New Intermed Uptrend!!

roneeth · #**991** 4th October 2005, 12:08 AM

Hello Saint!

Thanks again very well written....
You make it so simple....

Regards

Roneeth

Saint · #**992** 4th October 2005, 12:13 AM

Hi Ragh_Ash,

Quote:

5.CUP WITH HANDLE FORMATION

-also a reversal pattern,but more obvious at the bottom rather than at the top.
-basically looks like a coffee cup with a handle.
-There is a basing stage,accumulation phase(cup),then a breakout,followed by a pullback,forming what looks like a handle.
-Breaking out of the top of the cup is confirmation of a change in trend.

-Few criteria:The cup should be more rounded than a "V".
The handle should be in the top part of the cup,not too deep.
Cup pattern should take at least 7weeks to form.
Volumes should contract in the handle and expand on b/out.

-From a trade perspective,the buy is at the area where the top of the cup is taken out.Stop:At the low of the handle.Target:Measure the distance to the low of the cup.Add that to the breakout area.

Check out the diagram.......nothing like seeing a pattern!

Regards,

Saint

comerciante_inde · #**993** 4th October 2005, 08:48 AM

Quote:

Originally Posted by saint

Hi Commerciante Inde,

Will come to your queries a bit later..............as for the commodity markets,don't know much about it.But still track the Gold market........am no expert in the Gold Futures,but have a number of Gold stocks with me (trading in the nyse).Piled on to physical gold at 303 when monthly charts started making a double bottom and moving into a new uptrend and silver at 5,when charts started following gold up....and so far enjoying the ride up.Well other than Gold and Silver,don't usually track the Grains ,etc.

REL CAP:In a very strong primary uptrend........taking a breather right now as its monthly charts have started to correct.Still some way to go for the correction.......consolidating via price or time.Looks good especially if this area of 365-370 holds as support........If in already,and you're along term player,it's HOLD.

IFCI:This has been in a long downtrend from 1998 and found a bottom in 2001-2002.2003 has seen IFCI threatening to start a new uptrend......so far a nice higher pivot low on the monthly and looking good for higher prices if you are a long term player.Amonthly close over 20 is confirmation of anew uptrend.........looking good,is a HOLD if in already.

Happy Trading!!
Saint

Thanks Saint. Somehow your words are their own magic.

I was short in silver but covered on Saturday in haste although with decent profits. It came down further yesterday. What is your view on silver.

Last, have you tracked crude anytime in not so distant past.

Best Regards

dinkerj · #**994** 4th October 2005, 09:05 AM

Quote:

Originally Posted by karthikmarar

Saint

very nicely explained in such simple terms...great work, my friend...Ever thought of writing a book..."Trading and Technical Analysis for Beginners"...? I will take the publishing rights...and I can plan my early retirement...

....and a nice cozy house on the backwaters of kerala...

warm regards

karthik

Dont worry kartik. I am also collecting saits articles and planning to publish.

hey saint! We will write an acknowledgement also.

karthikmarar · #**995** 4th October 2005, 10:09 AM

Quote:

Originally Posted by dinkerj

Dont worry kartik. I am also collecting saits articles and planning to publish.

hey saint! We will write an acknowledgement also.

Dinkerji....Please note..only acknowledgements....no...royality...

Saint · #**996** 4th October 2005, 10:14 AM

lol karthik,dinkerj

Saint · #**997** 4th October 2005, 10:24 AM

Quote:

Originally Posted by comerciante_inde

Thanks Saint. Somehow your words are their own magic.

I was short in silver but covered on Saturday in haste although with decent profits. It came down further yesterday. What is your view on silver.

Last, have you tracked crude anytime in not so distant past.

Best Regards

Hi Commerciante Inde,

Silver has been in a huge weekly symmetrical triangle,itching to break out.Instead it broke down and sucked in all the bears,and then negated that weekly bearish candle and is now threatening to break out upwards from that symmetrical triangle..............Looks good for higher prices,along with Gold.A definitive breakout on high volume in Silver will take it to 10 soon.

Frankly,I am of the opinion that Silver is in a long term and intermed uptrend....keep away from shorting (unless for very short term).Get ready for the blast up that is imminent..........Charts are looking juicy for a trend move up,Ride the Trend,and Enjoy the Ride!

All the best!!
Saint

dinkerj · #**998** 4th October 2005, 10:58 AM

Quote:

Originally Posted by karthikmarar

Dinkerji....Please note..only acknowledgements....no...royality...

Yes, ofcourse no royalty.and i am no JI JI. As a matter of fact i am JHA. Dinker Jha.

karthikmarar · #**999** 4th October 2005, 11:08 AM

Quote:

Originally Posted by dinkerj

Yes, ofcourse no royalty.and i am no JI JI. As a matter of fact i am JHA. Dinker Jha.

Dinker Jha

Somehow I always thought there was a "i" at the end....dinkerji at tragerji.......and to tell the fact, I used think that this man has the audacity add "ji" to his name.....

. It is nice to have you around in this forum, JHA..

warm regards

karthik

silverbyte · #**1000** 4th October 2005, 11:12 AM

The monthly charts of VSNL look like a cup-n-handle formation - what do seniors think? Is it a good buy for medium term hold?

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