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US Markets Falling, A Flash Crash In Currencies, and Weak ISM Numbers

Cory
January 3, 2019

All the factors mentioned above are pushing down US markets however there are a number of sectors that are performing well. Chris Temple joins me today to share his insights on why China is such an important story for the overall heath of the markets.

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Discussion
32 Comments
    Jan 03, 2019 03:35 AM

    The miners can add significantly to their gains before having a meaningful pullback. The RSI(14) for GDX is not close to overbought:
    http://schrts.co/oAjaKj

    Jan 03, 2019 03:38 AM

    The dollar has a long ways to fall:
    http://schrts.co/cimhw6

    Jan 03, 2019 03:53 AM

    Matthew, I’m thinking I should’ve bought SLB@35 a couple of days ago. Do you think oil has bottomed? NGD looks to me like it has bottomed.

      Jan 03, 2019 03:05 AM

      Bonzo, yes, I think oil has bottomed – and NGD too…
      http://schrts.co/BDJosZ

        Jan 03, 2019 03:06 AM
        Jan 03, 2019 03:10 AM

        Thanks, Matthew. Doc thought oil would drop to 40, but if it has bottomed we will wish we had bought SLB and SU last week. But if trader Vic is right about a bear market coming we may see SLB back@35 or lower in a crash. And silver stocks may do a lot better than oils.

    Jan 03, 2019 03:53 AM

    IPT breakout:
    http://schrts.co/7MF9XZ

      Jan 03, 2019 03:06 AM

      looks like a pretty nasty reversal candle now.

      Jan 03, 2019 03:09 AM

      Someone stepped in and sold it hard (heavy volume today).

        Jan 03, 2019 03:26 AM

        The selling started right after hitting .35 — the exercise price of the new warrants. I’ve seen such warrant “resistance” get sold many times. There’s probably some top-calling going on, too.

          Jan 03, 2019 03:24 PM

          Note the black candle on the IPT weekly chart from a coupe of weeks ago. A close below .29 this week will clear it out, and it will have a clean looking chart on both the daily and weekly charts off the low.

            Jan 03, 2019 03:29 PM

            AXU has a black candle on the weekly chart from a few weeks ago too. It hasn’t left behind a black candle since the 2016 low. I’m hoping this time is different, but I’ll bet it closes below .79 at some point in the next few months. I’m not selling, but that candle is disappointing after such a thrashing.

            Jan 03, 2019 03:31 PM

            I’m glad to see so much demand at almost 50% above the late November low. Today’s VWAP with 921,000 traded, is .29 and change…
            http://schrts.co/Z67rSu

            Jan 03, 2019 03:35 PM

            Not a fan of the black candles in this sector as you know. Call it paranoia or whatever. I would be a buyer on any weakness in IPT from here, even today.

            Jan 03, 2019 03:38 PM

            If anyone is wondering, I sold less than one-sixth of 1% of my position at .3175 this morning.

            Jan 03, 2019 03:40 PM

            That was for rebalancing purposes.

    Jan 03, 2019 03:01 AM

    GDXJ double bottom:
    http://schrts.co/hdRRR9

    CFS
    Jan 03, 2019 03:13 AM
      Jan 03, 2019 03:49 PM

      CFS:
      I was going to watch the video and in the first minute the host is referencing his appearance on Fox News. I didn’t have to go any further. What part of the FOX news agenda don’t you get?

        Jan 03, 2019 03:53 PM

        Just think shiny object and monkey.

    Jan 03, 2019 03:58 AM

    The analogy I’ll use is that of my Doctor. I don’t believe in Physical therapy, but I’m going to send you anyway.
    Xi has come out and stated that Taiwan must be re-united with China. This I don’t think can be ignored. During the 08 fiasco I learned that when China catches a colds everybody gets sick. This just lends more credence to the statement that Markets and Politics aren’t connected and need to be viewed as such.

    Jan 04, 2019 04:47 AM

    I agree that Taiwan should be part of China, just as soon as the Marxist tyrants are overthrown in Red China and truly free elections are held.