Red-Hot Resources

"Luck is not chance, it’s toil; fortune’s expensive smile is earned.”

Tuesday, January 09, 2007

Charts for today

I am swamped today, so here are some charts to look at. Red-Hot Canadian Small-Caps and Red-Hot Asian Tigers subs take note -- I'm showing a stock for each service that you already hold...

First, let's look at crude. Not so bullish.

The bounce today isn't very convincing. On the other hand, look at the volume -- we're seeing big selling by funds, particularly hedge funds. You know they all run to one side of the boat at once. That unbalances any market, but it also helps us find bottoms (and tops).

Now for the next chart. It's interesting to see how the Australian market broke away from the S&P 500 in late December, but has come back to Earth hard. Today was a very bullish day in Australia. We'll see if we have follow-through.

RCS subs should know that Forsys Metals, my latest uranium pick, pulled back and got you filled on Friday, then took off like a rocket. Note the rising triangle -- bullish!
And here is one for RHAT subs. Check out the bullish action in Sino Gold! Your whole portfolio had a very bullish day.

But who knows what tomorrow will bring for either service. Stay tuned!

Labels: , , , , ,

Check out my new gold and energy blog at