Loading ...Another Sign of a Swing High in Metals
Mr Savage is uber long the metals here and is talking about silver breaking through major resistance. I think Savage and Gartman are neck and neck for the best contrary indicators. It was only a month ago that Savage was laughing at everyone who didn’t believe him that the next cycle low in metals was due by late June or early July. Isnt funny how he no longer even talks about prices having moved too far from the 200MA? But if prices ever do move back to the 200MA, he will be the first to remind everyone that he told you so….at some point….ummm, like back in March….or something. Yep, get rich quick…do the opposite of him.
He sure ridiculed my position to hold at that time now he is alongside my trade…. kind of makes me nervous. I know it is extended here, but I am still staying long the trade
I know….and I feel it is my role in cosmic karma to help reveal the hack behind the curtain.
If any of you pay attention to what socrates say, it is saying that silver trend change is in august (that means more upside) and gold trend change in july…FYI
what I like about savage is that he engages his subscribers on a daily basis and answers questions as people pop them. do his cycles work, I have no clue.
Krystar,
Last year, he admitted his cycle work has not been working because of “manipulation.” He said when he “guessed” when the manipulation would occur, he would trade better.
He also says that if a decline does not meet his target, it is because of the PPT.
This guy is VERY dangerous, and really does not understand markets. I learned at a young age that a limited amount of knowledge is a dangerous thing. Mr. Savage does not understand his limits to his analysis, which is quite great, and that makes him dangerous. It is supported by the fact that there is no “analyst” out there that has more posts about him blowing up a subscribers accounts.
Most of the time, he just says buy long and hold. Again, just dangerous. Moreover, one needs an analyst for this?
JMHO
BTW – this does not mean I disagree with the potential for silver to break out right now.
i got to say you have some guts to short this.
http://charts.dacharts.net/2016-06-30/d2268.png
this is long term gdxj channel the bottom line is exact and all lines are cloned off that line.. there is more than one way to interpret this chart. any thoughts?