âCOPPER has ignored the recent equity bounce. Daily and weekly are not bullishâ ~ March 31, 2011 http://stockmarket618.wordpress.com
SHORT continues .... some updates .... Qs 15-min. STOP technique now puts us on market money = green The 15-min. STOP is right over the recent hump which ended at the 200 m.a. (15-min. chart) Note also that the 50 m.a. has crossed below the 200. Good for us. Stay Short. IMPORTANT: If you are at the computer do NOT place a STOP, keep it manual and if the hump is taken out, use judgement re: momentum to see if there is power because oftentimes the move will go just a teeny bit past and then continue your way south.
For the reason mentioned in "IMPORTANT" in the previous post .... I got stopped out on my Euro trade = loss See chart for what I've done to set up for the next Short entry. If it fires, STOP will go over the marginal new top. Uploaded with ImageShack.us
even if we dont see 'real gains' our 300b a month in new bills will US denominated equities trade up, since the dollars weakens against it, not dramatically but enough to keep 6-10% paper growth.
and before you attack I was refering to equities on a whole rather than precious metals. I think we've had a small taste of how metals can go wildly parapolic and still have 'long' support. Kind of silly, since there is nothing to define a precious metals value other than the perception of said value, how could it not be volitile.
Regular readers at http://stockmarket618.wordpress.com will be familiar with this summary. When DOW/S&P500 correction gathers momentum, I expect: UP ~ USD, various USDXXX currencies, VIX Index DOWN ~ EURUSD, AUDUSD, NZDUSD, GOLD/SILVER, Base metals like COPPER etc, CRUDE OIL.
Finally this thread woke up a bit with the Treehugger guy-- nobody can predict the market! What TomFoolery!!!! Today is the seminal day folks- What we have had so far has been a mere rotation out of risk stocks. Stocks that I missed and watched with amazement as they climbed to disgusting highs, the OPEN and the TZOO's (just missed that one by a whisker still hate myself) Anyway they crash back down momentum is getting spanked and folks on margin are being washed out... of course absolutely none of that entails an actual correction. For a correction we have to make a bigger case-- one that the economy is slowing and that the debt is soaring and that well... it's not an easy case in the face of certain realities. This late Easter this year screwed everything up from retail sales to air miles flown to shipping in and out of the USA to job activity. The recent weak ISM number can be taken with a grain of salt. Equally this bad job feeling that has suddenly hit us-- one of a bad pre ADM number yesterday and a bad claim number today contains lots of reasons for the outside looking number to be taken with a large grain of salt... All of this sets us up for a REVERSAL DAY today Thursday and a big rally tomorrow should the actual job number be fairly normal! THIS IS HOW THE MARKET WORKS it builds up an expectation and then goes the other way. Right now on TV they are breathless... the DOW has weep weep been down two out of three days and the Nazdog has lost 1.5% ALREADY this week! After Friday that will look more like .5% and these drama dogs will go their merry way having not entertained us one bit. DB YOU NEVER LEARN! God I hoped when I read these pages that you wouldn't jump on the first down move like a fool... I told you FIRST THE ROTATION... THEN THE (I FORGET WHAT I SAID)....THEN THE EXALTATION- Strong finish to May. THEN A BIG SUMMER DUMP...~ stoney Thread closed at the request of Original Poster. -Joe