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I was about to ask you if you still think that the big move down in the conventional markets is coming Gary?
You said that if someone can be patient then such a drop could be enough to make your profits for the year within a few months (Don’t worry, I am not holding you to it.).
But do you think that is still very much the case – that when the drop comes it will be the best buying opportunity of the year so far?
Eventually there will be an intermediate degree decline but the Fed can stretch this out further than any of us expect. Naturally it should occur in early May, but like I said if the market can make a higher high then it could could pushed out to June or July.
Like I keep saying patience will eventually be rewarded but waiting for the ICL is going to be frustarting.
Thanks Gary.
QE MONEY NOT FLOWING INTO GOLD??
It’s flowing into stocks where the Fed is protecting the market.
http://stockcharts.com/h-sc/ui?s=GDX:$XEU&p=D&yr=1&mn=0&dy=0&id=p79727980545
Don’t final tops occur on marginal breakouts to new highs? As I am typing this (Monday morning), the Nasdaq is above 5000.
That is my prefered scenario. A double top with the Nasdaq making a marginal new high. However with the Fed protecting the markets and global QE there is a real possiblity that the 7 year cycle continues to stretch into a parabola and the market just breaks out above 5132 and keeps going.
We just have to play it by ear as things progress.
But by no means should anyone short this market … ever. It’s too dangerous to bet against the Fed.
This DC is chewing up time, nothing more. I become more convinced every day that this DC has seen its highs, and probably so has this IC. I think we see the decline into both the DC and IC low in the next couple weeks. And I do think it will be the buying opportunity of the year when we get there. All of my powder is dry waiting for it, and has been for a while.
Yes cycles tells us a correction at midsummer. Then the acceleration of the cycles downward move is not that steep, so do not excpect a crash ala -87, just a correction. I dont know if bondmarkets will roll over forcing the FED to raise interest rates, I have to investigate it a little bit more.