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January 20, 2016
Comments (36)

Doc chats with Cory about the big move down in almost everything as well as the move up in gold. With markets continuing to break one support level after another the question remains – is the bounce even going to occur?

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Discussion
36 Comments
    Frank from moscow CCF
    Jan 20, 2016 20:01 AM

    RUSH TO THE EXIT…………

    DGHH
    Jan 20, 2016 20:21 AM

    I would believe that your 50 month reference is really 50 week or is it 50 day

      RICHARD (DOC)
      Jan 20, 2016 20:33 PM

      DGHH; it’s actually the 50 month and that’s why it’s so significant.

    Excelsior
    Jan 20, 2016 20:49 AM

    The S&P 500 versus the Long Term Treasury Bond – The ETF (TLT), which tracks the long bond, has been an almost inverse relationship to the general markets.

    http://stockcharts.com/freecharts/perf.php?SPY,TLT#

    bb
    Jan 20, 2016 20:18 PM

    Interesting Doc, your saying not much down left in goldstocks, I have been thinking the same thing, but just today, I was changing my mind, I think I can still see some big % drops in some I watch.

    We could do a Bo Polney I guess, always possible, but there just doesnt seem to me to be much interest in them yet, I cant help but think we could still get a 2016 doldrum washout.
    Demand is still being met with available supply.

      RICHARD (DOC)
      Jan 20, 2016 20:34 PM

      BB; you’re correct—it’ll get dicey as we move into MARCH since some of these will go back and double bottom. That’s especially true for those living on borrowed time.

        Brian
        Jan 20, 2016 20:57 PM

        DOC
        As you have stated several times (not to put words in your mouth), it is stock picking rather than the ETFs (GDX, GDXJ, HUI) that you need to focus on, follow, and CAREFULLY select as investments
        Always, IMO
        Brian

    Bob UK
    Jan 20, 2016 20:31 PM

    XON on another rollercoast ride today.

    Is biotech the go to place now when TPTB want to pump the markets?

    Frank from moscow CCF
    Jan 20, 2016 20:32 PM

    HARRY REID………urges calm………….. now the congress is getting excited…zerohedge

      Frank from moscow CCF
      Jan 20, 2016 20:34 PM

      Now you know there will be a crash……….this should get everyone excited, with these morons bringing it to everyone’s attention.

        irishtony
        Jan 20, 2016 20:47 PM

        Jerry…Very naughty of you…You must not call them morons…You must call them Sir & Siress…

          Frank from moscow CCF
          Jan 20, 2016 20:54 PM

          Irish……..how is everything. You are correct, moron is way to kind of a term for the esteemed men in congress.

      Excelsior
      Jan 20, 2016 20:44 PM

      An analogy of our financial markets. “Please disperse…..Nothing to see here…..”

      https://www.youtube.com/watch?v=rSjK2Oqrgic

        irishtony
        Jan 20, 2016 20:52 PM

        Ex That’s what happens when one drives a Tesla.

    Chartster
    Jan 20, 2016 20:44 PM

    I’m pretty sure the bottom of copper, steel, water, uranium, timber and emerging markets Is Today! Bull hammers on Everything!! Bonanza….

      Excelsior
      Jan 20, 2016 20:49 PM

      It’s Hammer Time….

      https://www.youtube.com/watch?v=pdOf4LDJNfA

      Chartster
      Jan 20, 2016 20:03 PM

      http://www.investopedia.com/terms/h/hammer.asp

        Frank from moscow CCF
        Jan 20, 2016 20:12 PM

        thanks for the added info…………you da man………..(of the hour)

        Excelsior
        Jan 20, 2016 20:16 PM

        I’m with ya brother….just goofin’ around. Here’s the Uranium ETF (URA).

        Hammering out a bottom with that last candle…….. 🙂

        http://stockcharts.com/h-sc/ui?s=URA&p=D&yr=0&mn=3&dy=0&id=p91856029752

          LPG
          Jan 20, 2016 20:24 PM

          Thanks for the chart Shad.
          Best,
          LPG

        Excelsior
        Jan 21, 2016 21:10 AM

        BTW Chartster – Most of my Uranium stocks, PGM stocks, and a few other commodity plays are up today, so I do think yesterday was a pivotal turn in the markets….a least in the short term.

        Also, since we were thinking about bullish hammers marking a turn yesterday, I like the one I saw on the chart of the Loonie Matthew had posted on the other market wrap blog, and used that as further validation that both the Canadian Dollar and Oil were also turning up from yesterday’s closing action.

        Thanks again for keeping it top of mind!

      LPG
      Jan 20, 2016 20:24 PM

      Thanks for the note Chartster.
      Best to you,
      LPG

    Chartster
    Jan 20, 2016 20:22 PM

    Yes Sir
    Best to you

    Alan
    Jan 20, 2016 20:02 PM

    Hi Doc,
    Thanks always for your comments. You mentioned the 10 year note would double bottom in March or April. Are you in the same camp as Rick who has A target of 1.64?

      RICHARD (DOC)
      Jan 20, 2016 20:11 PM

      I think Rick is on to something—I’ll continue to watch the note and will keep the update from a technical perspective.