We have not strolled down big picture lane for a while and some of what I see is pretty interesting. Some of it makes sense, some of it scares me. Oh and silver bugs and commodity bulls may want to avert their eyes. Yikes. Big pictures can be scary, and they can instigate greed as well. They need to be moderated by short-term views when … Continue reading Monthly Charts, Multi-Markets
It’s a tough racket, this gold stock racket. In January of 2016 everyone was convinced that HUI was going to the target implied by the lousy 2015 pattern. And no, I am not writing this as if I was the lone wiseguy who was bullish. As I recall we were very open to targets in the 60s or 70s. Huey then made a false breakdown, … Continue reading The Sordid Mess That is the HUI Gold Bugs Index
A little in-day management shows SPX fading to fill the opening gap up. I established my first short position (against Semis) on the opening market bounce but SPX is not cooked yet even as it drops to fill the gap. The reason it’s not cooked, in my mind at least, is this damn daily chart pattern that I want to go away. Either break it … Continue reading SPX Fills Opening Gap
I preface this post about bearish indicators with a note that I am currently long only, in the form of SPY and IWM (while looking for short opp’s in individual stocks) and what ‘little crapper’ precious metals stocks I decided to hang on to through tax selling season (dividend paying cash equiv. are by a country mile the largest positions). But in my opinion the … Continue reading A Progression to the 4 Horsemen of the Apocalypse
