Seeking Alpha

Patrick MontesD...'s  Instablog

Patrick MontesDeOca
Send Message
Published Technical Analyst, Author, Commodity Trader, Systems Developer, Algorithmic Intelligence, Computer Modeling of Processes. I custom build Proprietary Artificial Intelligence for each individual client's portfolio needs. After more 30 years in the business, Patrick MontesDeOca has... More
My company:
Equity Management Academy
My blog:
Trading Talk
My book:
Vedic Codes of the Stock Market Volume 3 – ETFS
View Patrick MontesDeOca's Instablogs on:
  • Pershing's Gold Upside Technical Landscape

    The Technical Landscape

    Let's take a look at the weekly and daily charts and see what took place last week since we published our first report on Pershing Gold and see how we can technically navigate this unique opportunity.

    The weekly charts indicate this potential move could cause a sharp rally in stock towards the $1.28 to $1.60 level over the near term. The upper end of the weekly target zone suggests a test to the $1.91 area and possibly even the $3.00 high made in early 2011. These are levels that are not out of the equation of realistic possibilities, and could be reached in a short time period.

    It's clear if we take a look at the daily chart below, the price reached the upper end of a long-term uptrend channel that started in August. This came after a decline from the $3.00 levels in early 2011.

    The upside breakout from the .39 to .40 cent levels just last week to the .62 cent levels accomplished this week completed near-term target objectives. The stock closed at .50 cents on Friday; a 25% gain in one week!

    Using the daily chart to identify ideal entry points and Fibonacci retracement codes, the formula suggests that the ideal place to enter is at the 50% level of .47 to the 61.8% retracement of .43 cents. Major long-term support is at the bottom of the uptrend channel at .40 cents.

    In my opinion these levels will be hard to capture again given the bullish resource report expected this month and the high volume of insider interest the stock is attracting.

    NEXT WEEK'S SPECIAL GUEST

    Mystery Interview with New, Promising Gold Company's President
    Over the next week I will be interviewing the President and CEO of a new gold mining company offering another unique opportunity in mining shares. It owns a project in Arizona in a region with a long-history of proven gold and silver production, as well as an exploration project adjacent to a major producing mine in Nevada.

    My mystery guest has almost 50 years of experience with all aspects of mineral exploration, mining and processing including the engineering and management of 12 open pit mines, 9 underground mines and 14 process plants. He has been directly involved with developing six junior mining companies and served on the boards of 13 mining companies beginning in 1981.

    Listen to my mystery expert's opinion on the future of gold, his company's mining ventures and the bright future of his company.

    Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in OTCQB:PGLC over the next 72 hours.

    Jan 21 6:08 PM | Link | Comment!
  • Golden Eagle Futures Swing Trading Instructions Weekly - 1/18/2012

    Signals are automatically generated by integrating electronic weekly nearest futures statistics with proprietary algorithms.

    GOLD
    The February electronic gold contract closed at 1687. The market closing above the 40 day MA is confirmation that the trend momentum is bullish. With the market closing above the VC Weekly Price Momentum Indicator of 1682, it confirms that the price momentum is bullish. Look to take some profits, if long, as we reach the 1700 and 1713 levels during the week. Buy corrections at the 1669 to 1651 levels to cover shorts and go long on a weekly reversal stop. If long, use the 1651 level as a SCO/GTC (Stop Close Only and Good Till Cancelled order).

    SILVER
    The silver contract closed at 31.90. The market closing above the 40 MA is confirmation that the trend momentum remains bearish. With the market closing above the VC Weekly Price Momentum Indicator of 31.52, it confirms that the price momentum is bullish. Look to take some profits, if long, as we reach the 32.43 and 32.97 levels during the week. Buy corrections at the 30.99 to 30.09 levels to cover shorts and go long on a weekly reversal stop. If long, use the 31.44 level as a SCO/GTC (Stop Close Only and Good Till Cancelled order).

    B POUND
    The B Pound contract closed at 1.5860. The market closing below the 40 MA is confirmation that the trend momentum is bearish. With the market closing below the VC Weekly Price Momentum Indicator of 1.5945, it confirms that the price momentum is bearish. Look to take some profits, if long, as we reach the 1.6032 and 1.6204 levels during the week week. Buy corrections at the 1.5773 and 1.5686 levels to cover shorts and go long on a weekly reversal stop. If long, use the 1.5686 level as a SCO/GTC (Stop Close Only and Good Till Cancelled order).

    EURO-CURRENCY
    The eurocurrency contract closed at 1.3330. The market closing above the 40 MA is confirmation that the trend momentum is bullish. With the market closing below the VC Weekly Price Momentum Indicator of 1.3338, it confirms that the price momentum is bearish. Look to take some profits, if long, as we reach the 1.3379 and 1.3434 levels during the week. Buy corrections at the 1.3283 to 1.3342 levels to cover shorts and go long on a weekly reversal stop. If long, use the 1.3342 level as a SCO/GTC (Stop Close Only and Good Till Cancelled order).

    E-MINI S&P 500
    The E-Mini S&P 500 contract closed at 1.478. The market closing above the 40 MA is confirmation that the trend momentum is bullish. With the market closing above the VC Weekly Price Momentum Indicator of 1.472, it confirms that the price momentum is bullish. Look to take some profits, if long, as we reach the 1.486 to 1.495 levels during the week. Buy corrections at the 1.463 to 1.449 levels to cover shorts and go long on a daily reversal stop. If long use the 1.449 level as a SCO/GTC (Stop Close Only and Good Till Cancelled order).

