With everything up today are we starting a new trend?
Gary Savage starts off today with comments on the markets and gold. He is worried that the Fed and investment banks are working to save the markets and further extend this intermediate cycle. The key level here is a close above 2100 on the S&P. As for gold he is still skeptical on the move today.
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Obama plan…………..
Shirts or other clothing articles?
they are trying to make hemp legal in the Midwest.., to grow and extract the oil for use in drugs….
Thomas Jefferson was a fan, it used to be used in ropes, clothing, paper, and Henry Ford powered the original automobiles on Hemp Oil because it was so effective. Big Oil squashed that little fact, and have decided Corn alcohol – Ethanol is better because in the USA we are corn crazy due to subsidies.
I use to be in the ethanol business…………
Thinking about Hemp farming……………..
It is was good enough for THOMAS J…….it is good enough for me, although I do not like his take on the bible……….
GREAT place Monticello …..great place to study some American History, first hand.
OT…..Any of you going to the Sprott Conference July 27? I think it would be fun/interesting for some”KER groupie’s” to gather for a drink maybe the evening before it starts? I am staying at the Century Plaza three blocks from the conference in a studio & would even consider hosting a wine gathering……or “more better” to meet at a local pub. Let me know if you are going to be there and I will post my contact info. Chris
Definitely going to be there.
Please sign up through our website if your would.
Best,
Al
Dow up 246 — I guess that correction was effectively nipped in the bud. Like Barney Fife (Andy Griffith Show), The Fed’s definitely in favor of bud-nippin’.
Right, Chips!
This is not our Fathers bull or bear market as we have Trillions being tossed at global markets from the Central Bankers = Fundamentals mean nothing! as I’ve been stating for a very long time, hello!
That being said the markets still react of the data of which the hedge funds trade off, they move the markets not us.
S&P chart suggests buying today as it was as sell since May 20th at 2130, anyone who thinks this is hindsight or Monday QB calling is not even worth replying to, wake up man watch the live data action and place your positions off the indicators, why bother making target calls they are totally useless follow the money not the opinions, good grief!
US equities rising off a possible Greek deal as the news wires reported which could easily be retraced next week if the FOMC meeting is rate hike hawkish a strong US retail sales data will lean toward a rate hike just as the bond markets are yelling, anyone paying attention here?
Anyone notice why gold shot up to $1193 and has since been fading? Anyone paying attention? Give you a clue it happened while you were sleeping, oh and it turned when gold hit $1162 another clue.
Try to open your mind and be like a trader just following the trend and the capital flows. The market is always right – it cannot be wrong. Only we are wrong for when the market does something we did not anticipate our analysis is at fault – not the market.
I guess the above statement for all those who have been investing based on fundamentals looking at losses or those that have missed great gains in US equities because fundamentals prevented you from following the money now realize YOUR analysis is WRONG and the market is RIGHT
Okay all you well educated know it all’s attack me and while your at it tell me what was the driver behind golds pop, my dog knows, and you should as well as I’ve been saying it for years! while all you guys focus on manipulation, gold to da moon and gold to crash
Anyone paying attentions? Yeh, I definitely am!
I agree its not “damn the torpedoes anymore” now it’s “damn the fundamentals”!
JJ,
Let me take issue with ONE thing that you said: “why bother making target calls they are totally useless follow the money not the opinions, good grief!”
BECAUSE THAT IS WHERE MY TECHNICALS TELL ME TO LOOK FOR A CHANGE IN DIRECTION OR BEHAVIOR OF PRICE. Just like Monday on the SP500, Even Avi Gilburt and a few others (along with my own fibonacci and Elliott Wave analysis) had a lower target around 2072.50 to 2068.25 where a strong bounce could occur. Guess what? Take a look at the chart of the SP500 and you’ll see something known as a “bounce”.
And guess what? The SPY 208 weekly call options since yesterday are up over 150%. Actually more like 180%, but I took most of my profits already and moved my stops up to lock in profits.
Also, NFLX hit my upper target today of 690.23 and surpassed it by about $2 bucks. NFLX HIT 692.79 AND REVERSED. Guess who REVERSED their position and went short using four weekly option contracts on the 685 strike and I am about to close them at 677.50?
AMZN pushed right up into my upper target of 431.50. Guess how much the weekly 427.50 call options increased just today? GOOGL pushed past my upper target of 551.50. Guess who took profits? Price targets work because they keep a skilled trader from getting greedy and they alert the trader to where reactions can take place.
Target calls work very well and when they don’t, that is why you use stops. Everything else you said I concur with but I think that the continued application of salt on wounds is a waste of time. Love your chart analysis and I appreciate your trading wisdom and you sarcasm to an extent, but I think the stone throwing needs to end and let it go. The past is over. Get over it.
If no one has learned by now the mistakes that have been made due in part to their own idiocy (which I was one) then there is no helping them now.
Stay frosty.
p.s. “No” I don’t think you are an idiot. I just think you are being far too critical at this point in time.
Great points as per usual Mark Alan.
very often those price targets are at key trend lines of support or resistance, not off human target opinions
so what was the driver behind golds turn at $1162 and its pop/fade today?
continued salt in the wound, no its wake up time to learn how not to make the same mistake over and over again always blaming manipulation on gold never breaking out
I’m tossing back the stones that were tossed at me, tuff sh!t
ROTFLOL!! Spoken like true old fart. You sound like my Dad 🙂
Okay, JJ. I’ll quit preaching to ya.
Agreed about price targets but I can also show you where there ain’t a trendline or support/resistance for MILES and the price will hit a fibonacci number and reverse.
fibs are chart points not opinions, agree 1000%
agreed. Many times there are trend lines and moving averages that will eventually line up with a fib retracement level, but many times a 38.2% or 61.8% retracement level is a target all by its lonesome.
Morning original, we are all friends, and I did not see any stones thrown!
Really Al, those toss glasses pal, your buddie Bob Moriarty hoped I lost money with a long US$ position, hmm as much as I find him a doom and gloom pumper I’ve never wished he lose money, I guess he hopes Rick A does as well with his 120 US$ call
Friends don’t make a point of one’s poor spelling of grammar or lack of education as to a reason why my chart work isn’t worth anything.
Bob is a blunt guy, original. What more can I say? Everyone had an opinion.
Bob did call the top in silver ..at……$49
So, did D.MORGAN., but, he didn’t tell anyone………..
I know , there are those who paid him his fee, and told them……..D.Morgan that is….
interesting comment Mr. Alan, thank you.
