Weekly Stock Charts [Box Theory]

Jonathan Parsons Rank: 81 Followers: 9 Votes: 1 Years Member: 11 Last Update: 17 December 2014, 19:03 Categories: Chart Patterns
Trend Analysis
Volume Analysis

Dec 14th Update: Some big changes in 2 weeks. Gold looks OK, not great. (I'm long a little in CEF). Bonds are rocking. (I've been in and out twice for nice gains - no position right now. I just keep buying dips & selling rips). Stocks are a mess (I'm short via SDS and SQQQ vs. a few remaining longs). There's some signs of a bottom coming this week (seasonality, $VIX stretched, # of stocks in strong bull mode, Fed meeting catalyst?, etc.). My plan is to start scaling out on the short side just in case we start ripping next week. Good luck all. Dec 1st 8P Update: We're seeing the first real cracks in this relentless bull run now. Flash crashes in AAPL aside, we typically see some chop/pullback in early Dec, then a rally into the holidays. I'm keeping things thin on the long side right now. There's no need to press full out long in the indexes. As of today, I'm short small caps via TZA, short the yen via YCS, and long bonds via TLT (small). I do have a few small long positions that yet to get stopped (IAI being one). Gold & silver made some huge short covering moves today. We might see some fading/consolidation, but the capitulation trade might have just triggered. Some names to watch (NGD, AUQ, GG, GFI) as well as gold/silver ETFs. Ag/Grains led by wheat also had a big move today (I'm long DBA & looking to add). What else? Oil put in a big move today, but the trend is still down in my book - so that's on the 'do not disturb' list. If some of big majors keep acting well and oil cooperates, there will be plenty of time to jump on the long side if a trend develops. Good luck all.

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