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Two lessons in chart reading…

May 27, 2017 // 0 Comments

dAs you know, my view is that 99.999% of traders/gurus/pundits have the cart before the horse in how they believe the financial markets function. They believe that when a bullish or bearish piece of news hits the markets, they must react accordingly. But as we know from experience, they often act in a perverse way.  Amazingly, despite this, they still cling to their [...]

The Dow is following my roadmap beautifully

May 20, 2017 // 1 Comment

On March 1, the Dow made its all-time high at 21,170 and then started a decline which was when I labeled that high as the long-awaited long and strong wave 3 top.  My forecast then in early March was that the ensuing wave 4 down would be complex, probably in the form of a 5-wave wedge or triangle.  And when this pattern was complete, there would be a surge up to new [...]

I’ll ask again – are we there yet?

May 18, 2017 // 0 Comments

Last weekend, I made a case that a major high was near in the US stock indexes such as the Dow, S&P and Nasdaq.  That was a pretty timely call!  For lo and behold, in overnight trading on Wednesday morning, that was precisely what it looked like as I switched on my PC and saw the Dow was off 100 pips.  As I write, it has plunged further by 400 more pips. This is [...]

Are we there yet?

May 13, 2017 // 1 Comment

The US stock indexes have long been widow makers for the bears.  Anyone shorting them, especially after the Trump win last November, have been crucified. But is it time to seriously consider the end is nigh for the most stupendous stock market rally in recent decades?  After all, no tree grows to the sky and all extreme sentiment turns down eventually. Of course, there [...]

Is silver making a bottom here?

May 6, 2017 // 0 Comments

Last time, I headed my post “Gold bugs squashed“, but the silver bulls have suffered even an greater percentage calamity.  As I outlined, we have been short both gold and silver since identifying the high in mid-April and have been fortunate to ride the waves down accumulating very large gains in a very short time (my ideal trading scenario!). Today I will [...]
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