There was another spring setup yesterday, I’m out of it, but we discussed the potential for this in premarket comments yesterday.
Unlike the super popular websites, we never try to pump up the hits here with marketing, scamming, and fear, We provide info to be able to take advantage of all of the amazing opportunities in markets. And we certainly don’t sit around theorizing and pontificating. As we keep talking about, these current times are extremely reminiscent to me of the 1995-March 10, 2000+ time period. For years, the hot-air “balloons” (useless talking heads) were calling for the internet-related stocks to crash. Eventually they did – eventually.
The main focus for most people looking back to then is the crash. But what about the years leading up to it, and all of the opportunities. I always, always ignore the hot-air balloons (useless talking heads), except for sentiment. Why anybody listens to and idolizes them is truly baffling. We’ve seen the ridiculous comments about BTC going to zero, yet these people are still as popular as ever. Amazing.
With AMZN, BABA, the stock market (gold down the road), for years the pontificators have been spectacularly wrong. The whole time I’ve been long OSTK, I’ve read numerous stories about how the stock (and BTC) are worthless, like this trash. Twice, I’ve already pulled some profits out of OSTK, and bought back into reactions. So while the genius who wrote the article is sitting on his rear and pontificating, I’ve been trading it, profiting, and think it has a good future. We’ll see. In other words, I’m trading (opportunity) – and giving strong uptrends “plenty of room“, there will be a post about that soon.
That time 20 years ago is when I began learning to try to stay away from hyperbole, and just stick to tools – and trade. For people who constantly worry about crashes, do they understand about using some kind of exit strategy – and stay optimistic. Risk control. There will be big, very big, huge selloffs. BTC itself going to zero? It is not remotely my view. Other individual cryptos, absolutely, same as the 1990s.
And like then, when companies (even legitimate ones) knew how to pump up their stock with .com or “net” stuff. Now it’s blockchain, crypto stuff. SIEB is the latest one.
Gold is back into resistance, but the break below 1260 has lengthened (and strengthened) the potential with the next rally. Discussed in the December 2015 post about PMs, my belief then (and still) that was the secular bottom (investing), and I have my long-term positions in miners, and as discussed recently, now is more about position trading opportunities. And discussed in the comments section a few weeks ago, I’m still sticking with, holding (and trading) Novo, and is my main focus. There have been discussions about inventory, and viewing things that way may be helpful. From yesterday about miners going forward – “Short answer, yes, buying into reactions. And either holding, or buying some and sell into rallies, but hold some in inventory. That is what I’m doing with Novo. Going below 1260 gold sets up (allows) a bigger time-frame situation, than just pure trading position, which is how I had been treating gold for a while.”
But again with gold, I first talked about this last year, all of us long gold, this what we are dealing with is what a market does in accumulation. Please understand that. And realize what that means for down the road.
Today watching, not as much, but – EKSO, that same group of crypto stocks and pot stocks, MITL, ATOS, PYDS.
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