Our busy day starts with Gary Savage
Click download link to listen on this device: Download Show
Gary Savage – “Looks like I called another intermediate bottom ……. When the next bear market begins no one will spot it … except maybe me.”
a classic self-servingly blind ego-maniac … after all your wrong calls and your manipulation blame-game excuse for missing the entire gold/silver bear, a mere speculative guess out of thousands of such wrong guesses is used to proclaim that only you got it right & only you will get it right next time therefore you are the self-proclaimed king of the universe
the term Napoleon complex comes to mind
It just kills you when I spot these intermediate bottoms doesn’t it 🙂
BTW this is why I use cycle analysis.
Listen up, Napoleon – cycles, schmycles … I guess they don’t take into account “manipulation”, hence you missing the biggest and most telegraphed smart money dump on to dumb money in the history of precious metals.
THE ELECTIONS BOYS ! Good DOW and low OIL !
GARY SAVAGE i Never tell a calapse ! The manipulators play US !
ALL IS PLANT ! THE WOLD DON’t END OK ! MUCH HUMANS WILL DAI !!!!!!!!!!
I think that the elections will be going, for the most part, to the Republicans.
Harry Dent on Varney this morning advising we have a top and 5800 is in the cards. He also thinks we will see 740 Gold….
I do remember yrs ago when he predicted 36,000.
Ron,
I’ve noticed that Dent is a very emotional type fella. He tends to buy into trends big time right before they turn. Of course I guess you could say that about just about everyone as that’s what causes the trend to reverse.
In order to get a top everyone has to be bullish, and in order to get a bottom everyone has to get bearish. It’s one of the reasons I like cycles. They tell me when NOT to trust my emotions.
Gary,
Thoughts on gold today? Cycle wise were are we and what’s your opinions.
Probably has one more short daily cycle down before a final intermediate bottom.
Thanks Gary..
Well said, Gary. Btw, I believed you!
Maybe he thinks gold will drop to 740 and then rise to 36K. I would take that!
Harry Dent predicted DOW 36K in 1999 and led his readers to the slaughter house. Then he predicted that market will turn down in 2010 due to demographics. However at 2008 crash, he adviced his readers to buy until 2010. Then in 2009 he turned bearish on the market low and predicted bear market for decades to come. He stayed with that prediction until now. He even wrote a book calling DOW to drop to 3300 or some lower number. His gold prediction is all over the place, from 250 to 2000 depending on which interview you listen to. I never see anyone so clueless but he might be a good one to listen to as long as you are willing to bet against him. A guy who can get everything wrong is also valuable.
I don’t read his stuff.
I guess my question is, “why do people read it”?
Game changer in a few years?
http://sploid.gizmodo.com/lockheed-martins-new-fusion-reactor-might-change-
humani-1646578094
As a former physicist I doubt this result. Fusion, unlike fission which can achieve chain reaction point at ten thousand degrees celsius, requires 10 million degree celsius to sustain chain reaction. This is a thousand time above the evaporation point of any known material. There is also no way to allow mixed hydrogen isotopes to react under lower temperation. The enegy to overcome the nuclear repulsion is too great to allow the particles to collide, which can only be achieved by high temperature. On the otherside, nuclear fission takes advantage the already unstable nuclei of uranium to add a little force to split it. Even we can achieve the fusion, how can we take energy from the source which is so hot?
Sounds like snake oil to me too.
Count me in, snake oil cures all.
I think we need new discovery before fusion gets another break through so you should see a noble prize many years before practical use, IMHO .
baldness!
Comgrats Gary, looks like you called it again. Could be a “mega” megaphone!
From here it doesn’t look like it’ll take much to achieve average annual returns from SPX. What is that usually, about 8%? That puts us around $2050 by 2015.
I think Gary is talking about a megaphone on the daily chart, not the huge one that we were discussing earlier.
http://stockcharts.com/h-sc/ui?s=$INDU&p=D&yr=1&mn=0&dy=0&id=p22337097644&a=371945539
Yes… Now superimpose that over Kimble’s and let’s see what we’ve got! 😉
All joking aside, have you ever seen a megaphone pattern inside of a greater megaphone pattern?
In any event, your daily chart makes a lot of sense especially if we’ve entered into a period of greater volatility which I believe we have.
Patterns within patterns from the macro to the micro are everywhere. Technical patterns mean the same thing whether they appear on a one minute chart, a daily chart, or a monthly chart.
I completely agree that we will see greater volatility – and for a long time.
http://www.youtube.com/watch?v=4VrcO6JaMrM
I have a new appreciation for Fibonacci. Quite the mind-bender because not too long ago it was all Greek to me.
This is entertaining and interesting:
http://www.youtube.com/watch?v=ahXIMUkSXX0
Hey that was a great link Matthew !
Gary,
Great points today..Im 100% in on the megaphone pattern and glad you somewhat feel the same. The reason i see that as well is that i see volatility picking up very fast in the next few weeks. Vix looks like ready to spike as well.
If one compares how the market tipped in 2007 to 2009 and looks at today you will the same patterns if you account for expanded money supplies.
If you add money printing the gyrations look the same except exponentially bigger both up and down…
The expanded money supply will make these gyration seven wider ad volatile. Whipsaw is the order of the year. I fully planned for this 2 week pukefest and made a bundle on the short side as the USD exploded. I also covered my shorts yesterday when the Fed guy told all they would support to the death..
that brought the market screaming back..
It is only when Jim Bullard talks and no one listens that the market will finally tip over. Draghis cred is toast – the FED is next.
Hmm according to your email you covered your shorts on Oct. 8 and went heavily leveraged long in JNUG
If 186.71 breaks on the hui we are headed towards 168 long term target. We are close something has to give.
HUI chart;
MAY HAVE, COULD HAVE , SHOULD HAVE………………………TIP the Top ,…….
The top is after the election………..the Political hacks are not going to let this market go down……
J this is 100% true. In the words of gary “Im pretty sure”.
thanks………glen………..
Gary, hats off to you because you made a great call yesterday. No question about it. My opinion is this is a time to sell Treasuries short as they have now peaked for the moment, to buy the Dow and S&P, to sell the dollar and to buy copper (yes I might be crazy on the topic of copper but I think it hit an interim bottom).
We are a long way from new highs. Don’t get to excited yet.
Peter, I agree with you
Gary what is the name of the cycle book or author you refereed to before that you read to learn cycles you talked about? Thank you in advance.
Hui got as low as 186.77
.6 shy of the gap..I smell lower lows for hui..
http://blog.smartmoneytrackerpremium.com/2014/10/chart-day-23.html