49 thoughts on “CHART OF THE DAY – LEARN TO TRADE AGAINST THE CROWD

  1. newb630

    Folks,

    I subscribed back in March, 2016. And I can honestly tell you that was the BEST $25 dollars I have ever spent!! My portfolio is up at least 30 some percent.

    Your livelihood is at stake here. If you follow the wrong guy, you end up loosing your hard earned money.

    Sign up and follow the right analyst!

    1. ras

      Yes, Gary is a very talented analyst. His work with cycles is unique. If anyone needs a shoulder to lean on, he will be a good choice.

  2. ras

    Boil is taking off. Oil complex awfully close to a turn. pm stocks bottomed before the FOMC meet. Best place to be now : au/ag complex. Olls, a bit later. Metals,ditto.

  3. s29

    I’m a long term USD bull, but short term bear. The EUR/USD should make one big false move to the upside before exploding higher again. As long als the 3 year-low in the dollar isn’t above 1.60 EUR/USD, I’m long term bullish.

  4. Steffmeister

    Gold=Bear
    Spx=Bear

    Garys cycles work is very similar to Alex the chart freak.

    I think we should see some action next week, probably at or around the third of August.

    Btw, my penny stock pm portfolio is up 261% since August last year ๐Ÿ™‚ but we are still in a bear market imo

    1. Gary Post author

      I’ve been long energy stocks for months and months. I have no plans to change that anytime soon.

      In fact I’ll probably hold through the rest of the year.

      1. gent25

        Oil: and here is yet another major buying opportunity (as it has been for the past 5 weeks) as it goes down yet again.

  5. Gary Post author

    Don’t forget biotech. It’s now up 40% in the last 5 months. All the while the trolls have been telling me I’m wrong and biotech is going to collapse.

    Just one more call where one could have made some good money buying low when I recommended it. Instead the chart monkeys can only see the downside so they missed another great opportunity.

    How many of these do you have to miss before you finally figure out these nitwits have no idea how to make money in the stock market and quit listening to them?

  6. Steffmeister

    Sorry Spx is in a long term Bull but we are going closer to an end, but we are due for a correction. Lets see how next week unfolds.

    A breakout to the upside or a correction?

    Watched a chart yesterday that suggested DJIA going to 28000-38000 before a top

    1. Gary Post author

      The daily cycle is only on day 22. First daily cycles rarely top until after day 30.

      The second oil bottoms the S&P is going to explode higher and follow the Nasdaq.

      No shorting for the next 3-5 years. You will have a lot more money if you will just follow that one simple rule.

      1. Steffmeister

        Ok, I think I will buy american funds. It’s my pensionfunds I’ve been sitting on the sideline for a year now. Unfortunately it’s not possible to buy biotech or gold&silver, just common stock funds.

        My tradingportfolio is very healthy so that’s ok.

        Yepp the explosion is coming to the upside ๐Ÿ™‚ I sold my bearish bet yesterday bcos of other reasons, imminent drilling news in one of the miners I’ve been watching for a while.

        Be careful Gary what I’ve heard after the spike up it can not be sustained, it my come down just as quick, I do not know yet, but we will see some action mid next week.

        1. Gary Post author

          Bubbles form when price stretches 40-60% above the 200 DMA and every Tom Dick and Harry is buying stocks.

          We have a long way to go before we hit that phase of the bull market.

  7. mediatik

    When do you see oil bottoming I got money on the sidelines waiting for this !! Btw please redo your 25% off offer on sub !! I missed the last one …

    1. Gary Post author

      I’ll make the call in one of the nightly reports. $200 is as cheap as you are ever going to find for a newsletter,

      Most charge twice as much and don’t make money.

  8. gent25

    rumors has it Soros believes martial law coming to USA hence his big short position… I hope this rumor is also false..

  9. humbled

    Thanks Gary, been watching the US dollar as it is going to drive nearly everything else.. assets wise.

  10. Gary Post author

    It’s almost funny how these guys can be wrong every single time because they are using the wrong tools.

