114 thoughts on “FOLLOW THROUGH

  1. earthkitten

    Thanks Gary. Nasdaq 10,000 is on the way. I think you
    will be proven right in the not too distant future. Exciting
    times no doubt. Thanks again for your guidance. Very much
    appreciated!!!!

  2. jacob2

    Sling shot bubble. Like it. but after the SM’s spectacular rise we are due for a very long arduous correction. Symmetry. Bought commodity stocks last week. Inflation. Doubts about the general market. Reality checks dead ahead.

    1. Gary Post author

      You are in the multi decade bull market camp. The scenario you are looking for would be a long consolidation that then produces many more years of bull market.

      I just find it hard to believe all the years of insane monetary policy could produce such a wonderful outcome. I think there has to be consequences to all this money printing, and I think the consequences will be another series of bubbles. First in bitcoin, next in the stock market and finally in commodities.

  3. Robert

    LOL Stupid investors indeed. Only problem I have is how weak todays follow through has been. Id rather a bullish engulfing long style. Something tells me we may chop some more.

  4. jacob2

    Secular bull markets usually last 16 – 20 years. If you take the measuring point as starting in 09 we’ve got 7-9 years left in this thing. The first leg ended in May of 2015. We went into almost a year long consolidation and then broke out. Think we just ended the 2nd leg and now due for another long consolidation. ” Unknowable” when the third leg will start but might be even longer because of the strength of the last move.

    The 3rd leg is the blow off leg ie. commodities and late cycle stocks. Decided to hang out here during this consolidation phase.

    Might miss the bubble but I don’t think so.

  5. Anthonyo

    Stocks: Wave 4 Up now which may be ending??
    So we either do a Retest of lows of Friday, or may have already made the bottom already. It’s a toss up.

    DJIA close> 25,100 for All Clear. But we are not going there now it seems from Monday’s tepid closing and now futures are down -90.

    If we close higher than SPX 2720 then All Clear. SPX Looks better than NAZ.
    SPX 2630 is the support.

    NAZ close >7075 for All Clear.
    Then: as high as 7800 afterwards. But it will be a slow move up.

  6. Anthonyo

    I like Gary’s idea of “Bubble Democracy” where every market gets its share of QE and we get subsequent bubbles in different markets: bitcoin, stocks, then gold. It kind of makes sense instead of having a decade more of slow UP in stocks only.

    To me oil has already had its peak $153 a few years back and it ain’t gonna go there on supply and demand now(barring a war with Iran regime which could take oil to the same levels or higher). Oil supply by US shale oil is more than Saudi supply per year now; plus oil is increasingly becoming a relic of the past with new energy technologies.

  7. Jim Dandy

    I agree that it´s lesser likelihood of a 1987 like correction having just happened, followed by a 10 year long bull market. I got my first job on Wall Street that summer and markets were ebullient, but by that October the panic on crash day was similar to the 2008 crash, we have seen nothing close to that fear the in recent correction.

    I have my ticket on the G train to riches, we are going straight up from here! If we should go down a little first, BUY MOAR!!

  8. Jim Dandy

    Gary, if the wheels come off the stock market today, will it alter your market call at all? I will add into a decline if it occurs.

    1. Gary Post author

      There’s no question the market is forming a YCL. There’s no question that it will return to the all-time highs. We’re just trying to pick the exact bottom of the correction. But the ultimate outcome isn’t in question.

      We haven’t registered a large BoW day yet. I’d like to see a small to modest down day with a huge BoW number after the close.

      1. Bluebellkid

        But you said we got confirmation yesterday. Now you are saying the market is forming a YCL. You’re not imitating Martin Armstrong now are you? Which is it? And I’m pretty sure Christian his use of the word “confirmation” instead of swing low was aimed at my references to the rally/confirmation I have mentioned. And this was not a confirmation in that context.

        1. Gary Post author

          The market is forming a YCL. The first confirmation is a swing that occurs in the timing band. We got that yesterday. The second confirmation is a close above the 10 DMA. The last confirmation is a break of the down trend line.

