12 thoughts on “CHART OF THE DAY

    1. gary Post author

      Hard to say. Another bull market should start but we need another bear market in the dollar to also begin and I’m of the opinion that the dollar still has another leg up to 110-120 first.

  1. Jay

    Ever see the episode of the Twilight Zone where someone wakes up in the future thinking he is rich, because he has a lot of gold, and it’s literally absolutely worthless? Maybe that’s how this eventually plays out. 🙂

    1. gary Post author

      I’m expecting another leg down after we get past the FOMC meeting manipulation.

  2. Mr. Edge

    China China China. The stock market in China is imploding. With all the margin debt stock holders are holding, there will be a reckoning. Even tho the Chinese love gold, they will have to liquidate when that day comes. That will be the low in gold. The question is when will that be. Any thoughts Gary?

  3. Bob UK

    Can’t believe that biotechs are still soaring higher and higher. Was hoping XON would drop down to about 35 bucks when it was 40… and now it just broke through 60 bucks. Ouch!

    I get the impression that biotechs are well people can still see money to be made and are piling into that sector.

    We had a bounce in oil resource companies yesterdays – the RIGs, etc, etc – and it will be interesting to see how long this bounce holds up. I have a feeling that oil will retest the March lows. I am keeping a close eye on the coal, copper and iron miners but I don’t think they have seen their lows yet for 2015.

  4. Dan

    If that weekly sharp reversal from 400 on IBB can’t knock down biotechs, I don’t know what will.

    1. Bob UK

      It was seen as a buying opportunity. I thought – hoped – we would get a decent biotech correction but instead they are just powering higher and higher.

    1. Tom

      No, Gary thinks the miners bottomed last week for a tradeable bounce. This is not the final bottom, only a temporary bottom that will last a few months or so. Then they will go lower to form a final bottom sometime this winter or next spring.

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