214 thoughts on “Within a day or two of the bottom

    1. Gary Post author

      16 times during this bull market I’ve warned people not to panic during ICL’s. 16 times I warned people I was going to say “I told you so”.

      16 times almost everyone ignored me…

      and 16 times I ended up telling everyone I told you so.

      Shall we make it 17?

      1. Gary Post author

        This is why I make money in the market. More money than almost every hedge fund. Because I do the opposite of the crowd. When others are scared I’m bullish.

        With the VIX spiking 115% today I’m bullish.

        It doesn’t mean the bottom will occur tomorrow. But it does mean that 6 months from now I’m going to have a lot more money in my account while most of you will have made nothing.

        You will have sold when you should have been buying, and having sold at the bottom you will remain fearful way too long and miss most of the next rally. Just like you do out of all the ICL’s.

        Emotions are tough to control. It’s why most people are unable to make any lasting gains in the market, because most people are incapable of fighting their emotions.

          1. Gary Post author

            Heck we’ve been long every since the August low. Remember when everyone was predicting a September or October crash?

            Everyone stayed on the sidelines worrying about an event that was never going to come. Why? Because the ICL occurred in August. September and October were way too early for another ICL.

            Now everyone is going to panic at the bottom just like they always do at ICL’s, Then they will miss most of the next intermediate rally.

            You watch if we gap down tomorrow the blog will light up with calls for a crash. Traders will be selling left and right. The correct strategy will be to buy left and right.

  1. GMoney

    Crashes from a 3 standard deviation level above the 200 day don’t end so nicely. There is much more downside left and an enormous amount of leverage in the red that needs to be resolved. People are too complacent about this crash and assume is will pass soon. Mean reversion is very very painful at these levels. – by the way futures limit down as I write this.

        1. Gary Post author

          Again not the same thing. Silver was at a parabolic top stretched far above the 200 DMA. 81% above the 200 DMA.

          At the recent top the Nasdaq was only 17% above the 200 DMA. Clearly not in a final bubble top.

          1. GMoney

            Gary, I talking standard deviations – not % above the 200 day. Find your statistics textbook and refresh you memory on standard dev.

          2. Gary Post author

            I’m telling you we aren’t in the kind of environment to get another 87 crash. Sentiment is becoming too bearish too quickly.

            We are creating a bear trap and one that will almost certainly reverse violently causing the shorts that get trapped maximum pain.

        1. Gary Post author

          Options are like going all in on a poker bet.

          The most important rule is to always always buy way more time than you think you’ll need just in case the move takes longer than you expect to play out. I wouldn’t buy anything closer than September expiration.

  2. Gary Post author

    We are creating a monster bear trap. The rubber band is getting pulled far to the downside. Once the pressure is released we are going to get an extremely violent move back up.

    This is not the time to be short.

  3. golddigger

    This is a traders dream folks…step back and remember when you wished there was a pull back in the market to enter? HERE IT IS! Of course my initial punts are down 50% and I want to puke. That’s a sure sign it’s Time to buy…my TDapp locked up in the panic but I still managed to add to my UDOW calls and that ‘add’ has already gone from 1.40 to 2.50. This is a what I call a WASH to scoop up all those neatly placed stop loss orders and nothing more. stocks and bitcoin dropped and gold didn’t move today…this is a fake out and a big one but still a fake out

  4. jacob2

    INFLATION:

    As previously posted won’t be buying the general market until we hit 2500 or so on the S&P. The way the market is unraveling that could be tomorrow. However, sold DUST and ERY my commodity hedges for what I still hold (old turkey) and will now be adding to miners, oilers and industrial metals and maybe grains. Most held up well during this downdraft. Inflation the next big market theme. Want to be positioned with size.

    Good luck in these interesting times.

  5. Jimsee

    this one does look different imo – the timing is bad juju , ‘they’ will likely put it back together *eventuallly* – but maybe months spent convincing everyone it won’t FIRST.

