DOW JONES opens up 125 (25,250)...the going now gets tougher....just a 'bounce' or is there more? ( GOLD and Silver HUGE this A.M.) STATMAN comments
Good morning my friends. The US equities market opened up strong today but I expect it to settle back and digest the 800 points, or so, it gained since we said there should be a strong rally, 1000 points or more NOW! Sentiment has been the most bullish in two years as "DUMB" money buys at the top (over 26,500) and rushes for the exit 2000 points lower!
I ask you is there much more left in a serious down market that will be labelled a "bear market", or is this just a correction albeit a nasty one, in a bull market? After all, the decline has been 9 percent. I'm not sure! I have said I am out and did not buy this bounce although I would have had no problem doing so. 1.) election coming up 2.) seasonal weakness about over 3.) very oversold, etc.). Just not what I do these days! (had many years of it..lol...I like to sleep well. So the longer term investor I am sold ALL in mid-Sept (26,500 and did not short! (although Sentiment said short!) Besides, I believe strongly, serious trouble lies ahead in 2019. I do believe you will see 20,000 Dow-Jones. That's down the line, however.
I'm in the precious metals. They are up huge today, gold up 16.50 and silver up .40. Read my report just the other day..with gold ans silver a bit higher....we said a
little weakness to come now. No concern! We pulled back 2-3 per cent!
The charts above are compliments of "Captainwave" and stockcharts.com. They are there because I believe (to me) this fellow has been very very good. (As well as the legendary Rosen). Sentiment has been great of late although a little less so recently. I am anxiously awaiting tomorrow's COT report. Let's see what the big guns are doing.
There are numerous reasons why gold and silver are going higher....much higher. The "choppy period" is soon coming to an end. Watch China (just for openers).
Enjoy the resat of the day, and Thank you...(the opinions are mine, please do YOUR 'due diligence')
Awsome Post!
Even though the market opened strong, the 10-year treasury yield might recover, though it shows signs of a downward pattern. I think it's something we should keep an eye on!
Read my Disclosure.
spot on...and thank you/!
We are in store for an interesting market next week as participants digest mid term election results and potential implications for the economy.
For sure...to be very interesting indeed..and thanks again!
I think it could crash the a few months.
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no surprise here....but 2019..
Yes. Late Jan or early Feb. Is my guess
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Great report Statman! I agree, I would not be buying this market. Way overdue for a major decline. Metals way overdue for a major run. Is this the start? Will watch your blog to find out! Thanks for keeping us posted and have a great day!
and the same!!! thank you..