Good thoughts and good chart. It does look like the SPX has turned based on the MACD cross and the candle pattern. Before you get all worked up, I like your information JJ, and just want to honestly understand the statements below because after saying fundamentals don’t matter, you go on to list a ton of fundamental data points.
For the record, as I stated below in the blog: “I completely agree that Technical Analysis and tracking Sentiment Indicators are the key. However, I still think Fundamental have an influence. Things like Fed Meetings, Central Bankers actions, major Geo-Political events, Trade agreements, company exciting exploration discoveries, company takeovers, balance sheet blunders, etc… still matter and can still move a stock.” – Shad
JJ – What I am trying to understand are these two competing statements you made:
1) “…we have Trillions being tossed at global markets from the Central Bankers = Fundamentals mean nothing! as I’ve been stating for a very long time, hello!” – JJ
Trillions of dollars being tossed at global markets from the Central Bankers is a “Fundamental” data point, and not a “Technica Analysis” data point. Therefore fundamentals are playing some part in the market direction.
2) “US equities rising off a possible Greek deal as the news wires reported which could easily be retraced next week if the FOMC meeting is rate hike hawkish a strong US retail sales data will lean toward a rate hike just as the bond markets are yelling, anyone paying attention here?” — JJ
This is all Fundamental Data points, which apparently are having an affect on the market. Aren’t they? Clearly they are, or if they had no effect we wouldn’t be discussing them at all, we’d all just be staring at charts only.
I love technical analysis, and watch a number of indicators (BBs, MACD crosses, RSI, Trend line, 50 day MA, 200 day MA, Fib retracement levels, Elliot Wave Counts, etc…). However, it confuses me when people talk about how Fundamentals don’t matter, and then if the Swiss unpeg from the Euro, or Canada/Australia do surprise rate cuts, or the PMI numbers are down on China, or the FOMC meeting minutes come out, they are the first to opine on how these fundamentals will affect the market. What??
Either it is all Technical Analysis and Fundamental news about a company, its balance sheet, its discoveries, its drill results, its acquisitions, etc… doesn’t matter at all…… or …… people don’t understand Sentiment is the result of traders positioning due to Fundamental drivers. The Technical triggers are the result of what people chose to do and the bets they place, which causes a trend or pattern to play out. The reasons for that (Sentiment) are driven by the Technical landscape (AND) the Fundamental news flow.
Its not a normal market Shad having Central Banks buying sectors that they have no business in doing so as its only to try and prevent normal market reactions, eventually the bubble bursts as always, the intervention makes fundamentals useless as XYZ is only valued at $ because of intervention so toss common sense and trade the chart data
there has been many times when news releases have sent the markets in the opposite direction of a common sense approach or fundamentals, if the indicators suggest the opposite trade off it as its the flow of money one profits off not what you think the market should do
lets say your favorite silver miner comes out with positive news yet the stock and its indicators turn down it happens a lot, so you don’t buy more even though the news would suggest to do so the money flow is reacting correctly as the stock rolls over with the indicators turning
CRJ is a great example as gold falls $130 common sense or fundamentals would suggest selling CRJ, yet its chart indicators correctly told you to stay long
so why did gold turn off $1162 and pop hard today?
Ageed, jj!
Original JJ. I completely agree with you that technical analysis is the best way to forecast what is coming next, and I agree that the turn in the price in Gold at $1162 (along with most of Gold’s action for the last few months) has been almost exclusively driven by by technicals.
However you didn’t answer my questions:
“1) “…we have Trillions being tossed at global markets from the Central Bankers = Fundamentals mean nothing! as I’ve been stating for a very long time, hello!” – JJ
Trillions of dollars being tossed at global markets from the Central Bankers is a “Fundamental” data point, and not a “Technica Analysis” data point. Therefore fundamentals are playing some part in the market direction.
2) “US equities rising off a possible Greek deal as the news wires reported which could easily be retraced next week if the FOMC meeting is rate hike hawkish a strong US retail sales data will lean toward a rate hike just as the bond markets are yelling, anyone paying attention here?” — JJ
These are all Fundamental Data points, which apparently are having an affect on the market. Aren’t they? Clearly they are, or if they had no effect we wouldn’t be discussing them at all, we’d all just be staring at charts only.”
— Is whether Greece defaults or exits the Euro a “Technical” data point or a Fundamental data point? Answer – Fundamental….and it shapes “Sentiment”.
— Is the jobs report coming in over or under what is expected a “Technical” data point or a Fundamental data point? Answer – Fundamental….and it shapes “Sentiment”.
—- Are the PMI numbers in the US, or China, or Europe a “Technical” data point or a Fundamental data point? Answer – Fundamental….and it shapes “Sentiment”.
— When Wildcat Silver just intercepted 5 holes of really high grade Zinc, and the stock went bananas to the upside right afterward, a “Technical” data point or a Fundamental data point? Answer – Fundamental….and it shapes “Sentiment”.
— When the Swiss surprised everyone by un-pegging form the Euro and it sent currencies scrambling, and the dollar soaring up – was it a “Technical” data point or a Fundamental data point? Answer – Fundamental….and it shapes “Sentiment”.
— When the Arab Spring seemed to come from out of nowhere in Egypt, Libya, Syria, etc… roiling markets everywhere for months….was it a “Technical” data point or a Fundamental data point? Answer – Fundamental….and it shapes “Sentiment”.
— When the Uranium market was trucking along at warp speed in the new nuclear renaissance in 2009, 2010, and 2001, and then from out of nowhere there was an Earthquake in Japan followed by a Tsunami, and the Fukushima disaster played out, was that a a “Technical” data point or a Fundamental data point? Answer – Fundamental….and it shapes “Sentiment”.
If all there is only Technical charting, then nobody on this blog should ever discuss any news events ever again, because they apparently have no effect (even though, for some strange reason, they get baked into the numbers….but don’t mind that)
If Fundamentals don’t matter, then lets never discuss the jobs numbers, FOMC minutes, Greece Exits, The IMF, the ECB statements, The Fed and FOMC statement, political events like Russian sanctions, Iran’s potential effects to the Oil market, OPEC statement, OPEC or US oil supply, or really any supply demand metrics, new car sales, cold winters hurting the 1st quarter, GDP numbers, currencies affecting Multinationals, exploration results for miners or oil producers, bad company financing from poor management, or management at all…none of it matters right?
