I hate to say it but past experience tells me when G-Money starts drawing red lines to da moon it’s time to go the other way. $RUT made a “double top” failed to make a higher high and will lead the rest of the equity markets into their first “correction” (i.e. >10% loss peak to trough) over the next couple weeks. The ICL has or will top this week and we’re going lower. Don’t be surprised to see gold and miners make a higher high confirming that the “double bottom” is in and that the secular bull market is still alive! 😉
I’m with you Jorgy. We are overdue a correction in the equity markets. Just purchased October Silver calls this morning. Good Luck to us!
Jorgy, those are green lines going to da Moon.
The stock market is due for a dip down into a half cycle low but I doubt we are going to get a final top to this bull market here. Sentiment is luke warm at best. We need to see wildly bullish sentiment for this bull to top. The Fed will absolutely protect this market into the final taper. No way they let another 2011 happen.
BTW we are buying miners this morning as gold appears to have put in a short daily cycle low. This will probably be a short term trade but if gold can get through the manipulation zone at $1320 it could turn into a longer term hold.
I think Gary switched it up on me… Green, red, blue… they’re drawn to the moon and nearly always in the wrong direction. Just as I said a few days ago, the market and the $USD will likely find their tops (swing highs on both) and gold would find it’s bottom (swing low in place) all we need is a higher high and Gary, Poly an Rambus and the crew will all panic pile into the clown car again as subscribers get whipsawed and panic buy into a move that already happened. Same as it ever was… 😎
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