Market Comments
Roger Wrote
Market comments:
1)Most mining stocks have done The IBD "cup and handle" formation chart
pattern. Handles could be sideways or declining which confuses some folks. Now
the prices are breaking out of the "handles" upward with strength. Some who
did a sideways handle have gone to multi year highs. My retirement account
went to a 2 year high today. Maybe more but the account only looks back 2
years. ------------------Lrtnf(pure gold) price is now over 100 percent of
it's 200 day average. When the last bull trend was peaking many miners went 50
to 100 percent above the 200 day averages. Now only a few are stretched like
that. There will obviously be corrections but the trend is up. Today I sold
something 40 percent plus above the 200 day. WHY??? Ans --to buy another one
at the 200 day and turning up. ENJOY
2)Is this a dangerous market or not??? Please look at $ndx:$spx-------ie the
nasdaq 100 divided by the snp 500. IT HAS NOW EXCEEDED THE HIGH TECH DRIVEN
2000 TOP IN OVER EVALUATION. Meaning-----there is a huge concentration of
money in the faang stocks heavy in the nasdaq 100. Question---In a real bear
trend to whom could they sell those shares??? KNOW---in the "nifty 50" era of
the early 1970's, when the bear market came, the leaders went down to 10-20
percent of the peak prices.
3)now look at IWM:$spx---what the broader market is doing versus the
averages.-----NEXT---look at IWM:$NDX--------what the big faangs and big techs
are doing versus the broad market. ----IMO the generals are out in front while
the army is in retreat. ------------------Is the strength in gold, silver, and
the miners telling us something???
4)Trends----bitcoin and blockchain likely a lot more to go. Studying the
drug (POT) stocks it appears there is a bright future in TIME. Fed and state
regulations burden the companies. Less than 1/2 the states even allow pot
sales. Then there is medical use (CBD) and recreational use--smoke. Our far
western state taxes sales at 40 percent. ---------------------IMO Pot will, in
TIME, become legal federally and in all states. WHY??? Govt's desire the tax
revenues.
Stock Market Data & Capital Markets Advisory
4 年DIA Outlook Signal 49% Falling 5-8 48% Falling 47% Falling 43% Falling 39% Falling 37% Falling 40% Rising 42% Rising 42% Unch 49% Rising 52% Rising 54% Rising 58% Rising 61% Rising 65% Rising 67% Rising 70% Rising 73% Rising 77% Rising 80% Rising 81% Rising 6-8 82% Rising 83% Rising 81% Falling 77% Falling 72% Falling 68% Falling 65% Falling 63% Falling 61% Falling 57% Falling 52% Falling 47% Falling 43% Falling 39% Falling 35% Falling 33% Falling 6-30