13 thoughts on “CHART OF THE DAY

  1. gary Post author

    Let me be clear. Being out of the market doesn’t mean selling short. You can’t ever sell this market short with the Fed propping it up. The best one can do is sit in cash and wait for the next buying opportunity but you can not play the downside.

  2. Ken

    Gary, at some point the FED is going to stop propping up the market and allow it to fall, if for no other reason than to allow the smart money to get back in a dirt cheap prices so the game can begin again. That’s how what the stock market is really all about.

    1. gary Post author

      That’s not my view. If the stock market collapses it will cause a recession. The Fed will fight that for as long as they can and try to keep the markets propped up. The consequences will be the same as in 2000 and 2007. It will cause a bubble. When the bubble pops then all the Fed printing will just inflate commodity prices and exacerbate the economic slow down.

  3. Bob UK

    So this week and next should be interesting weeks on the markets.

    I imagine that the markets will spike up on news that comes out of Apple – whatever the results are I expect the stocks to go up. I will be very surprised if Apple declines immediately on their results.

    But once Apple is out of the way will we have a day or two of more sideways and then down, down? Interesting times ahead.

    1. gary Post author

      The CRB has been going up along with oil, just like I said it would. I do think it is a bear market rally though so I don’t expect it to continue more than another 4-6 weeks.

  4. Roy McIntyre

    Too late to be buying the broad market. Not saying you won’t make money if you buy Monday at the open and sell at the right time. Just saying that selling “at the right time” is a trick. The right time to buy is coming, and it will be a lot easier to recognize than the right time to sell is.

    I hope. ‘Cause I’m waiting and hoping like hell for that “below the 200 DMA” entry that will make me look like a patient genius. 🙂

    1. gary Post author

      Patience is the one thing that most investors lack. It’s a key ingredient that separates the winners from the losers.

  5. MuffinBottom

    “just like I promised months and months ago …”

    Dear Mr. “just like I promised months and months ago …” aka “Mr. I told ya so:
    You throw so much mud at the wall in the way of predictions, that something is bound to stick. However, the mud that hasn’t stuck would have covered up your wall of predictions long ago.

    I would suggest a little modesty for a change, you know, one of those inner values that has been esteemed by the fellow human beings since time immemorial.

    1. victor

      this is all you can do mr. MuffinB… crawl out of your hole and fart. Why you can’t appreciate man’s time and work to produce this daily / weekly charts? I and many others prefer to see this “mud on the wall” then nothing. If you don’t like it – don’t read it, that simple.

    2. gary Post author

      What have I missed?

      I said a year ago that the Nasdaq would get to 5100.

      I’ve been looking for the dollar to correct this parabolic rally. It’s doing that now. Either as a sideways consolidation, or maybe a real intermediate correction. We should know which by the end of next week.

      I said oil was going to bottom and give us a convincing bear market rally. It’s doing that now.

      I said the bullion banks would continue to manipulate the metals market and make it very tough to trade successfully. Ditto on that one too.

      So far I’m doing pretty good this year. But if you are more interested in day trades then I’m not the man for that. I’m terrible at day trading. Gave that up years ago.

  6. MuffinTop

    Just for the record.. I ain’t related to MuffinBottom. Who clearly doesn’t know his ass from his elbow, Lol!

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