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Friday, May 5, 2023

Market Whiplash Continues - The Bear Trade - Gold - China - $VIX -

  Market Whiplash Continues

It seems like trading went dull & boring, back to pure panic in a day - as the $VIX continues to breakout above the magic number - but all in all the broader market only continues to trade in a range. 

Take a look at a very short term chart, and you'll see it's only whipsawing, as market whiplash continues. 

It is actually good to see that the $VIX can still act as a wake-up call. I was beginning to wonder if it was really no longer a useful indicator, as Bloomberg was seen (falsely) reporting, just prior to the recent panic; once again documenting the fact that the kleptocrats in the mainstream media report nothing but propaganda, and lies, designed to steal your money. 

But wait there's more! 
That's right, China rallied 2.5% at the open, and I saw that coming in pre-market, when I alerted to it, in yesterday's market update, yet all the lame stream media could report was chaos in the regional banking sector.  

Apple Earnings were a hit even as everyone on CNBC continues to beat the bear drum. 

CNBC even had the #1 favorite perma-bear on, to spin a bearish tale, before rudely cutting him off. lol  Something about an upturned bearish wedge pattern.... 

If you watch CNBC Fast Money, you know all those clowns were also wrong, and continue to argue with the charts. Speaking of which; how's that bullish energy trade working out for you?  

I managed to get the trade right yesterday, I'm only sorry that I can't exactly which one, or how exactly I did it. 

If I ever decide to finish the book, I'll reveal all, but until then; I'm keeping my cards close to my chest. 

Of course I reveal things in the weekly Newsletter, and you'll even find useful alerts in there from time to time. You can subscribe, using the link in the upper tab menu.  

You'll even occasionally find useful information in the public charts area.  

From the Public Charts Area 

As you can see, the market sold off, precisely at my red line, and key support isn't broken. 

Very orderly; except for a couple thinly traded markets.  

The Bear Trade 

If you're a bear, and you knew where to find the bear trade, you did pretty well. 

If you recall, back in Oct., I was calling for Financials to lead the rally, and eventually it did; however I have remained overwhelmingly bearish on the zombie banking sector. 

Here I am mocking the bulls back in Jan, 2020. 

Here I am watching for the crash - back in March - and finding it! 

And once Again, here are the kleptocrats at the Nasdaq, and Zacks, dog whistling the short sellers:

Of course they had more help from the Kleptocrats in the MSM after the closing bell on Wed.

I covered all that in yesterday's update: THE FED CONTINUES TO THROW GASOLINE ON THE FIRE 

See how perfectly choreographed this all is? 

Of course, unless you're a pro you shouldn't be shorting the financial sector, but I still believe the hedge funds who are taking the sector lower, are in fact sponsored by the Fed member banks. This explains why Powell did nothing but shrug his shoulders at the unfolding situation. I believe the entire system is corrupt, top to bottom. 

Getting back to China 

Yesterday I was a little confused by the market action in China, but as it turns out the Heng Seng Index just tested a juicy round number target - 20k.

Gold -

The recent action in the gold market is rather stunning, again retested the recent highs. 

They call this the safety trade, as they publish stories trashing the $USD. See a trend here? 

I only wonder: When the SHTF for real, will gold and gold miners perform so well? 

That concludes this update, 


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