4/10/17 Premarket: My goal in markets and here with all of us is to attempt to generally stay on the right side of markets. Of course we have the day-to-day weirdness in markets which can throw us off our path and plans. One reason so many people don’t do well is they don’t have a plan, or if they do, they allow the emotion of markets to suck them in at the worst times (turning points). And just since launching this website, there have been several instances of these which I’ve talked about – in advance. Like not getting sucked into the Euro or the $ turning points on March 27th or for Friday (April 7th) it was PMs. There were (emotional) calls for breakouts in PMs. For weeks, I kept repeating that a blast thru 24 resistance in GDX would prompt me to sell, and I said it again Friday at 9AM. So you see what happened as GDX went to 24.02. And GDXJ was not at all in the same situation. And gold was also supposedly breaking out. As silver was “hanging in there” – once again, not bullish to me, just emotion. The PMs are still in a bull market, but it’s just about the timing of where to enter, and maybe take some profits at times – “generally staying on the right side of markets”. The trend is up, but it’s just patience to wait for the really good opportunities.
As far as currencies, the wrong way crowd who were buying the Euro right at the upthrust highs, now they’re probably looking to buy the $, because it’s now bullish all of a sudden. The $ is slowly moving into an area where it could run into some trouble (arrow). And visa versa for the Euro and the Yen.
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