The excerpts below are and example of what we offer to our paid subscribers every weekday. We release one from the previous Monday to share with the general public minus some critical information.
9:00 AM – This last week of March is an important period, especially for the miners first, and then the metals. A blast off by GDX thru resistance and into [for subscribers only] would prompt me to do some selling of positions. I do not want to see an emotional blast, as we still have the….as the likely low then for the rest of the year. As for gold, staying below….for now is a positive. There have been, and continue to be a lot of doubters on gold – that’s a big positive. My consistent belief since the December 9, 2015 post about gold’s new secular bull market remains intact. It’s just a concerning time period right now.
The close in the Euro on Friday “reinforced” my belief that this week would see a high in the Euro, with a possible spike thru resistance at around [for subscribers only]. That is concerning now also. So this week, I’m looking to buy $s again.
The stock market has quite a few bears right now, justified in some ways. The bigger picture view is in the video just released. The first part was about ags, and commodities. I’ll redo that one. If you reread the newsletter from last weekend, those big stock market themes are what is going forward. This is the most bearish time period from….since December 2015. The stock market is still in a major bull market, I do not agree with the permabears whatsoever.
9:45 AM: There are a lot of stock market bears right now. Even some bulls are now bears.
10:50 AM: So just be aware that there could be some bigger opportunities this week, as this will be a volatile week. Ending action below support areas could set up opportunities. So being aware of the support areas is important. This is a bigger top in the stock market, but there are always opportunities to do very quick daytrades with a lot of leverage. For instance TNA has plenty of leverage. So you buy near support, it rallies, and you let it go, at least one-half of it. And the IWM chart, from the 9:45 update, is what I use to actually enter TNA trades – here is the updated chart.
11:45 AM I’m selling TNA, and not trying to guess. It’s been a good trade, and now just move on – trade entry, is followed by trade management. I don’t know which one is tougher, it’s all difficult.
10:30 PM: Going against consensus on any time frame is usually an excellent opportunity. The stock market was “plunging” 1% and people were going nuts. The bears were out in full force extrapolating how far the market would fall. And the “broken support” crowd was very confident. Sentiment, psychology, and charts are a powerful combination. That’s why I did that update this morning about all of the bears, and yet we were right into a high probability buy zone (sentiment plus technical setup). It was pretty shocking to see even trusty old bulls were now bearish. People were freaked out this morning on the stupid financial media, plus we were “below support”. That’s at least worth a trading opportunity. Please keep this stuff in mind, no matter what your time frame is. When people are freaking, it is at least worth a consideration to go the other way, if we also have a decent setup. This was a classic bear trap trade, if only for a daytrade. So now people will probably claim it’s the PPT (Plunge Protection Team) saving the market. Whatever the excuse, the trade was there. And now it’s just about waiting for the next trade setup. But bigger picture, we still have this current time frame to deal with thru….
The Euro had its spike, and more re-testing….The gold miners are still lagging gold at this point. Neither one of them got too emotional – that is unusual, but a plus.
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