Loading ...Monday Monday!
With all due respect to the Mama’s and Papa’s, I think Monday could be huge in terms of market volatility! I don’t know if there will be any historical, political or economic event(I am sure the media will find or create something if we get the kind of market moves I see as likely.) I believe the top I called for this week in the stock market will result in a significant decline between today and Monday. I don’t know if it will lead to a longer term decline or set up a great buying opportunity for many stocks? It is also quite likely that gold and silver will be extremely volatile over these next few days thru Monday. They may get slammed with stocks or surge higher into a short term blowoff top before a pullback and new quite period. Either way we live in very intersting times. (Crisis and opportunity)
WDR: You have right to your opinion without backup proofs (no charts). LOL!!!
just musing.
I believe there will be some type of sell off the beginning of next week as people attempt to raise cash for 2019 tax payment along with 2020 1st and 2nd quarter payment. The can was kicked down the road to July 15 and is now due despite 3 months of hardship.
Makes sense.
I personally have no fixed opinion on the stock markets in general one way or another for the intermediate term. I do not participate much. What you have written feels right for next week.
As for the precious metals and the precious metals stocks, what you say feels right as well. Since I do not like being too short of cash I used perhaps my single most useful selling sign today since I tend to be biased on the upside for PM stocks: if you (meaning myself) are thinking of selling something, sell. So I sold part of a moderate sized speculative position. Then comes the next part of the sign: find something else to sell. So I sold a tiny speculative position in its entirety about an hour later.
Usually after having made such moves I regret not having sold far, far, far more. It is nice to have cash if there is a sell-off. Not that there has to be a sell-off now.
And not that buy-and-hold can’t be good. Besides having held all sorts of horrible stocks, I have held Wesdome and Kirkland Lake since they were penny stocks and in fact added, even in the past year, although repeatedly over the years people advised not to buy them or to sell, or to take partial profits.
But cash can be good. The next few days might be a time for even a little more cash? It is awfully hard to pay for groceries etc with PM stocks. (Talking to myself.)
I had forgotten that that song ever existed.
On WDO and KL I don’t mean to do unalloyed boasting. It maybe wasn’t wise to have loaded up on penny stocks in retirement accounts. Most (unlike WDO and KL) did not do well.
Many of my past “investments” (to give them a higher status than they deserved probably) went bankrupt or nearly so. Others who frequent the G Tent will know of highly touted stocks that they like me might have bought that no longer trade or are undergoing extended trading halts.
Even if one knows what one is doing to some extent — and the longer one does this stuff the more one realizes one is ignorant — one tends to have horrible results much of the time, and to the extent one does well one often prospers partially from luck.
Clarification for the relatively inexperienced.
Agreed… I have been short the IWM since last Thursday
https://stockcharts.com/h-sc/ui?s=IWM&p=D&yr=0&mn=5&dy=0&id=p80179591985&a=733441811&listNum=43