          You’ve been around long enough to know these confirmations???

          1. Gary Post author

            I never wait for all three before taking a position though as it would put my stop too far away. Usually I will initiate the position on the swing.

          2. Gary Post author

            Sometimes the first swing is too early. Even so I rarely stop out if the first try turns out not to be the final low. The reason is when it’s late in the cycle stopping out can often cause one to get whipsawed needlessly when in fact one’s entry is “close enough”.

            If other tools, like sentiment and the NYMO confirm then I just hold an early entry until we do have confirmation and then place my stop.

          3. vin

            Thank you Gary for the detailed explanation. It wasn’t clear to me either. I had a similar question. Your explanation sets things right.

  9. Goild

    Attachment

    Good morning,

    There is no economic fuel or sentiment to propel the SM to previous heights.
    Expect a long lingering sideways. Let the channel establish, find out the trend lines, and trade accordingly.

      1. Gary Post author

        Attachment

        And as I’ve shown sentiment has cycled back to extreme bearish levels. We now have the fuel to start the parabolic phase of the bubble.

  10. Robert

    Very weak follow through so far. It looks like a retest of the lows coming up. Gary if this was a YCL the move out of the bottom should be strong and impulsive.

  11. Gary Post author

    Most traders are deathly afraid of drawdowns. It causes them to place close stops which often get hit causing losses even though in the end they had the correct trade. They just didn’t give the trade enough room to work.

    I would say stops that are too tight are probably the reason most retail traders don’t make any long term money in the market.

    Right now in my own personal portfolio I have September call options on the QQQ. I’ve got plenty of time to weather the YCL even if it were to produce another lower low. By September those call options will be up 50-100% or more. Over the next month I don’t know where they will go to. They could lose 50-75% of their value, but that doesn’t mean I don’t have the correct trade on. I do.

    Once the YCL is complete the market is going back up and will make new highs. The Nasdaq is easily going to 10,000. So it doesn’t really matter where we go in the short term. I don’t need to time a perfect entry to make money. All I need to do is get “close enough”.

    Almost without fail every leader in the challenge hasn’t timed many perfect entries. They are just getting close enough. If they have to weather a drawdown they hold through it and as we’ve seen several people have produced outstanding returns already even though none of them are timing perfect trades consistently.

    1. Gary Post author

      I think this is the main reason to understand cycle theory. It can give you a pretty good idea of when you are “close enough”.

      And when we get corrections if you have a working knowledge of cycles you understand what is happening, which makes it easier not to panic.

      Right now we are in the process of forming a YCL. If you understand that then you know this is a rare buying opportunity. On the other hand the traders that really don’t know what they are doing only see a sharp decline. Their emotions cause them to extrapolate the move indefinitely into the future and they start to conjure up all kinds of catastrophic scenarios. It becomes impossible for them to take advantage of the opportunity.

  12. JJHarmen

    Looks like we will see an opening gap to the downside which is a bit unusual. I predict we will have an ugly day down with a recovery that fails by the end of the day. I hope the biotechs get slammed so I can scalp a nice profit on the LABD I bought yesterday.

  13. Robert

    Gary what are you talking about? I have call options on SPY also Sept and earlier. Yesterday they were up like 20% today they are down even more. With options the drawdowns are huge

      1. Gary Post author

        This is why I always stress never more than 10% of one’s portfolio in options. The swings are just too huge. If you go all in on options you can easily watch your portfolio swing to an 80-90% loss before turning into a 1000% gain.

        Almost no one can hang on during a massive drawdown like that unless it’s just a small percentage of their total portfolio.

  14. housenumberking

    The monthly gold chart is a thing of beauty. Logic says it should be shooting straight up right now but I’m fine with this slow accumulation.

      1. Gary Post author

        I always buy the regular options, never the weeklies. Expiration is always the third Friday of the month.

  15. ziasDad

    My two cents regarding options: Time kills them.

    Option prices include an intrinsic value (how much they are “in the money”) and an extrinsic value (the part of the price that is not in the money). If you buy an out of the money option, the entire price of the option is extrinsic value (a.k.a. time value).

