Weekly Market Wrap with Rick and Doc
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IS AL OK ????? DOC ? CORY ? LOL
Big Al thought he was okay, but maybe he was wrong!
Nothing like a stroke.
On a strong day like today it can leave you speechless but with smiles.
They are trying a new technique ………..ESP………extrasensory perception….
just meditate on their faces…………… ๐ ๐ ๐ ๐ Al is the last one , he did get it.
I mean Al , did not get it……
I think you meant ๐ ๐ ๐ ๐
:_)
OK…..I have meditated on the faces and if you really get into the subtleties, they are all really smiling, but Al and Rick are more like the Mona Lisa hidden smirks:
๐ ๐ ๐ ๐
It’s the trailer for the weekend show — The show could be anything you can imagine!
PAUL AL START DRINKING WISKY !
WISKY…….is for wooses
Right, try Whiskey instead, or moonshine, or absinthe.
Or all of them. Ever had a date throw up on you after a dance? Maybe I hung out with the wrong crowd as a kid!
I did have a date or two throw up but the crowd I hung with ranged from the very studied to the very partied and everything in between. Some of the ladies could throw down, so you had to be on your guard ๐
I carried one home after a long night of boozing. That was decades ago of course. Her father was appalled at her condition but never forgot me for being a good guy and getting his girl home. Her dress was covered with puke. Totally disgusting. I wish I had kept some photos for the memories!
Hopefully the photos would have been from before the dance……
No I have those already. It was Grad night. Best night ever. Barf and all.
Funny Paul. The photo heads of our heroes are speechless today at the markets.
I think the cats got their tongues….or maybe the BEAR… ๐
cat nipped………………
taking a cat nap ya mean…..
I hear the sound of one hand clapping.
Funny Bonzo…….
Silence is not Golden, Moscow Frank.
Big Al screwed up, yet again!
Lol
That was too cheeky, FFM…
thanks………….. ๐ …..the BOOT
Where is the sound???
Sound of gold dropping from the sky,,,,,listen……
You aren’t in touch with your spiritual side Frank, everything is as it should be, now you see what I mean.
to the moon……..baby……… lift off……… IT IS A SIGN….. ๐
Pennies from heaven?
sounds like Marcel Marceau is working at KER now.
Let’s all take a vow of silence.
I kind of like this…………no one to argue with………….
you da man……….. ๐
great song…………great time 1964
I think IRISH would like this one…….since the” Queen” made it. ๐
How about this one…….?
That songs a classic…..but is also like a horror film on the closeups of the singers ๐
I probably should have picked a better version but I was oddly freaked out by the choir and just went with it…
Good one….That is you Matthew isn’t it. Unless it really is Frank from Moscow talking to himself in the mirror as LPG postulated.
The trident charts posted last week just had Matthew’s signature all over them.
Blue pitchforks by any chance? Dead giveaway.
Andrew’s pitchfork or Tridents.
But combined with Rocking youtube from Queensryche to Simon and Garfunkel.
Just seemed like a Matthew post is all.
With little birds impaled on the forks?
WMK – Awesome. Andrew’s Pitchforks……That’s what’s up!
….and all this time I thought you were Gabriel.
Glad your charts are back on the airwaves.
Looks like you owe Gabriel an apology. ๐
Gabriel, I am sorry I thought you may have been Matthew. Take it as a compliment ๐
๐
WELL LOOKS LIKE NO WRAP UP TODAY
It’s the trailer for the weekend show man…..building the excitement.
Come on you can hear it your mind already can’t you?
Al – I just don’t understand these market……for lack of better words……
Cory – Well these markets seem to want to keep heading up, and until we see something change they’ll probably just keep trending higher, as there isn’t any reason to get the retail investors back into gold.
Doc – The technicals look OK to me and I’m not worried about too big of a selloff, and I really like the gold market here and am starting to nibble at some of the quality stocks.
Rick – The Fed will never raise rates, I’ve been right about that for 8 years, and it would unravel the Quadrillion dollar derivatives market.
There ya go…..There’s yo sho……. (this was all in good fun guys….We love ya)
Pretty funny Shad.
Just listened to the show by the way. Its posted now. Doc is saying he sees a market correction coming. Possibly as early as next week based on his Bollingers. Funny, but that was along the lines of my feeling too when I mentioned we might see a correction in 6 to 10 trading days.
I think the May 8th jobs report could be an accelerating factor, if it is underwhelming.
If you couple a non-rate hike announcement, with bad GDP growth, and then follow up next week with bad jobs growth, then people make get a little shaken.
Shad ,
That was spot on and priceless. Yes, I did laugh out loud!
๐
Cone of silence.
And the Code of Silence.
Anyone want to take a stab at when the stock market gets its correction?
