Loading ...I still feel the same, this is a very bearish bull market
Like I commented yesterday, the sentiment of the bulls (including me) is so bearish for such a small drop that it feels like gold and gold stocks must have crashed big time but if you look at where prices are, they are very close to the highs – depending on your time-frame. I kept feeling this yesterday and I feel the same today – this is one of the most bearish bull markets.
Maybe we’re not in a bull market…Martin Armstrong’s computer, Socrates, doesn’t think we are and Parabolic Chuck definitely doesn’t think so and since so many of the big name investors are announcing they are investing in PM /saying bullish things that may be a clue that we are not in a bull market–a contrary indicator…seems too sluggish to be a bull market and gold’s inability to get and stay above $1,300 just feels like there is not enough oomph
FWIW, I’m within a few weeks of a LT buy signal for DUST.
I got them for the inverse metals funds as well, but they look a tad early (and could melt off before returning) and they are lacking ideal confirmations.
Obviously, conditions are ripe for turbulence and conviction will be in short supply. Aside from Spock, that is.
This is exactly what I’m talking about, the lack of conviction from the bulls. Aside from Spoke and me. 🙂
well normally one would take that bearish view as a contrary indicator and view it as bullish…I think we’ll know pretty soon
Yes, have felt this all the way up. Gold’s action yesterday was very bullish, despite the reversal. The bull will frustrate and confound; it’s what bulls do. Gold is gonna do what its gonna do, despite the best efforts to predict.
I still carry the “deer in the headlights” psychological damage from being wiped out by the bear. So any hesitation or correction or consolidation is frightening. Which suggests to me – we are in a bull market, and there is still plenty of fear out there which means the bull will keep going UP. Not the way or when we would like or hope and chart. But UP it goes…..
My pf is up 80% since February, and has only backed off 2 %, which tells me we are in a very strong bull market. Nothing bearish about it.
We are in a typical bull market correction, which I experienced many times in the first decade of the 2000s. We will emerge from this pullback as strong as before with action that will propel pfs up another 80% or higher. Socrates has been wrong from the beginning and continues to be on the wrong side of the trade imho.