    This could well be politically motivated – throw out all you think you know in that case – like gold for the past 4 years or so – they will run their game till collapse because in their minds they still get their pension ‘no matter what’.

  6. Jimsee

    like the old wall street saying – valuations do NOT matter until they do (earnings growth stalls and stock prices lose momo).

    10% correction in 5 trading days – if it goes materially lower than that it has a real good shot at starting the loss of confidence stage – it’s been a DAMN long wait.

    This is what comes of burying our collective head in the sand ‘as long as I gets paid’. eventually the corruption simply implodes in internecine warfare.

  7. Don

    How much the S&P futures are down in after hours trading doesn’t mean a damm thing, UNLESS the PPT declines to step in and buy before the American exchanges open in the morning. Remember, they have unlimited funds and if they fail to intervene, that would be a good indication that there is a different attitude at the FED towards supporting the markets at any cost.

    1. Gary Post author

      This is a YCL.

      The last really scary one came at the 7 YCL in Feb. of 2016.

      We are getting the 2018 YCL in the same early in the year time frame. Since we didn’t really have any scary ICL’s in 2017 we are making up for it this year.

      I’ll say it again, when this bottoms it’s going to be violent.

  8. chrisG

    Guys, Gary will eventually be right. But from what level? His max upper channel trendline certainly looks to be working out fine. The right translated rally corrections wouldn’t be too deep certainly is working. Lol

  9. chrisG

    Trendline level for Spx is 2700, futures is at 2500 ish. That’s around 2000 Dow points! Yes, that’s right. Gary is still right, and can laugh you clowns??? Hmmm…. How do call this a good call?

    1. Gary Post author

      I expected at least a pullback to the trend line breakout. It has gone further than that yes. But the big picture hasn’t changed.

      The Nasdaq is still going to 10,000.

      When we bottom and then go back to making new highs will this be a good call?

      Or do you require perfect timing for every trade no matter how much money we make in the end?

      If one has to weather a 30% drawdown on the way to making 100% is it a bad call?

      1. Christian

        It’s not a bad call just unfortunate timing and as long as you’re trading with the trend than a 30% drawdown is somewhat manageable.. unless you’re over-leveraged.

        1. Christian

          Yes, if you’re leveraged to the hilt — it sucks!

          This is why ‘position sizing’ is so important and why it’s important to always keep a bit of dry powder on the off chance we get a ‘clouds falling out of the sky’ type of event.

          Bare in mind that back in 2009 a lot of folks where still heavily invested in their mutual funds from top to bottom and have since recovered. It’s a difficult pill to swallow but as the saying goes — this too shall pass.

  10. bluebull

    Liquidity has taken a huge hit today. There have been big gaps in the bid/ask on /NQ all day and it continues tonight. The short volatility unwind is really exacerbating the move down. And now we have a lawyer running the Fed. This won’t be the typical ICL. More like dislocation.

    1. Christian

      That’s because your “trading” methodology is different than mine. I tend to focus on the big picture and don’t get scared very easily when the market turns.

      Today’s nasty turn has all the characteristics of a shakeout and I’ve already seen my fair share over the past decade.. That’s why I bought more shares today and will buy tomorrow or the next if we gap down.

      Again, this is why it’s important to study Market/People psychology 🙂
      Yes, it’s tedious work but it pays off, especially when you’re trading a large account.

          1. Anthonyo

            Agreed; it seems The Dow is the flag bearer(no pun intended) of the move down… as it was also the leader in most recent gains as of 3-6 months.

  11. Anthonyo

    The current minus -550 Dow futures is less than half an hour ago where it was at -720 deficit …………..This deficit could evaporate in Daylight….. We have seen this happen before…….
    The energy down is spent overnight in Futures………..Once it sees day light it rallies…………Let;s see if it happens again…..

