Weekly Poll: Pullback This Week? PART 4
- Thread starter shortie
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I deliberately didn't log in all day long, so I could enjoy myself just reading up on all the reasons why the markets have to go down and it's the end of The Republic as We Know It, or even The World As We Know It.
As usual, this place never fails to disappoint.
Out in the real world, companies are making money and doing deals, the guys who actually have real responsibility for the economy are stepping up and dealing with the actual real world situations that present themselves, despite the carping comments of the perpetual losers, and the trend continues to be up, despite whatever brand new resistance point or wacko technical indicator some brand new alias for some real old fool can come up with.
I was told today that the end of the world would come October 22. The guy who told me this was cagey about which year though. He's probably got a handle on this board.
As usual, this place never fails to disappoint.
Out in the real world, companies are making money and doing deals, the guys who actually have real responsibility for the economy are stepping up and dealing with the actual real world situations that present themselves, despite the carping comments of the perpetual losers, and the trend continues to be up, despite whatever brand new resistance point or wacko technical indicator some brand new alias for some real old fool can come up with.
I was told today that the end of the world would come October 22. The guy who told me this was cagey about which year though. He's probably got a handle on this board.
trefoil, you have been right more times about this market than I have been wrong. and I have been wrong a lot!
maybe you will be right this time as well.
i do see bullish polls popping up here and there. there are many bulls around. they don't seem to care that the fake rally that is based on the weak dollar.
Thanks!
The dollar is a situation that can't go on forever. That'll probably be what puts an end to this thing.
Watch gold. That'll dive first. The usual sequence is gold stocks, then gold, then the dollar, but gold stocks haven't been leading in their usual manner (chart here; notice gold stocks started falling first in '08, but then didn't recover fully afterwards), which in itself isn't a good sign for gold.
So, watch gold. When it goes, take cover.
The dollar is a situation that can't go on forever. That'll probably be what puts an end to this thing.
Watch gold. That'll dive first. The usual sequence is gold stocks, then gold, then the dollar, but gold stocks haven't been leading in their usual manner (chart here; notice gold stocks started falling first in '08, but then didn't recover fully afterwards), which in itself isn't a good sign for gold.
So, watch gold. When it goes, take cover.
GLD bottomed on July 27, beginning a very nice smooth ascent about a month before stocks bottomed and began doing the same thing. Since stocks have been going opposite the dollar for a long while, and since gold usually turns before the dollar does, it makes sense that gold's turn came before stocks began going up.
Anyway, all good things must come to an end, but I don't see one in sight here.
Anyway, all good things must come to an end, but I don't see one in sight here.