Folks, the market is over loved, unhealthy and… still bullish. As long as that is the case we must accept it. When the technicals turn, so will we. In that regard, here is an updated view on one of the earliest + highlights, Intel, from June. The big picture target from that update (when INTC resided at 27.63) was 40. Well today in breaking above … Continue reading NFTRH+; INTC (Time Frame Confluence)
In other news, gold stock bulls to bears… ‘how you like me now sukkah?’ Of course, the bounce was highly readable in something approximating real time. Anyone who did not take JDST profits has now imploded. These 3X joyrides go both ways. Separately, we are managing the bounce quite nicely. I sold GDXJ a little while ago because my target was 30 (per NFTRH update … Continue reading JDST Tankage
Just a quick visual to update the 60 min. ‘bounce’ charts of GDX and GDXJ from last week.
Below is not a comment on whether or not the sector has bottomed (I suspect that even if a bottom is in the lows will at least be tested in the coming weeks) but just a snapshot update per the original ‘bounce’ premise of these 60 minute charts.
“History shows again and again how nature points out the folly of man” –Blue Oyster Cult, Godzilla I would have written off the gold sector long ago in its ongoing bear market had I thought for one moment that gold’s utility as insurance against the acts of monetary madmen/women in high places had been compromised in any way. On the contrary, the monetary metal is … Continue reading Goldzilla