The point is that while Technicals guide the direction markets will play out, it is the Sentiment that drives the trades and positions traders take which put the numbers on the charts in the first place. Sentiment, can, always has, and always will be affected by Fundamental data. Again, I love technicals, but I’m not thowing the baby out with the bathwater, and if you can’t see that Fundamental affect Sentiment, then I’ll refer you back to Gary Savage’s comment to you yesterday about what he feels will move the markets:
___________________________________________
On June 9, 2015 at 12:27 pm,
original jj says:
The ONLY way your going to get sub $1000 gold is US interest rate hikes, sure Greece’s debt issue if pushed off into 2016 will remove some goldbug collapse fear but unless the ECB or Japan are going to be unleashing another round of QE devaluing their currencies (doubt it), the HUI at 100 or 50 will need a rate hike, hikes! pushing the $ way higher
Then again Marty has been calling sub $1000 purely on his computer data, but what will be the trigger, US rates?
On June 9, 2015 at 3:37 pm,
gary says:
Fear will be the trigger.
_____________________________________
So….”Fear will be the trigger” says Gary. Fear is an emotion, not a Bollinger Band, or Moving Average, or Fib Retracement or RSI level. Fear is an emotion that forms investor “Sentiment”. Fundamental factors like the Fukushima disaster in Japan or the Arab Spring in the Middle East, or The Greece Exit, or the Debt Ceiling Debpate, cause a great deal of fear, anxiety, and cause traders to place certain bets. This is what Sentiment is.
BTW – Let’s dissect your statement for Fundamental drivers:
The ONLY way your going to get sub $1000 gold is US interest rate hikes (US interest Rate increases are a Fundamental data point), sure Greece’s debt issue (a 2nd Fundamental data point) if pushed off into 2016 will remove some goldbug collapse fear (goldbug collapse fear is a Sentiment driver based on the fundamental economic picture they expect)but unless the ECB or Japan are going to be unleashing another round of QE ( a 3rd Fundamental driver) devaluing their currencies (doubt it), the HUI at 100 or 50 will need a rate hike (a 4th Fundamental driver), hikes! pushing the $ way higher (are you saying the rate hikes – a Fundamental news item may push the $ higher?)
Then again Marty has been calling sub $1000 purely on his computer data, but what will be the trigger, US rates? (The trigger is investor Sentiment)
Sentiment is the Emotions of traders from Fundamental news paired with Technical Data. Period.
Oh and one last thing….
Your statement “…Central Banks buying sectors that they have no business in doing so as its only to try and prevent normal market reactions, eventually the bubble bursts as always, the intervention makes fundamentals useless…”
Central bankers buying sectors they have no business in IS A FUNDAMENTAL data point. It is strange the your triggers of rate hikes or Central bankers make fundamentals useless, when they are Fundamentals themselves. Curious?
Yes I did answer:
Its not a normal market Shad having Central Banks buying sectors that they have no business in doing so as its only to try and prevent normal market reactions, eventually the bubble bursts as always, the intervention makes fundamentals useless as XYZ is only valued at $ because of intervention so toss common sense and trade the chart data
there has been many times when news releases have sent the markets in the opposite direction of a common sense approach or fundamentals, if the indicators suggest the opposite trade off it as its the flow of money one profits off not what you think the market should do
lets say your favorite silver miner comes out with positive news yet the stock and its indicators turn down it happens a lot, so you don’t buy more even though the news would suggest to do so the money flow is reacting correctly as the stock rolls over with the indicators turning
CRJ is a great example as gold falls $130 common sense or fundamentals would suggest selling CRJ, yet its chart indicators correctly told you to stay long
so why did gold turn off $1162 and pop hard today?
Shad we are splitting hairs, in a bull market fundamentals create the floor the reason to buys the dips but during a bear market toss fundamentals has been my point. Ever wonder why all the gold gurus look like stars during the bull run and complete fools during the bear they are applying common sense and fundamentals which I will be the first to suggest gold should be $2000 NOW but I trade the chart price reality, thank god!!!
The US data is all BS we know that but why do we focus on it because the hedge funds the players who move markets do.
In a perfect world what your saying is 100% correct, HOW MANY TIMES have we seen a market news release, government data or a very bullish analyst call on stock XYZ only to see the opposite reaction to a fundamental approach or common sense these past 7 years! I’ve lost track, so if Armstrong said today golds low is in and its going to $5000 or Savage or Ackerman or all the others calling for sub $1000 suggested it was going to happen today I could careless as the chart will tell me how to be positioned.
Gary’s answer FEAR, wow that was deep, fear of what? and regardless that’s an opinion based on what? the chart might very well tell me to be long while all these experts call for sub $1000 gold, again CRJ a great example ITS CHART suggested staying long while gold fell $130 tossing common sense and fundamentals out the window
Again Shad are you going to tell me there has been no big moves in so many stocks so many sectors these past 7 years in the opposite direction of the fundamentals, of course there has, but the indicators were not wrong!
I should add Shad that often charts do turn off a FOMC statement, of course they do, but the chart indicators will tell you when to SELL that position you bought off a FOMC statement not fundamentals
I give up Original JJ. I’ve been trying to unpack that “Sentiment” is (Fundamental data driving emotions – like the “Fear” Gary was referencing yesterday + Technical data driving momentum).
Technicals are numbers, charts, and graphs. They have no news embedded. They are tools used for forecasting market direction, and BTW there is no perfect system in TA that is always correct…..it is a projection in every case.
90% of what we discuss on this show are Fundamentals (Russian sanctions, Crimea, Greece exits, ECB or Fed policy, Jobs numbers, Iran nuke deals, threats to the Strait of Hormuz effecting oil supply, the TPP, AIIB, jewelry demands in wedding season in India being down, the Debt ceiling debate, GDP numbers, the slowdown in China…….
If none of those things affect Investor Sentiment (and therefore the positions they place = the pattern that plays out Technically)……… then why don’t we all just stop discussing them?
We can just have a show with only numbers and charts, and nobody better say a word about Fed Rate Hikes or Trans Pacific Partnerships or FOMC minutes….because those are just worthless Fundamental data points.
If you look at your opening line:
“…Central Banks buying sectors that they have no business in doing so as its only to try and prevent normal market reactions, eventually the bubble bursts as always, the intervention makes fundamentals useless…”
Central bankers buying sectors they have no business in IS A FUNDAMENTAL data point. It is strange the your triggers of rate hikes or Central bankers make fundamentals useless, when they are Fundamentals themselves. Curious?
Now, to address the counter-intuitive moves like when a Silver miner puts out good fundamental news and the stock goes down anyway…..I am actually 100% in agreement with you that the Technical indicators are more relevant and can over-power the Fundamental news. No doubt about it. Again, I use charts and TA every day in my trading, and lean most heavily on what the numbers say.
