MACRO…………..MR AL CAN ROCK ON……….. spot on……. THE BOOT

Not sure if you really gotta watch Al.
Just don’t put more on the market than you can afford to lose.
If your long maybe hedge yourself with some inverse etfs.

Its all gambling Al, we do not have price discovery anymore, we have managed markets.
Might as well worry as much about your broker closing up or your bank going broke. Or being bailed in etc

Put the money in, understand its lost, if any comes back its a bonus. lol
No worries.
Besides, you have your physical, as Bob M has always said, “physical first, once you have all you need, then take a look at the market.”
Sry Bird, lol

Al:
I read something today penned by Bill Holter. His viewpoints are much the same as yours. You could have written much of what he wrote, knowing your attitudes of the recent crazy markets. Have a read: http://news.goldseek.com/GoldSeek/1431011501.php

Pretty funny show guys. I don’t know why but it cracked me up listening in today. Everyone seems to be in good spirits. Sunshine sure helps. Anyway…about that hourly chart Rick…does it not look just like its rolling over right now?

Kind of my feeling. But like you were saying, every time we have seen enticing patterns leading into a weekend and people got short they just ended up getting squeezed when the market powered up later on their coin.

Actually you didn’t say that exactly…kind of paraphrasing I guess. But you know what mean. Not many guys want to stick out their chins out at this point no matter how much of an attraction a chart pattern offers. Like it is written “it shall rise come Monday” or something like that.

No wonder the damn thing baffles everyone most of the time. But I am with Al in feeling trouble is on the wings. And I suspect the market is coming down so tomorrows rally (assuming one comes) should be sold.

Until tomorrow..we shall see.

Mostly small potatoes retail is playing out their genius with these markets. In Canada, what that means is you open a TFSA and begin trading the markets. Most people are willing to forgo ownership in their ‘shares’ as long as there’s a money making trade. The shares you buy in a TFSA are in matter of fact owned by the bank, you hand over ownership to the bank, but most people won’t realize that there is also a ‘bail-in’ clause.

They love these markets because winning is very easy.

But the U.S. has been pricing in negative rates for some time, I guess that means waiting until the dollar routs before any other moves are allowed to occur.

Maybe I’m wrong, but the diff between you Al and Rick is timeframes.

Al you seem more like an investor – a buy ‘n holder. And right now you’re holding, and w/out a decisive exit strategy (you mentioned the other day that you wanted to sell, but your wife didn’t, if I heard that correctly?). If I was long, w/out an exit strategy, I’d be nervous, too. So, make an exit strategy??

Rick has said several times that he moves from one pivot to the next. He looks at hourly charts. Probably 5 min and 1 min charts, too. He seems to be able to buy and sell intraday, or for a few days, once his pivot target is hit. He’s a pure trader. He doesn’t forecast the future either, just the next pivot. Rick is never nervous because he has an exit strategy before he even enters.

My 2 yen.

Al, maybe I’m wrong, but you sound PLENTY worried to me. Based on today’s and yesterday’s shows.

To the extent that you are, one exit strategy my Dad taught me was to sell 1/2. That keeps one foot in the market for your wife, and the other out for you.

Another idea is, stay in, but if XXX or YYY happen, sell 1/2, and if ZZZ happens, sell the other 1/2.

Just remember that Rick and Gary are not like you. They are traders. Gary is a wave rider, and Rick is a pivot guy. They are both VERY aware of fundamental stuff, and that you 3 have in common, along with Doc. But when it comes to trading, Rick and Gary don’t care about what anyone says, their wives, themselves, me, you, nobody – like a surgeon they cut and run. No emotions. Very professional. Fast and furious.

Just my 2 yen. Something is bothering you Al, and it hurts me and probably eveyone to see you worried like this. I just hope you can identify and fix it is all.

Me, I don’t worry at all if the market goes down. Because I’m out. However, I’m EXTREMELY worried about my dollars going to zero, as evinced by gold skyrocketing. I still wake up every day expecting gold to jump $100 or more, and for physical to be unavailable. This is because I don’t have a position. I gotta fix this, but I’m just not sure how or when.

I guess we all have our demons!

When I read comments here I think most people should not be exposed to these markets, just sell and wait; if nothing happens you will not lose and if something happens your cash will get you terrific bargains.