    Also, NASDAQ is not cooperating and is down just a bit : NASDAQ futures are down 8 times less than Dow Futures in % terms.
    This what you call divergence between indices.

    Traditionally NASDAQ has pulled the Dow and SPX behind it in line.

    ———

    OIL: What I cannot understand is why Oil is still above $60? It is mind boggling.
    Perhaps Gary could shed light on this oddity.

  12. jeremyl

    Gary what are your thoughts on the dollar during this big correction in stocks and massive crash in the crypto market? I’d have thought the dollar would be rallying very strongly given that a lot of the liquidity from stocks and cryptos is going into the dollar, but the dollar isn’t rallying much at all.

    Cheers Jeremy

  13. Gary Post author

    One of the hardest rules I had to learn early in my career is never never never sell during a panic. When the VIX is over 30 this is not the time to be selling. It’s the time to buy.

    1. golddigger

      All green now on futures….could it really a two day rinse? Naaaaahhhh that would be too easy. Interesting if the euro rally’s and the dollar dives and the SM goes up 3%….

  14. Jim Dandy

    After going to bed with NQ futures down 2.5% more last night, I´m a little surprised to see them up .8% at the moment. Maybe Gary will be proven correct again?

    Well today is Tuesday, and last week I mentioned bitsploink tokens would go to $6K by today, and as I type it´s trading under it, with not morethan a half hour bounce all along the way. Nobody but a few fools want this now, and the only think bagHODLers can do is take the exit on the next bounce. The only problem is a $1000 bounce now will seem like nothing to a bagHODLer, but they might not even get many of those being they would now be 20% moves, so they won´t settle for that, and thus ride their imaginary beans straight to $3 each.

    They are so in love with their beans, they wouldn´t even sell right now at yesterday´s price of $7700, as I said they would soon wish they had. There should be no doubt in anybody´s mind, ¨secret tokens¨are cooked or many, many years, IF they ever get off the floor again, just because of the fact nobody considers them anything more than a gamble anymore, maybe speculation for a bounce but not an ¨investment¨.

    Next target is around $2k, it could get there quickly, but my wager will be it takes awhile, maybe until mid-April, a slower, grinding deflation like a basketball that has already lost 70% of it´s air, the rest is coming out but at a slower leak. Once the shock adrenaline wears off from the cliff dive, this next stage is the depression stage, where bitclowns start to realize they were invested in the biggest bubble of all time and didn´t make a dime, nor is it ever coming back. Dazed and confused, they don´t know what move to make next so will sit with their near worthless beans quietly forever.

  15. Alexandru Popovici

    DCL of SM is round the corner indeed but:
    – all European indexes are in confirmed YC decline by producing today/yesterday failed IC below the ICL on Jan2 (the Aug low was only an ICL, not YCL),
    – European indexes are early in their IC – merely week 5,
    – US indexes require another failed DC giving the level of extreme selling –> mot likely a short DC to extend into the first week of March.

    Thus, this is not just an intermediary decline but Yearly Cycle decline and the YCL of SM is more likely to occur in early March after the dead-cat bounce to come these days.

    1. Alexandru Popovici

      …Furthermore, look at FTSE, it went below the ICL in September!
      By taking its lead and the fact that world’s SMs are in YC decline, we can infer that the bottom in March will be below the Aug ICL.

  16. Gary Post author

    During the 2000 bubble the Nasdaq dropped 10% in 3 days into an ICL. It didn’t signal the end of the bubble.

    As of yesterday’s close the Nasdaq was down 7% from the all time highs. It only seems bigger because we’ve had such a long period of calm. But in reality this isn’t that big of a correction. The flash crash, QE 2 crash, and the 7 yCL were all much bigger in percentage terms and none of them signaled the end of the bull market. Even both ICL’s in 2014 were larger than the current ICL.

    1. Alexandru Popovici

      Monthly swing high in SM.
      I am not suggesting an end of the SM bull; I am only proposing the idea that the DCL set yesterday (most likely) is not the bottom of this correction because this correction is an Yearly Cycle decline.

