Can't do. Will need a buy signal on the first chart to start the next cycle and target. What may happen is SLR and quite a few others will continue, possibly vertically. If the column gets to 15 boxes or higher (a 100% run) then there will be a point to take profits. A flag pole waving in the breeze becomes a bit unstable. I typically refer to the short term chart for what appears to be consolidation or topping action. That is why the potential double top, which has now been negated, was important. The short term chart also identifies buying opportunities for stocks such as SLR on a run. You can see these (red boxes) on the short term chart above. If a red appears under a short term down trend then the run is over for the time being. An A/D chart also shows when a likely top is in place. This is when a stock is closing closer to its' lows rather than highs on volume. In the meantime, let it run. I rotate profits into stocks that set up a buying opportunity, such as PRU at 90c last week. Stocks such as RMS has a target of $2.02, which I bought at $1 and still has a bit to run. I monitor over 260 gold stocks and opportunities abound. I love this market.
SLR Price at posting:
$2.10 Sentiment: Hold Disclosure: Not Held