    The greater the percentage of the price that you paid for an option position that is extrinsic value, the faster your option position will lose money over time if the market moves sideways or goes against you.

    Look at the theta value of your position. That’s how much money the position’s value changes per day if the market goes sideways. If your position is long options, the theta value will be negative.

    I don’t like option positions that have a high negative theta value. (Short option positions have a positive theta, so you make money with time on those. Examples are covered calls, cash covered puts, and short verticals.)

    There are two simple ways to mitigate a large theta value on an option position:
    1) Buy options that are deep in the money, or
    2) Buy vertical spreads where the long strike is in the money and the short strike out of the money. E.g. right now that might be SPY long 262 strike, short 268 strike (SPY is trading near 265).

    The problem with #2 is your upside is limited. #1 is a better solution IMO.

    Good luck!

      1. Gary Post author

        I’m going to go a little further and say that the time to buy options is at either a daily cycle low, or better yet an intermediate cycle low. Those are the two times where you have a lot of upside potential.

        However if you don’t time the entry correctly those two times are also potential for huge drawdowns on the position before it turns back up. As we’ve seen most dumb money traders are bearish at cycle lows. That means very few can buy call options when they are ripe for big gains. If they do and the option immediately suffers a gigantic drawdown most traders panic and sell for a huge loss.

        How many of you have blown up your account this way? Many hands are being raised right now although almost no one will admit it publicly.

        The other mistake people make with options is they buy them when they feel good about market direction. Also as we’ve seen, when dumb money gets extremely bullish that usually means a top isn’t far away, so the call options are again at risk of a huge drawdown, and if you don’t buy a whole lot of time then you won’t be able to recover unlike buying at cycle bottoms where you often will recover once the cycle turns back up.

        1. x33e

          Buying options when VIX is high means that you are paying exceptionally large premiums for extreme volatility that historically has never been maintained. The subsequent return to a normalized trading environment will be accompanied by a collapse in premium meaning that an options buyer must catch a huge move or time decay will create a losing trade. The time to buy options is when VIX is low. A high VIX represents an option writing opportunity.

          1. Gary Post author

            Or a spiking VIX means the market is at or near a yearly cycle low which is the single best time to buy call options of the year.

    1. ziasDad

      I should mention this caveat: You can get highly levered with an option position. For example, for every deep in the money long call that you own, that position comes very close to owning 100 shares of that stock. (Look at the delta and it will tell you exactly. DITM option might have a delta of 80 or 90, so equivalent to owning 80 or 90 shares). This is great when the market moves in your favor. The position makes money quickly. But if the market goes against you, your position loses money just as fast. Me personally, I would never put my entire account value into one options positions. Too much leverage for me to be comfortable.

  16. Goild

    Perhaps we have seen the peak for a miners bounce.
    It seems the miners still have a date at a lower price before really taking off.

    I am done for the day 🙂

    1. isavage

      Goild – I didn’t miss it – I just Totally screwed up the execution!!

      All those years of XIV & UVXY trading & Boom it happens at last! Only for my execution to go horribly wrong, but I’m man enough to admit it.

      My long standing XIV short i had been adding to like “50 Cent” was getting horribly large. Then when this sell off started felt like Gary we get a dip to buy. Not a mega sharp Vol spike for the history books so i was covering my XIV shorts in to that.

      Then that evening cleared the last position after hours only to then see the waterfall develop in XIV. So ok i lost all massive profit potential i hear you say – BUT its much worse – i was hedging as we had discussed before with shorts or UVXY or TVIX & was not fast enough to pull the trigger to get out of them. So then saw after hours the losses explode out of control.

      Therefore the next day was crisis mode as total account was close to shut down with 18 margin calls (i’m not using Margin but with UVXY & TVIX being sold short that’s what was triggering) from Interactive brokers during the day. each needing me to to sell something to keep the account alive. Fortunately i had some in profits to sell & other short that i had to cover at losses.