The only reason I brought this up is because so many people, you and Gary included say “Fundamentals don’t matter,” and then go on to discuss rate hikes, Fed intervention, the ECB, the Euro, etc….
If fundamentals don’t matter, then don’t ever use them as justifications for a trigger.
If fundamentals don’t matter then only speak to us in numbers and charts and lets all forget about 100% of the news flow.
All I am saying is they do matter, and most importantly news affects outlooks and emotions and drives sentiment. Do you think Apple is such a huge stock ONLY because of Technicals, or could it maybe have something to do with IPods, IPads, Iphones, free cash flow, and being a fundamentally sound international powerhouse of a company? Obvious the company fundamentals do matter.
Good luck to all in their Technical Analysis, and for goodness sake, let’s not ever talk about what’s happening on the planet, in the sector, in central bank planning, in management, in geo-politics, or any breaking company news, ever again…… it’s all totally worthless apparently.
I’ll ask you this Shad, put up a chart of anything and tell me if its a buy or a sell regardless of whats going on in the world, that’s my point XYZ maybe has the best fundamental reasons in the world to be trading much, much higher yet the price value on the chart and the indicators PROVE otherwise
Take care!
I actually agree with you on that point JJ. All I am saying is look at a Gold chart on the day before the Swiss unpegging from the Euro and the 2 days after the news release. I’m not sure the Gold chart would have demanded a rise like that was baked in. The news event changed the direction and technical indicators in an instant.
Look at a chart of a company on the day or two before a hostile takeover is announced, and then the 2-3 days after the news hits the market. It is unlikely the TA could anticipate a fundamental shocker like that.
On a daily basis and in an absence of regular news flow, then Techncial Analysis is the pilot of the ship. Sometimes a news story high-jacks the driver’s seat of the ship is all I’m saying, so Fundamentals still have a role.
Good luck to you as well JJ and keep the charts coming. I think we are actually 95% in agreement, but just differ slightly in how we define investor Sentiment. That’s OK with me though.
Keep the charts coming and best to you!
Agree.
I don’t trade for short term because I have no time plus I cannot beat GS and JPM with their high frequency trading platforms. They paid billions for those platforms. I simply am no match to them. I will lose if I try.
So only thing I can do is to rely on funcdamentals since in a long run, fundamentals play the essential role or only role. Technical and sentiment will cancel out. If central banks screate trillion of dollars, the price of assets and consumer goods have to rise in a long run. Nothing them can do about it. So I invest in both, then I will win in long run. I don’t hope to be Warren Buffett, just want to keep my purchasing power.
Lawrence if you understood chart trading you would not care about GS or JPM as you actually make money of the trend they create, its my way of making money of the crooked banksters!!
If you can’t chart trade full time don’t try, you are correct.
Its all about keeping what we have, so true!
Agree completely about the “long run”!
Yeah, Shad.
What JJ just said.
I wasn’t aware he said anything that made any sense on this topic today?
LOL!!!
🙂
🙂
maybe he did not spell it out to ya……….(just family kidding)
Please remember that I said “fundamentals as I learned they years ago”. Today, of course your are correct, Shad.
I’m just curious Big Al, If a war broke out, the central banks announced easing or tightening, if certain commodity crops were decimated due to drought, if a company hit a bonanza gold or silver intercept….you’re saying there was a difference in how investor sentiment reacted then versus now?
Technicals are numbers, charts, and graphs. They have no news embedded. They are tools used for forecasting market direction, and BTW there is no perfect system in TA that is always correct…..it is a projection in every case.
90% of what we discuss on this show are fundamentals (Russian sanctions, Crimea, Greece exits, ECB or Fed policy, Jobs numbers, Iran nuke deals, threats to the Strait of Hormuz effecting oil supply, the TPP, AIIB, jewelry demands in wedding season in India being down, the Debt ceiling debate, GDP numbers, the slowdown in China…….
If none of those things affect Investor Sentiment (and therefore the positions they place = the pattern that plays out Technically)……… then why don’t we all just stop discussing them?
We can just have a show with only numbers and charts, and nobody better say a word about Fed Rate Hikes or Trans Pacific Partnerships or FOMC minutes….because those are just worthless Fundamental data points.
Shad, if I may
You said:”90% of what we discuss on this show are fundamentals (Russian sanctions, Crimea, Greece exits, ECB or Fed policy, Jobs numbers, Iran nuke deals, threats to the Strait of Hormuz effecting oil supply, the TPP, AIIB, jewelry demands in wedding season in India being down, the Debt ceiling debate, GDP numbers, the slowdown in China…….
If none of those things affect Investor Sentiment (and therefore the positions they place = the pattern that plays out Technically)……… then why don’t we all just stop discussing them?”
That’s PRECISELY why JJ and a couple of others (Avi Gilburt) are stressing when the talk about the charts. Markets being forward looking are usually ahead of the game and most fundamentals take time to develop, so that by the time the fundamentals have been “realized”, the stock is already where it should be in price. This is why you can have a company release great news or even a great earnings report and the stock simply sits there or drops.
A “Black Swan” is something that no one sees coming, thus its not a fundamental that can be “priced in”. Fundamentals take time to develop and take time to see results. It’s not that fundamentals are worthless, its just that the markets usually price in those fundamentals in advance due to EXPECTATIONS. Also, much of the “fundamental” news is controlled to large degree. This is why earnings reports are so bogus because the market will price in what it EXPECTS, not what is. So even if a company reports “less than stellar” earnings, you can see the stock rocket higher because of expectations which are usually hyped. NFLX is a great example of this, as are many companies.
Fundamentals should be used for LONG TERM investing and shouldn’t be relied on to “move” the markets. It’s always expectations from supposed fundamentals.
Now that I can agree with. Thanks Mark Alan.
Point very well taken Shad!
I apologize if that came off rude in any way. You know I think you’re the MAN Big Al.
It was written more tongue in cheek, because obviously my position is that we don’t want to quit discussing those items and Fundamentals still have an affect on pricing, but they are severely warped by deterioration of the falsified numbers reported in jobs creation/unemployment/GDP/Inflation/etc….
There definitely are forces from the central bank policies and government international policies that applying pressure in certain areas like the equities or currencies, but those are new Fundamentals….the new normal.
Cheers my friend an I appreciate all that you do to provide this great forum of ideas.
Great discussion guys.
