Five days ago we wrote: This indicator SELDOM WRONG FLASHES BIG CAUTION for the Dow! DOWN 814 today! What's ahead? STATMAN COMMENTS.

in #money5 years ago (edited)

It is 4:15 on the east coast of the USA and the markets closed 15 minutes ago.

To be clear, we have exited this market about two weeks ago at approx. 26,500. And felt as I wrote this morning as much as 2-4 percent remain to the upside...."maybe". IN fact the put - call ratio I look at did not tell me 830 points down today. It looked decent after the previous 500 point decline over the past few days. Remember we almost touched 27,000 3-4 days ago.

See my post 5 days back!! The put-call ratio flashed sell but not as bad as January. I LOOK LONGER TERM. My days as a trader are long over. I even wrote I'm selling, not shorting.

mutual fund cash pos..jpg

WE are contrarians! See the chart above. When funds are cashless get out! When they are in cash the market has sold off and they at bottom are in cash. Always stay ahead of the crowd!

That's why you want gold and silver. These people will like gold and silver when we approach new highs (and we will) two years out.

dow1010.png

See the chart above, please. Notice mid January and our sell. The April buy (24,000) and the sell about two weeks back and reiterated just several days ago. Notice the Bollinger Bands indicating overbought and oversold, are a lovely little guide. Not rocket science folks, just market psychology. Almost 40 years does help, I guess.

So where do we go? Expect a snap back rally. I'm not interested. Just sitting back waiting with my hard assets. Watch Mr. Trump spin "nothing to be concerned with", just a normal correction, etc. He will now pressure the Fed. Chairman to drop rates. It's pretty tough for our treasuries to do well when China and Russia don't want them. They want GOLD. And, are loaded and buying. So are the big COMMERCIALS.

The PUT CALL ratio at the moment is almost approaching what we saw in April, but not quite. The plunge protection team is working overtime at the moment to get things "OK" for the election. My take? If you haven't sold in September or even last week you'll have a second chance. That's just a "hunch" and I don't like hunches. STATMAN wants to see the stats!

Sleep well with your precious metals. You are soon going to be very happy you have them.

Thanks for the support!

Sort:  

I think that this gets very interesting soon, I have the popcorn ready for the mainstream media shows!

indeed...but "if" I had shorted 5 days ago, I'd cover...can't be greedy..lol...thanks for all our support

Interesting DXY hasn’t seen much weakness, especially after today’s. EUR still bottoming in my opinion. Agree gold could be looking good soon enough, reaching decision time. Check out the gold/silver ratio here as well. Suggest we could be at a point of real significance in the precious metals. https://steemit.com/trading/@technicaltrader/gold-to-follow-silver-higher-breakout-imminent

thanks and "spot on" the gold/silver ration flashes "buy".

Great call...the Markets really got hammered today.

thank you, appreciated.

As you said, my friend, as you said...

Coin Marketplace

STEEM 0.36
TRX 0.12
JST 0.040
BTC 70846.59
ETH 3567.69
USDT 1.00
SBD 4.79