Our Weekly Market Wrap for Friday, December 16th
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The Markets took a bit of a break today. Will we go back to the Bull in the new years. We think so, but perhaps not to the extent we have seen since the election.
No one likes waiting but I don’t consider 1100 to the line in the sand. The 1085 area or even lower wouldn’t be a problem but I do not want a new low that takes out the 2008 high. THAT would change my bullishness even if the miners went on to have the bull market that I believe has started.
http://stockcharts.com/h-sc/ui?s=%24GOLD&p=D&yr=1&mn=3&dy=0&id=p14822843145&a=280360753
Another variation on the weekly gold theme. The long-term up-trendline is matching up quite closely to the 2015 low and 2008 high. What a setup.
The 144 month MAs are intersecting for the first time in 13 years at 1099…
http://stockcharts.com/h-sc/ui?s=%24GOLD&p=M&st=1989-12-25&en=2016-12-16&id=p70024261682
It looks like gold is going put in its first right-translated yearly cycle in years…
http://stockcharts.com/h-sc/ui?s=%24GOLD&p=W&yr=3&mn=6&dy=22&id=p40638527770&a=494157486
Tim Wood has been calling for a 9 year cycle low all year. That didn’t alter my view that this is a new bull market starting but it did keep me nervous about the potential for a very deep retracement or even a double bottom.
Looks,like half the year it went up, and half the year it went down, give or take a week.
Hardly something to get excited about.
I guess for those who want to grasp at straws you can call it a right translated cycle by the skin of its teeth.
Of course time more often than not is subjective anyway.
Price trumps time every time
31 weeks up, 23 down and you obviously don’t understand Tim Wood either big surprise. James the buffoon must go.
Wasn’t Tim Wood also calling for a stock market collapse in 2016?
TIM WOOD MUST GO
keep draining the swamp
Anyone here care to know what Gary Savage has been doing this weekend? He has been eliminating all subscribers who ridicule him about his bad trades including myself and about ten others or more that I’m aware of. He’s running a complete dictatorship within his compound with a Napoleon syndrome attitude. He is also deleting negative comments on his free blog and then banning the posters! What a creep.
Is he still calling for general markets to drop imminently, after having ridiculed throughout 2016 anyone who doubted his thesis that they were going to launch into a blowoff bubble phase?
The markets should correct up to about 5% at most in January and no need to get alarmed as they will come back strong. The dips could be quite small as there are so many dip buyers waiting for the tiniest dips to buy more stocks. The significant corrections will likely be in the July to October period.
When he was on this site he would get offended at anyone (including me) calling it a bear market rally.
Yeah! He’s been dead wrong on everything lately!
Guys just found this too!
http://smartmoneytrackerpremium-exposed.com/?replytocom=224#respond
Sorry here’s the top page:
http://smartmoneytrackerpremium-exposed.com/
I read his free blog fairly often and find it useful. I do find his ‘everyone but me always gets it wrong’ rhetoric to be irritating.
But this SMT exposed site looks over the top to me. There’s been this strange feud between he and Avi Gilburt for quite some time now. Avi was quite a provocative jerk to Gary when Gary was still participating at KER. And Gary wasn’t big enough to refuse to rise to the bait. Or so I saw it. I haven’t picked through his trading record. But as I say, I see plenty of useful insight on his free blog.
Anyway, that’s about all the time I have for this kind of thing. I glean insights where I can, do my own analysis, and take full responsibility for my trades.
The old saying (investing 101) buy low and sell high never looked so ominous, regarding the conventional markets. The smart money is out, the rest will be bag holders.
( bag holders for a ..long time.. )