I like the push higher scenario to get Gold down under 1450 ...
after that a nice 4-7 percent correction is beyond called for but
right before Thanksgiving ? I'm not sure Trumps gonna support
that. Looks more like we just keeping going higher and higher
while all the technicals go out the window at least till
Thanksgiving. Gold is my guide - when it drops below
1450 I'll take notice, when it drops below 1440 I'll buy it and
keep buying it all the way to 1390. In order for that to
happen this bull charge just continues for 3 more months - That's a
LOT OF PAIN trade. I hope I'm wrong. The other
thing which is a done deal is Trump will win...we all know he has a
gazillion Trump cards up his sleeve to ensure the stock market
stays up through the election (happy to enumerate if you
don't know) and if the market stays up that basically guarantees
his win. So while the metals swing up for safety so will the
market and it won't matter which one we're in.
I am also of the same opinion that you are. Used today's high to
sell the GCZ19 on. Am loading up on MGCZ19 on a $5 moveall the way
down from $1450 to $1400.
We need to remain cautious ... the charts that Matt showed
earlier this year with Q1, Q2, Q3 gains then monster pain in Q4 I
remember ... I was looking for it in Q3...didn't happen ... for
example what if the following happens : 1) Trump tells China to
take a hike (I really think this is going to happen again - see
ssffer's pump n dump) 2) Impeachment (which has no meritt) gets
some legs and it looks like the end for Trump (nonsense) 3) FAA
tells Boeing to go fly a kite instead of a plane. Those 3
could seriously rock Q4 so while 1400 looks juicy on GLD stay ahead
of the game. The problem is that very little other than core
trend uptrend is following the script... it's so easy to see both
sides. Better to be on one side with a tight stop. Thanks for
sharing mundy and thanks to BPT for having the best trading
community.
The Trump and Kudlow show will end badly. The more they
pump and get mom and grandma to put all their savings into the
market because bonds and CD's pay zero. Reminds me of the
1999 euphoria were everyone became a stock picker and you couldn't
lose by going long.
At my age, I have experienced many booms and busts. I do
not think about the market anymore or care what people have to
say/comments. I am long when the trend is up and short/cash
when it is down. I have become a "bot".
I like the push higher
Posted by deep on 14th of Nov 2019 at 08:47 pm
I like the push higher scenario to get Gold down under 1450 ... after that a nice 4-7 percent correction is beyond called for but right before Thanksgiving ? I'm not sure Trumps gonna support that. Looks more like we just keeping going higher and higher while all the technicals go out the window at least till Thanksgiving. Gold is my guide - when it drops below 1450 I'll take notice, when it drops below 1440 I'll buy it and keep buying it all the way to 1390. In order for that to happen this bull charge just continues for 3 more months - That's a LOT OF PAIN trade. I hope I'm wrong. The other thing which is a done deal is Trump will win...we all know he has a gazillion Trump cards up his sleeve to ensure the stock market stays up through the election (happy to enumerate if you don't know) and if the market stays up that basically guarantees his win. So while the metals swing up for safety so will the market and it won't matter which one we're in.
Hi Deep, I am also of
Posted by mundy on 14th of Nov 2019 at 10:41 pm
Hi Deep,
I am also of the same opinion that you are. Used today's high to sell the GCZ19 on. Am loading up on MGCZ19 on a $5 moveall the way down from $1450 to $1400.
Assuming it plays out, I'd
Posted by deep on 15th of Nov 2019 at 12:54 am
Assuming it plays out, I'd be taking profits at 1440. JS it's the safe play.
We need to remain cautious
Posted by deep on 15th of Nov 2019 at 12:49 am
We need to remain cautious ... the charts that Matt showed earlier this year with Q1, Q2, Q3 gains then monster pain in Q4 I remember ... I was looking for it in Q3...didn't happen ... for example what if the following happens : 1) Trump tells China to take a hike (I really think this is going to happen again - see ssffer's pump n dump) 2) Impeachment (which has no meritt) gets some legs and it looks like the end for Trump (nonsense) 3) FAA tells Boeing to go fly a kite instead of a plane. Those 3 could seriously rock Q4 so while 1400 looks juicy on GLD stay ahead of the game. The problem is that very little other than core trend uptrend is following the script... it's so easy to see both sides. Better to be on one side with a tight stop. Thanks for sharing mundy and thanks to BPT for having the best trading community.
The Trump and Kudlow show
Posted by ssaffer on 15th of Nov 2019 at 10:40 am
The Trump and Kudlow show will end badly. The more they pump and get mom and grandma to put all their savings into the market because bonds and CD's pay zero. Reminds me of the 1999 euphoria were everyone became a stock picker and you couldn't lose by going long.
We are American's and we
Posted by clearstream on 15th of Nov 2019 at 11:17 am
We are American's and we demand a New bubble every 10 years damit!
we recently had the bitcoin
Posted by morton7 on 15th of Nov 2019 at 01:03 pm
we recently had the bitcoin bubble and the pot/mary jane bubble, did we not?
I think we will top
Posted by retirefire on 15th of Nov 2019 at 10:51 am
I think we will top when all that thinking gets crushed, then it drops
At my age, I have
Posted by ssaffer on 15th of Nov 2019 at 11:13 am
At my age, I have experienced many booms and busts. I do not think about the market anymore or care what people have to say/comments. I am long when the trend is up and short/cash when it is down. I have become a "bot".
agreed. Push until it pops.
Posted by ssaffer on 15th of Nov 2019 at 11:07 am
agreed. Push until it pops.