I've been saying uptrend for weeks, based on my BB Method, it came down and turned right bang on the line aswell.
My grandfather told me something when I was about 10 years old and again at 17 years old. He statement ws very different then what my friends and community was saying at the time.It's also different then what a lot of my peers say today. "Son, you will never beat them, it's best you figure out what they doing and join them" That statement helped me a lot growing up. Thank you feds and Donald Trump and whoever else is making the market rise.
Now that the Fed has gone QE infinity, the market is entirely driven by the Fed/central banks - there is no relation to earnings, employment, GDP, etc. These distortions the banksters (Fed) has created will have a big consequence at some point. It starts with the BoJ (bank of Japan) in the extended session, next the BoE (U.K), than the NY Fed Reserve put the pedal to the metal painting the tape. This is corporate welfare & the transfer of wealth from tax payers & future generations so that the 1% have no down side risk.
I understand and agree with what you said. Since we cannot fight them, why don't we join them instead. So, no shorting the market for me.
I still like Gold miners because all the conspiracy theories on top of the stimulus probably drives Gold to a new ath this year.
Have you not considered Russia is selling off part of its gold horde accumulated in the last few years to meet oil revenue shortfalls? Gold has been underperforming paper and electronic money lately in spite of loosening Central Bank policy around the world. If oil does not recover, as in more than a double from current prices, my guess is Russian selling will continue. At least consider spreads of other precious metals versus gold. Think gold/silver ratio or that rarer platinum used to sell for a premium to gold. However, there is plenty of silver and platinum has industrial demand issues.