This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.
If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.
As long as it can close decisively above 1,070-ish, it is effectively a breakout from the vertical resistance line from the peak in Oct 2015.
Yes gary, sure hope for this to pan out, and miners to rally too.
Gary,
you have entered the “gold MUST break 1000” crowded club……..
Isn’t that a sign that the bottom have already formed????? 🙂
IMO there’s no way gold should even be below 1150 as the dollar didn’t make new highs. It all boils down to when will the market break free of the manipulation dragging gold down.
There is a possibility gold just completed a final bottom. I went over in the weekend report what I need to see over the next several weeks to convince me that is the case.
The fact that the bears managed to waste 4 weeks of the intermediate rally isn’t a great sign though.
Gary, enjoyed your comments. Many
do not recall the month of the 2134 – SP high.
Much less the 2116 high. Bear market,
and the world threat of war, is alarming.
Bear market, is my view. but here
to enjoy your views at this critical time.
Bud
I meant : You have joined
LNKD and FB getting closer and closer to the buying points I have been touting for one month and a half: 97 and 220 respectively. LNKD is to fall to 216.
NTES, another favorite of mine, is falling nicely today too.
I will not buy them though until I see reversal in some basket indexes.
SLP is drawing a handle to its cup; if it withstands the last phase of this correction by throwing low-volume, shallow daily pullbacks, then a small-cap jewel lies out there.
Gary, are you shorting this rally in gold ? How strong is your conviction that the rally will fizzle?
I don’t like to short. When I think the rally is over then I’ll just go to cash and look for something else to buy. It will probably be about time to buy stocks by then.
Dollar is so strong
Gold continues to fall lower as their are no buyers to raise the price. Sure it can be helped along the way(short term manipulation). But it wont rise until it’s ready, until the world economy implodes due to the government bond time bomb.. Which isn’t now, it might be this year or it might be in three years.Looking at the charts, which have been pretty accurate(can you say that about cycle theory), gold has support at $1000, and should continue to bounce of that for a while. If it breaks through $1000, then $700-$800 could prevail. You can shout about the manipulation all you like it won’t make any difference. If you shorted gold or any of the commodities over the last couple of years you would have dove very well. Their isn’t any other way of looking at it, the short trade has been the correct trade, saying you don’t like shorting gold is like saying you don’t like making money, it’s kind of nonsensical.
Not nonsensical whatsoever— you have to know yourself..
Easy to say after the fact, but hard to do in real time. Markets go down differently than they go up. It’s not easy holding through an entire intermediate decline and not get thrown off during one of the vicious counter trend moves.
covered the short with SPX=1992; back 100% into cash
stocks are very-short-term oversold; awaiting the moment to re-short them
LNKD may have put its low at 218.83 … it’s showing healthy relative strength 🙂 just one sign of good health I need from the broad market too and I’ll dive buying LNKD
Let’s hope so Alex ?, nonetheless great move!
William what do you make of the metals/miners daily candle, toppy?
Crude did the triple top breakout fakeout at the open.
Alex no S&P 1967 trigger?
William IF SA holds 9.75 then she’s golden ?
I am seeing a left shoulder for gold in 2016, a head in 2017 and right shoulder in 2018.
Then late 2018/early 2019 it’s time to buy miners and forget them for a couple of years. Just let them run towards +300,500,1000% …
can you post yr chart please..???
Only a little more than 4 points south until we eventually see a single-digit GDX. 🙂
Says the little fairy from the enchanted land of Narnia ?
David, 1967 for spx is not a [covering] trigger just as 1145 is not a selling trigger for gold, $220 has not been a buying trigger for LNKD or 2104 a selling trigger for SPX two months ago.
if you want, they are “landmarks” of the playing field, they are/were “boundaries” of the trading framework.
For my trading plan, triggers are market moods and characterstics which come within statistically relevant observations.
For instance, WITH SPX AT 1992 IT BECAME TODAY RELEVANT TO ME THAT IT IS A VERY HIGH PROBABILITY THAT THE MARKET WOULD TURN ARROUND BEFORE DIVING FURTHER! And as a proof, SPX is now …abour 2002, 10 points higher 🙂
PS: i expect to see the market moving lower to 1967 (BUT THIS IS A NON-TRADEABLE CALL) while seeing further relative stregth in LNKD for certain and maybe also in FB. Anyway, further broad market weakness will come on bullish divergence with its oscilators (with some tripple divergence) and with some market leaders 😉
Awesome Alex, thanks for your time and input?
you’re welcome, David!
The way I see it:?
Gold capped @ 1080 line (topping daily candlestick wick)
US Indices lower trendline wedge bounce
PPT savior daily inverse candlestick wixk
Crude support bail line held via 36.31
IF we can close higher than open on Indices then we’re golden
Nasdaq accomplished that (bought more NFLX)
Gold and SA bearish tippy daily candles (HUI at weekly resistance with XAU nearing)
SA up a nickel for bullish case (sold today)
Crude flat (bullish for a big down day/basing for higher ground since 36.31 now held twice)
Nasdaq bottomed out (now time for filling her gap phenomenon)
RUS, INDU and SPX exhibit bottom daily candles (PPT?)
Alex, please pay attention on this much hated by me stock CVM (NYSE) , latest Flaherty report available. I think you can buy lots of land in Romania when you sell it in 2017… ( :
Hi, Victor! I’ve started to buy land, so that now when I say “I buy/sell/got stopped out” actually these are excel trades 🙂 until I raise at least USD 10,000 to reinvest in trading.
More than anything else…this off period is excellent because IT HELPS ME PROVE MYSELF THAT I AM NOT ADDICTED TO TRADING, THAT I CAN DO WITHOUT IT AND TO COOL OFF.
Actually this is something great money managers do with their traders –> occasionally give them exxtensive holiday periods when not to trade at all, no even for their own personal accounts.
Now, reverting to CVM or Cel-Sci, it definately does not comply with my trading criteria 🙁
I am sorry, Victor.
That does not mean it cannot tripple in 3 months’ time, it simply means that it does not have the character of a statistically fantastic growth stock, it is a very high-risk stock, a risk beyond what my yellow, opportunistic stomach can digest 🙂
Classic criminal intervention into the close. It’s now or never for us bears. Time to break the rigged SPX scam into a waterfall 20-30% decline.
Stock and gold markets are not rigged. Manipulation is merely an excuse; there is no such thing more than as a noise.
It was perfectly fathomable after 1h of trading in today’s session that today SPX would close above 2000, it was no rocket science.
I am tired of the “manipulation” excuse that I read everywhere…
lol ok. I’m not a gold bug all in holding and hoping. And made 60% shorting biotechs last year so don’t worry.
But you’re blind if you can’t see government intervention in the conventionals.
Alex… then you do not agree with Gary..?
As Robo said: If it walks like a duck, and quacks like a duck, it just might be a duck 🙂
The stakes are extremely high. If the stock market goes down the economy will go with it. If they can keep stocks inflated they may be able to avoid a recession.
They only think they can avoid a recession.
There is a ton of very marginal business that would be near history if not for the cheap stay afloat print out there. (which ‘of course’ is not manipulated print. 🙂
Long live the PPT, $NYA in a big hammer mode!
But, chances of testing its long tail are still there..
Alex fantastic scoping and hopefully scooping LNKD my friend!??