Joel Elconin – Whether You Like It Or Not Buy The Dip Continues
Joel Elconin, Co-Host of the Benzinga PreMarket Prep Show and Editor of PreMarket Prep joins us to share his thoughts on the US Markets and the continued buy the dip mentality that is pushing markets higher again today. We discuss how recent data has largely been ignored with Covid news being the main driver. We also look ahead to the Fed meeting next week that no one seems to care about.
ALL great shows…Been busy in general this time of the year…But I have nothing but high regard for the KER programming…Thank you all….🔊💥
if you look on the ETF’s like qqq spy the volumes are contracting big…so may be getting near the next minsky moment?…It eventually WILL occur…So even a test of the consolidation range low w volume takes us to oct 4 high volume bar…glta traders…for me the signal would be closing again below the 9ema or OUL after tagging the highs for a retest…I have been trading my arse off to compensate for my nat gas trade gone bad….i just learned that nat gas is called the ‘widow maker’ by the street…i now know that…lmao?…but i am a better trader than most hacks on the street……i am close to even again on that with my wrong positions at BOIL 32.50 intact
Thanks Larry. Your feedback about the show and the insights you share with the KER crew here are very much appreciated.
Shorts must be avoiding the General Markets with this never ending “buy the dip”.
The markets over the last dozen years are littered with the carcasses of dead bears that tried to go all-in and short the markets. They all wanted to be the ones that called it, so they could beat on their chests about calling the top, and then possibly be featured in a blockbuster film like The Big Short. The general markets have been on an artificially juiced journey higher since 2009, and every time it looks like there is a corrective move setting up, investors buy the dip. That is all they know at this point in the cycle, and thus far they’ve been right to do so.
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Of course, this will work fine… until it doesn’t, and everything comes to an end, even the longest running bull market that seems to be like the Energizer bunny and keep going… and going… and going…
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Personally, I’ve shorted the general markets about a dozen times for short periods of time during this long bull market, but barely came out with a wash. I had profitable trades, sideways trades, and losing trades, but never bet the farm, watched it closely, and limited both losses and gains by being vigilant. There will be a time to really unleash the big short bets, and it is very likely to be in 2022. Until then… the dip buyers will continue patting themselves on the backs and high fiving each other. This too shall pass…
Amazon down for thousands worldwide
https://www.rt.com/news/542483-amazon-down-thousands-users/
I recall my trading site going down a few times.
I wonder if it could happen on a large scale.
Atms, banks etc
Just another reminder to keep some cash around. Shoebox full of fives.
Aussie U miners generally up 5% yesterday. CGN(1164:hk) up 8%. Today DNN up 8% also.
Yeah I did a quick flip on uranium royalty buying it Monday morning and popping it out this morning on the nice little bounce. Might be wrong but wouldn’t be surprised if there’s one more move down towards the 200 day MA…most of the uranium plays are still above their 200 day
I’m glad there are a few other investors playing in the Uranium stocks and discussing it here on the blog. Sometimes it feels like a lonely activity here, where other chat forums are full of investors discussing their Uranium trades and stocks.
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Personally, I’ve been more active in the trading back and forth of Uranium stocks over the last few months, than I have been over the last few years. I’ve done dozens of trades in UUUU, URG, DNN, UEC, NXE, AZZ, PTU, and earlier had traded STND a few times. I’m out of AZZ at present and will likely just buy EU moving forward since most of the takeover arbitrage in AZZ has been cleaned up lately.
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I’ve enjoyed accumulating during the recent pullback, and was hoping for a bit more of a smash down.
However, I get concerned that we may not see as much of a correction as one would hope for on days like today where the U-stocks took back off to the upside in a big way. I’m about 3/4 positioned at present, and would like to add 25% exposure to the basket of uranium miners in my portfolio if we get one more good pullback in the sector. If we don’t get it, and the sector just keeps blasting higher, then at least I have a few good seats at the table.
I agree Ex that the move could be sudden upwards but it’s hard to argue with TA and time and again Matthews calls when looking at it with complete unbiased view has been spot on. A pullback to the 200 day and some consolidation at that level would seem appropriate and healthy.
As for playing the oversold bounces, I’ll beat a dead horse by reiterating that the leverage in uranium royalty warrants(that don’t expire til 2024) are the best way to play it. Yesterday’s move at one point was 30%. I didn’t get in at the bottom on Monday or out at the top yesterday but did get 20% of it so I’m happy with one day in the tax loss selling season
Colombia’s Biggest Bank To Offer Bitcoin Trading
https://www.zerohedge.com/crypto/colombias-biggest-bank-offer-bitcoin-trading
El Salvador and now Columbia,
Bob is either wrong or the world is so desperate to be rid of the american dollar they are beginning to prefer a big “con” as currency.
Morning hit of metals started about 3 hours ago in the paper metal futures market…
Another day, another hit … same plan
Alisdare MaCleod has a couple of good presentations worth listening to.
One on http://www.kingworldnews.com
Another last week on http://www.tfmetalsreport.com
Craig Hemke’s site is subscription but you can scroll back to last Thurs area and look for the interview of Alisdare and that is open to public.
Talks about the status of the LBMA and the physical gold market in general. Talks to a lot of issues that possibly shed light on miner price suppression.
