Rick’s Technicals for Wednesday
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This editorial was recorded at 8 a.m. A lot has happened since then. We will be back with you right after the market close in the U.S.
Lawrence……I agree with you…………….”correction is LONG LONG overdue”…..J..the LONG(not the dow)
rick is right.Treasuries and the usd are the place to be atm.Regarding the stock market;momentum indicators have turned bearish.Rsi has turned bearish too.I wont bet my farm on higher highs at this stage.Risk reward is too high.
The Fed has two enemies: gold and deflation–thus, a rock and a hard spot. So how do they avoid deflation without creating turmoil in monetary exchanges and global trade–and how do they avoid inflation without gold ultimately gauging it and discrediting their monetary malfeasance?
Hell, I hope the conventional market does collapse big-time from here. Only means I’d buy more of what I like. As long as the world doesn’t end, I’ll be golden.
Quite a contrast to Gary and Rick Ackerman. They sure can’t both be right.
Gary’s point about a short term bottom and then 4-6 weeks of a grind up in the market could just be the first bounce in the general stock market bear market that Rick is referencing for the mid term.
Rick, you finally got what you want. Correction is LONG LONG overdue. Do you think the bull market ends here? But I don’t think so. Hope you are right so this junk market is behind us. It creates moral hazard. People think they can get rich by speculating instead of producing.