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TAM's Pedagogics: April 15th, 2011

Apr. 15, 2011 8:45 AM ETGLD1 Comment
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Seeking Alpha Analyst Since 2011

Kevin A. Tuttle is the CEO and Chief Strategist of the Money Management & Capital Services firm Tesseract Asset Management, LLC (TAM). TAM serves as the General Partner of Long/Short Equity & Alternative Investment Hedge Funds and operates a Capital Services division oriented toward small & medium size companies seeking capital. TAM also owns the registered investment advisory firm TAM Portfolios, LLC (TAMP), which offers Mr. Tuttle’s unparalleled Long Only Growth Portfolio (LOGP) Separately Managed Account (SMA). Over the last 2 decades Kevin has become an industry-recognized technician and has distinguished himself with his signature 100-Year Market Theory and corresponding Dow Chart. His unique quantitative and technical approach to managing assets has lead TAM's growth and success since its inception.
With the sisters traveling south, with no real defined ST trend as of yet, we decided to take a glance at the next potential move in GLD. To do so we posted two identical charts depicting two different ways to ascertain the next potential resistance. The first you’ve seen me do 100 times – the measured move. The last 6 month base provided a $10 range and hence, provides a potential $10 move north.
GLD Daily #1

The second way to view the GLD is in the context of a much larger upward sloping channel it’s been in since the beginning of 2009. By using the channel and inserting the internal parallel upward sloping lines, a confirmation of price arises - $150.

GLD Daily #2

There are a million ways to skin a cat – by learning more than one technique you can check your own work.
I hope this helped.
Have a GREAT Friday.

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