      1. Gary Post author

        The only problem I have with a retest or undercut is the daily cycle is on day 55 and the weekly cycle on week 24. A lower low in March would really stretch those cycles.

      1. Nada

        Down futures were down 450 pts and then spiked to only 50 points down. Looks like they are trying to gain control, but volatility is flipping the middle finger. I suspect that’s where the battle will have to be won to gain control. With that said, those who thought it was a sure thing to short volatility yesterday, are now bankrupt.

        I think it’s pathetic that government has to hold the children’s little hands in the markets and buy futures.

        1. Nada

          Gary, if this is ICL, why do you think it’s going to end in 2 days? ICLs last weeks, not days. I will wait for the swing before entering as I am in no rush to pick the bottom – I only do that in gold 🙂

  17. Alexandru Popovici

    Gary, yes, you are right, this daily cycle has to end.
    I was considering having one more daily cycle, a short one, topping at the end of next week (around FED’s Congress report) and then aggressively moving down into jobs report in March –> extending the Intermediary Cycle with just +4w into YCL.

  18. vand

    Gary, you must at least consider the possibility that we have just seen the peak of the multi-year bull market, and the Trump melt-up was the euphoria phase. I know you are a technical analyst, but stuff like on valuations, for example, the Buffett Indicator hit a record 159% on Jan 29th. Even if it is an imperfect indicator, it would be irrational to expect even more extreme deviation away from the long term mean.

    1. Jim Dandy

      LOL, I don´t think the buck makes a bit of difference at this particular time, people have plenty of other areas stealing their focus. I haven´t even checked the buck, with all the action we´ve been seeing!

      1. Nada

        Oh it does. If you believe the markets will calm, then what do you think will happen when gold snaps out of the dream state? Its going to awaken to the horror of a whistling Dixie and loose it’s shit. Granted, we first need the markets to calm.

        Personally I would rather see the markets lose 3000 dow points to make me happy, but that’s because I love the bear. Bear markets are much more fun than boring bull.

  19. Syntax

    Long time lurker, but just noting that Avi, Gary and even the likes of Cramer are all saying buy the dip here. Seems like most analysts are treating it as such, which is unusual to say the least.

    1. Gary Post author

      Many of us have been pointing out for a while that the true value of bitcoin is 0. It’s a grand Ponzi scheme that anyone with a lick of common sense should have been able to see. But clearly we are no smarter in the 21st century than we were in the 15th.

    2. RTTPD

      The more often Cryptos/bitcoin are transfered, the larger the ledger becomes and more work for the miners to do to get paid.

      It’s my belief that the unintended benifit of Cryptos is technology that will make the cost of electricity much cheaper in the future.

  20. Nada

    Definitely the markets are being managed this morning. Have to save the little children from mean ol bear. Looks they have started to attack volatility to gain control.

    1. vin

      I put an order to buy LABU at 79.79 ….. missed it literally by 2 dammed seconds!!!!!

      … thought of you as a day trader and the split second action needed!

      Enjoy the ride today.

    1. jacob2

      YEs, to the rally. THe question is what happens after? Business as usual with the NQ Blasting off to 10k or rally and a long consoilidation process digesting the damage done. Fan of the later. Commodity stocks are now a the best bet with inflation creeping into the markets imo.

        1. ras

          Let us first do some basing action and let the mas on intra day charts acquire positive slopes. When the time comes, it will move. There are no magic chants that can move the market before the time comes.

    1. Gary Post author

      I said on the premium site I would not be doing anything with the metals right now, because there is the possibility that the dollar may be putting in a final ICL.

      Now is the time to focus on the stock market as it completes it’s YCL. There will be many weeks of rallying ahead in that market once the YCL is confirmed.

    2. Spanky

      There is plenty of room for more pain with the dollar coming out of an ICL. Silver is going to new lows and the pathetic commodity rally from late 2017 is over.

