Don’t Bungle the Burgle, Bilbo!
_____________________________________________________
Silver is quickening again and the dollar is drooping…
I remain, however, unconvinced that this was the only shaking we are going to get. Attend to me now. I do not recommend selling anything more in egregious fashion. Your selling should be all but done, as mine is, unless you’ve got an IRS-man’s butcher bill to pay this Friday, which I certainly do. In that case, you are forgiven for converting more silver-gold shekels into dirty unwashed lettuce.
The question remains, however, should we be buying again here? Is the coast clear? I’m sorry but I cannot warrant it. Things seem a bit too quiet if you know what I mean. And the symmetry of the cycles argues for a more pronounced drop in some of our more parabolic names… Take EXK for example:
Yes, we opened up above that green line, and even managed to stay above it, despite the lower closing black candle. But such a weakling day bodes ill for the future, even with a strengthening silver price. No, the clockwork of the universe demands a finer symmetry, and I believe that means we move to at least our 20-day EMA, which, in flattening, may bring us to our rising support line in the $10.00-10.50 area.
The feasting will be sweet there.
And there is another treasure I seek, with my arrows aimed at lower levels than we achieved today. That valued asset would be the damned elusive AG — which has plagued me since the mid-teens when I first laid traps to ensnare it. I’ve never owned it… preferring instead to hunt it with stealth at various tepid water-holes. Only raising my poisoned blow gun once… twice…. and now again:
Now this stock in particular is known for showing me the fool (as I haven’t caught it yet), and it very well could be showing a significant reversal here today from which it will never turn back. I’m just not sure of it, given the state of the dollar (seeking a rebound soon, I think) and the relative torpor recently evidenced in the price of gold.
My price is a little above the 50-day EMA on this one. I hope to snare some, but if not, God speed, and happy burgling.
______________________
Comments »