You won’t want to miss the weekend report. I think there has likely been a long term trend change that occurred this week. I explain in detail in tomorrows newsletter.
Smart Money Tracker
You won’t want to miss the weekend report. I think there has likely been a long term trend change that occurred this week. I explain in detail in tomorrows newsletter.
Let me guess.. Go long? I think we retest the lows
In a natural market yes we should test and break the lows. We haven’t had natural markets since QE1 began though so who knows which way stocks will go.
Gary, just your thoughts on precious metals here if you think the CRB has bottomed with oil obviously? Have we seen the final low in gold or still going to test 1030-1040? Latest COT is awful- commercials added huge short positions 23k and took off a large number of longs nearly 10k.
Thanks
The COT is a long way from being bearish on gold yet. The Blees rating is still quite bullish at 76. Now when the Blees rating gets to 20 or lower then we can talk about bearish COT reports.
This bearish gold COT and crazy bounce in oil just setup a devastating plunge for the fall, that should send WTI to the 20s and gold below 1000. The SPY should drop by 35% minimum as well. The central banks are starting to lose control and this is just the beginning. Enough of this BS belief in their omnipotence.
There was nothing close to panic on Monday, all the experts and financial advisors on TV were pounding the table to buy more for the long term. I bought energy stocks for a trade and cashed in some biotech shorts, but that’s it.