Armstrong – 27 Aug 14
US equities are clearly in a momentum trade, its the pm’s sector that isn’t as its clearly in a Bear market, yes Gold has put in higher lows BUT its not put in higher high closes, especially on the Weekly chart.
Those that have bought the US equity market dips off Golds high have been riding the % gain Bull
You’d short this…??..Jack be nimble, Jack be quick!…Jack burned his shorts on the candlestick!
I start to twitch when I think of the World turning its focus on the US financial system once Europes debt issues implode and Japan’s experiment with Abenomics implodes. L@@King to short the snot out of US equity tops the Sheeple will create….my nightmare is the SEC banning all shorts positions…not like then haven’t before….
after making nice gains on a trade, I look at this chart, keeps my ego in check!
Imagine unloading all your gains from the pm’s sector Sept 2011 and buying 1 stock…S&W….SWHC….580% gains since Gold topped out…who made that call???
FGC you’d have lots of silver bullets for ammo
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Great stuff as Sept looks to be a turning point….time will tell
Sheeple, the average Joe investor, they create every top from the Dotcom days to the real estate markets everywhere to those who lined up on Yonge St Toronto to buy Gold in 1980.
I’m not a Gold Bug or Bear I just trade the momentum swings, when Gold was tagging $1900 Sept 2011 was the Sheeple involved, did your neighbour make a point of telling you how much money he was making in the gold market, no way!
I couldn’t get in a cab or go for a leak in a bar without a complete stranger telling me how much money they were making with tech stocks, gold in 2011 didn’t even come close, oh sure the frenzy was within the goldbuggers web-sites but not on Sheeple street.
It was the most under participated bull run in history and the most hated, most mis-understood as it was a pure currency trade Gold vs US$
So with all that said will $1923 be the high Gold will ever see…NO WAY…and as Marty points out the Sheeple have not been in the US equities market off the S&P 666 lows….but they will, at much higher levels.
So Burger King buys Tim Horton’s
and the Loonie goes up 1 cent vs the Dollar
All because of Donuts ?
Dollars to Donuts ?
Bob went out on the ledge 4 days ago
Mr Yen 3 days now…..jump!…jump!….jump!!!
I see Goldman Sacs has a YE target of 106/94.33 $YEN…= re-tag $1180 Gold zone…??
BOCanada is Sept 3rd…nobody cares!
4-Sep JPY Japan Bank of Japan
4-Sep EUR Euro area European Central Bank
4-Sep GBP United Kingdom Bank of England
So JPY and EUR are looking to devalue their currency….will it be more verbal handjobs or real action?
GBP is in position to raise rates or will Clowney continue his verbal BS as he did while in Canada, I lost track how many times he was suggesting higher rates.
In one press conference when he suggested than Canada’s GDP growth was to be waaay above the street economists he was asked how did you come up with this target?…we have 20 very highly skilled economists working for the BOC taking in very complex data
The GDP came in below the street for 2012….next question should be I hope for Canada’s sake there is 20 BOC economists L@@King for work!
WANKERS!!!!!!!!!!……..send in the Clowns
Marty: “lightening never strikes in the same place in the same way”. But the lightening is coming. We know that.
What I have Learnt: the last 2000 years of human history reads like a Greek tragedy, the same mistakes over and over. Empires rising and then collapsing from the periphery, today that being Europe, leaving the core until last (USA). Only after it has crashed and burned can we move on to the next phase of human evolution, as all governments are unable to see or deal with whats coming.
History: The Ottoman empire existed for 600 years, 22 generations of one family monarchy, one million square miles in size, a Superpower, Christians and Muslims living together and doing commerce and business at peace, and the empire only collapsed 100 years ago, commencing 1914. The collapse started in the outlying parts of the empire, in Egypt and elsewhere, then it quickly imploded over a period of less than one generation. Once these things start nobody can stop it. History is the evidence. Roman empire, Byzantium empire, British empire…all the same…collapse from the periphery then rather rapid implosion to the core. Rome collapsed from the inability to pay the pensions of its military. See the similarities with today. Culprits: Governments. We have not changed that much in the last 2000 years in the way we think and behave, in particular, governments whether socialist or capitalists.
So those who can see it coming, we sit back and watch the next act of this Greek tragedy be played out, with the periphery now collapsing before our eyes in Europe. Then Japan, and other countries in the periphery, then USA finally. USD last man standing, before its collapse as a global trading currency. Like the transfer of financial power from Rome to Constantinople as per the history books, now financial Center moves from West (London, New York) to East (Shanghai, Hong Kong, Singapore, Mumbai). New global trading currency (not USD) agreed and implemented. Meanwhile we trade the markets appropriately to protect what wealth we have left. Those who cannot see it coming are the collateral damage, the great unwashed as governments really think of their peoples.
I just read Marty’s post today….this guy has sat down with the Central Bank of China which is the only central bank on the planet that all its members are ex-successful Traders! ….not Fning lawyers or professional politicians!
Marty has been called during ever major crisis, is there anyone on the web with those credentials?…they sure as hell didn’t call me….
Marty toady: This is what I mean that the model is the model and opinions just do not cut it. We have to trade by the numbers – not by what we would think or like to see.
FIRST WEEK OF SEPT A KEY TIMEFRAME
This Nasdaq 100 Index holds no banks, no financial institutions…works for me!
Watching the index with the indicator helps guide the ETF your using to invest off the index.
Armstrong suggested a July high would set up an Aug or Sept or worst case Dec low before heading much, much higher….time will tell which month is the low…. the indicator will help keep the Bears away……..
We all have different backgrounds/professions but we come together as investors hoping to make % gains on the net $’s we save. Pilots have instruments to guide them, dentists have tools to torture us.
Sitting on a trading desk DATA is the guide and instant news feeds from reuters that’s the main tools for trading, obviously if one can’t apply the data to a chart or their positions correctly and understand the markets reaction to a key news release well your not going to succeed.
NO WEB OPINIONS are used from a trading position, I can recall on 1 hand the amount of times an opinion towards the CDN$ was discussed in meetings or in the bars it was all about trends and data or the news driving the action.
The joke in my house was watching the eve news and hearing the CDN$ did this today based on this…90% of the time they were completely wrong!
I know I’m going to come across like I’m making trading simple, its not or we’d all be at the beach. What I hope to do before I leave for the beach in Greece, lol….is remove all the clutter, opinions, useless tools the average investors clings to for direction.
I sent a Gold chart to FGC late last night (the guy never sleeps) which is below along with Silver, HUI and the Nasdaq all at their peaks.
Again like every investment having a trend in place with decent momentum is a chart readers dream. I had never held a short position with my personal investments until Golds bull run ended so that’s why I followed Rambus to confirm what I thought I saw on my charts while holding a short position, he was the only guy on the web who publicly highlighted short positions using chart data, not opinion.
These charts highlight using 1 indicator how any investor can stay on the correct side of the trend in play. FGC reply was the reason for this long wined post (sorry)
***I don’t think I can be disciplined enough to stay out that long though***
Remove OPINION from you charts! When the Naz was 5000+ opinions were to da moon…when Gold was $1900 it was to da moon!…Silver not to da moon but to Mars! Ask yourself did the dotcom web-sites keep you long, did all the goldnsilver sites keep you long….following the chart only would have had you protected.
You’ll never brag to your buddies that you sold gold at $1920 or silver $49 but you’ll look a lot younger than them as the buy/sell buy/sell the opinions is very stressful
Its the Chop, Pop, Flop…Whip trend that kills…big momentum was in play during all these timeframes below….that is a must!