YeOldGoldNugget's Blog Spot: Orko Silver Chart October 19, 2009

Monday, October 19, 2009

Orko Silver Chart October 19, 2009

By 79Atoms on Monday, October 19, 2009

Orko Silver Daily Chart

Chart is courtesy of marketclub.
Marketclub - Orko Silver Corp. Trend Analysis.

OK, silver last night still was trading around $17.40 in Hong Kong. I thought, oh well no harm done. So I was already taking into account the possibility of another sideways day or a day in the red for Orko Silver.

So, by opening in NYMEX I was pretty excited to see silver breaking $17.50 and heading higher. Sadly, for Orko Silver it was not meant to be. Mondays, bloody Mondays...is what the song should have been called but then again, 30 January 1972 was not on a Monday but indeed on a Sunday.

Orko Silver opened lower at 0.94 and the high of the day which was 0.96 was already put on the boards in the first hour of trading. The rest of the day was a tug of war between 0.94 and 0.95. We closed the day at 0.950 -0.020 (-2.06%).

Now, why did Orko Silver close in the red with such a strong move in not only silver but the entire commodities sector, not to mention basically every other sector you can think of pretty much went up today.

I'd tell you if I knew the real answer to that one so you'll have to do with your own reasons, I'd love to hear them.

As you can see from the chart Orko Silver dropped back to the 10 MA line and made a decent low of 0.92. I'm hoping this holds here and goes back up tomorrow. MACD wise it's too early to tell. Could bounce up, could break through the 10 MA and head lower. This depends totally on the market.

We still have some news due from Orko Silver and we still have the Cup and Handle pattern going so I'm still bullish on Orko Silver for the near term. It appears the market did not agree with me disagreeing the earlier Doji but we will see what tomorrows trading action will bring.

The next bit of the article is something I found out about when looking through my MarketClub (my paid subscription charting software / alert service). Didn't know other users also could use some of its features for free so here it goes.

Market Club Trend Analysis
From now on I will also be posting a link to Marketclub - Orko Silver Corp. Trend Analysis.

The thing is, I know Marketclub for a while now, I stumbled onto their site when I was looking for better online charts and basically a little bit more than I could with my own brokers website which to put it mildly was severely lacking in the charting department.

Now, I first have to try out everything and see if it really is worth anything before I will use it on my own blog. The courtesy links are due to copyright and legal issues so I have to mention that each time I post a screen-shot of their charts which I actually already kinda did since I try to give credit where credit is due.

But that aside, everyday before I start writing my article I get this Trend Analysis in front of my eyes when I open the Orko Silver chart so I thought, maybe I can use that on my blog. The following is a screen-shot of how it looks like from my mailbox.

Trend Analysis is courtesy of marketclub.

Well, I asked them if I could post the daily trend screen-shot but sadly I was not allowed to legal-wise since you either have to be a paying member (like me) or to register to get these alerts. Well, I can understand that. Therefore, today I will just show you what it looks like and then you can make up your own mind.

Me personally, I don't really need it cause the chart tells me enough to make up my own mind but I can imagine that there are other people that would appreciate a daily trend update on their other stocks. I use MarketClub mostly for their charts, some video's and their alerts which I can configure and which get triggered by such and such event and they then get e-mailed to me when they happen. Has turned out very useful!

The Trend Analysis they do is something any charter with some knowledge can do but for others it could be very useful nonetheless and MarketClub has turned out quite useful for me overall.

So, do with it as you please, I'm not one to promote crap or to lie to my readers nor do I plan to use heavy advertising on my blog nor do I use the AD-sense from Google or what not. Well, I had used none actually :-)

So, no, don't worry, there will be no pop-ups, no pop-unders, no heavy intrusive banners between paragraphs or all over my blog. There will only be one banner posted in the header, sometimes one at the bottom of an article and one in the right column and they will be in tune with the style of the blog and hopefully not intrusive. If they are considered intrusive be sure to comment on that, I sure appreciate any input and will take every response in consideration. The banners I have chosen are directed to respectable websites which I myself have first tried and tested for merit.

Edit October 25th.
New affiliate program with BullionVault. It is not required but those readers that feel the need to contribute and in a way credit me for my work can now do so by clicking on one of the BullionVault banners and consider opening an account with them. You can check out their Governance F.A.Q and find out more about them.

That goes the same for MarketClub. You can check them out by reading their help page or you can check out what they're offering by registering for a free 30-day trial. For those who do, definitely check out the alert section.

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