Avery Goodman: Morgan runs Fed’s gold operations at Comex, Fed guarantees exchange
ubmitted by cpowell on Wed, 2015-06-10 01:58. Section: Documentation
10:06p ET Tuesday, July 9, 2015
Dear Friend of GATA and Gold:
Recent reports from the U.S. Commodity Futures Trading Commission and the CME Group, operator of the New York Commodity Exchange, indicate that JPMorganChase & Co. is administering the Federal Reserve’s gold swapping and lending operations and that for the time being the exchange’s gold contracts are being guaranteed by the U.S. government.
That analysis is published today by Colorado securities lawyer Avery B. Goodman, who draws heavily on GATA’s documentation of U.S. government intervention in the gold market.
Goodman’s conclusion arises largely from the unnecessarily disproportionate assignment to JPMorganChase of Comex gold deliveries, as recorded in the CFTC’s June 2 bank participation report for gold futures. Essentially, Goodman writes, last month the Fed rescued the Comex from a gold delivery deficiency, but the U.S. gold reserve, now guaranteeing the Comex, will not last forever.
Goodman’s may prove to be the most important analysis written about the gold “market” this year. If they meant to provide the world with any serious journalism, mainstream financial news organizations quickly would put questions about Goodman’s analysis to the Federal Reserve, CME Group, and JPMorgan Chase.
Goodman’s analysis is headlined “Did Comex Just Receive A Physical Gold Bailout from the Fed?” and it’s posted at Seeking Alpha here:
http://seekingalpha.com/article/3247676-did-comex-just-receive-a-physica…
Very good and provocative article. Thanks for posting it Markedtofuture!
Shad…Avery is more than qualified for that analysis. His bio is posted lower. Sources were well documented and it is a great article for new investors. It introduces them to the sometimes – invisible hand in the gold market.
I’m sure Chris Powell meant June 9th.
Good points and thanks again for posting the article and his bio down below.
This has been discovered many years ago by John Embry. Nothing new for me.
BTW, FED does not have US gold. It has only custodian foreign gold saved at US. There are 4000 tons from Central banks and 24 tons from Foreign nationals. It is documented that this gold has been leased out multiple times. They might have been selling physical since 2012 to finish the complete fraud.
So US is ruining its credibility as gloab leader and will sink into a poor third world country hated by most countryies. Look at Cuba and Korea, if a country is isolated by international community, it will be a poor house. I lived under one as welll – Communist China from 60s to 80s. It is no fun.
NO, the Fed does not have gold.
It has no gold in legal term but it has control of foreign gold. Don’t they?
How, Lawrence?
Foreign gold is stored in FED vault and they have custodianship.
So far they have refused all requests for inspections, such as German request.
article dated……………JULY 9,2015…….MISTAKE?
IT IS NOT” JULY” YET…………
Tomorrow markets could be down 200 points. This is just crazy.
I think Gary is right about being in cash… but if this cycle gets stretched out till mid September??? Geesh.
I agree with everything you are saying Bob UK.
By the way, on a personal note, my rehab plan is initially anyway not going as well as yours seemed to.
Don’t despair – these things took time. Truth be told, it took me several years from my worst times to getting past the worst.
You have to, as Sir Winston Churchill would say, “keep b*ggering on” and be aware that, on this journey, you will often take 2 steps forward and 1 step back… but onwards you will go and things will eventually get better.
Just don’t beat yourself up on the bad days. They too will pass and life will get better.
I fully intend to keep buggering on.
Thanks my friend.
Excelsior! (onward and upward)
Bob UK
THIS is a day-traders dream!
I agree with you Mark – I was only just thinking the same thing.
However, I am not a day trader as I lack the skill or the nerve, probably both, and prefer longer holding timeframes.
Trust me Bob UK
It ain’t the skill that is the problem with most traders. It’s what lies between the ears. Emotions are what many learn to trade by and that is what leads to so many failing in their first few months. I’ve had to COMPLETELY reprogram my mind in order to learn to trade. Trade what you see:not what you think 🙂
Keep doing what works for you and stick with it. If you like the longer time frames, then that is where its at.
stay frosty
excellent point……MARK A….
Avery Goodman Seeking Alpha ….
Avery B. Goodman has been a licensed attorney for 29 years, and has concentrated in securities law related cases. He holds a B.A. from Emory University, where he concentrated on history and economics. He also holds a Juris Doctorate degree from the University of California at Los Angeles Law School and is a member of the Bar, licensed to practice law in several jurisdictions.
Mr. Goodman serves on the roster of neutral arbitrators of the National Futures Association (NFA) and the Financial Industry Regulatory Authority (FINRA). His career has consisted not only of prosecuting cases on behalf of clients, but also in sitting in judgment on the cases involving others, and making important decisions on intra-industry and customer disputes.
An independent investor for decades, Mr. Goodman has observed that markets are being subjected to frighteningly high, and still rising, levels of disinformation. Investors desperately need an impartial voice of logic, reason and common sense to guide them. For that reason, he is now sharing thoughts with the community.
I completely agree that Technical Analysis and tracking Sentiment Indicators are the key. However, I still think Fundamental have an influence. Things like Fed Meetings, Central Bankers actions, major Geo-Political events, Trade agreements, company exciting exploration discoveries, company takeovers, balance sheet blunders, etc… still matter and can still move a stock.
Shad, often times those fundamentals get priced in a company’s stock WAY before their actual achievement. That’s why I’ve come to rely far more on technicals than fundamentals. But then again, I’m a trader, so my perspective is completely different.
You’re correct, Mark; this is a day trader’s dream—if I was a day trader I could have done very well recently but that’s not my interest. Hope you continue to do well.
Thanks Doc
I have foregone my old profession in pursuit of the new. I liked my old profession but the bureaucracy now creates far too many barriers than it does to improve. I just had enough and found something I love doing.
Appreciate your inputs on Big Al’s site.
I agree with you Mark Alan, and the first comment I made was that “Technical Analysis and Sentiment indicators are key.” If Fundamentals get priced into a stock, then that means if the Fundamentals affected the “Sentiment” and that they did move the market (which is why they became priced into the market in the first place).
I am not aware of anyone who had the Arab Spring in Egypt, Libya, Syria, etc… priced into the market. I don’t remember anyone on this site or anywhere pricing the Swiss un-pegging from the Euro into the market. I don’t remember anyone pricing in the recent surprise rate cuts from Canada and Australia into the market.
If Fundamentals were all priced into the market, then we’d never discuss the outcome of FOMC meeting minutes, the slowdown in China’s economy, the Debt Ceiling debate, or whether Greece was leaving the Euro or not.
