Market Musings 10/20

The Dow Jones Industrials index seems to have bottomed, and may now be recovering from this month’s horrendous dip. But I wouldn’t put anything past those big shot Market Makers when it comes to market manipulation out of sheer greed. This whole dip was artificially manufactured on a silly media Ebola scare. No macro reason for it. None at all. Zero. Can hardly wait to see what happens when the FED finally raises interest rates, and there is a genuine reason for a correction!

AUY Ranging

My gold miner AUY (Yamana Gold) is definitely going sideways now, which is better than the down direction I have been used to. I still have that bullish MACD crossover (bottom indicator) to boost my expectations. I rode this one down, dollar cost averaging all the way. Got my dividend. And now I wait.

The Calm Before the Storm - HIMX

Waiting on Google. My tech stock HIMX (Himax Technologies) has been ranging on below average volume for the last week as investors await news (either tomorrow or Wednesday) on whether Google will exercise their option to buy a bigger stake in the company, a supplier of the specialized LYCOS film for the new Google Glass lenses. My DCA purchase price is shown as the horizontal blue line near the top of the chart. If Google buys, then the price should soar above $10. If they decline, the price will probably crash. I’m on hooks and tenders here. I have a lot of money riding on this one. Stay tuned…

AUY Trend Reversal?

Pulling out of the dive! My gold miner stock AUY (Yamana Gold) looks like it really, finally bottomed, and is heading back up. Chart starts at my first buy, and horizontal blue line is my dollar cost average purchase price. Candlesticks are veering sideways now near the $5.80 level, ending the downtrend. Other positive signs are the RSI indicator up top leaving the red zone for the first time since my purchase, and the MACD indicator on the bottom giving off a buy signal (black line crossing up over red) for the first time as well. Also, I should be getting my cash dividend any day now! I am SOOOOO looking forward to this baby heading up over $8 a share and generating me some juicy profits.

Market Musings 10/13

OUCH! The Dow Jones Industrials index was chugging along just fine today until about an hour before the close…then whoosh! The bottom fell out. Hasn’t been this bad since back in late January, as you can see here on the chart. The Candlesticks have pierced the 200 day Moving Average (red line) which is a definite warning sign. Not good for my pure equity 401(k). Not good at all. Beware!

Market Musings 10/9

These last three days in the stock market have been freaking insane! The Dow Jones Industrial index is extremely volatile as the candlesticks keep flapping back and forth over the 50 day Moving Average ( blue line on chart). If this was a seismograph we’d be in the middle of an earthquake. Up-down-up-down…it’s madness I tell you!

Market Musings 10/7

Dow Jones Industrials stock market index is getting messy…volatile. Today was bad, but the candlesticks have been straddling the 50 day Moving Average (blue line) lately. If the candlesticks pierce the 200 day MA (red line) it would be cause for real concern. Keeping an eye on it, though helpless. My 401(k) has been evaporating cash over the last two weeks. Hopefully the run-up to the holidays stokes some economic fires with consumer spending.

One Year Anniversary - CLF

One year. It’s been almost one year to the day that I suffered my greatest stock market defeat when I sold CLF (Cliffs Natural Resources for a 35% loss. I lost a bundle. But it was a valuable learning experience, a lesson in the school of hard knocks. Since then I have turned a profit on my trades overall. I also take solace from the fact that CLF has done even worse after I sold…so if I had held on longer my losses would be horrific instead of just bad. This chart starts at my SALE. You can see how badly the stock has dived since I sold it all at $21.50. Now it’s down to around $8 a share.

CLF is still North America’s biggest iron ore company, and may be a bargain at this price. I don’t know because I can’t study it without getting sick.

Poor GTAT!

You don’t see a chart this bad very often. A lot of people saw their money evaporate today. GTAT (GT Advanced Technologies) was the supplier for Apple’s sapphire touch screens. When Apple decided not to use them, GTAT couldn’t make it. They filed for Chapter 11 bankruptcy and the stock is down an incredible 92%. One might have read the writing on the wall by simply checking the insider trading charts and observing the massive amount of executives selling off their stock over the last couple of months. The scary thing is that this stock was on my technology sector watch list as a possible buy!

AUY Update

Got it! Bought another block of AUY ((Yamana Gold) stock at $5.83 per share today, lowering my dollar cost average purchase price to $7.26, as can be seen on this chart with the horizontal dark blue line which is now aligned with the September 9-16 “shelf”. Looks like a good intermediate resistance level. I might be able to buy one more block of shares mid-week if the price is right, which will lower my DCA even further. Then I sit and wait. Should be getting the dividend check added to my account in about ten days.