Post for Grant

Okay Grant here is my analysis of all of the symbols along with their charts.. Hope you like it! (Although I doubt it cuz I'm shooting down everyone of them as long :-p)

AUY:
RSI: trending downward
MACD: trending downward
Broken all fibs and significant support, trendline and channel

Prognosis, Short or wait til bottom at around 4... Wait to break downward trendlines

MFN:
I really liked this chart it was very clean (besides the lack of a good trendline I guess I could go farther back but I don't carry as much weight into trendlines of stocks <10). onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgGWZvwP6iwEE69OaSKC6qFPYITX9buXvG9qhoOOwqpncvqSgbQCjeohj15ksPh2sKgug1Sp_P0MR_eHmu1ExpfPgfa5OIlxNrdvyMqV787UTZORAYKAPdR_mxfBIlFuUfNhDMGP9AdkOI/s1600-h/svm.to.10.05.08.jpg">This was the ONLY security that I looked at that I thought was even close to find a bottom (although I still think that it looks bearish).

Fibs: All broken
MACD: downtrend but looking at maybe finding a bottom?
RSI: downward trend BUT oversold AND almost breaking the trendline upward (not yet though)
Trends on the chart: up trend broken
Prognosis: neutral I wouldn't really like this as a short unless it gets all the way back up to 5 but I don't like it as a long until we see some more positive divergences on the RSI and MACD! But of all of the charts I looked at this is the most promising long position

USO:
Okay so I lied this is the only other chart that has prospects for long positions but I'd be EXTREMELY cautious and have my stops very well in place

1. RSI: broken up-trend and now down-trending after going overbought (bearish)
2. MACD: broken up-trend and has gone negative (bearish)
3. FIBS: still has 1 fib not broken at 71 and also has support at 75 from the previous resistances in 2006
4. Chart: Up trendline still intact at around 75 but dangerously close to breaking this
Prognosis: Go long BUT either have a stop below the trendline or below the fib at 71. Personally I would say below the fib since the price action has already broken the 75 level but just keep in mind that that I really do not like the indicators for this chart. RSI is bearish, MACD is bearish, 50 and 200 day moving averages just crossed. Truthfully I would say to wait for a bounce up to the downward trendline at 80 and to that fib and then short or buy puts... and ride it all the way down to 45.
Overall: I would stay away from it because of the MACD and RSI it just looks too bearish and like it's just begun a big move downward!

SLV:
This was also an interesting chart:

1. Fibs were all broken but now above the 61% fib
2. RSI: downward although almost breaking the trendline
3. MACD: downward
4. Moving averages: Are extremely disparite therefore a lot of this move might be done?
5. No real trendlines on the graph and can't really go back farther (look at that volume in early 05/06 yeah right charts won't help there)
6. Support at 11 Resistance at 14
Prognosis: Hasn't shown that it's found a bottom yet as there are no positive divergences but again kind of close and could go long here with a stop at 10.50 (the 61% fib level)

GLD (FINAL ONE):

Again another interesting chart.
1. Fibs: Held perfectly at the 50% @ 72 and are now above all but the 100% (normal for retracements) (bullish)
2. MACD: Broken uptrend and new downtrend (bearish)
3. RSI: Broke support at 50 and right below 50 but is now back above it? Down trend (bearish?)
4. Chart itself: I personally think it again looks bearish. Look at the volume on these weeks there has only been ONE week where an up volume day was bigger than any of the down volume days in the previous year! That to me suggests a bigger thing than anything on the chart can tell you. IMO it looks bearish but I would not want to initiate anything here.

Prognosis: Short near 100 with a stop just above the high. long near 73 with a stop at 72.5. Also if you look at the previous 3 week candlestick analysis that's a bearish reversal pattern with an up white candle followed by a gap up doji (cross) (reversal signal pending reserval on next candle) and then a down candle. So with that said I'd even say screw long even gold is a viable short but not at these levels

Let me know what you think Grant sorry I can't really help you out with any of these as potential longs but IMO none of them look that great. And you better appreciate this cuz this took about an hour :-p

Jason