  21. Don

    And just like that , anyone holding XIV gets stabbed in the back with locked in and massive losses. Neat trick for Credit Suisse that ensures they aren’t the losers. Billions of dollars gone in an instant and overnight yet. Anyone that thought ETN’s were ‘safe’ investments has just found out otherwise.

    1. Gary Post author

      The VIX etf’s are tricky. I learned my lesson several years ago on those. I no longer trade them at all. I’ll let others dabble in the vix. Just like I’ll let others play with bio.

    2. trendyfollower

      If you want to continue playing the short vola, take whatever the NAV of XIV is 2/20/18 and buy SVXY. Seems this one will continue to trade and both are doing the same thing.

  22. palobar

    GOLD = 26-27 March

    I will be very busy later so just in case I forget to share it. Mark this date on your calendar. As for the time windows before that, I will share them shortly.

  23. Gary Post author

    I tend to think we did print the YCL this morning, but either way we saw how violently the recovery is going to be when the bottom is struck.

    Like I said this is going to set up a huge bear trap and the next phase of the bubble will be even more aggressive than the last one.

    1. Robert

      Maybe so. But if USD did a ICL then that would mean that gold next daily cycle could be shortened one and we left translate? Maybe gold Intermediate cycle has alrdy topped

  24. bobbington

    I am shocked, but not surprised that XIV tanked so much that it will be shut down. I mean I planned for it to potentially happen, but it’s kind of crazy it actually did! I had been investing a small portion of what I own in XIV, but after the ferocity of the selloff, liquidated my holdings before it really tanked. Very glad I did! This selloff is so fierce, I have a feeling today is not the last of it. Seems to me like tomorrow may be the day.

    1. ras

      Not sure about the rate of recovery. Let us leave it to the market. tqqq made a complete retrace to 138-140 area, early Jan level. Folks who got in around this range should do ok over time.

  25. Gary Post author

    Going climbing. Will see where we close.

    I don’t need to watch the wild swings today as we try to print a final YCL.

    Keep in mind at this point the total decline was only 9.7%. There have been 5 corrections during this bull that were larger. At this point it only seems like a major crash because we’ve had such a long period of calm. But in reality this is just a pretty normal YCL.

    1. Gary Post author

      I think traders should stay away from gold right now. The dollar may be printing a final ICL. If it is then gold is going to struggle until the dollar tops.

      The place to be is in stocks as they are in the process of making a major YCL.

      Gold is in no man’s land here with a potential short cycle maybe topping.

  26. Americano

    Nada asked about Ted the other day.
    I said that Ted was fine & on the Mayflower,
    That was wrong of me to do.
    I had no right to speak for Ted. Who am I to take away his agency?
    That’s the OPPOSITE of Bitcoin,
    So while Ted is on the Mayflower, I assume he is fine as there really is only one way out.
    Total Glory ( $25K June , 50K EOY) or doom. I am looking forward to the upcoming new moon that will work like a Bloody Mary after this horrible January hangover.
    I’m stoked & appreciate the fact you are all doing YOUR prep work for being happy for me & all on the Mayflower this Spring.
    Thanks Again !

  27. Anthonyo

    So they HALT trading on XIV ! Shouldn’t that be ILLEGAL?
    I sure hope there will be a Class Action law suit on this to the highway robbers in charge of XIV.

    1. Spanky

      Uh, they have something called a prospectus that lays out all of the risks in bloody detail.

      You play with derivatives like ETNs and ETFs and you are assuming risk way beyond the underlying.

      1. Anthonyo

        ForgetAboutIt, they should still be sued. Prospectus my ars. Ohm there must be many ways to get them, not only one. All you need is a resourceful legal team.

    2. MrBurns

      XIV VXX have been known to be bullshit and garbage for a long time, even Credit Suisse in their prospectus says DO NOT OWN MORE THAN ONE DAY.

