One of my many mistakes early in my trading career was trying to trade counter trend after missing a powerful move. The momentum can be harder to break than many think.
Despite what many believe stocks are not starting an extended bear market even though we probably will drop at least 20% before this correction is over.
The Quest portfolio is now up 900%.
A short term pullback is coming due. I think it will be a buying opportunity.
The biggest and fastest gains occur at the very beginning, and very end of a bull market. Almost everyone misses the initial surge out of the bottom because they are still stuck in a bear market mindset. And almost everyone misses the final bubble phase because they can’t imagine that price can rise that much and remain that overbought for so long. So the vast majority only make a little bit of money during the middle phase of a bull market and miss out on the really big money that’s made at the beginning and end.
Miners have already rallied 47% out of the bottom and I dare say that most people have missed that move because they can’t break free of their bear market mentality. The surprise will be just how far this initial rally will go.
If you think like I do that the bear market is over, then the SMT weekend report is a must read.
I’m pretty much convinced gold has begun a new bull market, so it’s time to convert to bull market trading strategies and ignore the analysts still stuck in a bear market mind set.
The Quest portfolio is now up 670%.
We still have a long way to go, but at least we are making progress in the right direction. 🙂
In todays video I’m going to cover stocks, currencies, oil and gold. This would normally be the nightly report on the premium website, but I’m going to make it public so everyone can get a taste for what is included in the premium reports. If you like this update you can sign up for the premium reports by clicking on the orange button on the right hand side of the page.