I am watching this selloff in Silver, down for 14th straight day, clearly the smart money is pushing this selloff to scare the dumb money into selling, now we just need to wait for a price action signal that the smart money is ready to start buying again.
I download this market watch app for my Iphone and look at the 8 stocks on it’s main watch list. I am more of an ETF guy but if I were to be looking to buy individual stocks, these 8 would make for one hell of a portfolio , I will be looking to buy these on the next market correction
Stocks rally with many new highs, oil reverses, Gold and Silver weak, Pound continues to rule the currencies , Bitcoin explodes higher , all this and more in my weekly market review, just click link below
The Crypto Currencies are seeing huge increases, Ripple has just past Ethereum as the #2 by market cap, and speaking of market cap, the top four have seen a 12 billion increase in market cap so far this month, that is a 35% gain.
Energy sector shows some follow through from Friday’s reversal, rest of the market was mostly down lead by
Biotech down -2.7% and giving up it’s #1 ranking to the QQQ’s
So much for our rally in energy, as majority of market has given up it’s 10 dma. YTD top ETF Biotech was top mover on the day up over 1.5%
Gold and Silver continue to be pushed lower, more on that later
A mostly up day lead by Energy, this back and forth action we have been seeing in energy should be indicating a bottom to the current down trend, Semiconductors also had a nice day on a huge earnings move up by Nvidia
A lot of red today but it really was not that bad, most areas were down big but came back by the close and gave us a few bullish pinbars. The clueless mainstream media tried to blame the early morning selloff on Trump’s firing of FBI director Comey, that is nonsense, this market has shown little interest in politics. Retail lead lower on bad earnings from one of the big box stores, retail is one area of the market to stay away from
Is Gold and Silver back in play, Both are positive for the week ending a deep 3 week pullback, and Gold Minders are again leading. This is always a coin toss, either the smart money has bought the low and is now pushing the price higher or the smart money is looking for more suckers and is faking this weeks rally just to draw more dumb money into the game. That is the risk we all face and why you never go all in
For the week stocks were mixed with new high in the Nasdaq, Oil grinds higher, Gold and Silver find support, Bitcoin tops 1800 , In currencies Euro might be the play this coming week, All this and more in my weekly market review
On Friday Biotech lead the minority higher and gave a nice weekly pinbar reversal so I will be watching for XBI to lead the market higher this week. Be careful here, we are do for a market wide correction that will take down the strong and weak alike
Lots of green to start the week, only area down was Retail ( no reason to own retail) Buyers came in in the last hour to push most indexes to it’s high of the day, Market was lead by Metals and Mining followed closely by Homebuilders and Semiconductors, pick your place to take profits
Just came across your thread and got impressed. Nice watch list and worthy trading tips throughout the entire topic. Stocks skyrocket as greenback weakens. Btw have you traded any microcaps? Those pennies look very bullish too
Big sell off in equities fueled by Trump impeachment talk, up to now the Markets have pretty much ignored the worst reality show in history, but now at least for today they are reacting to the idiots in Washington, notice how price hit the 50 dma and reversed, funny how that always seems to happen. The telling story will be the afternoon session, if price recovers or at least stays about the 50 dma, then I am not to concern, but if we get another round of selling and the 50 dma is broken then this could get ugly
So where is all this impeachment talking likely to go. Well the democrats were calling for Trump’s impeachment the day after the election so they are just playing to their base and you cannot take anything they say seriously, Republicans on the other hand would be committing political suicide to ever allow anything close to an impeachment to ever come forth. Sure you have your " Never Trump Republicans" like John McCain who is older than dirt and will likely die before completing his current term. But most Republicans know without Trump voters they will be facing a total wipe out in 2018. With that said expect a lot of volatility in the markets this summer,
was this an over due market correction or Washington politics, lots to talk about, I will have more post later as I look over the charts, if you lost money today, send the bill to the mainstream media and the Democrat party, this is 100% on them
To think we were are all time highs just yesterday, well this is big but there has been much bigger and buying the dips has worked the last 7 years. Another day or two of selling would not be a bad thing, then when the scared money leaves the market I will be looking to join the smart money and do some buying,
So what areas are safe from this correction, Utilities, consumer staples, Gold , Silver, Miners, and Crypto Currency, so far, that could change.