      Why do people buy these? Because they are idiots thinking they will make quick money.

      VIX itself is tricky to trade, the long side works out with proper timeframe and timing, downside puts WILL DECAY LIKE YOUR BURIED RELATIVES and unless you have a butterfly setup, just stay out of this.

      Class Action suits will be thrown out if anyone is foolish enough to try them, it’s all outlined by the issuer, plainly says to expect this to unwind to $0.00.

  28. Spanky

    As usual the miners ignore any sense of support from Fibonacci levels. Blows right through them.

    If the next DC in gold is left translated, the miners are absolutely screwed.

  29. Anthonyo

    A Leaky balloon: It gets air inside of it, stays inflated for a bit, and then slowly deflates….

    SUCH is the status of today’s intra-day stock mini-rallies.

  30. isavage

    Nada – Your exit of JDST but not looking to long JNUG? we just hit the 78 Fib. Gary also seems reluctant also, that’s a surprise as he was calling the bottom for PM’s & miners in this week few days ago.

    So what am i missing??

  31. Bluebellkid

    Well, I started buying this morning and man has it been a roller coaster. Only put about 1/4 of my money in and was up over $4000 and then that turned into a $10,000 loss only to come back and be up $4000 again. Currently up $2000.

  32. Nada

    Afternoon isavage. Well for me, I wanted to lock in the profits I had from JDST. I was long from around 50, so a 10 point move was good enough. I think gold has further to drop, but with the markets acting squirrely, I do not want those profits evaporating in case the sell off is not done and gold is bid up on fear.

    I think the dollar is coming out of an ICL and if that is true, then we could have a failed cycle. However, the dollar is not acting the way I want at the moment, but not interested in taking gold long. The previous IC had one good daily cycle and the rest of the price action was complete garbage.

    1. isavage

      Interesting Nada – your right it’s not a time for complacency for sure 🙂

      Thanks for the feedback seeing Gary is apparently out on the rocks someplace lol

  33. Anthonyo

    Caveat:

    It seems now we have the possibility of a Fed+mega banks collusion to hike interest rates fast and high….which may cause a bond market crash…
    It’s political collusion against POTUS.

    Can we discount this as traders?

    1. BeachandBiscuits

      Nah, I don’t think so. Fed doesn’t want to be blamed for crash (e.g. calls to audit them have not gone away) and POTUS could paint as hurting economy. Eventually they’ll raise enough it hurts, but IMO they’ll keep a slow and steady pace unless inflation starts to pinch consumers obviously and enough they squeal to Congress (IMO it’s there, but most haven’t caught on it seems) .

      Plus, if we really are in a bubble it will be over so soon it won’t matter what they plan anyway lol.

  34. Don

    I just picked up some HVI @ 2.15 (Toronto exchange), a Canadian inverse volatility ETF that moves the same as XIV and SVXY. It’s down 83% from yesterday. If the market recovers these inverse volatility ETFs should make a sharp move up.

    1. Anthonyo

      I agree, but it is Wave 4 UP which is messy , wave 4s are messy.

      Wave 1 down Last Tuesday
      Wave 2 up last Weds &Thursday
      Wave 3 down Friday, Monday
      Wave 4 up now.(sort of mixed, messy)

      Note: I never understand what Avi G writes… He is very myopic and microscopic in his approach to EWT…Boring in fact…..90% of the readers get lost half way thru his convoluted articles. And to be sure, he is a horrible writer literally as well! lol.

  35. Anthonyo

    This is all we needed…Just In: Trump is saying he would love to see a government shutdown if no deal on DACA/Wall.

    As if this market needed more worries?

  36. Anthonyo

    If they go to war all the way with POTUS, they will shove the bond market off the cliff… it will cause stocks to crash……and nasty effect on economy and Trump will lose mid-term elections in November to Dems BIG TIME.

