Is This Going To Be More Than An Oversold Bounce For The Markets?

December 28, 2018

Chris Temple joins me today to look a bit closer at the US markets and address if this current bounce in going to be more than just an oversold bounce. We address what the administration could do to help the markets and how important China is to a wide range of sectors.

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    Dec 28, 2018 28:50 AM

    GPL finally making a move up. The base on the daily chart is ugly, but I guess it will have to do. Next stop is a touch of the 20 WMA. Maybe that MA catches down to price, or vice versa, or a little of both. It’s got its work cut out for it. If it has a cleaner base I would feel more confident about it, but I’ll assume the low is in for GPL. It’s been utterly trashed.

    Dec 28, 2018 28:58 AM

    Likely loonie low…

    The downside risk from here is probably less than 1%.

      Dec 28, 2018 28:03 AM

      By Richard Leong
      Dec 28 (Reuters) – The U.S. dollar’s share of currency
      reserves reported to the International Monetary Fund fell in the
      third quarter to a near five-year low, while the euro’s share of
      reserves grew to its largest in almost four years, data released
      on Friday showed.
      Ranked second behind the greenback, the euro’s share of
      global reserves climbed to 20.48 percent, its biggest since the
      fourth quarter of 2014.

      Dec 28, 2018 28:19 PM

      Oil, silver, and copper had a pretty bad year. Looks like gold might be down a percent if it ends slightly up on Monday.

      Pretty good year end close for some of the metals. Canada looks to have some control of its debt, compared to the US. Curious how the USD/CAD currency chart will play out. Historically there has been a spike in January with a drop down following close behind

        Dec 28, 2018 28:36 PM

        The dollar-gold double top looks good:

          Dec 28, 2018 28:52 PM

          I’m not that great with charts, but 2016 just looks almost weak compared to what can be potentially coming up here really soon.

        Dec 28, 2018 28:44 PM

        Gold:UDN is heading for its highest monthly close in almost two years and that is a good sign: (monthly for those who can see it)

    Dec 28, 2018 28:35 AM

    2019 predictions.
    Stock market flat to down, with risk of a serious break down.
    Gold flat to up, with a chance of a serious break up.
    Chance that Drew Barrymore will ask me to marry her, practically zero, same as last year.

      Dec 28, 2018 28:47 AM

      Maybe Matthew can give you some stalking tips.

        Dec 28, 2018 28:27 AM

        So, spanky, it wasn’t you who started up again yesterday after whining constantly for a whole year because you don’t have a clue?
        Buddy, you’re one remarkably dumb little bitch.

          Dec 28, 2018 28:28 PM

          you’ve got a foul little mouth on you. Speaks volumes about what a classless, frustrated little weasel you are.

            Dec 28, 2018 28:33 PM

            You deserve nothing but the foulest.

            Dec 28, 2018 28:35 PM

            I’m actually disappointed in myself for holding back. Face to face, I’d tell you what I really think of your worthless ass.

            Dec 28, 2018 28:41 PM

            I’m shaking…

            They have anti-stalker laws in most states now. Watch yourself psycho.

            Dec 28, 2018 28:07 PM

            You’re projecting something I don’t want to know about with that stalking obsession you have.

            Dec 28, 2018 28:09 PM

            Says the guy who records posts of people from 1, 2, 3+ years ago to use against them (damn the context!)….

            Oh my. lol.

            Dec 28, 2018 28:14 PM

            I have thousands of charts, of course the ones with comments might sit there for years! Why wouldn’t they?

            Dec 28, 2018 28:22 PM

            Learn to read. I said posts, not charts. You know, posts on this message board. My god you are a pathetic little weasel who will twist anything possible to support your propaganda.

            Dec 28, 2018 28:28 PM

            Well I’ve got news for you then: I save exactly ZERO comments other than the ones that make it onto my CHARTS. Idiot.
            Here’s one that should be kept for years since you made a call based on years:
            Let’s see if you learn from that one.

            Dec 28, 2018 28:05 PM

            Are you really this dense?

            You take what people post here, and YOU note it down on one YOUR charts to throw back in their face, context be damned, if the need ever arises. You are a psychopathic weasel.

            Dec 28, 2018 28:33 PM

            Nope. Context matters and irresponsible high-and-mighty dirtballs like you are part of the reason for posting most of them. You’ve been crying and soiling the site for the last year with your tantrums and has zero value. It seems everyone but you can handle my opinions about the market without flipping out. People like you should give their money to a professional.

    Dec 28, 2018 28:38 AM

    For those who aren’t a complete and total spanky, here are some resistance levels for DIA:

    Dec 28, 2018 28:42 AM
    Dec 28, 2018 28:45 AM

    SLV:GLD at important resistance:

      Dec 28, 2018 28:47 AM

      Only a spanky could fail to see that that Schiff fork is working.

    Dec 28, 2018 28:04 PM

    Buy what makes spanky cry, and you’ll have a great 2019!

      Dec 28, 2018 28:24 PM

      Lol. WTF are you talking about. You are the clown that said $CDNX looked fine at the beginning of 2018 after that massive pump and dump. Don’t you remember you poo poohing my concerns??? Of course not, you revisionist charlatan.

      I have been saying $CDNX is a buy for the last month you moron. Could it go lower? Sure, but I have been saying we are close enough to the 2016 low.

