Year: 2012

HXD, Horizons Bets Pro 2x bear, update

Hamilton

HXD JUL 12 2012

We do not tire from recommending this ETF either as a hedge or simple to make money. It has been disappointing as every single time when things seem to fall in place there is another Central Bank ready to spoil the fun with a twist, a QE3, a bribe or whatever it takes. This one is now up for about a year and one half, seemingly forever. The faster moves should not be that far away. Again , see previous blogs; we expect this one to go above $40+ but, as we are wont to do, only show the more immediate possibilities. We do not expect a triangle here at all, but show it simple as a possibility.

TSX update

Hamilton

tsx jul 12 2012

EW requires a daily chart that I do not have. Barring that here is the take on what I do have. There is a very clear, almost text book wave 1 down, followed by a retracement precisely as would be expected, that is to the top of the minor triangle wave 4. Then we do almost the exact same thing but on a slightly smaller scale. Though it is not possible to unequivocally draw a conclusion, the evidence suggests  that this was 1-2, 1-2 of different degrees and that things are going to accelerate.  This could make sense considering that the wave shown is itself a wave 3, perhaps, in a bigger picture. Furthermore there is no alternation which lowers the chances of this being a single wave. Time will tell.

RSI,Roger’s Sugar Inc. (was income fund).

Hamilton

rsi l 2012rsi.to

Our Mission is to maximize unitholder value by being a high performance organization, supported by proud employees and focused on operational excellence …

This is from when they were still an income trust (1997 to 2011). They have a monopoly on sugar refining and distribution in Canada. They are the only ones that have capacity to refine sugar from sugar beets, the genetically modified type from Monsanto.

We are fast approaching the 50% retracement level but what caught my eye is the rather nicely formed wedge, very near the upper trend-line. If correct this promises a drop to $4.25, too much to ride out.