Gold could continue to rally as Lindsey Williams stated, because of fear in the market. He stated gold and silver would rise 25-30% between August and December. Of course his elite gangsters might not have told him that it could also crash from forced liquidation from margin calls. Hard too predict that one? I’ll only say that “if” the downside FP os 949 is correct, and we do get there, then I’ll be buying with both hands.
On the other hand, I have a FP of 84 on Silver, so which is correct? I just don’t know? I’m still sticking with a stock market crash first, and then I’ll worry about gold and silver. If they crash too, they you know where to start buying at. If not, then we’ll just have to look for bargains in the stock market… which I’m sure there will be plenty of them at the bottom.
Thank you San for your charts. If I went with your charts Monday, I would not had to go thru so much stress overnight to gain a couple percentage points.
Yes Johnny, we do have a 20.16 FP on the SPY. But since they recently put out the 34.65 print again last week, I think it’s the valid print. That 20.16 print is well over a year old now and things may have changed. That’s why I suspect the 34.65 print replaced the 20.16 print.
Glad you survived. I’ve lost many times myself, so I feel your pain. I think the short term charts will be overbought by the time Bernanke speaks at 2:15pm. While they could have a fake out move to the upside from something he says, I think we’ll continue the sell off afterward. The safer move (in my opinion) is to be short before he speaks. I don’t expect today to close up big like most FOMC days have been in the past. I expect a small up, flat, or down day today.
Red,
Don’t we still have the FP of SPX 1382 to still hit? Talk about fooling everyone to steal money from the sheep with a massive bear squeeze? Also, I know in your video you said the bottom was SPY 34.65. Isn’t there a FP of 20.16 SPY?
Red, I should have taken your advice Monday. I jump the gun getting out of double exposure etfs sp 500
At approx 1144 level and bought the long etfs. Went thru some stress last night and just sold out of the longs with a small gain. Waiting for another set up to short the market.
Gold could continue to rally as Lindsey Williams stated, because of fear in the market. He stated gold and silver would rise 25-30% between August and December. Of course his elite gangsters might not have told him that it could also crash from forced liquidation from margin calls. Hard too predict that one? I’ll only say that “if” the downside FP os 949 is correct, and we do get there, then I’ll be buying with both hands.
On the other hand, I have a FP of 84 on Silver, so which is correct? I just don’t know? I’m still sticking with a stock market crash first, and then I’ll worry about gold and silver. If they crash too, they you know where to start buying at. If not, then we’ll just have to look for bargains in the stock market… which I’m sure there will be plenty of them at the bottom.
Red what is your take on GOLD?
Thank you San for your charts. If I went with your charts Monday, I would not had to go thru so much stress overnight to gain a couple percentage points.
A BULL run here would be enormously interesting.
Red, what does 34.65 translate into sp 500 points?
Thank you
ES Support and resistance lines: http://niftychartsandpatterns.blogspot.com/2011/08/es-support-and-resistance-lines.html
Yes Johnny, we do have a 20.16 FP on the SPY. But since they recently put out the 34.65 print again last week, I think it’s the valid print. That 20.16 print is well over a year old now and things may have changed. That’s why I suspect the 34.65 print replaced the 20.16 print.
Glad you survived. I’ve lost many times myself, so I feel your pain. I think the short term charts will be overbought by the time Bernanke speaks at 2:15pm. While they could have a fake out move to the upside from something he says, I think we’ll continue the sell off afterward. The safer move (in my opinion) is to be short before he speaks. I don’t expect today to close up big like most FOMC days have been in the past. I expect a small up, flat, or down day today.
Red,
Don’t we still have the FP of SPX 1382 to still hit? Talk about fooling everyone to steal money from the sheep with a massive bear squeeze? Also, I know in your video you said the bottom was SPY 34.65. Isn’t there a FP of 20.16 SPY?
Red, I should have taken your advice Monday. I jump the gun getting out of double exposure etfs sp 500
At approx 1144 level and bought the long etfs. Went thru some stress last night and just sold out of the longs with a small gain. Waiting for another set up to short the market.