Loading ...Incredible
1 Month ago most markets looked to be in Crash Mode.
It felt like the end of the Greatest and Most Hated Bull Market in History
Shorts were emboldened and licking their Chops.
But a funny thing happened on the way to hell .
Today QQQ The leader..( Large Cap Tech) has broken out yet again and looks like its just getting started
I wonder if the short-volatility blow-up exacerbated what would otherwise have been a more benign pullback. Margin calls from that arena generate a waterfall decline, which flushes out a lot of other weak hands, who are now staring in disbelief that the QQQ has broken out to new highs yet again.
Noticing that price is bumping up against the top rail of the weekly uptrend channel, unless the uptrend is beginning to steepen. Still has some headroom in the monthly channel. I’d be pretty surprised if it just takes off from here. Certainly okay with me if it does.
http://stockcharts.com/h-sc/ui?s=QQQ&p=W&yr=4&mn=0&dy=0&id=p43104195412&listNum=1&a=488517301
(Apologies, but I don’t see how to make links hot posting comments.)
Fooled me too! Fast n furious from here would make one hell of a parabola blow off. Gold stocks would definitely get nailed with the blow and then slowly rise from the ashes like 2008, seems any loose cash goes into the big markets rather than petty gold stocks. 10 bagger gold stocks maybe achieved again once they tank thru this event and end up break even point at the prices today?. Should have to follow the yuan/gold correlation more maybe china/Russia pulling some string finally. Definitely playing us hardcore goldophiles out. Oddly enough tho gold stuff does make the top 5 list on daily money flows once in a while.# 1 spot Friday gdxj
http://www.wsj.com/mdc/public/page/2_3022-mfgppl-moneyflow.html