With the markets coming back today are we set up for a temporary bounce?
Gary kicks off today thinking that the markets will have a temporary bounce. He still remains bearish overall but the price action today with the Chinese market recovering and the US conventional markets climbing back is showing Gary that a short term bounce into next week is in the cards.
Click download link to listen on this device: Download Show
Good charts Gary. Thanks for posting it.
Concerning Gary’s comments about the ‘Fed’ buying the conventional markets, where or how to they hide these holdings on their balance sheet?
Categories on a balance sheet can say whatever the entity wants to say.
I believe gary feels the big banks do the buying on behalf of the Fed
******* IN A DESPERATE MOVE CHINA IS NOW TOTALLY RIGGING THEIR MARKETS *********
Like the WEST, this is what is done today in order to HIDE the TRUTH, and just like the WEST their markets will GO UP every day…………WE ARE LIVING IN PURE EVIL NOW !!!
My personal opinion is that you are correct, in a sense, but look at the alternative!
What alternative!
Ya, whats the alternative?
Mark and Heathen,
Listen to our Daily Editorial today with Rick.
Thanks much for your comments.
Both happening, China uses force and US uses derivatives and cheat.
I got a bet on Russia (RUSL) @ $20.50. I removed my stop yesterday since it was going to gap down before the ding dong. Might put it back today for protection. Waiting to re-enter on JDST if I can get in around $8.50 or better.
I see one of my favorite Chinese petrol stocks SHI is up $7 today. Guess that crash didn’t hurt Sinopec.
Happy trading!
Thanks Jason and way to go in your investing.
Thinking the Central Banks are all powerful, can stop a crash, arrest a crash at 20-30 percent, have no clue whatsoever. Talk about LA-LA land.
Samaki,
In the long run, I believe that you are totally correct.
Gary does not believe they can prevent the crash from coming…just delay it! (and he feels they will make the eventual correction much worse)
I’m not so sure if the conventional market will stay ‘stable’; I think every trader with a bit of brain power will be very suspicious since what happened on the NYSE yesterday. If that was not the writing on the wall, I don’t know what is. I’d sell anything into any rally right now. If most do that, this thing will roll-over quickly and a healthy little wash-out might follow.
They are calling China a ‘dead panda bounce’ here in the UK.
🙂
spot on
good one!
Al…. what are you saying… I don’t have a clue (sumaki — long run ) and ‘the alternative’..
would you not agree at some point control is lost…or would you say …never?
I know I have mentioned this in the past, but I think it still needs to be mentioned….especially if you want to educated yourselves about the Greek situation and how they got there and where it is going. Listen to Doug Henwoods radio show….http://www.leftbusinessobserver.com/Radio.html..scroll down to his January 29th program where he plays integral excerpts from some of his 16 interviews with Yanis Varoufakis before he became the Greek finance minister. He is clearly not interested in a “Grexit.”
I THINK WE HAVE BEEN IN A BUBBLE SINCE …..DOW 14,000
When do you think it may pop FFM?
Not for awhile ….according to some sources……the Chinese just screwed up their chances to get in the SDR…for this go round……….and it will be 5 yrs. before they get another chance………..
they screwed up their chances, by their action in the stock market…
article at FSN……..today………
Good thoughts Frank….The BOOT. Wild times!
thanks Shad……… the BOOT
Frank has it right, it has been a bubble since 14,000.
I am not sure about a correction waiting until the fall; however, the market leadership must change. During every dip, the same stocks are sold to cause the dip and then bought back. I don’t see this happening much longer and volatility is building. Again, if the FED does not raise rates, they will lose credibility. No more QE for 2015, even with market correction. QE will be re-instated if another financial collapse begins. The magic line is the SPX 2040 and until that is broken with force, dips will be bought and the same trading style will occur.
thanks Richard……………
Gary, just wondering: Is your climbing symbolic of “The Wall of Worry”?
I thought maybe, but was thinking of my own experience bicycling or running. It’s where I do some of my best soul searching/idea harvesting.
could be CLIFF DIVING……..
SMT portfolio update
http://blog.smartmoneytrackerpremium.com/2015/07/smt-portfolio-update.html