Good morning my friends. well, the Dow - Jones (see the chart) went almost exactly as we thought and wrote of two days back, the 26,200 level. If you bought the 24,500 level (or lower) in October and used tight STOPS, congrats!. Especially if you sold out 100 percent in September (or early October).
Sentiment was super bullish at the recent bottom and my friends it STILL is decent. The "manipulators" can push this game to or near the old highs before "game over".
To most this sounds quite "silly". You are hearing of great economic news. We are at the end of a major cycle. There is tremendous forces in place to push rates higher. Debt literally can no longer be serviced and it is WORLD WIDE. We are at the doorsteps of financial crisis. Always sell the news and buy when blood is running in the streets. Remember everyone loves gold at 1900 and won't touch it at 1200. Oil at 100 is a "hot"...and 40.00 nah....human psychology and the psychology of the small and usually wrong small speculator.
So, if you are still in this equity market, have tight stops.
Gold and silver are having some problems (again) of late. Congrats to all who are very patient. I refer to Ron Rosen who has been nothing less than remarkable for about 50 years in his market timing. I have recently questioned him. See www.321gold Oct 3. He still calls for 1128 and very end of November to hit it! We are at 1210. He calls for 1600.00 one year out and by EARLY 2020 (February) close to 2000 gold. Silver will be the better performer (again) dropping to 40:1 gold :silver..50.00 silver in early 2020. Amazing! Let's hope he is correct. The metals will not be suppressed much longer. The big forces are loading up at these prices, then they will "let it fly". I have written on the host of reason why the metals must go much higher, the dollar much lower. No bigger reason than China and trade and currency war.
See BTC (above) with the chart of Wednesday. Isn't it amazing that we said it may attempt to get to 6600-6700 but most doubtful!! See the upper Bollinger band coupled with poor sentiment....too many bulls! It can't get anything going, and why should it we ask! We all want to see 20,000 BTC and STEEM at much higher levels. I am asking you for your take. I can't give an answer really. Maybe the forces that will propel the metals higher will help BTC......it is a possibility. We are at 6350 having backed off precisely fro the Bollinger band. With these sentiment readings it could go lower but hasn't...(positive).
Have a great weekend one and all...and remember the opinions above are mine. You should do your own 'due diligence'.
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