      Long story short – if we have seen the final low I have survived by the skin of my teeth! & needles to say last week was one of the most distressing i can remember 😉

      lessons learnt: Being short UVXY & TVIX cut me off from being able to be long/short one of each to naturalize the situation. Not having enough cash on the account always leads to problems. Unfortunately i already paid for these lessons in my spread betting account days & this time i was with a portfolio 1000% larger = VERY HIGH STRESS LEVELS

  17. Bluebellkid

    Well, it’s the lunch hour (or two) and with the Bears in control today I suspect we will see the averages come back from the lows of the day and then the sell off will resume once lunch is over. I’m going to play SQQQ and SDOW till the close.

    1. Jim Dandy

      If you don´t mind me saying, you look kind of old to be a kid, wondering how you came up with that name?

      1. Bluebellkid

        You are right I’m no kid. I have always loved ice cream. My paternal grandmother saw to that. I started dating Gail when I was 18 and her dad loved ice cream as well and down here in Texas we have some of the best ice cream money can buy and it’s the Blue Bell brand. Her dad would always tell her to get that boy a bowl of Blue Bell (he must have like me to share his Blue Bell) and she would. They even got me my own bowl which was quite a generous portion. I ended up marrying his daughter and we just celebrated our 42nd wedding anniversary. Anyway, they called me the Blue Bell kid cause I ate so much ice cream – still do. I have 3 half gallons in my freezer as I type. Maybe it wasn’t such a good name for this site but couldn’t think of anything else. I will be 64 in July.

        1. primetime

          Congrats on those 42 years KID! I know it is not easy nowadays to remain married that long, but often is much better than losing half. HAHA Thanks for the story.

        2. vin

          Thank you for posting it. And a success story you are: 64 and enjoying an investment site, married for more that 42 years. And, healthy enough to enjoy what you like. Man stay healthy! Live to be 100+ with Gail. And, make a lot of money. And, use it wisely including sharing it with those who need it.

  18. Americano

    Really feels like we’re in the ” coil to glory ” for Bitcoin.
    But nothing like BTC to make you feel the opposite of psychic. I think I was calling ( or hoping lol ) for $5K about this time last year when I had my….
    “Paul on the Road to Damascus” moment that got me to swear off JNUG etc for good.
    Obviously I was wrong.
    Hope I’m the same wrong in June as that # is $25K.
    Pray for me !
    Thanks.

    1. Jim Dandy

      No need to tell us the same bs every day, just buy more bitcon then! How about you just visit us when it hits 25K so you can rub it in? It´s getting painful to read your increasingly delusional posts, and you shouldn´t feel the need to convince us that you know what you are doing, when you can´t even admit Bitcon was in a parabola. Notice I said ¨was¨, now it´s just sliding down the backside in it´s collapse, and the only good news is the next $8,000 to leak out of the price will take some time, allowing you to have false hopes for a couple years into the future.

      I hope you got your friends and family to buy unregulated electronic tokens, it will help you learn the lesson for next time.

      You might consider spending your time on a bitcon cheerleading site, because from what I have seen you haven´t caused one person to budge, here at Gary´s place.

        1. Jim Dandy

          He is a broken record, and if he can´t even admit bitcon was in a parabola after the fact ( not using the term ¨bubble¨), then there is no point in listening to him because he is delusional. We all make stupid comments at times, but the same comments day after day to only boost his hurting ego? Nobody has time for that.

          LOL, the guy can´t even say he wish he got out at $20K, which would have saved him 60-70%. How hard is that to say?

          At the same time this guy tries to suck you into his bad investment decision, he incessantly talks down the miners, which is probably where one should be invested considering his opinion of them. If he can keep blabbing about his fake money like he is correct on his call (which he has already proven to be wrong), I can keep calling him out on it.

