Wednesday, May 12, 2010

ChartsEdge BP map (reminder) for this week; and comments

Folks, remember that Mike Korell posted a full week of his remarkable beta particle based (trader mood) charts via a link at his ChartsEdge Daily Maps page, http://www.chartsedge.com/wp/
That is shown below, so click it and look if you haven't already. My main comment this morning is to notice something. For those who bought low last Thursday, notice it was a perfect cash-account 3-day swing into a sell high yesterday. Now, from a sell yesterday, it'll be a perfect 3-day swing IF the ChartsEdge map proves "correct" with a buy-to-cover low on Friday morning. Whether or not it's coincidence, it's a neat hat trick if it works. We'll see.

Meantime we can see if the euro has similar timing in trying to find footing. With currencies jangling investors' nerves, it's no wonder gold has a fresh wind at its back. As for silver - while Kevin Depew (who I've added among those I'm following on Twitter) noted a potential DeMark sell on it, he agressive it may re-cycle positive again to pace gold (turns out he actually prefers silver - I know some do; I understand but don't get involved in that match yet, either way; mainly charting gold). Anyway ... Here's that reminder on ChartsEdge:
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ChartsEdge BetaP chart for week of May 10th

Posted: May 10th, 2010 | Author: Mike Korell | Filed under: One-Day Market Map | No Comments »

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