goodguy

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Joined USA
Markets Allocation
55 % stocks 16 % indices 8 % commodities 21 % other
Top Mentioned Symbols
USOIL 16% | 54 IWM 10% | 35 DXY 9% | 30 DJI 4% | 15
goodguy goodguy USOIL, 1D, Long ,
105 2 2
USOIL, 1D Long
Update on view of Crude Oil: Triangle starting?

On June 29th I suggested we may get a retreat in oil prices (see link below). This has occurred and price is now at the lower trend line. I have changed my wave count (something all EWT folks do all the time :)* ). It looks to me like a final triangle may be forming. If the current drop in prices goes below 63.40 this idea is wrong. Process your way. Best to ...

goodguy goodguy LS1!, 1M, Short ,
38 0 4
LS1!, 1M Short
Lumber breaks monthly uptrend line: Bearish for stocks.

See my previous post (link below) for longer term chart. If lumber keeps falling it favors stocks will too.

198 4 5
DJI, 1D
DJI: one bearish possibility.

My last last posting on the DJI worked out well IF you didn't read my subsequent comments (poop). At the level labeled "d" a small triangle formed which I favored in real time that it meant more down action (wrong). Triangles are a double edged sword. Now we have another one it looks to me. Here is the bearish view. Watch for the break of the 2 hour uptrend line ...

128 2 4
GC2!, 1W
Gold: current view: upturn soon.

There was a huge rapid upswing in gold from 2008-2011. After a large rapid rise there is often an expended sideways consolidation IFFFF the longer term bull market is not over. I favor it is now over as I still favor long term the US dollars fall is not over. The action from 2012 to now may be part of such a extended consolation. We now have potential saucer ...

goodguy goodguy SI1!, 1D, Long ,
125 5 1
SI1!, 1D Long
Is it time to start buying silver?? I think so.

Back in March I suggested we would likely have one more drop in SLV (see link below). Its taken a while but it has happened and the target I had then has been reached. So far today SLV is up 1% on a gap up. May want to wait to see if the current downtrend line taken out. Process your way.

goodguy goodguy USOIL, 1D, Long ,
231 0 4
USOIL, 1D Long
Crude Oil: Medium term top soon?

1. We are approaching some major support/resistance lines. 2. Approaching the mid line of the current channel. 3. We are approaching the target of two different methods I use. 4. We have a large potential bearish divergence in both the weekly (not shown) and the daily RSI. 5. Least important: the wave count. Would not be surprised to see oil rise a little ...

goodguy goodguy DJI, 1D, Long ,
203 14 7
DJI, 1D Long
DJI. Best guess 2

If you remember my best guess 1 it dropped less than I expected to the 50 % correction level, then bounced to a newer short term high only to drop to lower short term low (see link below): a trap of sorts. I favor this is just a form of tricky correction the EWT folks call a irregular flat. And today it stopped at about the .62% level which is common. IF. This ...

goodguy goodguy DXY, D, Short ,
55 0 3
DXY, D Short
US Dollar is the up bounce over?

In February I suggest a bounce was likely coming in the US Dollar DXY (see link below). The DXY is not at the center line of the weekly channel and almost to the Fib target area I had. There is now a bearish divergence in the daily RSI. I think it is like the dollar is about to have a longer to term decline starting soon. I have closed my shorts on gold as a ...

goodguy goodguy NYMX, 1W, Long ,
55 3 5
NYMX, 1W Long
NYMX speculative pharm. co. looks good to me.

Maybe because I am older this company that has developed a very promising drug for treatment of a large prostate looks very good to me. But also to others. All these medical development companies are high risk vs potential high reward. It just takes their lead drug to fail FDA approval for price collapse so suggest you stay with a small investment if you buy ...

goodguy goodguy RRC, 1W, Long ,
92 6 3
RRC, 1W Long
F/U on RRC

Slanted "W" bottom on the daily. Gives a short term target of 19. May encounter some resistance there. Have a great weekend.

goodguy goodguy NG1!, 1W, Long ,
172 0 4
NG1!, 1W Long
F/U on Natural Gas

My last posting suggested natural gas may turn up and it has ( see link below from 2.12). It’s corrected some the last few days. Is the up trend now over? I favor it is not. I remain long. If get bullish action I will add to my position. Notice positive reversal in 4 hour RSI. If you go long could use a close <than the 4 hour up trend line as a stop. Process ...

goodguy goodguy SPX, 1D, Short ,
488 0 7
SPX, 1D Short
US Stocks: Best Guess

Just the way it looks to me. Process your way.

28 0 3
SPGSCLP, W
F/U on crude oil/ UWT

See my March post (link below) I looked for the index to likely get to the 220-224 level. It’s getting close and there is now a bearish diverg in the RSI so may get a correction soon But I would not be surprised if it rose a little more to this target zone. Watch closely for reversal pattern and consider DWT. I closed out my UWT personally when it hit the lower ...

goodguy goodguy SPN, 1M, Long ,
51 0 4
SPN, 1M Long
SPN: Breaking up.

Another oil related stock that looks very promising to me. My personal short term target is around 17-20. Long term could possibly exceed previous high of 57.

goodguy goodguy ATEC, 1W, Long ,
50 2 2
ATEC, 1W Long
ATEC: going long

Biotech company. Most don't care but wave count looks good to me. Great bullish divergence in the weekly RSI. Good increase in volume at "C" (see weekly). For me the target if it breaks up is around 8-13. May still see one more drop to the .62 level on the daily. Some may want to wait til down trend line broken. Process your way.

goodguy goodguy TESS, 1W, Long ,
54 0 3
TESS, 1W Long
TESS: one to look at

Watch Friday at the close to see is it will still have a bullish engulfment candle in the weekly chart (it does as of now). Has a positive reversal in the weekly and the daily RSI. Personally I am long with my stop a close below this weeks low. More evidence of bullish uptrend will be a close above the long term support resistance line and a close above the ...

42 0 3
GPOR, 1D
GPOR: another oil related stock to watch

Bottom may well be in. Watching what happens next few days. Process your way.

goodguy goodguy USOIL, 1D, Long ,
219 0 2
USOIL, 1D Long
F/U on crude oil

In February when oil was 63.55 I posted a bullish view of crude oil. (See link below). That projected target was reached. But based on an another (RSI) method there is another target of 75-76. With sanctions on Iran we may see a pop up here in oil. After that would not be surprised to see some down correction.

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