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November 21, 2005

Gold & silver stocks ran to the upside, Mon., Nov. 21, 2005, 5:40 PM

Sunday morning I awoke at 5:00 am, ready to start my day. Maybe I forgot it was Sunday? Maybe I just had precious metals on my mind? Whatever!

All I can say is that rather than taking the day off, which is my practice, I decided to write an article in the morning that I'm sure you have read by now. It starts: Tomorrow morning the gold and silver stocks will run to the upside. Unequivocally."

Then I say, I sit back in my chair and I ponder the reason why I do this. You don't know me, and I don't know you. So why do I write lines like the first one above?.... In any event, I see silver moving. I (also) saw it back at the end of June, when I wrote about it (too).

Sunday the futures market indicated that gold and silver would trade lower today, so why was I so cock-sure? Why did I write headline articles for gold and oil in mid-May, and pronounce that the next day" both would start to rally?

In fact, how was I to know to tell you on Nov. 15, which is just six days ago to switch out of SNDK and into LLTC? But, just like gold and silver stocks took off today, so too did my forecast on Sandisk and Linear Tech work out. SNDK dropped this week "23.7 pct (from 61.35 to 46.84) and LLTC was up +2.6 pct from 34.49 to 35.40. Holy smokes.

I mean look at the chart.


084a003.gif


And how about these pictures from my gold and silver monitors? Yes, I'd have to say that gold and silver stocks ran to the upside " just like I said they would.

084a001.gif

084a002.gif

Posted by Posted by Bill Cara on November 21, 2005 05:40:08 PM | Category: Gold

Discourse

How do you do it? I think you are the Traderwizard, it's magic.

I thought gold looked good going into this week, but what cajones you have to put your reputation on the line over and over and over. Heck, I didn't even add a silver stock this morning when I "knew" I should.

So Mr. Traderwizard; if your readers learn your protocol, do their own week in review using this protocol, then check their work against yours, read every post by you, learn every tab at the top of your home page and keep an open mind, how long before that magic rubs off on them?

That's what they should all be doing btw.

Posted by: g034 [TypeKey Profile Page] at November 21, 2005 6:14 PM [link]

Bill,

After the SNDK and LLTC calls along with the recent gold and silver calls, you can probably have an audience with the Dalai Lama. I think you have reached Guru status.

Keep up the great work, I check your blog daily for your insight.

Long SNDK as of this morning... nice pullback.

Posted by: Rockmann [TypeKey Profile Page] at November 21, 2005 6:16 PM [link]

Bill,

Guessing... Its RSI on weekly and monthly charts topped out recently, with a divergence on the daily chart.

LLTC had a RSI bottoming out in its daily, weekly, and monthly charts.

I'm not sure what other indicators you used, but this stood out, since you have been discussing RSI recently and how you go over the charts at different time views.

Still, I feel sure I'm missing something. Perhaps several somethings... How do you weigh the RSI data against other information?

About gold: No clue. Still awaiting enlightenment.

To quote something overheard once, "It ain't bragging when you've done it."... And you've done it Bill.
Thanks for all you do.

Posted by: JR [TypeKey Profile Page] at November 21, 2005 7:44 PM [link]

g034-
It took me several weeks of work just to read all what Bill has put together regarding indicators, sectors, fundamental, technical analyses, intermarket analyses, and on and on BUT IT WAS WORTH IT. That was my advice to reader "Ben" as well. The protocol is there as well for the asking as well as every link so that readers can do it for themselves. In fact, Bill invites you to do so with every Week in Review!

Posted by: MarkM [TypeKey Profile Page] at November 22, 2005 7:35 AM [link]