11 thoughts on “CHART OF THE DAY

  1. Bob UK

    So, in theory, we could see assets such as gold/silver, oil, commodities rise on the back of a falling USD between now and May?

    Alas, I find it very hard to commit to buying gold/silver due to the manipulation that you often talk about Gary. I think I will wait for a correction in the conventionals.

    1. gary Post author

      I no longer commit more than 1% of my portfolio to metal trades for that very reason. It is for the most part an artificial market.

      Hower oil and energy trades have done very well lately and nat gas may be in the process of bottoming here.

      But I’m the same as you, I’m waiting with the vast majority of my portfolio for an intermediate cycle low in the stock market before I get aggressive.

  2. Bob UK

    DOW up 200 points.

    I don’t know whether to cry or to laugh out loud with these markets. Big sell-off on Friday and then people pile in on Monday to buy the dip.

    I am beginning to think that the HFT computers so influence the market nowadays that it just can’t crash – as soon as it has a day or two down then, wham, up it goes.

    1. gary Post author

      With the economy slowing it’s more important than ever for the Plunge protection team to keep the market propped up.

    2. Roy McIntyre

      Patience. Sell offs always seem least likely right before they happen. I haven’t seen anything yet to make me beleive that we are anywhere except deep into a weak DC that topped on Day 8 or 9, and late in an IC. I’m not saying it is coming tomorrow, but I am saying that the sell off is coming. Patience.

      Anyway, unpredictable markets are not the markets to buy. Today was unpredictable. If you are surprised by an up day, then you had no way to position for it and so you can’t cry over lost profit. And if you had no expectation, then you had no way to set stops if today had been a down day. You have to let days like today pass and wait for the days when you can buy with an expectation… an expectation that results in profit if it happens and results in a tight stop out if it does not. Today is “just one of those things that happen”. Let it go. There is a CL coming, and it will be “one of those things that we know will happen”. Let’s buy that.

  3. Ken

    The ‘technicals’ have been indicating for some time that the dollar should be pulling back but sell offs are being cut short. A drop below 95 seems unlikely.

  4. gary Post author

    95 would be a 23% Fibonacci retracement. That may be all we get folloiwed by weeks and weeks of sideways consolidation.

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