    SOYBEANS
    The soybeans contract closed at 14.29. The market closing below the 40 MA is confirmation that the trend momentum is bearish. With the market closing below the VC Weekly Price Momentum Indicator of 14.34, it confirms that the price momentum is bearish. Look to take some profits, if long, as we reach the 14.55 and 14.82 levels during the week. Buy corrections at the 14.07 and 13.86 levels to cover shorts and go long on a daily reversal stop. If long use the 13.86 level as a SCO/GTC (Stop Close Only and Good Till Cancelled order).

    CORN
    The corn contract closed at 7.27. The market closing above the 40 MA is confirmation that the trend momentum is bullish. With the market closing below the VC Weekly Price Momentum Indicator of 7.27, it confirms that the price momentum is bearish. Look to take some profits, if long, as we reach the 7.34 and 7.42 levels during the week. Buy corrections at the 7.20 to 7.14 levels to cover shorts and go long on a daily reversal stop. If long, use the 7.14 level as a SCO/GTC (Stop Close Only and Good Till Cancelled order).

    Patrick MontesDeOca

    Equity Management Academy

    Toll Free: 877-733-1511
    Ph: 805-418-1744 Main
    E-Fax: 310-281-6919
    Email: support@EMA2Trade.com
    Twitter: https://twitter.com/EMA2Trade
    Live Video Chat: Click HERE
    FaceBook: www.facebook.com/EMA2Trade
    YouTube: Trading Talk

    To unsubscribe return email to: Support@EMA2Trade.com and write unsubscribe in the subject

    TRADING DERIVATIVES, FINANCIAL INSTRUMENTS AND PRECIOUS METALS INVOLVES SIGNIFICANT RISK OF LOSS AND IS NOT SUITABLE FOR EVERYONE. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.

    Jan 19 2:47 PM | Link | Comment!
  • GOLD FORECAST IS $2700 FOR 2013 AND MORE BEYOND

    GOLD FORECAST FOR 2013 AND BEYOND

    On this special report I spoke at length with Steve Roy with the Equity Management Academy, where the focus is MANAGING WEALTH, through education. Here is his forecast for where Gold may be heading in 2013. Roy's analysis uses Fibonacci, Gann, Wave analysis (not necessarily Elliott), Moving Averages, as well as Proprietary techniques.

    Click here to see charts and VIDEO

    Gold hit its all-time high in September of 2011 at $1923.70, as seen using the monthly continuation chart, and has since, been consolidating. So let's see if we can get some idea of where we are now, and my opinion of where we are going this year and beyond.

    Click here to see charts

    First let's see where we have been. I am using the low in 1976 at $100.00 to the high in 1980 at $873.00 as my WAVE 1 of 5. Using the Fibonacci expansion tool, you can see that we are currently around the 2.00 level at $1646.00, which is the minimum for a WAVE 3 completion. We will see, however, that it appears to me that we are not finished this wave yet.

    I believe that we have completed the 3rd wave of 5 in WAVE 3, and are in the beginning stages of wave 5 of the larger WAVE 3. The next level up is the 2.618 expansion level at $2123.70, and the 3.236 level is at $2601.40, so keep those prices in mind. I have also added the 41 month cycle, which is from the low to the high of WAVE 1. This cycle comes in again in March of 2014.

    The market corrected this wave 1 until it bottomed at $253.20 in July of 1999. That's about 19 years. So, using that time period as a guide, the next impulse wave should complete around 2018. So we will start our WAVE 3 analysis from the 1999 low. We are looking at the Fibonacci retracement of wave 1. Note that the price corrected down to the .382 retracement level. That was the wave 2 correction. I have also added the 104 month cycle, which covers the low to the high of wave 1.

    This cycle ends in November of 2016. I have added the Fibonacci expansion to Wave 1 of WAVE 3. Note that so far, wave 3 which began in October of 2008, has also hit the Fibonacci 2.00 expansion of wave 1 at $1814.60, again, the MINIMUM objective to complete a wave 3. The 2.618 expansion comes in at $2297.10, and the 3.236 expansion is at $2779.50. Keep those prices in mind.

    I know that at this point there is probably a lot of discussion of how I am determining the waves, so I'll take a few minutes to show you. Here, I have added our moving averages to the weekly chart of WAVE 3 starting in 1999.

    This gives you a better view of the action. In my wave analysis, a corrective wave is not confirmed until the PRICE, as well as ALL THREE of the moving averages turn down, and confirmation of next wave beginning when the price and moving averages are moving higher again. So, wave 1 ended in March of 2008 and wave 3 began in October of 2008. We also see similar action up here, but here's an interesting point to note!!!

    We have not even hit the .382 Fib retracement yet. If you drop down to a daily chart, you will see that we have met my criterion that the correction is over and the next leg up has begun. The fact that we did not get down to the .382 retracement indicates to me that the next leg up could be explosive!!

    In this chart, we are looking at the Gann fan from the beginning of wave 3 of WAVE 3 to the current high of that wave at $1923.70. The 1x1 line intersects with the 1.618 expansion during the week of June 21st of 2013.

    OK, we're now in the home stretch. I have now added a Gann fan from the low in 1999 to the end of wave 1 of WAVE3 in 2008. We have since broken above the 1x1 line and should head up to the 2x1 line for the next target. That line is above the 1.618 Fib expansion line of wave 3 of WAVE 3 at $2691.70 all year long.

    In this chart, I have both Gann fans together. You can see that they intersect above the 1.618 expansion line during the week of August 16. So based on this analysis, my forecast for Gold prices in 2013 is that we will see AT LEAST $2692.00, on its way up to much higher prices in 2014 and beyond.

    Jan 13 4:26 PM | Link | Comment!
Full index of posts »
Latest Followers

StockTalks

  • agq
    Mar 31, 2013
More »

Latest Comments


Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.