there are moments nanoseconds when the market is in a trend , where it may be easy , the rest of the time is mental deliberations. after 40 yrs of doing this for my living, i hardly ever find this easy!!! you look at 07 i look at 78 w/a similar set up to today. the july low being lower than the may low, similar to 78 november low being lower than it s previous low. anyway they dont give money away , this is a tough biz. i havent met any one who even bats 50% winners. so money management skills must be employed
this is a resistance zone in here. which could take some time to plow through. my feeling is physical demand has been firm. but no way to substantiate that claim
on another note
mcewen retired from gg in 05 the company was riding a high due to his exploits. by 07 the fat was on the bone and the company was hardly lean and mean. the management wasted money in around 15 the company woke up and found its greatness was in the past. they went on 20/20/20 program to increase their production, increase their reserves, and cut costs. they have performed poorly, BUT now the company appears to be ready to perform. the latest decline from the fed highs has formed a channel, breaking above that downtrend line is a signal the stock is ready to perform . due your own dd. no advice given
its early in this advance for me, to conclude anything. it needs more time to take shape. what is known is the seasonals are bottoming, and indian buying has resumed. their may buys were officially 220 tonnes. not counting black market buying. that is an impressive amount of buying. so diwali buying will begin soon and they are back in the market after gst tax announcement. i am on alert taking it one day at a time. sabina is performing well
July 18, 2017dharma
