Hate to tell you this folks but some of the last two days downward action is likely a direct result of the TA article by Investopedia. Anything touting bullish TA, like an "engulfing candle" is like announcing a honey filled bee hive to the bears.
There is even a book out called "Trade the Trader" which analyzes why TA is failing so much. The bots are now coordinated to move the other way in many cases, and the poor retail investor doesnt have a clue as all of the guru's are promoting TA, price action, relative strength etc,etc.
When I saw the Investopedia article being mentioned on Yahoo I almost shorted SLW via some put options even though I currently am long.
Its no secret that people are leaving the market in droves these days. The retails investor is sick of getting screwed by the bots and shysters. This is a perfect example of it.
After watching these swings in the market over a number of years it appeared that what is happening today was about to take place. A post was attempted a week ago, but the censors didn’t allow it to be posted. It seems that the Internet is locked down on message boards for any sort of “heads up” on market direction where significant manipulation is about to take place. Another poster on the Yamana message board, Globalau, noticed the same very unusual upside gap in the Kitco daily gold chart, which implied an attempt to maximize the return on a short position.
What preceded the failed post was a message that the Kitco daily gold chart implied a takedown was about to happen. Unfortunately the link in the following message posted on 7/23/12 only shows current price activity, so the gap cannot be displayed:
tinyurl com/KITCOgoldUPGAP (replace the space with a period to access)
The bottom line is that charts will suggest ahead of time what might take place, as far as manipulation, since there is some setup involved. If we are successful in being able to broadcast these moves, assuming posts are not censored, manipulation can be mitigated for those who are made aware of what might happen.
Be careful with charts, because there seems to be an increasing tendency to manipulate market action by what is made available through charts that provide free access, such as those from Yahoo and MarketWatch. Specifically timelines have been reduced that were formerly available on market indices to hide the likelihood of current trends. Dam (spelling) crooks!