    You see, the Mueller thing, even Dems realize it will not go anywhere or bring Trump down. so now, enter the “going through the fire together” phase of toppling POTUS.

    So now, these are the Big Boys: Mega banks & Fed colluding against Trump.
    Trump took one of them, Wells Fargo, and executed it in public recently.
    Lots of Wells Fargo branches closing around here. He killed one of them already made an example, showing off the cut head to public.
    The remnants of Obama Dem Fed elements and Mega banks are thirsty for his blood, to be sure.

    IF it goes to war, shortX3 Bonds, short stocks, shortX3 Oil…
    go long PMs.

    1. Anthonyo

      Nada,
      Have we in fact reached the golden ratio .618 fib line?? Truly?

      Well there is always 100% fib line too , right? lol

      I suggest you retain your wet dreams for more pleasant things, Sophia the AI robot comes to mind….. LOL.

      1. Robert

        Haha you are right about Avi. Now the big question is this just a DCB on SPY to wave B? Or is it ICL about to rocket launch to new highs? Maybe take some profit along the way to b safe

  37. carlvan

    I am long NQ and already 80 points higher; placed a trailing stoploss somewhere in between; sent to Gary for the Challenge but he said options and futures not allowed. I also bought TQQQ at 147.70, now at 152.90.
    What a ride indeed ! Hopefully this holds and no pullback, then I could make it to “10k piece of cake” (and no idea how that would be for TQQQ). If we still have a C wave to come as some are warning, well I will exit at a profit at least.

  38. Spanky

    The worst sell off in the miners in about a year. Lots of technical damage done here obviously. Such a fool I have been for holding on to these stocks for such a long time. While I recognize the DCL could come any day now, its what comes after that bounce that scares me.

    Unbelievable that commodities are at 50+ year lows while the stock market will be going to unheard of heights shortly. I wonder is there has ever been a point in human history where stocks have achieved valuations like this relative to commodities. To add insult to injury, there is a very real possibility that commodities break down here after going sideways for 20 months.

    Wow. Just wow.

  39. Anthonyo

    GOLD taking it on the chin with surging Dow.

    So let me get this straight:

    Gold goes down, when stocks crash.
    Gold goes down, when stocks surge.

    Hummm, curious…I will get back at you.

  40. carlvan

    Gary: thank you; you gave me the courage to launch a decent position on NQ, when all news are on crash-mode, and I am already 100 points above entry!! I secured the position and can’t lose. Now comes the most difficult: hang on until 10k or above…

  41. roadrunner

    So did everyone (except spanky) buy the dip in the general market? Gary was begging everyone to get in. i sure did. added some to long term account and picked up some short term plays with the Q’s.
    @spanky…see here is the difference between me and you..Silver held up like a champ today! We most likely have a short term bottom in PM’s, or maybe one more day. maybe gold down to test 1300… long term everything still looks fine. miners, well there just being Miners…LOL

    1. Spanky

      Like I said it’s the bounce out of the DCL in metals that worries me. I assume the worst of the decline for this DC is likely over. Silver weekly chart could easily break down, and it will get very very ugly. Commodities (GCC) are in the same boat.

      1. roadrunner

        i don’t see silver testing last years lows. But who knows. Lots of BOW in major miners so a bounce is due. I agree about how the 2nd DC goes. maybe we push over 1400.

      2. RTTPD

        “Like I said it’s the bounce out of the DCL in metals that worries me. I assume the worst of the decline for this DC is likely over. Silver weekly chart could easily break down, and it will get very very ugly. Commodities (GCC) are in the same boat.”

        You’re turning this into a self-fulfilling prophecy by being so negative. You need to relax. I’m starting to wonder if sunshine profits sent you here to jinx us.

  42. ras

    nice close for tqqq and hqu.to, cdn counterpart of tqqq. Hope fully, players took advantage of the entry point around 2:30 pm today. So, it is mountain climbing competition between nas and Gary.

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