should take on a higher priority than trying to maximize upside profits.

Sunday, July 20, 2008

More Bank Failures? Bearish Forecast for Oil

Oil is bearish and I forecast $100 oil in 6 months.

Point and figure chart turns bullish for banks. Is this an important market turn?

The Treasury Secretary warned today of more possible bank failures. I look for gold to be over $2000 by 2010. Junior mining stocks should start to rally after September.

Monday, July 14, 2008


Despite government bailout broad market stocks fail to rally. Will we see a 30's style crash???
This is the second year for this blog. Please review earlier posts for gold stock timing models. I remain Bullish for gold stocks but bearish for the broad market. It is getting very very dangerous out there.

Sunday, July 13, 2008


I am still on the fence on copper stocks--once the financial wipeout seems finished I would like to buy Southern Copper. Right now it will remain on my watch list. I still hold FCX.

Tuesday, July 8, 2008


IBD and MER remain bearish despite today's rally. big selloff today in commodities. If $copper point and figure turns bearish I will sell my FCX stock holdings.

Sunday, July 6, 2008

The -K- Ratio and timing gold stock buys

Tuesday, July 1, 2008

$HUI Indicator

This precious metals stock rally has more to run--good chart to time the gold stocks.
from public charts Joe K. Reed