Or maybe that it starts in the next five to ten trading days?
Odds we get a maximum 10% correction back to 1870 or so on the S&P?
That’s kind of my thinking right now….but then again I am not that great at calling market corrections so this is just for entertainment to pass the time until Cory wakes up and posts today’s wrapup interview!
I really don’t know anymore Birdman on the general markets. I think we may have a little weakness at the beginning of next week, and it may flat-line waiting for the jobs report on Friday. If that report is bad, we may keep correcting in the stocks, but if it is better than expected, then stocks will likely start climbing the wall of worry higher into the fall.
My call has been for the September crash for the 20% correction, but we may have 2-4% to fall if “Sell in May and go away” kicks in on Friday the 8th.
Just my 2 cents.
No sweat Shad, I don’t even pretend to know. But I figure more money has been lost trying to time the next 10 or 15% correction in US markets than we can shake a stick at. Hell, half the energy for its rise comes from the shorts getting clobbered and being forced to cover on a weekly basis!
Personally I like parabolic daily moves up for several days before I short the S&P or Russell 2000. I’ve actually done well on targeted short swing trades on the S&P using (SPXS)the 3x S&P Bear, and I’ve done well shorting the Russell 2000 with (TZA) the 3X Russell 2000 Small Caps Bear.
However, for people that short using options, or that held, they’ve just be clobbered.
I like using the 3x Bear ETFs, because if you’re wrong the clock is not ticking like options, and it usually will swing back enough to get you profitable, or out with a minimal loss.
When I do get profits shorting the general markets I generally get out too early, because I dont’ trust them not to just keep surging, but when things get too frothy I do little 1-4 day holds.
I’m not recommending it, but just saying nothing goes up every day, and if the general markets surge higher 3 days, 1 day down, and then go 2-4 days higher again, then I think…..not a bad place for a quick short play, and I immediately set my exit target and stick to it.
I just can’t sleep tonight. Tried twice already but its just tossing and turning. Its the crack of dawn here and they are chanting religious material over the loudspeakers in the neighborhood. I can’t understand a word of it but the dogs are howling along with the Hyenas. Who knows, maybe they are more Godly than me. I lost my voice a week ago from a throat infection or I would join in and howl along with them. Haroooooo!
About that style…sounds ok to me. I count out days on rises and falls too but don’t find it works all that well even if the odds are with you on an average basis. I often need something more for conviction.
Maybe you can do some whisper howling with the Hyenas. harrroooo….shhhhh
Yes, it is always a risk shorting these general markets, and I only do it occasionally when it just gets too far ahead of itself for me to even believe or especially when it get’s too far into record territory.
It’s funny Birdman,
I was looking at the time of some of your posts and told myself you are up pretty late today… same as me ๐
Difference is I haven’t been to bed yet ๐
LPG
Guys I always average 4 hrs of sleep a night and thought all of you psychos did as well; with blood shot eyes from staring at charts, and cramped hands.
I’ve been doing Brainwave Entrainment and Self-Hypnosis to get more quality sleep and compounded sleep in less time. Cheers, and don’t forget to power nap.
Shad,
I’m getting old you know.
I need my 7hrs/night ๐
Best,
LPG
Yes, by all means get your beauty sleep LPG ๐
I am no technician but silver sure seems to have put in a bottom and possible a very subtle swing up. We’ll see
Sounds is on now
yep. no more silent gags.
I call market correction beginning in next week. With a couple major down days.
OK Peter.Your in the pool. I give it 6 trading days. Anyone else?
I’m on record that the trigger for the correction will likely be the May 8th jobs report.
I do agree with Peter R. that we may have several down days as well.
Done and done. We ought to have cake or a good pie or something for the winner. So Docs in too. Anytime next week he said. For sure Rick’s is in. He said its a broad topping pattern. Gary’s out I suspect…..he says the Feds got your back. (Not!)
So that’s six of us. Hmmmm. Its looking more ominous already.
Bird, all I know is that daily and weekly BBs are narrowing—-stocks are trading in a narrower and narrower range and that’s signalling a give one way or another—I’m betting on down since I can’t see anything other then an outstanding employment report that would allow it to break out significantly to the upside.
I appreciate your insights Doc. I am taking my signals from guys like yourself who watch it closer than I do. Top calling these stock markets is obviously no easy gig though. Just look at how many have tried it already over the past few years. Every single one was wrong so far. That in itself is pretty interesting because it means that not one of the methods for identifying peaks is working correctly nor even any in combination! Amazing really. But I’m up for a gamble so I’ll throw my hat in the ring with yours.
Down days for metals for sure. 95% are long. It’s a no-brainer.
Dollar up
Metals down
Oil down
Stocks? = maybe ( depends on the wind )
NO SOUND…….SILENCE IS GOLDEN……………