Loading ...Another Fish Line Opening
For the most ardent of the bulls it should now be unmistakable … More Bear Market Action:
But given that this was destined to occur it is good in the sense in that we now know for sure where we are in the bear market. After tomorrows trading we will be more able to assess but this looks to me like the long awaited and doubted bear market POR. I sensed we had been approaching it. That put’s the bear somewhere in the second half of Phase II. I have said for a while now that a breach of GDX 30 would likely be associated with a transition into Phase III. I plan on covering my shorts in the morning if these levels hold as this looks like a pretty good clean out.
My personal objective is to arrive at the bottom with sound unraveled mind accompanied with a full purse. At that time I plan to have my portfolio list ready to acquire in size.
Oy Vey…Bob just died
RIP Bob
Plunger…looks like this is your POR
We should know better tomorrow, but like Rambus mentions about charting the PMs they chart very classically. I would say the same about the progression of the psychology, it’s quite classic. What this changes now is I doubt you will see the ardent bullishness anymore. Bulls will just be too bludgeoned to express it. Of course if another BMR unfolds it will reemerge. But any BMR will now likely be more muted Than the big Mar-May BMR
Large wicks forming on the futures charts