    You are kidding yourself if you think you are going to make any lasting money trading chart patterns, indicators, or EW nonsense.

    You will forever be stuck in a pattern of win one lose one, or win one lose two.

    None of these tools will give you an edge that will allow you to make consistent gains over a significant period of time.

    Chart patterns morph and evolve over time and rarely follow through on the original projection.

    Everybody sees the same indicators. If you think you an make money following the same indicators as every other retail trader in the world, good luck.

    EW is just pure nonsense in my opinion. Every EW practitioner I’ve ever seen usually has 2,3 alternate counts. How does one trade alternate counts? Most every EW guy predicted that gold still had a 5th wave down before the bear ended. We see how well that worked out for them.

    EW is the single best tool ever invented for trading in hindsight. Unfortunately none of us every get that luxury so IMO it’s basically worthless, and the legions of traders that have finally thrown up their hands in disgust is a pretty good testament that most agree with me.

    1. s29

      You gotta be kidding me, do you know how much money Robert Prechter has made in the last years? ๐Ÿ˜‰

  11. zkotpen

    Gary,

    The Wave Principle, what you and others call “EW” is just the first step in establishing a scientific paradigm for market forecasting, hence, it is incomplete.

    What the wave principle lacks, as you’ve pointed out, is some method of pattern disambiguation. But rather than discard the patterns, one can also elect to try to disambiguate from among the valid alternatives. The irony is, you, of all people, pointed me in the direction of the answer — though you did not provide the actual answer — to pattern disambiguation.

    A good analogy is chemistry — especially given your love of biotechnology. Lavoisier’s discovery that fire was not, in fact, an element in the 18th century was a significant and necessary step forward in establishing modern chemistry. Still, it did not provide an actual paradigm for modern, scientific based chemistry, which most people take for granted in the 21st century. The paradigm came a century later, from Mendeleyev and his periodic table of the elements — which, by the way, was incomplete and imperfect when Mendeleyev discovered it. Still, all your biotech can only exist after that paradigm for chemistry was discovered.

    In market forecasting, Elliott laid down the patterns, but, as you point out, he was not able to establish a scientific paradigm. But that does not mean that one doesn’t exist — it simply has yet to be discovered. Or maybe it has been, or is in the process of being discovered, but simply has not been published.

    1. Steffmeister

      Great post zkotpen, you are coming forward as an intelligent guy. It didn’t take long for Gary to shout out his disgust with EW. I have a hard time to respect analysts who are expressing that kind of heavy, not so bright rhetoric. Calling others idiots and nitwits are words from an insecure man. Be humble and never express a sure opinion of markets, is the lead words from the genius W D Gann.

      There are many very bright analysts out there, but they are humble and stay low key. The chart I found yesterday just blow my mind, wow that’s the kind of stuff that I want to learn more about. The “problem” is it takes a lot of time and effort to master these techniques, it is never an easy task.

      EW tries to figure out the fractal wave pattern and I find it interesting to use. The nature of all charts is fractal with mathematical/geometrical relationships and yes the chart says everything, it reflects all the fundamentals in play.

      1. Gary Post author

        Folks I’ve got news for you. There is no fractal pattern to the stock market.

        Like I said, and like so many others have finally figured out, EW is the greatest tool ever invented for trading in hindsight.

        And I’m being kind using words like nitwit compared to what they have called me.

        Here is an exact quote from a new sub this week.

        “Hi Gary, just joined as a sub last night. I have been listening to EW fools for years playing options and trying to time the market. I am done with that and look forward to your steady advisories.

        My question for you is in the case of ERX where it still might have room to fall do you think it makes sense to do covered calls.”

        1. Steffmeister

          And of course I’ve got news for you, the fib ratios that you are using is a measurement tool of a fractal ๐Ÿ˜‰

          W D Gann was a genius I’ve got proof of it.

          Thats unfortunate that you were called names bcos the only thing we are trying to do is to earn a little bit of money. I guess the bad analysts is using that kind of childish trick.

