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Friday, August 9, 2019

Market Update 8/9/2018 - Trading the Biggest Stock Market Bubble In History - Living The Dream!

 Trading the Biggest Stock Market Bubble In History - 

Living The Dream!

Where to start? 

I've been up since 3:00 AM, with a headache, and thoughts racing, as they sometimes do... It's not that I'm anxious about the market; you see, last night I purchased a whole beef brisket, and planning to smoke that puppy on some Post Oak, this evening, and let it finish overnight. It's like an 18 hour project. Smoking Brisket Is An Art.

2. I need to better organize the public stock charts area - many of those charts aren't working, and I should probably add some annotations, or just take some charts down. At least it looks like today should be an easy trading day, with the $SPX testing the 50 day moving average, and holding above the support level I pinned down, going into yesterday's close. Looks like we're going to be hanging out, just below the 50 day, and taking a pause. 

a. We're watching Gold, and Silver, waiting to confirm a top, and that's a tall order. I was watching a guest on Bumble-berg (Bloomberg), who was saying gold ran "too far, and too fast", but that's just a foolish comment. Commodities run too far, and too fast, and overshoot the target, all the time! I think with the kind of momentum we've seen in Gold, and Silver, it's going to take some time to reverse. Maybe not until after contract expiration, whenever that is? That's where the real manipulation of commodities markets takes place, because that's where the big money is made. 

b. We're also watching for a reversal in beaten up Oil, and Gas, stocks. CNBC is telling up to 'stay away" from those, so I think we're getting close...  (using the main stream media as a contrarian indicator). As I mentioned last week, "the oil trade is off the table"; I just haven't had time to take a close look at it. I do see commodities building a base, but we may not see the breakout for another week or two.

If keeping several charts/sectors up to date, gets to be too much like work, I can always go to 1, or 2 charts in the public charts area. This would allow me to thumb through several other sectors, plus the $VIX, during the day - which is my habit - without having to worry above whether someone is watching.

I've kind of changed my normal M.O. (mode of operation), in order to provide the Public Charts, and it's been a stressful transition, especially in the midst of a trend reversal. Last time I pulled my Public Charts was for this reason; constant updating of the PC area, is a distraction from all the work it takes to time markets consistently, not to mention the time it takes to blog these updates.

Another reason the Public Charts came down last time, is it's impossible to know the size of my audience, and there doesn't seem to be as much interest as there used to me. Some of that probably has to do with the fact that when I saw the flash crash coming in 2010 - That drew a lot of attention, and I continued to have the hot hand for a while thereafter.... They say the flash crash was the result of a heavy hand, or manipulation by a rouge traders, but if that were the case, we wouldn't have gone back and retested the low, like we did.  I also used to make a lot of bold (mostly bearish) predictions, and most traders were still very bearish at that time.

I suppose I should send out a mass e-mail, letting folks know the public charts are back.           

Yesterday's trade was just as I predicted, and confirmed by Peter Navarro himself:   

Of course the powers that be, knew this press release was coming, and that explains why the market gapped up in the morning. What's nice is it was not a big gap up, and the breakout was obvious, and even finding a bullish channel on a 1 min. chart, proved not to be very difficult, in fact I didn't even have to watch the market action, most of the day. It was one of the best rallies, we've seen for a while.

One of the biggest short squeezes we saw was in $AMD, and the rally in $SOX, lines up pretty well with the one on the $SPX. This is a classic case of, "too far too fast"!


 The second chart I want to show you is, of all things - the Swiss market. You've probably heard it being reported that, "stocks regained all of the loses of this week", but seeing it on a weekly chart, ain't too impressive. It was a technical bounce off support, and look at the candle! This market thinks it going somewhere? I'm always amazed what you can find a market bottom using a 1 min chart, when the same thing can be found on a weekly chart, and while they're tell us to fear a China trade war, you see global markets melting down for a million other reasons.

 This is anther black swan, and the Swiss government has been buying stocks for a long time btw
It's pretty sad, when you gotta go to Russian Television to get the truth, but you should should check out Max Keiser if you want to know what's really been going on, and why it's all going to end disastrously.  Here's a link...

Keiser Report: Monopoly Crisis and Negative Yielding Debt (E1420)

Funny, if you caught yesterday's blog, you know I called out Twitter, for their fascistic behavior, and set a $TWTR target of 4.50. But  the uncanny thing is that this was before they blocked Mitch McConnell. This one of those clairvoyant things I can't explain, but it happens to me quite often

Twitter suspends Mitch McConnell's campaign account after posting video of protesters threatening him



One more black swan! The Italian government is melting down, and the chart confirms it! Another disaster, having nothing to do with China.

Italy’s political chaos sends European stocks sliding

I'm outta time. Have a great weekend!

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