Rick and Technicals on Friday Morning
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The problem for Cecilhenry is the problem of where to go? No matter what he does with his money he is dealing with manipulation, short selling, white collar crime and a real estate market that is too expensive. Selling gold or silver won’t save him from getting fleeced. Even cash could be gone in the blink of an eye or even just cancelled because it is debt and if debt is no good then neither is the cash that is based on it. Having the metal in hand and means and will to defend it is the way to go.
Completely agree with that statement re where to go.
I’m disgusted with this parasitic system.
just abolish the FED…………and default on all bankster loans……….call it a JUBILEE , a Jubilee is every 50 years…….and it is well over due by 50 years………
Dream on, there, ‘J…. and don’t forget to leave out milk and cookies for Santa Claus, the Easter Bunny, and the Tooth Fairy….. they’ll ALL be coming by your place tonight, I’m sure.
THE YEAR OF JUBILEE………..According to Leviticus 25 verse 8-18 …… The JEWISH LAW ,,,and the banksters are mostly jewish, they should take heed ,what is required of them…..so it will go well for them……..THEY CAN NOT HAVE IT BOTH WAYS…….
IT is LAW….or it is THIEFT………….
The easter bunny……is pagan………..santa only comes once a year………..and the tooth fairy…….what can I say…………..
So where are you planning to go?
I think if it was strictly geopolitical, the markets would have corrected sooner and stronger, with the gold fear trade rebounding higher. I think this all might be related to the crumbling of the charade of the government number reliability with the GDP 4% increase in Q2 taking the cake. When trust is lost, fear abounds, which is a big part of what we saw with the Enron, WorldCom, and Arthur Andersen debacles. You may start to see people start to question whether some of these conspiracy theories may have some credence, and then who knows what the outcome of that will be on the markets.
I personally think that some of them do have credence.
Very sad but true!
I’m hanging tight waiting to see if this down wave in gold breaks much below 1280 before turning around in earnest to 1342 or higher. Gary Wagner sees this as leg C of an ABC correction of wave 3 of the uptrend that started beginning of this year. If that is true, we should not go much below 1280.
It’s a c-wave, all right, but a “c” of an “a-b-c-” correction that started at the breakdown from the symmetric triangle “coil” on May 29 and it targets $1224.
I don’t how the 1224 figure is derived, but the way Gary Wagner sees it, the current wave 3 started at 1240 and topped (at the point this ABC correction started) at 1345. A 61% (fib) retracement is 1280.
I think Rick is right that a bear market has begun, but, barring a crash, I don’t think it will be bad for gold or gold miners at all.
Now for my Formula 44-D(ow!) chart 🙂 …
http://stockcharts.com/h-sc/ui?s=$INDU&p=M&yr=20&mn=11&dy=30&id=p52263440809&a=361938023
Geopolitical events are scripted just as much as the market and market events are scripted. That’s the reality we live in. Regards the upcoming weekend show, Jew-baiting displays a fundamental weakness in character. This applies to those on this site as much as it does the CIA propaganda channels. The end result of such is a complete lack of credibility and extinction.
Please define “Jew baiting”
If it’s anything like ‘anti-semitism’ it might mean criticizing anything that Israel does, no matter how atrocious. Remember the USS Liberty. Youtube Ray McGovern.
Oil is just dropping down into a normal intermediate degree profit taking event. Completely natural. The bottom will come pretty soon and then oil will head right back up to test and probably break out to new highs.
I’d look for a bottom around the 200 week MA.
http://stockcharts.com/c-sc/sc?s=$WTIC&p=W&yr=6&mn=2&dy=0&i=p36108337162&a=362018069&r=1406921708627
i.e. ~$96
I doubt stocks are in a bear market just yet. This is just a long overdue profit taking event. Every time we have one of these the bears try to find an excuse for why this is the end when all it really is is a profit taking event. Markets breath in and they breath out.
Because it’s so late in the intermediate and daily cycle the odds are very high this will be over very quickly. 3-5 more days tops.
Now if the S&P were to drop below the Feb. low of 1740 then a case could be made for a new bear market but not until, and I doubt that level is going to be reached during this correction as it only has a few days left to run. (and the Fed may come in before the close today and terminate the correction prematurely).
Funny how it’s ALWAYS a “profit-taking event”…… UNTIL the last one… the one that takes ALL the profits AWAY!
Ha!!! Good one. By the way I am sure Monday will be an up day…just not all the way back up. Correction should resume by Tuesday is my best guess.
The thing that differentiates a profit taking event from the beginning of a bear market is that the market will make a lower low on an intermediate degree.
That means the S&P would need to drop below 1740. That doesn’t seem likely with only a few days left in this decline.
What typically will happen is the intermediate cycle will top in a left translated manner. That allows enough time for the market to move below the previous intermediate bottom. So an intermediate cycle that tops on week 26 (like this one) is not likely to be the beginning of a bear market. If the weekly cycle had topped on week 8 then we could talk about the beginning of a bear market.
We may well get a lower intermediate low in the Russell 2000…
http://stockcharts.com/c-sc/sc?s=$RUT&p=W&yr=6&mn=0&dy=0&i=p23624256415&a=361963681&r=1406921915284
And if the S&P were to follow then I would jump on the bear market bandwagon also. It doesn’t seem likely though.
This post is referencing oil but the same principles apply to all markets.
http://blog.smartmoneytrackerpremium.com/2014/08/chart-day-12.html
I don;t think fundamentals matter in a small manipulated market like the PM.
Its a mistake to think they will give much protection. Sure they can;t go to zero. But they can remain depressed and controlled for a LONG time. Waiting for a good time to readjust my positions and end the exposure to a rigged game.