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I’ve been abominably busy and there’s just no accounting for it. You’ll just have to put up with my ghostlike presence as I H.A.L.O.-parachute in with various recs from the troposphere.
The good news is, nothing is going on that hasn’t been anticipated for some time. You might be at the opera, you might be at the symphony, you might simply be out at the soda jerk’s enjoying a nice sasparilla with your best girl, Friday, but you haven’t missed a thing.
You’re right in the middle of it, so it’s time to lay down your knitting needles and Persian cat, and lookee here at these six charts of wonder. They are all in the weekly format, so you know there’s “no bullshit” gumming anything up, making you lose your nerve.
If I’m you, I’m relaxing right here. I’m not you, and I can’t relax due to my manic tendencies, but don’t feel bad, it keeps my weight down in the winter. I’m relaxing and I’m letting the market come to me. If I’m you, I mean. “Come to me” is code for “wait for the 13-week EMA touch” — especially on these balenes of beauty.
First two LED stocks. “WTF!?” you say to yourself.
WTF, indeud. Come on ovah heah and check out “Elvis” the King — Cree, Inc. [[CREE]] first. Behold!
And his LED brother, from Ghostbusters II — Veeco Instruments Inc. [[VECO]]– almost as purty !
Now those are some pretty formations, no? Can you say “simpleton easy?” Good, good. Now look at my other friends. My favorite goldie Allied Nevada Gold Corp. [[ANV]] is first:
And who could forget my enormous EGO— Eldorado Gold Corporation (USA) [[EGO]] ? Another weekly wonder:
One more golden gate to my heart, is the appropriately named IAMGOLD Corporation (USA) [[IAG]] :
And last but not least, the “Stock of the Year” –Silver Wheaton Corp. (USA) [[SLW]] — a silver stallion that will outlast them all:
Repair more to your weekly charts for comfort, my droogs. Remember “13-week EMA” on these high fliers, and let not the shadow of Zul darken your hearts.
Quanza.
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CREE – on the daily, waiting for ‘the hammer’. Would you liken your 13 week to the 50 day? Been busy as well.
Generally, you want to multiply the week number by five (trading) days, so you are talking more like a 65-day EMA.
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Doh.
We might be getting that second leg up in the dollar you were talking about any day now. UUP at 50% retracement AND sitting on the 50-day MA. That’ usually a combo that will provide a lot of support.
Nice observation, but I’ve found 50% lines are not very strong in the past. Could get a bounce, though.
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Or not… this market’s going schizo. The buy-the-dips thesis continues to hold.
Started CREE… 57.72 (1k)
Added 2k SLW @ 16 sebenty something.
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Bot 2k VECO starter, @ $34, end o’ day-style.
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Dude,
CREE is my numero uno pick, and a long term hold since I bought it last october at 20. Check out AIXG in that space, too, ein deutsche spiel.
bis spater
Yeah, Fly was mentioning AIXG as well in the PPT. I just didn’t like that weekly chart as much as I liked the other two — in fact, it struck me as “toppy.”
What are your thoughts on Veeco?
I don’t know VECO. But CREE is the only pure play in LED, if I remember correctly.
AIXG has pulled back a bit in the past few days. down about 10%. My window on it is 2-3 years, but I agree that it’s a much better buy around 20-25.
You can check that I’ve mentioned CREE on this site before. However, I can say that a 200% doesn’t need to correct.
Rather, I meant to say “I cannot say that a 200% move doesn’t need to correct.” I.e., I’m not adding up here. Maybe it’ll continue to move up, but the risks are high. I’d wait for a correction.
Yes, it’s corrected to the 13 week MA twice in the last six or so months. I like that as a target to back up the truck.
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I like that too. I want to buy some for my ROTH and forget about it.
Thats funny, I randomly bought some VECO near the close right around 34 today too (been watching it since the low-20s). Good luck to you, sir!
Both Veeco and Cree have been annoying me for months, as I keep checking on them looking for “the right time to buy.”
Fact is, when you see charts like that, you just buy and fughedaboutit.
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