Market direction

My Spot Gold short:

catastrophic short stop = 1884 (which would still give me a nice profit but it would depress me)

Take short profit at 1672 to 1650. Why? Because the first tsunami wave down will likely complete in this zone after which a rally will occur to the region 1883 - 1900. If such happens be prepared for the billions of dying gold bulls calling for Gold 5k to come out singing again. But don't get caught up in it because the next leg down will take Gold to $1383, where you will take short profits again.

Good luck, mint, mint, mint the golden opportunity of once in biblical times.
 
SunTrader said:
"The market is better at predicting the news than the news is at predicting the market."

- Gerald M. Loeb
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You've just stated very precisely the first Law of TA 101. Good stuff.

And if one digs deeper one could see that its not likely for teleprompter readers (CNBC et al) to match the sophistication of the Markets which thrive on Contrarian Culture, something that humans cannot easily do and therefore die in vast numbers at major market tops.
 
margin_gamble said:
You've just stated very precisely the first Law of TA 101. Good stuff.

And if one digs deeper one could see that its not likely for teleprompter readers (CNBC et al) to match the sophistication of the Markets which thrive on Contrarian Culture, something that humans cannot easily do and therefore die in vast numbers at major market tops.
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Wouldn't know, nor do I care to know, what CNBC or FauxBusinessNews sez.
 
margin_gamble said:
Smally, this is normal behavior for CNBC hacks to keep calling a bottom, so entrenched they are in the previous whopper of an uptrend that spanned 13 years, during which time their beliefs got baked into the concept of "forever" = the bull will never die.

When oh when will these hacks wake up and realize there is something deadly wrong with their way of thinking? From the looks of things it will be exactly like what happened in May 2008 and May 1930. Market was dancing in a trance and then all of a sudden the "relentlessness lever got pulled" ................. the slaughter went parabolic as Banks/governments were then brought to their knees.

YOU do not want to miss this shorting opportunity. It will be the equivalent of massive returns in dollars per minute.

Short stance continues .............. regardless ALL gurus
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Got my short positions and have no intention of exiting them. I think there is a lot more downside coming looking at the stockcharts. Patience is rewarded in the end.
 
CPI came in at 9.1%. Now, everyone knows this is bogus and inflation raging higher than that. I do not buy that China has stopped buying oil or reduced its appetite for oil. It has large storage tanks even larger than the US and they have so much surplus in dollars which is going down in value. Would be smarter to keep buying oil and storing it in the strategic oil reserves while, the oil prices are down. What about India? India is buying more oil now then ever. Selling some of the cheap Russian oil to Europe at full market price. US doing the opposite. Bleeding the US strategic oil reserves and selling that cheap oil in the market. Probably, to keep oil prices from climbing in the short term. Oil is highly, inflationary. People are still going to drive, travel, haul goods from one location to another. Higher prices will be passed on to consumers.
 
smallfil said:
CPI came in at 9.1%. Now, everyone knows this is bogus and inflation raging higher than that.
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CPI is at 13.5 (1990 based measurement technique) or 17.0 (1980 based). Shadowstats.com is the go-to place for this type of unfudged stuff.

alt-cpi-home2.gif





sgs-cpi.gif




If you're not having enough fun yet then here's Unemployment Rate, the real true rate unlike the bogus govt. numbers ......................


sgs-emp.gif
 
margin_gamble said:
I'm Short QQQ from 386.34. Will not take profit until $172. Only a catastrophic Stop at $409 is in place.

Minting Short is the name of the game in the best Shorting opportunity since Biblical Times.
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QQQ continuation short opportunity outlined here. For the benefit of those guerilla fighters who perform pivot well off the back of a horse on especially rough, treacherous terrain. I will be adding 400k to the continued short when/if a rally occurs by catching the rally top ............. OR when/if current low 269.28 is taken out to the downside. I will however keep an eye on a monster support level that QQQ will hit at 262. If this support shelf fails then the next station is a whopping short gain at $217



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