Hathor Exploration

I am not being a tout here. This is not a "Buy NOW!" post. But I want to call your attention to Hathor Exploration (HAT.V / HTHXF). I did a write up on Hathor back in November: A Look at Two Junior Canadian Miners - http://caps.fool.com/Blogs/ViewPost.aspx?bpid=294226 and http://marketthoughtsandanalysis.blogspot.com/2009/11/look-at-two-junior-canadian-miners.html.

I stated my fundamental case for being bullish, as well as the technical case. My technical observation was that the pattern was consolidating in a very large bullish continuation triangle. Since November, the last wave of the triangle has itself become a triangle. You think of triangles like a spring being compressed. It is a balanced fight between bulls and bears right to the apex.

And I believe the next move out of the triangle will be a thrust up.

This is NOT ADVICE!. Just letting you know in case you want to keep this on your radar.

Disclosure: I am long Hathor



Addition 11:00 - I posted this earlier today because I saw that it was starting to break out. But then I forgot all about it in during the bearish excitement. As I was updating charts tonight, I find a very nice surprise on the Hathor chart :)

Looks like we are getting the breakout!



Addition Feb 25

And just to keep track of the record

First Hathor post (11/15/09) - HAT.V (1.90) and HTHXF (1.82)
Second Hathor post (2/23/10) - HAT.V (1.97) and HTHXF (1.89)

Current price (2/15/10 - 12:30) - HAT.V (2.17) and HTHXF (2.10)

Is This Move For Real?

I have an ES count that says "It is *very* possible". Based on the volume, I am even going with probably.

We have some trendline support just a few points down, let's see how it reacts.

Possible SPX Count

I was revising my SPX count based on my XLF Count XLF: That'll Do Correction, That'll Do

AussieKen is thinking along very similar lines http://marketthoughtsandanalysis.blogspot.com/2010/02/xlf-thatll-do-correction-thatll-do.html#comment-36015679

I don't love it because my triple zigzag for Y feels kind of like a cop-out. But it is a valid count. If we don't break down *hard* tomorrow morning, then consider this count invalid (I would).

FTSE Schmootsie II

Following up on the FTSE (see: FTSE Schmootsie).

The FTSE stopped at a perfect 62% retrace with a nice bearish reversal candle. Now a reversal candle only signals potential reversal. But if we get some follow through tomorrow ... watch out.

Stochastics are also in the overbought territory. Also the DAX has a bearish candle sitting in the same spot.

This definitely bears watching.

XLF: That'll Do Correction, That'll Do

I have been going crazy trying to figure out an XLF count. Even the uber-bullish case does not work (the overlapping waves at the beginning do not count like a valid series of 1-2's). Yet the move kept extending.

Then it hit me... What about an ABC last leg with a C ending diagonal?

I think it count *very* well including a trendline overshoot and immediate breakdown.

Wishful thinking? Maybe (perhaps probably), but I am actually giddy to see tomorrows open for the first time in the past few days :)