When a company surprises to the upside or the downside in its earning and EPS on quarterly confernece calls, then the stock will make an out-sized move. If the analysts were perfect or everything was already priced in, then this would never happen. That is a “Fundamental” data point, that changes “Sentiment”.
Sentiment is the fusion of Technical indicators and Fundamental input. Sentiment (TA + FA) is what causes the actions and positions the traders have taken (which form the trends/patterns/moving averages in the first place).
If Fundamentals are already Baked into the numbers, then they are the ingredients that make up the Sentiment Cake (along with technical indicators).
I read and rely on charts, but I don’t discount how fundamentals change Sentiment.
I understand what you are saying but it’s like I said: “often times” not all the time.
And actually I can show you someone who did project the big move in the swiss franc based on EW and I was absolutely stunned about his projection. He isn’t someone famous either. He is just a regular forex trader.
Fundamentals are also lagging indicators, especially if it is something that is expected. Take all the comments from Big Al and others who keep saying: “I just don’t undestand why isn’t…..” Well, because those fundamentals are already priced in. Markets are forward looking, so any REAL surprise can definitely effect the markets.
Also, when you talk about “surprise” events, one thing I’ve found is that the monthly options very often foretell the news. That’s why I ALWAYS look ahead three months out in the option chains because that is where much of the ‘”news” gets priced in. And if you have the right software, you can tell if the options are at ASK or BID.
This has also helped me with price targets when the option strikes that show the most changes align with many of my technicals. So, I can’t say that fundamentals are NOT useful, but I can say that often the fundamentals are already being priced in and there are those who are positioning ahead of any “news”. Just my opinion.
Good comments Mark Alan. I understand and agree with you man.
I am not saying fundamentals are more important or even as important as technicals, just that they form the foundation of peoples ideas in the world and hence their emotions and therefore effect sentiment.
Many times fundamentals can, indeed, be lagging indicators like the “Buy the rumor Sell the news” adage. However, black swans, market earning surprises, the death of a key management member, a sudden change in Central banking policy, etc.. is the trigger that shifts sentiment. Once the sentiment shifts, the Technical picture can shift on a dime, and a new technical landscape will arise where TA will help traders navigate the direction of the turbulent waters.
Again, I don’t know any technical indicators that predicted the Fukushima disaster, Crimea, and you’d have to admit that 99.9% of traders and investment firms were caught off-guard with the Swiss unpegging. It was definitely not baked in.
Oh yes! Absolutely the form the “foundation” of peoples ideas! Couldn’t agree more.
But since I’ve become an active trader in the markets and now that I also watch multiple markets, I’ve come to the conclusion that we have all been “suckered” into believing that fundamentals should be the foundation of our ideas, or at least, our investing ideas. I truly see now that the psychology of a market is far more emotionally driven than it is fundamentally driven. That’s why I feel the constant talk of fundamentals is a waste of time. Unless the fundamentals change, there really isn’t anything to discuss except for what the charts are telling us, which are the emotional part of the markets.
Oh, very true! No technical indicator predicted things like Fukishima. But regarding Crimea: did the markets really react the way they should have? Was it really surprising to those in the know? Maybe to some who didn’t follow things closely, but if Crimea were going to be such a “game changer” then I for one, would have expected an even bigger reaction in the markets.
Look at the Middle East and ISIS. Supposedly all the oil disruptions were going to make oil go “to da moon” but what happened? It tanked. So which fundamental won out: The “doom and gloom”, or the massive over-supply glut that we have? This is the part so many people have trouble with. WHICH fundamental is real and which isn’t. This is why Avi Gilburt and several others have said, they “don’t listen to the news”.
I really think that it is a matter of discerning WHICH fundamental(s) is the real driver versus the one(s) that are not.
stay frosty
Oh and btw…
While he never predicted the date the Swiss franc would depeg, Armstrong did warn that the Swiss were getting into big trouble by their continuing peg to the euro. He warned that something is going to break. May not be a perfect prediction but I think his computer did a good job on pointing out something could and with a strong chance.
There is a self-improvement speaker, Jim Rohn, that I really enjoyed listening to and just passed away a few years back. He had a concept in his course that changed the direction in my life.
Philosophies drive peoples Beliefs
Beliefs drive peoples Actions
Actions drive peoples Results
Results drive peoples Livestyles
This is why I feel that Fundamental drivers and data point affect peoples Philosophies and in turn their Beliefs about the market.
The Beliefs drive their Actions (this is the essence of Sentiment)
Their Actions drive their Results (This is the chart pattern of the positions graphed out in Technical Analysis)
Looking at the Futures contract and the COT report is a good way to see what the market Beliefs are, and what Actions they’ll take, to determine the results.
However, it is the Philosophies of those traders, affected by the Fundamental drivers (and) the existing technical data before them, that cause them to develope the Belief that make them take the Action to enter into the futures contracts in the first place.
BTW I do like the point you raised about knowing and discerning WHICH Fundamental driver is the main driver. At times there are competing data points in conflict. In those kinds of murky waters, I place almost 99% of thinking into chart analysis because the technicals will trump any fundamental driver. There are times where there are legitimate fundamental drivers, like the S. African strikes that caused the PGM group to increase in price due to the supply crunch.
You look at the COT and futures contract the same way I look at long dated options. So what we both are doing is trying to determine where “sentiment” lies for direction and thus we input our “expectations” when it comes to trading.
I’m not familiar with that gentlemen you were referring to but I like his concept. I suffered (and still do at times) from a very low self-esteem. This comes from being programmed with a lot of negative beliefs and those beliefs can really anchor themselves…like a tick on a hound dog. And trying to get rid of them is EXTREMELY difficult.
So if I were ever to “teach” someone trading, I would FIRST tell them they have to reprogram their mindset before they even think of throwing money into the markets.
I concur with all those points Mark Alan. We are all programmed from birth by our parents, teachers, preachers/rabbis/monks/rishis, peers, and community to think a certain way, have a certain moral code, believe in this or that religion, or political party, or have certain presets entered into the hard drives of our conscious mind.
It is a daring step to deprogram the hand-me-down belief systems, and break free of the conditioning of our minds to think or feel a certain way. That is real freedom.
Good work and good thoughts. There are tons of great motivational or self-improvement speakers and books out there, and unless someone is perfect, then we can all work on improving ourselves.
Yeah, Jim Rohn is just one of many great minds, but he stood out because he was just this farmer from Idaho, that became good at sales and business through simple life philosophies under his mentor-ship from a business giant. He has all these funny one liners, and a really strange way of talking so he’s fun to listen to.
Here’s a little teaser into his philosophies:
Jim Rohn – Personal Development – Living An Exceptional Life
Al:
Your comments about “things not working like you learned they should” hit home.
On a different subject than economics, the book by Perkins on Economic Hit Men opened my eyes and I’ve watched happenings around the world where our actions as a nation wasn’t what I naively grew up with. The quest for money, profits and control simply kept multiplying until it has completely engulfed the world, US of A included. Certainly there are some generational explanations but today it has reached a level beyond my comprehension. What used to be somewhat fixed rules simply don’t apply anymore. Our ‘Columbus’ moment will come and I think it will be far different than the joy he must have had in reaching land.
Whats to prevent the guys with the fiat from putting it in Markets?
Nations have begun to reduce their holdings of American dollars, whats to stop those dollars from going to the markets when they return to the states?
If the value of the dollar isn’t considered, why cant the markets just continue on up?
Heck, the printers of the currency might even be wise to trade those dollars for shares.
Just bought a small cap etf . Also i bought a resteraunt stock Texas roadhouse , I like the local one in my area, plus it has a strong rate of growth. up 2 % my friend who had 60k in her IRA not earning anything. Now she has SPY and MDY AS A major part of it invested . i just started in with limit sell orders . She can earn about 2% in dividends alone. best too yo all S
More people will be moving over to dividend paying stocks as the climate gets more turbulent as the zero interest rate policies continue on. At least you are getting something while you’re holding.
So Shad, what turned when gold hit $1162 and created the pop in gold today and the fade off $1190+
So the market reacts of a FOMC statement, of course, and one can say its common sense and fundamentals that drive the reaction YET after the position you bought runs its course the chart indicators tell you to sell, nothing else
Silver stock XYZ comes out with breat news, its a common sense buy based on fundamentals as it rises from $1 to $1.50 but as the indicators turn negative its a sell how many investors would have kept a lot of their gains using that approach instead of repeating the news again and again as to staying in a long and wrong position, sounds like gold, lol
I actually agree 100% with all those comments Original JJ.
That is all I’ve been trying to say. In the example above the fundamental data point caused a change in Sentiment, traders took new positions and it affected the technical direction. After that initial digestion, then it is in the hands of Technical analysis to watch the indicators on when to sell or hold or add.
I love Technical Analysis, I think it is the only way to interpret the markets for direction and for timing, but I leave the door open for fundamentals to temporarily uproot trends or momentum (like FOMC or good drill intercepts, or an Arab Spring).
Shad I leave you with this chart, regardless of fundamentals or common sense 1 indicator had you selling gold at $1870 and NEVER buying again till the $1535 nose dive, saving one a lot of pain!
Then you need to explain how I can use old prices, place a trade and make money? History is history. Trading on future chart is totally something else since it does not exist. How many times people have been calling tops and bottoms and even that simple thing fails 99% of the time. There simply no future chart for you to trade on.
Agreed. I never bought Gold at $1870 so I’m not sure what you mean.
I bought most of my Silver coins at $10 and Sold them at $39. Then I moved that cash into my swing trading account to play short moves of 1-2 days to 1-2 weeks and use charts and TA every day.
I’m a fan of Charts and TA, and I’m not a disgruntled Gold permabull. I made money on the Silver bull and got out near the top, only a little too early. My main interest since then has been trading mining companies and is more tilted to Silver, PGMs, Fertilizers, Lithium, Specialty Metals, and Uranium miners. I do like certain Gold producers and explorers, the Gold streaming companies, and the Gold mining ETFs.
JJ,
I see lots of calls after the fact. You are always quick to point out that the technicals called this or that turn but you never do it in real time. It’s always days or weeks or months after the turn already happened.
Case in point I don’t see anywhere yesterday that you called for a big rally today.
So don’t com on here next week and spray a bunch of nonsense about your technicals calling the turn.
If you don’t make your calls in real time then it didn’t happen. Unfortuantely none of us get to trade in hindsight, so making calls in hindsight doesn’t make anyone any money other than imaginary money.
If you want to impress us then put your calls out there in real time. Don’t give us nonsense about gold turning back down at $1800 three years after it’s already happened.
Two thumbs up.
+2
+2
Hey that’s my number………… or great minds think alike…………
Well, I used technical analysis to analyze the pattern playing out of 2 Thumbs up, then a +2, so if the trend in your friend the I bid +2 with tight stop loss. 🙂
I only spend $2 at a time….they call me a tight arce……….. 🙂
my reply is below gary, I’ll wait for your apology
Very well put Gary!
I have a comment about what Al said, that all the fundamentals he learned don’t work anymore, and that only technicals work.
Of course, right now, he’s right. All the Fed intervention, and possible bank manipulation, is all unnatural and causes distortions, that have persisted for far longer than anyone thought possible.
But, this can’t go on forever. Eventually the Econ 101 stuff that Al learned will come back into play. So bigger picture, I think that fundamentals matter more than ever. Not for trading, but for investing. There’s no way to take any action on that right now I think, but it’s important to remember that this is all temporary, until market forces once again take control.
One can actually say that, fundamentally, when there is external and artificial controls put on the market, they cause distortions. That’s the fundamental lesson we’re learning right now.
Wow you guys are a lot thicker than I gave you credit for!!
gary! are you serious, wow you can’t read a chart?
I will walk you all thru this its not rocket science and if you don’t have stockcharts you won’t see the info, doesn’t really matter as most of you will turn a simple indicator into a complicated issue.
First the gold chart which was used to make a point to Shad, just think of all the experts that were calling for way higher gold Sept 2011, heck all of 2011, the point of the chart AND yes I know its 4 years old, hello!! that’s the whole point, going to fast for you gary, lol
using one indicator when it turned negative you either sell your long position or wait to buy, because I know gary you don’t like to short even with calls of much lower gold recently, talk about believing your own BS, not!
Sept 7th one goes to bed long gold ahh the world is good, Sept 8th the indicator goes negative SELL, SHORT, but don’t buy, wait for the indicator to go positive and that didn’t happen till Sept 26th and the big dump into $1535 then you buy
real simple stuff here guys, your welcome!!
thank JJ!
gary DOW, using one real simple indicator, real simple, May 20th the indicator goes negative sell your long position or if your a bull riding the bull wait to add as it signals a direction change, June 9th you go to be short or waiting to buy and today the 9th the indicator turns positive, who cares why you add to your long or remove your short position, its not 20/20 hindsight as you trade when the indicator turns which can happen during the day as it live feed
Whats so complicated, why is it so hard to follow one indicator?
Wow I give you guys far too much credit!
