Hello fellow Steemians. If you've read my market reports since January, you may agree we've been on the right side of the markets mentioned. In forty years of following "what moves markets" I've learned who to trust besides myself.
Silver (see the chart) thanks to KWN.com and the great Jason Goepfert has shown The commercials have been (COT REPORTS) closing shorts in huge numbers recently while the large SPECS (speculators) shorting in numbers not seen in twenty years. The SPECS are nearly always wrong!! Statman monitors market SENTIMENT. NOTHING is more critical. We monitor seasonal trends as well as economic factors. You can not rely in the long run so heavily on charts, (although there is a place for them).
With a dollar that is doomed, interest rates that must rise, trade wars that will not end to our advantage I'm afraid, the Chinese downgrading our treasuries and mideast tensions we see a perfect storm for the gold/silver market, (as well as oil).
The Dow Jones? Sell on strenght. The odds are better than 50-50 we have seen a high for a long, long while. Any move to challenge the old highs (and it can happen) will be a "trap".
Bitcoin? I like the action big time. I beckon anyone to read my previous posts. the action is precisely as called (for now).
There are a number of folks that will entertain you with the latest 100 point move in the cryto. Go ahead, spend your time there. You won't find it here. Bitcoin goes ultimatey a lot higher. The sentiment has got to improve first. It can be done with sideways action which we are seeing. If you set your sights long term load up on silver here. Bitcoin can be bought.
Thanks for your visit. An UPVOTE is always appreciated. FOLLOW Yankee-Statman.