Welcome To The Golden Minerals HUB On AGORACOM
Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.
Message: Somber review of the markets
1 J ORY CAPITAL INC. TECHNICAL REVIEW – October 28, 2008
5-Day Selling Pressure Index Election Watch 10-Day A/D Ratio -1207 Advantage: Democrats (-35.11%) .66 Let’s pour a double dose of our favorite beverage and think deeply about this morning’s headline: 2007-20?? B EAR MARKET NOW SECOND TO ONLY 1929-32. Yes, this current Bear Market of ours has declined
-49.61%
. It has leapfrogged over every other
Bear Market except 1929-32. Economists need to think seriously about what the message from this could be. We know that the1929-32 Bear Market ushered in the G
REAT DEPRESSION
.
Now, what might the second worst Bear Market be signaling? There is so much to note after yesterday’s trading. Let’s just hit the key points: 1. October answered yesterday’s question almost immediately. That was about how it would go out - peacefully or become the worst month in stock market history. Well, it knocked off September, 1931. This morning it is in the top spot. October, 2008 is down
-31.01%.
2. The Cumulative Advance/Decline Line broke down to another new low. It is at +89,663. 3. Move #830 has fallen
-17.35%
in just 5 trading days.
4. Downside Volume yesterday was very close to another 90% Downside Volume Day. It came in at 88.4%, saying loudly that the supply of stock for sale is still abundant. 5. The 10-Day Arms Index moved up to 1.94. In conclusion, we still believe this “tightly-coiled spring” will snap soon. The Arms Index, VIX Index and Put/Call Ratios support that as well.
XAU-Gold/Silver Index – 64.36
“The C
RASH of May 9, 1901 had the greatest similarity to the one of Black
Thursday, October 24, 1929. It had been preceded by a long period of frantic speculation. The Nation believed there was no top to the market.”
Donald I. Rogers
The Day the Market Crashed
R
ADIO REPORT
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Any opinions, news, research, analyses, prices or other information contained in this Technical Report is provided as general market commentary and do not constitute investment advice. Jory Capital Inc.
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recommend a purchase of any investment after a personal review of each individual’s financial objectives and risk tolerance. This report may not be reproduced in whole or in part, or further distributed or
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