The Leaders Are....
#1
Posted 03 April 2007 - 11:59 AM
#2
Posted 03 April 2007 - 12:07 PM
Can it be this easy?
No, it can't be that easy. OIH should begin a severe downtrend starting in a few days. I will post, if the setup materializes. I am waiting for confirmation.
#3
Posted 03 April 2007 - 12:14 PM
#4
Posted 03 April 2007 - 12:38 PM
NAV, why are you bearish on OIH?
Denleo
Denleo,
Not anything based on fundamentals. My daily indicators are diverging miserably as we are approaching the 151 resistance, which is not a good sign. My weekly indicators have also started rolling over. Only a weekly close above 151 would be bullish here. Otherwise, i am getting ready to short this sucker (pretty soon).
#5
Posted 03 April 2007 - 12:38 PM
Tim, agreed, and the above chart is one thing that's been getting increasingly bullish IMO. There has been a pretty good periodicity of lows every 3-4 months, but this bad boy is looking strong right now, just as it "should" be turning down to make the next low. Maybe early March was the market trying and failing to go lower or perhaps we're getting some strong right-translation. And maybe NAV is right and we're gonna go down soon. Anyway, since the low of June 2006 this is a bullish chart to this point.
On uranium, it's been almost four years since the last down week. In 2003 there were declines of $10.20 to $10.10 in March, and $11.00 to $10.90 in June. Minor blips in a year where uranium oxide went from $10.20 to $14.50
Heck, even as we've watched this thing unfold, uranium has tripled in the last year and a half. Early October 2005 to now. Tripled. Good grief, crude oil retraces half its decline and people on the boob tube have the sky falling down around them.
If oil had done the same thing that uranium has since the beginning of 2003, it'd be $298 per barrel. If it'd matched uranium since the beginning of 2001, it'd be $361 per barrel. I'm amazed at the lack of coverage of uranium stocks and the lack of furor in general.
I imagine it will eventually come, and many charts will go parabolic. Sure don't see that yet.
Best,
Doug
#6
Posted 03 April 2007 - 12:41 PM
ascending triangle.
http://www.futuresou...rts.jsp?s=USJYY
#7
Posted 03 April 2007 - 12:43 PM
NAV, why are you bearish on OIH?
Denleo
Denleo,
Not anything based on fundamentals. My daily indicators are diverging miserably as we are approaching the 151 resistance, which is not a good sign. My weekly indicators have also started rolling over. Only a weekly close above 151 would be bullish here. Otherwise, i am getting ready to short this sucker (pretty soon).
I have no opinion on OIH at this point. I see what you are saying. It will be great if it falls. It would mean crude will fall = good for the stock market. Well actually just about everything is good for the stock market.
Denleo
#8
Posted 03 April 2007 - 01:29 PM
Edited by TechSkeptic, 03 April 2007 - 01:34 PM.
#9
Posted 03 April 2007 - 03:10 PM
The future is 90% present and 10% vision.
#10
Posted 03 April 2007 - 03:20 PM
NAV are you getting anything on the gold stocks?
Cheers. They are up but just following the main indices.
Tor,
I don't have a good read on the Gold stocks at this juncture.