      My god you are one delusional narcissistic psychopath of a charlatan.

        Dec 28, 2018 28:33 PM

        On December 27, 2018 at 8:35 am,
        spanky says:
        Awful action in $CDNX on the daily chart. Even if it manages to bounce in the near term, it is most likely just setting up a lower low weeks or months later.

          Dec 28, 2018 28:34 PM

          Buy what makes spanky cry or you’ll regret it.

            Dec 28, 2018 28:38 PM

            I would expect a retest of the low with a divergence after such a slaughter. But go ahead and tell people to go all in “THIS IS IT!!!” You charlatan. Go ahead and ruin more lives.

            You are hootin and hollering after it pops up for a week after a year of utter destruction. You are utterly insane and are completely ignoring your bullish outlook at the beginning of the year.

            Dec 28, 2018 28:39 PM

            Who said go all in? You’re a lying amateur.

            Dec 28, 2018 28:43 PM

            Then WTF is the point of showing a chart of a little pop after a year of utter destruction you moron!!!! WTF are you trying to say? nothing goes down in a straight line? Wow, congrats! Tell people what you really mean before you ruin more lives you charlatan.

            Dec 28, 2018 28:53 PM

            And you have the gall of accusing me of being a contrarian indicator after you incessantly pumped IPT and USAS over the last two years to KER posters? lol ok

            You have ruined lives my man!

            Dec 28, 2018 28:55 PM

            Nooo, you buy in tranches as the turn proves itself. Going all-in is not a bad idea either as long as you know how to manage the risk. What you don’t do is buy rhino horn tops like you.
            You had no regard whatsoever for either the technical situation or the bubble valuation as you pounded the table to buy AMZN. However, since I am not a slimy collectivist, I will not accuse you of ruining lives. Of course, those who might’ve attempted to shun responsibility for their own actions and bought your nonsense, can’t be happy.

            Dec 28, 2018 28:58 PM

            PS, they are both finally buys now. Of course, some of the people who bought them over the last 2 years unfortunately sold them recently at or near the lows (probably from despondency) when they should have been buying hand over fist. There are at least 2 people who have admitted this at KER. (I can’t remember their names off hand.) Likely many more who are too embarrassed to admit to getting wrecked.

            Dec 29, 2018 29:35 AM

            Spanky anyone making any trade only has one person who is responsible = themselves.

            Anyone that is trading based solely on comments from a blog forum, without doing their own DD shouldn’t be managing their own money and has nobody to blame for a bad trade but themselves.

            Lastly, your comments appear to assume the worst case scenario all the time as if all investors jumped in at the top of the epic run in 2016, instead of getting in far earlier and still sitting in large gains in many stocks.

            Smart investors were fading and taking chips off the table in July and August of 2016, because I know many of us were suggesting that to lock in gains off that surge.

            Further more, as we’ve discussed over and over again, there have been plenty of other good trade setups by adding in December of 2016 for the Q1 run in 2017 during Jan/Feb which was another opportunity for gains in the very Gold and Silver mining stocks you whine about day in and day out as if nobody ever traded them.

            Again there was a good trade set up buying at the end of the Summer Doldrums in July/ Aug 2017 going into the September rally. We discussed this on the KER far in advance of it playing out.

            There was also the wise strategy to position during tax loss selling during of December 2017 and getting positioned in front of the FOMC rate hike obxe again, that we discussed far inadvance of mining stocks surging for months.

            Again, these stock haven’t been buy and hold investments like general equities as they are very cyclical in nature and very volatile. There has been plenty of money to be made for traders following the seasonal trading patterns ( despite those that dismiss them and missed easy freakin’ trades).

            In addition there have been many takeover transactions in companies that were beat uo with good assets in the resource sector for anyone paying attention to valuations, strategic partners, and proximity to larger miners.

            Lastly there have been dozens and dozens of exploration companies that have popped for investors following the news flow, watching their corporate presentations, reviewing ceo interviews from the mining shows and doing the homework.

            It is getting tiring to hear you constantly go on about how traders bought at the top in 2016 without making any gains and then acting like they held all the way back diwn without locking in gains, without trsding any of the other rallies and just sitting there like Old Turkey roadkill. Only an idiot would have done anything like that, and they shouldn’t be managing their own trading accounts if the bought the top and held all the way down.

            Enough already.

            Dec 29, 2018 29:05 AM

            Well said, Ex. Those who think a shot at huge gains comes without huge risks have no business investing in anything.

    Dec 28, 2018 28:23 PM

    ALERT!! Coinbase Just Delayed My 10 $Litecoin Withdrawal for 3 Days!! (Bix Weir)

    Dec 28, 2018 28:58 PM

    Again, unless you’re a complete spanky, this is opportunity knocking:

    Dec 28, 2018 28:04 PM

    Gold pushed through three important resistance levels this week and finished well above the weekly Bollinger Bands:

    Dec 28, 2018 28:17 PM

    Silver closed the week well above its weekly Bollinger Bands for the first time in years and looks better/healthier than it did at the beginning of 2016:

      Dec 29, 2018 29:08 AM

      That’s an interesting Silver chart to review Matthew. Thanks!

    Dec 28, 2018 28:39 PM

    The big bounce in stocks this week did not accomplish much for the bulls. Maybe next week: