Is this a major topping pattern in the markets?
Rick Ackerman is back chatting about the conventional markets and thinks that the markets are in a major topping pattern.
Click download link to listen on this device: Download Show
BB – It has been pretty dangerous to short the general markets the last few years, but I do take positions in the SPXS (3x bear on the S&P 500) and TZA (3 x bear on the Russell 2000) from time to time. I am looking at August or early September as a general guideline, but an mostly watching the technical indicators for the signal.
Do you have a shorting strategy you are deploying at present?
Cheers!
Gentlemen, see my comments on this in the section with the Daily Editorial that Cory did with Gary today.
Yep, all our comments on this idea also are posted on that Gary thread as well.
Good luck in everyone’s trading!
As long as yields keep going down, stocks will go up. I am so tired of the major topping pattern posts …. 6 years and counting on this site.
Reason the EUR went up yesterday was the Swiss intervened in the currency markets. It was not the Euro was oversold reason.
That’s what Gary had to say and I agree. I don’t think they will be able to prop it up for a long time though.
Rick must have been guessing top for 20 years.
I am shorting the Juniors like a BIG DOG!
Can’t argue with that right now or for the past month and a half. That said make sure you do not get caught when they do find a bottom.
Only guesses say they wont stay at a bottom for years.
All calculations could have been done as to how many mines continue to operate at these levels.
It is a managed market after all.
Managed market it is. While a lot of mines can not be sustained at this level there are still a number of them that can.
Latest news out of Greece this evening is that EU has rejected the latest proposal.
lol
Greeks are delusional. They have no bargain chips, surrender or suffer. People say don’t cut the hand which feeds you. There is some truth to it. I never see a rude begger. If they want to be robber instead, they have to be strong.
Interesting point, Lawrence.
I have not seen a definitive statement to this fact and I checked two sources.
greece has no bargaining chips…. really….?!
you have heard of russia… and putin…?And not paying
their debts…?And Germany being sick of including other countries
in their budget….??
All the other are smoke and mirrors. It is very bad faith and immoral. If anyone want borrow money from me, I want him to be humble.
Interesting comment, Agatha.
Agree. And I read China is offering to help. Plus they have their gold, as mentioned on Al’s blog a few days ago.
That is exactly what I think the Euro leaders and leaders in the west are concerned with. If China steps in and builds an alliance it could really make people take notice.
But we do need to consider that Greece is not bringing many positives tot he table. If the Chinese markets continue to plummet they have other things to worry about. Also consider that the wealthy people Asians continue to move money to the west.
Jeb Handwerger: Fed Interest Rate Increase Could Be Best Thing to Happen to Gold
Source: JT Long of The Gold Report
June 30, 2015
Thanks for the link, Shad
Glad to share Big Al.
For anyone that may be interested, this video presentation from 2 weeks ago is still on target, and Jordan addresses his perspective on why he feels sub $1000 gold is not very likely, unless it is just a momentary dip below it. He sees the strongest support in the $1050-$1000 zone. It’s a pretty good short presentation he ends the presentation with a falling wedge discussion as well. I tend to agree with this outlook the most, as I’ve been targeting $1044.70 as support zone.
This is also very similar to Doc Postma’s outlook, and Gary’s outlook, so there is definitely some synergy in some of the analysis lately.
Precious Metals Market Update: A Technical Update on Gold – Jordan Roy-Byrne
BY COLLIN KETTELL ON JUNE 17, 2015
http://palisaderadio.com/precious-metals-market-update-a-technical-update-on-gold-jordan-roy-byrne/
Checking Market Breadth
06/29/2015 | Tiho Brkan | Featured
Post Source: ShortSideofLong
Chart Of The Day: Number of stocks making new 52 week lows is rising!
Tiho Brkan Comments on Gold, Silver & Gold Stocks
06/26/2015 | Jordan Roy-Byrne, CMT | Featured, Podcasts, TheDailyGold Podcast
http://thedailygold.com/tiho-brkan-comments-on-gold-silver-gold-stocks/
2 very interesting paths that Gold may take over the next 3 weeks. Very insightful.
Also covered in the Tiho Brkan audio from 06/26/15 are gold miners and in particular GDXJ’s strength this year; then it gets into the strength of Agricultural Commodities; next the “triangle” pattern forming in Emerging Markets as the range has been coiling and narrowing for 5 years, and lastly he thinks the US dollar may test the 100 level again. Very insightful thoughts to consider.
SFJ Big Three Video Update, July 1, 2015 – Technical Analysis by Morris Hubbartt
Continental Gold, Guyana Goldfields, Tanzanian Royalty Exploration Corp
http://superforce60.com/video/2015july1sfjbig3/2015july1sfjbig3.html
For a take on synergy I suggest reading Fred Hickey on the Sprott interview on zero hedge
today….=the precious metals…hes been around more blocks..
Good suggestion Agatha. Do you have a link to the article? I couldn’t locate that interview on Zero Hedge today. Thanks.
Nobody shorting the markets?