EconRuminations

EconRuminations

Still short ETH with a target of $1,650. I expect $1,650 to have a great potential for counter trend rally with a retracement (at the moment likely around $2,450ish). If this is the case I will be adding to the short with the rally. Trailing stop updated to $3,000. ***Bonus*** If this continues and confirms as a longer term bear trend, as judged by the...

EconRuminations

Looks like that bear rally didn't last too long. Next stop around $1,970 but wait till trend change to go long. Bear whips are going to be quick and deadly.

15:43

EconRuminations Updated 

WATCH THE VIDEO BOTTOM LINE: BEAR MARKET DECLINES SUCK AND ARE PAINFULLY QUICK TO MANIFEST ON THE DOWNSIDE. ESPECIALLY THE INITIAL DROP FROM THE HIGHS. BEAR MARKET RALLIES (COUNTER-TRENDS) ARE ALSO FIERCE BUT DEVELOP AND FAIL MUCH MORE QUICKLY. (YOU NEED AN ATTRACTIVE, AND DEADLY, TRAP TO STOP A RAGING BULL). BE AWARE OF YOUR RISK. PAY ATTENTION ACROSS TIME...

EconRuminations Updated 

This is distribution.

EconRuminations Updated 

Target $1,700. Will likely close short regardless. Getting overheated to the downside on the short term. Even if it continues down, we did well!

EconRuminations

Enough said. Will likely close the short at $2,200. I do not suggest taking a long position after close until trend change is confirmed.... Even if that means missing part of the move! Always have a plan BEFORE.

EconRuminations Updated 

This is just a pullback in the short term. Longer term head and shoulders broke down and this is just a retest and retrace. Great entry for short. Great time to sell if you got caught in the previous break. IMO Next time to be interested in long starts around $2,600.

EconRuminations

It looks like we're going to continue the downtrend and my first stop is $2,600.

00:25

EconRuminations

I have a feeling he'll be another body in the pile.

06:58

EconRuminations

The video does the talking.

EconRuminations

No video necessary. Just look at this chart.

07:36

EconRuminations

Phenomenal run in BTC on the longer term time frames suggests we have gotten quite exhausted. Looking at the shorter term time frames, especially the 4 hr, indicates a confirmation of our view that BTC is rolling over. Paper hands keeps realized profits in this event. No sense going through a 50% drawdown. Better off getting to the sidelines and waiting for the...

01:54

EconRuminations

START AT THE LONGER TERM CHARTS TO SEE WE ARE QUITE STRETCHHHHHEEEEDDDDD... Video explains why on the short term basis 3,200 will be the next stop on the leg down and the first opportunity to assess whether or not it's worth a nibble. Paper hands can help you avoid realized losses.

EconRuminations

TVC:GOLD Inverse head and shoulders breakout from mid 2017 through late 2019 broke out and reached a high of $1,750 without ever testing the neck line again. While it is not necessarily probably that it do so it is certainly possible we get there or close. Momentum suggests this, RSI supports, Price action is weakening, and moving averages point to a pull...

EconRuminations Updated 

I THINK THIS STOCK GO UP BIG. YO.

EconRuminations Updated 

Shorting GDXJ from $37.17 with a target of $27.86 to $30.00. --------------- I believe that with markets potential to fall we will likely see another round of weakness, even if briefly, for the miners and gold in general. The potential for more profit taking or selling for margin have been greatly increased with the rapid rise in GDXJ over the past week and with...

EconRuminations Updated 

Heading into the debt ceiling disaster and fiscal drama, the treasury almost out of cash, the stock market at all time highs, and more military and at home spending (ironically) there will be plenty of momentum to move gold up. I do NOT believe the market is headed for a crash at this moment but a nice correction should propel gold up. Add to that the technicals...

EconRuminations

Given the daily technicals as well as the fundamental / sentimental risk I believe the DOW is in for a leg down.