• 15 hours The Shroom Boom Is Here To Stay
  • 2 days Biden Will Be A Boon For Solar Stocks
  • 4 days The Gold Rally Has Finally Run Out Of Steam
  • 4 days Citibank Analyst Predicts $300k Bitcoin By End Of 2021
  • 7 days Bitcoin Lives Up To Its Safe Haven Status In A Big Way
  • 7 days 14 Million People Will Lose Unemployment Benefits On December 31st
  • 9 days Why 12 Million American Millionaires Isn’t Good News
  • 10 days Big Oil Is Paying The Price For Investing In Renewables
  • 11 days The Banking Industry’s $35 Billion Gravy Train Could Disappear
  • 12 days Did Amazon Just Democratize Prescription Drugs?
  • 13 days The Private Space Race Just Got Very Real
  • 15 days Short Sellers Are Willing Big In This Turbulent Market
  • 16 days SpaceX Gets Go-Ahead To Send Humans Into Space
  • 17 days Saudi Arabia Lost $27 Billion In Oil Crash
  • 18 days China’s Big Tech Takes A Hit As Regulators Crack Down
  • 19 days Black Friday Could Be Retailers’ Only Hope
  • 20 days Why You Should Not Dump Your Stay At Home Stocks Just Yet
  • 21 days The Real Reason Why Uber And Lyft Stocks Have Soared Nearly 50%
  • 23 days Bitcoin Heads Towards $16,000 And No One’s Cashing In
  • 24 days Elon Musk’s $250 Tesla Tequila Is Already Sold Out
What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

readtheticker

readtheticker

readtheticker

We are financial market enthusiasts using methods expressed by the Gann, Hurst and Wyckoff with a few of our own proprietary tools. Readtheticker.com provides online…

Contact Author

  1. Home
  2. Markets
  3. Other

Glencore Showing Some Strength

Same/Change Switch

Much has been written on the negative side about Glencore. But the stock chart tells a different story. Something has changed!

Yes the web has negative stories of Glencore derivative, CDS and copper bear market issues, true, but why are money manager buying it? Is it the distress asset play? Is it pure short covering? Who knows! This stock is one to watch. A break out to new ground will confirm strength, any pullbacks should be considered from the long side. Of if it is short covering then supply will surely have another go at pushing this stock down to all time low support.

Wyckoff terms
SC = Selling Climax
AR = Auto reaction
ST = Secondary test
SOS = Sign of Strength, ? is to be confirmed.

Glencore, Gold and Barrick Gold Monthly Charts

Investing Quote...

"After years of patient study I have proven to my entire satisfaction as well as demonstrated to others that vibration explains every possible phase and condition of the market." ~ William D Gann

"It is much harder to sell stocks correctly than to buy them correctly." Because of the emotional aspect of trading, if a "stock went up, the average investor would hold because he wants more gains - he's exhibiting greed. If the stock declines, he also holds on and hopes the stock will come back so he can at least sell and break even - he's hoping against hope." ~ Bernard Baruch

"How many millionaires do you know who have become wealthy by investing in savings accounts?" ~ Robert G Allen

"Investing should be like watching paint dry or watching grass grow. If you want excitement...go to Las Vegas." ~ Paul Samuelson

"People somehow think you must buy at the bottom and sell at the top to be successful in the market. That's nonsense! The idea is to buy when the probability is greatest that the market is going to advance." ~ Martin Zweig (The inspiration behind a number of Martin Zweig's methods came, from Jesse Livermore).

 

Back to homepage

Leave a comment

Leave a comment