As we’d noted for months in NFTRH, I expected GE to drop to the low 24s, where a gap needed to be filled. Boink. I had a GTC buy order in for around 24.30 but canceled it pending the market view. Once I felt I wanted more market exposure during the Trump/N.K. hysterics, GE (among several other stocks, including the aforementioned GILD) was added at … Continue reading GE to Target, Gap Filled
Per a post only yesterday… The weekly chart seems to think that 84 is a reasonable target, assuming that the stock market stays stable through our projected late Aug./1st half of Sept. quiet period (as da boyz settles back in). Silly me, thinking it would take days or weeks to get to the sell target. The weekly chart in yesterday’s post projected an eventual rise … Continue reading 3rd Profit Booked in Gilead
Silver had quite a run into April of 2011. It was imminently “going to 100!” claimed the silver promoters and inflation was going to kill us all if we did not take action (this was also the time of the famous ill-fated Treasury bond short by the “Bond King” (ha ha ha), Bill Gross right at our long-term limiter, AKA the 100 month EMA on … Continue reading Bitcoin: Who Dared Short Silver in 2011?
I have been firming a bearish view for the market when looking out to 2nd half September into Q4. In the meantime, it is silly season AKA the end of the summer doldrums as da boyz comes backs froms da Hamptins (I know I can wear you out with the jokes, but you try writing millions of words over 13 years and see if you … Continue reading A Leader Breaks its Symmetrical Triangle… and Not in a Pleasurable Way for Bears
Unless you are a momo driven, hopped up speed freak so abundantly populating today’s markets, you might view the immediate – and appropriate – short-term reversal in the precious metals as a good thing. I know I do. Had HUI reached its (short-term) upside target in one big nuke-hyped swoosh I’d have been compelled to either a) take profits or b) hedge. Instead I’ve done … Continue reading Gold Stocks; Unless You’re a Day Trader…
A couple days ago we noted that MZOR was bullish despite a wobbly Medical Device sector, including especially, Medtronic (MDT), which led the sector to its recent weakened state. I did something uncharacteristic of me, which is to hold MZOR despite the big momentum on no news, in hopes that the big upside was just some crooks with inside info doing what they do. Well, … Continue reading And Then There is Mazor Robotics & Medtronic
As you surely know, they don’t all work this way. But trading GILD has been like clockwork for me since buying the lows in June. Buy the washout and positive divergence, sell the hysterical pop; buy the downside reaction, sell the pop; buy the next downside reaction… still holding as of this moment. The weekly chart seems to think that 84 is a reasonable target, … Continue reading Giliead Working on 3rd Profit
They’ve whacked Uncle Buck post-Jackson Hole and Trump/N.K., part 2. But not only did I hold my short Euro, long USD positions, I added more UUP on yesterday’s festivities. Here is the state of the index. It ticked a hair to a lower low from 2016’s low. Screw ’em I said, I’m not buyin’ it. However, if USD loses current long-term support it’s all but … Continue reading Still Nursing the USD View
Is it a prerequisite to being a mainstream writer… dumb it down or go start your own blog elsewhere? Apologies on the wise assery to any Bloomberg, MarketWatch or Street.com writers who may read this, but Mohamed El-Erian has always seemed like a textured, critical thinker. Now it appears he knows exactly how to write the perfect mainstream media article talking about gold… it doesn’t … Continue reading El-Erian Joins MSM, Loses Fastball?
I’d love to say ‘hey look at me, market hog caller extraordinaire!’, with the stock market going down and gold going up (per our plan for coming pivots in these markets). But the fact is that the precious metals appear to be going up anti-USD, which was not part of the plan and the stock market appears to be weakening with the bearish USD, which … Continue reading NFTRH; Gold, Stock Market & US Dollar
I am short IHI, the Medical Device iShares that I was bullish on well before the momo crowd got a hold of it. Despite this, as noted in recent NFTRH reports I’ve held onto medical robotics maker Mazor Robotics (a lesser component of IHI) as its chart remained constructive and its story intact.* While the precious metals were the big driver for me today good … Continue reading MZOR Did not Get the Bearish Medical Device Memo
We’ve been noting the bullish daily pattern in silver/SLV that completed during August. It is the shaded thing on the chart. We also noted in NFTRH 462 that silver has been dwelling at the SMA 200 “in a way that I don’t find unappealing”. Well today the booster rocket went off. If you want a pattern measurement, how about 17.50 for SLV? Dat’s da measurement. … Continue reading The Return of the Silver Bullet
So gold is looking ship shape, the miners are affirming the resistance break and woo hoo, I’m lookin’ good baby! Except that this is the site that wants you to see its warts along with the positive stuff. Enter poor old Uncle Buck, taking a continued beating. The prospect that gold bugs are celebrating Unc’s demise is not a good thing for said gold bugs, … Continue reading DX… Why??
Here’s today pop in gold… Okay, so what does this mean? Here are some words and charts from NFTRH 462… Gold’s daily chart continues to hold firm at 1300 resistance; this despite a week when the most powerful macro market conspirators were clustering in one place and exercising their jawbones in the form of expectations management. 1300 was the original ‘bounce’ projection and so technically … Continue reading Gold @ 1306, but Check the Big Picture