Given the current world/market environment, would you say it's more prudent to wait for a break above the pattern (giving up 4% or so), or better to take trade here with a stop just below Friday's low?

Important reminder.  Thank you.

Question is: Who do they sell it to when they eventually own all of it?  

Appreciate you explaining that distinction.

Anecdotally, it seems to me that every time there’s a one or two day pullback in the market of any significance, one of the SPY subsystems immediately takes an entry.  Is this the nature of the beast in uptrends, or is it something else?  Whatever happened to multi-day corrections?  Perhaps you could touch upon that when you next record a video that touches upon these systems.  Thanks.

Guess we'll know the answer next week.   

Matt, Appreciate the effort you and Steve put forth day in/day out, always start my day with the newsletter.  

Question: How can sentiment be described right now as "too bearish"?  Honestly.  Majority of traders and investors have a quiet smirk on their face and are counting their profits, the market continues to move higher nearly every day, I can't find anyone who is selling...and then comments like this start appearing: "maybe the market will never go down".   If anything, sentiment seems euphoric to me.  Could you please explain what I'm missing?

Can someone explain to me why the "Commercials" are always viewed by the market as being correct, and the "Speculators" not?  Should this really be the holy grail 100% of the time?  Honest question to better understand this report.  Looking for something deeper than that's how the "market" perceives it.

Hope you caught it.  Difficult to take now on a break after yesterday's monster move, and hard to see how you took it yesterday off the daily chart.  Was there a signal on the intraday?? 

Mixed signals?  Interesting that one of Matt's SPY systems (QE BTS Long) took a first position at yesterday's close, but the majority of Steve's trade ideas in last night's newsletter were on the short side.  Unless one day trades (I generally don't), it's tough going right now for investors.   The "trading winds" are constantly shifting direction.  

One would have to have a really cynical view of the world........   

Apparently, snake oil still sells.  How many times does this cycle of insanity have to repeat before traders and investors realize the emperor has no clothes?

Appreciate you taking time to record tonight's newsletter amidst all the chaos at home.  All the best getting your house back in order.

If by chance the solution includes digging a trench and re-directing drainage on the outside of the foundation wall, consider applying a bituthene barrier to the exterior of the foundation wall.  We did this at my office - basement file room went from constant water penetrating the foundation wall to bone dry.   Obviously the ultimate solution is to figure a way to redirect/drain the water.  Good luck. 

Tough situation.  Good luck with the restoration, Matt.

Respectfully disagree.  I find coverage of the individual gold and silver mining charts helpful.  GDX, GLD, and SLV provide the big picture view (much like the major indices do for the general market), but I trade miners (not ETF's) and appreciate Matt/Steve's individual chart analysis.

Matt: How would you play a re-entry off the 60 minute chart?  Above the high of the last tick?

Never quite know whether to take these trades inside the pattern or wait for the breakout.  Perhaps you or Matt can cover the pros and cons of each in an upcoming video.  By the way, about 6-8 months ago and for a period of time, Matt would mention buy points (other than breakpoints) and suggested stops.  That seems to have gone by the wayside.  

Understand that the daily newsletters (videos) have also expanded since then (more charts).  Have you dropped that granular detail due to time constraints?  I for one found them extremely helpful, especially as it frames an answer to my initial question (buy inside the pattern or wait for the breakout).  Thanks.

FPAY question:  I noticed there are 13 upward spikes within the basing pattern.  Each and every time the stock spiked it sold off immediately (same day or next day).  No follow through whatsoever.  Anything to that?  What's the best strategy for trading this?  How can one trade with confidence, especially if not day trading?  Even yesterday's breakout gave it all back before the close.

Are you taking the trade at $10.35 (one cent about yesterday's highs) or when candle breaks out of the wedge??