The Alarm Clock Says Sell
More often than not, if it’s 8:20 A.M. Eastern Time, hold onto your hats and get ready for the daily U.S. dealer selling. Sure enough, today is no different.
centrally planned government algorithm cycle in oil still negative and gold looking early like the 5 day cycle is coming to an end, sellers hit the market as the U.S. session opened. Ho hum, what else is new?
We aren’t finished just yet. How about a new high, our very own $20 in 20 minutes blue-light special? Sound good? Get used to this kind of volatility and changes in cycles/momentum going forward; as the U.S. and European fiscal situation deteriorates further with each passing week.
Don’t expect the Fed, or the other government planners in Europe, to just sit by and let you take advantage of the folly of Chalky Soetero. Buy and hold will get you hurt.
And, just to add insult to injury, our friend the FWD [Flying Wedge of Death] has made another appearance today with the late morning reversal. From the highs, where you gonna go if you’re just getting long?
To government, it’s just prices; to you and me it is real money. They don’t care about price; they care about getting you to take it lower for them. Looks like mid-morning somebody said “No Thanks” in a big way.
Have a good day everyone.