Author Archives: Michael Harris

Price Action Lab Alert for Monday, May 21, 2012

Posted on May 20, 2012 by Michael Harris

This alert is for one long and ine short signals  two very popular ETFs  with 1% profit-target and stop-loss.

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An Excellent Call by Peter Brandt for a Top in Russell 2000 Index

Posted on May 19, 2012 by Michael Harris

Although I am critical of classical chart patterns for various reasons detailed many times in this blog and I had criticized last year’s call by Peter Brandt for Dow 4,000 solely on technical grounds, I also want to be fair in this blog … Continue reading →

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Do you have the time to answer comments posted in your blog? If not, just turn them off

Posted on May 19, 2012 by Michael Harris

I do not have the time for that. Comment sections in market analysis websites can help increase advertising revenue but also increase maintenance periods and the risk of the blog getting infected with viruses and spyware transmitted through spam links.

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Gold and Silver Rebounded with Prospects of Further Gains

Posted on May 19, 2012 by Michael Harris

Before the open of last Thursday I wrote in this post that “Gold and silver are way oversold… some type of a rebound is expected from these levels.”  GLD and SLV rebounded during the last two trading sessions and gained 3.4% and 5.32%, respectively. … Continue reading →

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A Warning to all Bloggers Who Provide Market Analysis

Posted on May 18, 2012 by Michael Harris

This is a warning to all fellow bloggers who provide free market analysis: Be wary of anyone who appears eager to learn from you because it may be a trap and you may get into trouble if you are not registered with … Continue reading →

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Price Action Lab Alerts for Friday, May 18, 2012

Posted on May 18, 2012 by Michael Harris

This alert is about a signal in SPY for entry at today’s open and exit at the close and also about short signals in a Dow 30 stock.

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Gold and Silver Charts Indicate Extreme Oversold Conditions

Posted on May 17, 2012 by Michael Harris

Gold and silver are way oversold. The charts for GLD and SLV show levels of relative strength index not seen for years. Although markets can stay oversold for extended periods of time, some type of a rebound is expected from these levels.

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Gap in SPY Closed – Massive Short Squeeze Possible

Posted on May 16, 2012 by Michael Harris

After a 38.2% retracement of the trend that started last December and a closure of the gap left open from the beginning of March of this year, it is quit possible that a massive short squeeze will take place before a … Continue reading →

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Chart Analysis is Not a Trading Method

Posted on May 16, 2012 by Michael Harris

Chart analysis can provide a context for experienced discretionary traders for coming up with subjective probabilities, which are then updated by proven, high expectation methods. Chart analysis alone is a negative expectation trading method because charts nowadays are available to everyone with access to the Internet.

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SPY Fibonacci Retracement Completed, Gap Closure Pending

Posted on May 15, 2012 by Michael Harris

A 38.2% Fibonacci retracement of the uptrend that started during last December was completed yesterday. A closure of the gap left behind  in the beginning of February of this year is still pending but not necessary. In addition, most of the “sell … Continue reading →

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