Paul Mosgovoy's  Instablog

Paul Mosgovoy
Send Message
Truth is timeless: “Markets never change” – Jesse Livermore, 1923 The early masters, Livermore, Wyckoff and Loeb isolated themselves from the crowd and crowd thinking. None of them ever graduated high-school and yet they each became legends in the market. Their techniques have been time-tested.... More
  • Randgold: After The Close 0 comments
    Mar 6, 2014 4:17 PM | about stocks: GOLD

    The weekly chart below is a hypothetical example for Randgold Resources Limited (NASDAQ:GOLD):

    (click to enlarge)GOLD Weekly

    Chart by TeleChart

    The trendline has been verified with at least five contact points and is moving higher at approximately 650% annualized.

    If this trendline is maintained (and that is a big if), then GOLD has the possibility of a breakout to new highs during the last week of May or the first week of June this year.

    If the trend is broken, then we may exit some, all, or none of the position depending on how and where the break takes place.

    The next potential low-risk entry is identified somewhere in the 86 -87 area if there is a pull-back after a break higher.

    Count the "ifs" in this update..... a total of four so far.

    Nonetheless, positioning for a possible sustained move is a chess game. If (that makes five) we are not planning several moves ahead, then there is the potential to miss the opportunity when it arrives. Else we will find ourselves on the sidelines.

    If-then-else............ :-)

    Disclosure: I am long GOLD.

    Stocks: GOLD
Back To Paul Mosgovoy's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


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.