Wish we had not promoted Hemke so much here on the KER………
Give and take… and now the TAKER, is charging for info… lol….
Craig has been a paid site over 10 years. I think to be fair to his guests, he has interviews free to public so guest is free to post it on their site.
We are much more fortunate here as we get a lot of quality stuff moderated by top notch hosts for no cost. Hard to top.
Agreed Lakedweller2. Nothing wrong at all with people have subscription based services, and Craig has had that set up for a decade, so that is nothing new. Many of our guests have subscriptions. As you mentioned these guests come on here for free to spend time with our audience, and do many free interviews on other platforms, which makes Craig and guests like him a GIVER not a taker. I don’t see where the problem is?
Come on Ex………. they come on to get more payers… to their site………. nothing is free,
except what some of the contributors have done for FREE FOR YEARS………… JMO of course… 🙂
Since most of the newbees ………… have not been here from the beginning , they know nothing of which I speak………… so, those that have not been here, … do not know… just saying… 🙂
Heck,…. We were here before Cory…. lol………
What was the other person, … that Cory had as a side kick….I think his name started with a “C”……………
Sure, there are people on the blog that have contributed for years for FREE, but there have ALWAYS been guests brought on the show that had a paid service to highlight. Yes, that is is why these various pundits also come onto the show as guests for FREE to spend their time with all of us, in case people may be interested in their service, and because most of them have the heart of teacher and love talking the markets.
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It just seems weird and a bit unfair to only single Craig out as someone with a paid service. Almost everyone we bring on has a paid service.
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The way we are able to keep the site FREE is because we work off a sponsorship model, and they are who allow us to keep the lights on, which are the company interviews. Pretty simple.
He was singled out………….. because someone else mentioned his name……..
and you may not recall…………. I am the one who promoted him, ….YEARS AGO….
before he was brought on to this site…. just saying….. and if, you see my note… you might see that I said . “wish I had not promoted him so much”………..
DO NOT ADD ANY THING ELSE TO THAT MESSAGE……………
Everything has changed since the beginning….. and so be it.
I have no problems , …………. this might be going into overdrive….. 🙂
Yes, I remember the discussions about Turd Fergusson years ago, because you and I were the ones talking about him, and posting his work, long before he was a guest on the show. If you remember I was also one of the voices encouraging us to hear from the Turd back in the day.
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In addition, if you recall I ran those faux commercials on here for Precious Metals Depends, in case the PM markets take a dump, and people did a laundry drop when they looked at the price action. I always joked that they were sponsored by Turd Fergusson, before I think the Big Owl or Cory even was following him. Haha! 🙂
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It’s all good man, and I’m not taking anything away from all the great content shared on the blogs for free. I’m just saying that most of the economic guests that have come on to talk the markets have some service, most of them paid services, that they are offering. If not then their sites run on traffic generated and a sponsorship model, so they like the cross-site traffic. That’s what keeps it all running so that there is a blog to comment on my friend. That was the only point I was making.
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Cheers!
Absolutely………… No problem here………….
Always appreciate your comments………… DEPEND ON IT……….. 🙂
and yes,,,,,, I remember the depends… lol
We’ve had some good times on here OOTB. Yes, DEPEND on it! Haha! 😉
Ditto………. on the GOOD TIMES….. I would have to say….. a LOT OF GOOD TIMES….
The Cars ― Good Times Roll (1978)
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https://youtu.be/7BDBzgHXf64
g00d one……….. 🙂
More work was put in before he came on the seen…………. way lot more work………..
Give me a break………..
Jerry:
I am a newbie and know nothing of the history. I know this site is a good one.
A lot of people before…………… MADE IT WHAT IT IS……………. FOR FREE…………
Sure. As stated above, this whole site is free to listeners and those that contribute on the blog because it works off a sponsorship model. However, almost all the guests we’ve ever brought on had a paid service which is why they want to come on and showcase their insights to our audience, in addition to the fact that they like our audience.
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The interview content though is why people have come to the site since it began, and the blog is also nice value add, but not the reason for the site traffic. We have upwards of 20,000 unique visitors to the site each month and most of the interviews have several hundred listens+, in addition to the Apple podcast listens, Kitco soundcloud listens, and other sites that share the audio files. That is where most of the site traffic comes from.
Nothing wrong with a ……………. SPONSORSHIP MODEL………… 🙂
Agreed OOTB. It is either a paid subscription model or the sponsorship model. The KER elected to go with the sponsorship model, and that is the way we aim to keep it for the foreseeable future.
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We appreciate the sponsor companies that come on and believe enough in the investing savvy of this KER audience that they feel we are the right group to communicate with…. and they’re absolutely right to believe that.
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We have an amazing group of folks here, not just on the blog, but the massive number of listeners every week, often sharing the interview in a viral way and keeping the conversations happening on many other platforms.
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For example, there are company interviews we do here that have 300, 500, or 700 listens, but that don’t have any comments on them on the blog. However these interviews generate emails to us and the companies, that get reposted on other chat forums and have whole threads of comments about them, or some guest or company will repost that interview on their website or Youtube or send it out on Twitter, and then a whole other blog tread conversation breaks out. It’s pretty wild how far a good message will travel.
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Ever Upward!
The madness continues until “by the dip” stops or a black swan lands.