        2. Bluebellkid

          Agreed (that it was ice cold), and watching the Banking on Bitcoin video I don’t think Bitcoin is going away anytime soon. Someone posted a chart of all the prior Bitcoin corrections and this last one was nothing out of the ordinary. Yes it has suffered a big drop but so has the DOW. Granted the DOW wasn’t stretched as Bitcoin but I think a year from now Bitcoin will be a lot higher. The most compelling evidence I saw was when one of the lawyers (Benjamin Lawsky) who was a NY State Financial Services director (and that may not be exactly right but it is close – I have slept since I watched the video) leaves his position to open a consulting firm for those wishing to get a license for selling/trading Bitcoin I think it is here to stay. Talk about crony capitalism, he made the rules as a committee member and then left public service to go to private service and guide folks thru the process of acquiring a license.

          1. Jim Dandy

            The Dow didn´t drop 70% in one month, but if it did, it still would not be difficult to say it was a busted parabola after the fact, which is where we are now, or that I wish I had sold at DJIA 24000 if it is sitting at 8000. He has never said anything else besides miners suck, bitcon is going to a million, and I´m on the Mayflower. Go through all his posts, exactly the same and adding nothing to the discussion, no new or timely observations, just the same dumb shit over and over.

            Never listen to anybody that can´t admit they are wrong.

            As an aside, bitcon looks to be setting up for it´s next beatdown, if this chart is any indication (which it has been since the collapse started):
            http://schrts.co/yoaoG8

            or Teddy´s favorite
            http://schrts.co/unh71y

        3. Americano

          100% lol.
          & that from a prayer request !

          I get the notions people have here – I had them too.
          I actually am a PAYING subscriber.
          Gary made me a lot of money. Especially in 2016.

          1. Jim Dandy

            I assume from the miner baby bull in 2016, so why do you talk out your ass about miners every time you aren´t making the same prediction out to June over and over again. We get it, you think bitcon is going to 25K, unti it does, you don´t have anything else to talk about. Try joining in a discussion here, instead of just trying to convince yourself of your trade, which is what it seems like to me.

  19. Anthonyo

    If we break UP above SPX 2720, then All Clear signal.

    Wave 4 up now.
    Retest of lows of Friday, or may have already made the bottom? You be the judge.
    A move to tag SPX 2530-2630 low, or it could clice down through it in a Wave 5 further decline.

    DJIA > 25,100 for All Clear.
    NAZ >7075 for All Clear.
    as high as 7800 afterwards. It will be a slow move up.

    ———-
    Downside:

    — DJIA has not tagged 12 mos MA (around 22,800)
    possible: 22,000 to 22,500 to 22,800

    — SPX tagged the 12 mos MA but,
    SPX 2530 support.
    if break below 2530 will get ugly: we could go down 20% total top to bottom.
    SPX Weekly chart: 2511, then 2400, 2336 (18% correct), 2240

    — NASDAQ has not tagged 12 mos MA (around 6500)
    Support 6700 if break 6553(200 DMA), then 6500.

    ———–
    Oil >> Above $61.08 will negate the downtrend somewhat.
    if we break below $58 then $54-$55.(half way back the $22 rally from $44).
    If stocks go on an extended 5th Wave plunge, then Oil towards $49.

  20. Anthonyo

    Hard to say of Wave 4 Up is done yet or not….
    Positive all now.

    Will monitor for closing or holding LONGs.

    1. carlvan

      You keep coming back with this 4th wave; I respect your opinion whatever it is, but would you please care attaching at least a chart with this count? You might have done so already but then I missed it.

  21. Gary Post author

    Folks many smart people get caught in bubbles. Newton got caught in the South Seas bubble. Drunkenmiller got caught in the tech bubble.

    Just because a smart person likes something doesn’t give it legitimacy. Just because Arizona passes a law enabling people to pay taxes with bitcoin doesn’t mean it’s going up. More than likely it just means some of the politicians in AZ own bitcoin and would like it to go back up as well.

    I’ll say it again. Governments simply aren’t going to let every Tom, Dick, and Harry create their own money. Bitcoin doesn’t even do what it’s supposed to do. It doesn’t facilitate money transfer. The fees are way too high and the process is way too slow. It’s apparently easily hacked. There’s no FDIC insurance if someone steals your beans, and we already have governments starting to outlaw it.