I’ll wait for your apology gary, frank, shad, Lawrence, thanks!….oh your welcome
should say June 9th you go to bed short or waiting to add
sorry today the 19th as the chart shows the positive turn
sorry the 10th,today, lol
YOu can lay off the bottle now JJ 🙂
its the dam crack pipe! I can’t see the keyboard, sorry!
JJ. I don’t feel that I owe you an apology for sending me a 4 year old chart with 2 MACD crosses indicating the sell and buy signals. I know how to watch for MACD crosses, RSI levels, 50 and 200 day moving averages, Fib retracements, trend lines, bouncing off Bollinger Bands, Japanese candlesticks, Elliot Wave counts, and chart patterns like wedges, head and shoulders, and cup and handles.
This ain’t my first rodeo either man, you seem to have some glorified opinion of yourself that you are the only one on this site that can read a chart. You aren’t. On top of that, pushing your chart on people that didn’t ask for it, then belittling them for your prejudice being that they couldn’t possibly already know what you are showing them, and then saying “you’re welcome” isn’t how to win friends and influence people…..just sayin’.
You weren’t doing us a favor by insulting everyone, but you were breaking off your arm trying to pat yourself on the back for discovering this amazing secret that is common knowledge to almost any technical trader. It wouldn’t be so bad if you didn’t continually talk down to everyone like they are the one that is an idiot, and you have all the answers.
You seem to have a major emotional hang up with gold newsletter writers, and don’t seem to understand the difference between a Gold Permabull (that is always bullish, always pumping, and held all the way down) and a Goldbug that sees it as a great store of value for the long haul.
I don’t know how you got this jaded, because years ago you were much nicer on this forum, but you’re acting like the douche Mike Stathis from AVA Research that just trash talks anyone tied to a sector. Sure – people like Peter Schiff, David Morgan, Rick Rule, Eric Sprott, Jim Rogers, Gary Wagner, Doug Casey, Peter Grandich, and Eric Coffin were off on their timing, but they are not dummies, not clowns, and not just pumpers. I listen to them because they are tied into the industry, know about good up a coming projects, occasionally tip me off to a stock I wasn’t aware of, and I value their 30-40 years of business experience. If you are smarter than them then where is your TV interviews, books, track records, and employees from the business you created? None of those guys are completely idiots, they were just off on the severity of the bull market, and did pump through the downturn. Anyone basing their investing of just a CEO, or newsletter writer exclusively, without thinking for themselves, is not taking personal responsibility or holding themselves accountable for their own actions.
You have sent me a gold chart several times insisting I wouldn’t have lost money holding onto Gold at the highs and listening to the pumpers, but have never asked me once if that is what I actually did and assume a great deal about most of the people you’ve insulted on this site the last few months (which is a shame, because I think you are very smart and offer good charts and analysis when you aren’t boasting or insulting).
You have developed rose colored glasses and tunnel-vision that everyone on this sits is clueless and if we mention a name you don’t deem worthy (from your exalted perspective) then we are a guru worshiper and jaded gold permabull that all lost everything at the highs.
Again,I never bought Gold at $1870 so I’m not sure what you mean.
I bought most of my Silver coins at $10 and Sold them at $39. I made money on the Silver bull and got out near the top, only a little too early. Then I moved that cash into my swing trading account to play short moves of 1-2 days to 1-2 weeks and use charts and TA every day. I’m a fan of Charts and TA, and I’m not a disgruntled Gold permabull. My main interest since then has been swing-trading mining companies (to the long and short side – both directions using the charts as my guide). My preference isn’t even towards spot gold prices, and is more tilted to miners and producers of Silver, PGMs, Fertilizers, Lithium, Specialty Metals, and Uranium. I do like certain Gold producers and explorers, the Gold streaming companies, and the Gold mining ETFs.
If anyone deserves an apology it all the people you’ve insulted in just the last 3 weeks alone. Again, I like you and some of your sarcasm, and think you are very bright, but you get so condescending that is hard to talk to you. The world doesn’t need another Mike Stathis….one is more than plenty. What the world does need is someone that shares information, coaches, and helps without being an insulting know-it-all.
Good luck to you….. and I do sincerely mean that because I do wish you prosperity brother.
Amen.
nice speech Shad, never said you bought gold at $1870 I have no idea if you’ve even owned the metal, relax pal
the whole point was to show all those that follow these gold bug pumping clowns just how dangerous it is I’m well aware as I traded my paper off the indicators but kept my physical hearing all the pump, how stupid am I, duh, it wasn’t until the very key chart level of $1525 falling that I sold my physical.
the point of showing you the chart was in the background countless fundamental reasons were given at nausea levels suggesting to da moon, fundamentals!! yet my point is 1 indicator would have had you on the correct side of all that bogus hype, if you find that insulting well I’m speechless, its still keeping those from getting long as gold continues to make lower highs and lower lows regardless of ALL THE PUMP!
it all started when doom and gloom pumper BM suggested I couldn’t write, I was illiterate, couldn’t spell and had no clue how to read a chart, everyone else piled in so what I’m suppose to roll over, F that! BM has been pumping US equity crash, US$ crash for YEARS and my point was to show by the charts just how bad his expert advice is and that makes me the bad guy!
gary has calls for the HUI to fall 35% to 70% and yet he wouldn’t hold a short position, hello and this guy gives advice when he won’t even put money on his own call, and I’m the idiot!???
those who suggest everything I say is 20/20 my god how painful when the indicator turns you turn its not rocket science, short or not buying the dow was what the indicator has suggested for 600 points! yet today it turned suggesting a long position 20/20my ass
I’m going to ask big Al to ban me from this site forever as your ALL a waste of time
Well, for what its worth, I think you have good technical analysis skills and make some good points and ask some key questions. Having said that, personally I could do without every email being about how all the gold pumpers were wrong at the top in 2011 and have been wrong for 4 years into 2015….it is getting a bit old.
Let’s just deal with where we are currently, our short and mid term focus, and try to share information on this site that will help each other do well and make money. There’s a big world out there, and it is hard to keep tabs on everything all at once, so a little teamwork makes the dream work. It is fine to differ in opinion with someone, but belittling, name calling, and antagonizing (like what you were doing yesterday to Doc about him posting a chart for his call for 2016 is a bit much).
I hope you will keep posting, and disagreeing if you want to, but for goodness sakes…..Stay classy San Diego.
Great rally today. I had been buying more xop and Intel which had a big 6 day drop. A great company and undervalued with good growth prospects.
There is so much cash on the sidelines and most of it will end up in the stock market.
Invest in HEMP………….