          Here is a good analyst that I follow a kind man and a dedicated EW’er
          https://youtu.be/W43CL5zanNw

          A beautiful wave pattern in Gold, have a nice weekend folks.

          1. Gary Post author

            The video just proves my point. EW is nothing more than data mining to find a pattern one is already convinced will be there. Notice he completely ignores the second major wave up in 2012 because it doesn’t fit in the EW 5 wave count. However in real time one would not be able to ignore that powerful rally.

            Complete and utter nonsense. And like I said only useful in hindsight and only after conveniently ignoring the waves that don’t fit into ones predefined expectations.

      2. humbled

        but legendary commodities trader Larry Williams said that W.D. Gann’s work is a con job … there is no 1,000% return per annum ever achieved, as touted.

        In Larry’s own words, the Gann is all about great publicity. This can be found in Larry’s book.

        1. Gary Post author

          I would agree. The concept of 60 or 120 year cycles is just silly. Traders don’t have careers that long so why in the world would any cycle stretch that long. About the longest cycle I can see any reliable pattern for is the 7 year cycle in the stock market and the 8 year cycle in gold.

  12. humbled

    Yes Gary, we just look at USD/JPY and DXY today ~ omg

    it seems Gary is going to be correct across all the assets that he made a call !! I don’t recall any other analyst who got all these recommendations right, and profitably so.. ๐Ÿ™‚

    many thanks to Gary for sharing your expertise ! =)

  13. chrisG

    huh, robert pretchter is crap. Isnt he a permabear. Would be bankrupt listening to him

  14. chrisG

    Index, consolidated, and seems to be breaking out to it primary, secondary etc trend. ie…. up

  15. Alexandru Popovici

    and here we have as expected for this week:
    – today the ICL in crude oil and CRB index
    – yesterday [a very shallow] HCL in stocks in broad indexes and very obvious in Transports.

    I’m getting ready to re-short treasuries while holding tight to my BEAT stock.

    stocks to rise through the next week whereas the jobs report should be the catalyst for daily cycle decline.

    1. Alexandru Popovici

      yeap, indeed, Chris.
      Bought some NWL too today.
      I keep an eye on BCOV for the future…

      Cloud is the leading group of stocks for this new bull market

  16. Gary Post author

    Yes there is a decent chance oil completed its ICL today. It was clearly in a bloodbath phase.

    1. gent25

      Oil: well it looks like oil is still completing its ICL today and probably will be tomorrow again..

  17. TraderPete

    Michael Belkin uses TSA for his investment decisions. I’ve found TSA to be the most accurate forecasting tool out there.
    PS: Michael Belkin is extremely bullish on Gold, Silver, and the Mining Stocks.

    1. Gary Post author

      You’ve got to be kidding. That guy was predicting a crash in stocks for years and a rocket launch in gold, but way too early. He couldn’t even get the intermediate cycle lows nailed down so that he could at least make a little money during the bear market.

  18. SLEP

    What does the Transportation Security Administration have to do with gold, silver, and the mining shares?

  19. buythedip

    Gary,

    I follow your blog on a daily basis and I truly think you’re one of the best analysts/cyclists out there. However, you claim that you have timed every single turn in markets perfectly while every other Tech/EW/analyst was on the wrong side!! in all honesty futures traders would have gotten burnt following your cycles:
    – you claimed that the SP had made a DCL the week before brexit and that it was headed to ATH for sure, you basically had 0 respect to the other camp bears, idk if you bought before brexit but obviously your call for a “DCL” was wrong 100 pts.
    – on june 15th, you said oil had bottomed and the trend line break was just to fool technicians, guess what oil down $7-8 since then.
    – recently you made the case that gold would still fall and break trendline again to fool technicians, guess what gold already started the next leg up

    overall, your calls were mostly solid, that’s why i respect your opinion tho i have no clue on what you base your cycles, tho most are good calls it seems to me you’re just guessing, given you have years of experience with market, i find your guess work to be pretty good.

    btw, i follow EW and while you thought oil bottomed, I was riding it down and bought gold just at the right time and no im not bearish on the SP

    take care,

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