    1. Jim Dandy

      Energy used to ¨mine¨electronic tokens just passed total household energy use in Iceland. And nobody knows who invented the greatest currency ever, give me a break!

      1. ziasDad

        I hear you about the energy use, but IMO it’s a red herring. If we’re going to complain about how much energy BTC uses for mining, wouldn’t we need to compare its energy usage to how much energy our legacy banking system uses? Our banking system that produces no product and its only service is debt enslavement and the debasing of our money supply?

        (I own no BTC and may never own any, but watching its price action from the sidelines has been enjoyable 😉

    2. allthatglitters

      I agree with Gary, if you look at Bitcoin logically, from every angle it fails. It is not the wave of the future. If you must do cryoto there are coins with more potential.

      One thing that gets missed though, is that Bitcoin will probably continue on for many years as a currency for those engaged in illegal activities. Because those folks are already involved in much worse things and won’t care if it is declaed illegal. As such it probably won’t reach zero but will settle down to who knows, $50? $100?

    3. Anthonyo

      Bitcoin was simply to get the masses used to the idea of a digital currency. Cash will be finished in the TPTB grand plan. Then afterwards, teh Fed US gov will usher in their own “safe” digital currency backed by US gov. We will have no choice but to convert all paper money, and other crypto currency we may have into the new US gov digital currency.

      Bitcoin was a test balloon to work out th ebugs in the main presentation which will come in future.

      1. allthatglitters

        I agree! Bitcoin has stayed legal only b/c the gov wants it to play out and observe what happens, what works and what doesn’t etc.

    4. MrBurns

      Governments also are passing laws so that the citizens can legally get high.

      What better way to control their minions: here’s your booze, here’s your drugs, here’s your sports channels and celebrity wives shows, now shut the fuck up and pay taxes you mindless drones.

  22. Jim Dandy

    I apologize to Americano for being so rude, two others pointed it out, so I must be wrong. I still believe my points are valid, nobody would want to hear me say ¨GDX to $82 by June. Oh Lord, forgive those rubes who don´t understand how dumb they are compared to me, who can´t see what I see…cryptos suck, cryptos suck -This is your captain, signing off from Apollo 9¨, and repeat it day after day, with absolutely nothing else to say, nothing serious, and no new insights.

    Still, that is no excuse for my delivery. I hope Americano brings something to the discussion, and realizes just claiming to be right dosen´t make it so. It wouldn´t kill him to admit he wishes he sold bitcon at $20K, either. It might help him regain his balance so he dosen´t have to ask us to pray for him!

  23. Gary Post author

    If we close green today and again tomorrow we will complete a 4 day rule potential trend change.

    Four days in a row against the larger trend often signals a trend change.

    1. Bluebellkid

      The rally that started during lunch is petering out. Markets rallied more than I thought they would and I got into my positions too early. I’m still in but wont make much if any on the trade provided the pullback continues until the close.

      1. Gary Post author

        Wouldn’t it be safer to play the long side if this is the initial rally out of an ICL? They can be quite powerful during the first 10-18 days.

        1. Bluebellkid

          Just a day trade. We are still in a downtrend until we aren’t and typically the day starts out up and then loses it all. Today it started out really weak and so I thought it might end even weaker and bet on it. As I type it is moving up again so will bail here soon with a small loss.

  24. Gary Post author

    Folks currency has been mostly digital for decades. Bitcoin is nothing new. Just a much slower and more expensive way of doing what we’ve already been doing for years.

    What caught most peoples imagination was the idea that they could somehow avoid government and create their own currency.

    I think I can say for all logical people around the world, governments aren’t going to turn over the printing press to their citizens… ever!

    Granted governments haven’t been great stewards at maintaining currency purchasing power, but if you really want to see a currency go down the toilet in a hurry just turn over the printing press to the general population.

    1. Anthonyo

      Yes Gary, exactly right.
      And that’s why IMHO the gov will come forth with their official digital currency “FedCoin”?….which will replace all paper cash and will pay 1-to-1 for any other crypto currency anyone may be holding.
      This way all transactions will be fully visible and hence taxable.

      1. Gary Post author

        So let me get this straight.

        The government is going to create a digital Fed coin. I don’t see the need for this by the way as they already have the dollar that’s been around for decades and is about 95% digital anyway. But just for the sake of argument let’s say they decide to jettison the dollar and make Fed coins convertible to all other crypto currencies at a fixed rate.

        That would mean I could just magically create a savage coin out of thin air and award myself a million of them or if I would rather be a billionaire I’ll give myself a billion savage coins. Then I trade them immediately for Fed coins and I’ve instantly become rich without ever having to do any labor, invent any product or sell anything.

        Does anyone else see a flaw in this scenario?

          1. Anthonyo

            I love the sound of a “Savagecoin” has a nice ring to it.
            And your perpetual digital coin machine too.
            Whatever they do, they will close all loop holes…Government is great at leading the cattle through narrow passages into the stable and closing the gate behind them. 🙂

      2. Jim Dandy

        Apparently that is another problem, nobody is paying taxes on gains they have made on electronic tokens, yet one more great excuse for the Feds to squash the whole ¨make your own currency from home¨ project.

        Savagecoin, symbol SVG, get it in the ICO for only $35 a piece. ¨Mr Savage is a seasoned player in the financial markets with a stellar track record of pulling vast wealth from the markets, all of which has nothing to do with the coin at all. Don´t miss your chance to own a piece of nothing, and make him rich!¨

        1. roadrunner

          Not Americans. The US crypto exchanges have to provide all US citizen and residents info to the IRS. All US persons are required to pay capital gains.

  25. Anthonyo

    The more we hang around bobbing up and down below Dow 25,100 and below NAZ 7075 the more risk of sudden turn down…. this market has been dilly dallying since yesterday before closing.
    Im not getting a warm feeling on this.

    Either it’s base building for jump through resistances, or Wave 5 down could start any hour/day.

    1. Gary Post author

      I think it still remains to be determined whether we really need a decentralised ledger system.

      It may turn out to be a solution without a problem, similar to 3D printing.

      1. BeachandBiscuits

        I can agree on blockchain, though I think it could be useful.

        Strongly disagree on 3D printing however. 🙂 It’s still in its infancy, but will revolutionize parts of our lives.

        They are starting to 3D “print” organ structures and the uses for organ transplants, orthopedics, etc. could be huge. Also, it could revolutionize manufacturing by eliminating the need for large inventories of some finished parts/ products and/ or enabling economic mass customization of some products. They’re even 3D printing house components, to quickly make houses for assembly.

        It’s very early, but it will be revolutionary IMO.

    2. Jim Dandy

      Nobody said the technology isn´t here to stay, we said the technology is open source, so anybody can copy it, thus your tokens are worthless. They are not backed by anything, no revenue, no laws, nothing at all, and there are tons of new ones being issued almost daily.

      The tokens you guys are buying are not the technology, they are just an application.

  26. Anthonyo

    SELLING UDOW now.
    Keep gains until this things figures out which way it’s headed.

    bought 86.86 sold 91.00 exactly.

  27. Gary Post author

    The McClellan oscillator continues to chug higher and the smart money confidence is extremely bullish. This is one of the few sentiment tools that has an almost flawless record of spotting bottoms.

  28. Bluebellkid

    GDX appears to have put in a bottom last Friday. It touched 20.84 and rallied to close the day at the high of the day and volume was the heaviest since June 14th coming in at 101.76 mm when it normally trades 41 mm. The low Friday was the lowest it has traded going all the way back to December of 2016. Since the low Friday was lower than the low in December of 2017 it appears it could qualify for a double bottom base. With it taking out the low of December 2017 the chances of a rally succeeding are increased because the weak hands bailed at the December low level and there aren’t as many investors left to create resistance or selling pressure.

    1. jacob2

      3 major gold miners are reporting in the next few days. Should move the needle for the sector if they are Positive. Base metals continue to out preform (own some). Inflation got to show up in the PM’s at some point. The waiting and accumulation game continues.

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