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What is one to do..
We're in the middle of the biggest bull trap in history.
Red line represents JNUG's future.
https://www.zerohedge.com/markets/even-goldman-mocks-absurdity-its-own-sp-3000-forecast
At this point all one can do is laugh, but what is by far the funniest is that David Kostin also finds all of the above if not absurdly surreal, then also delisghtfully funny and in a rare moment of legend-level snark, the Goldman chief equity strategist writes that:
"surprisingly, the largest shock to the global economy in 90 years has left equities only 18% below the record highs of mid-February and roughly in line with the market price in June 2019, just 10 months ago."
We couldn't have possibly summarized the farce that passes for a "market" better.
The market is being held up by idiots and the 'fed' a match made in hell..
The economy is definitely different from the market..
(The economy is shut down and market still holds up..)
I will say that usually Monday's are counter trend moves, but the way gold just moved in spite of the market barely hanging on does give a bit of leverage to the idea that gold could decouple.The fact the market didn't tank was everyone's inflation tax $ at work driven by the 'fed' to prop up Wall street.
They can only hold the beach ball under water for so long..
Odds are still in favor of market dragging gold through the dirt WHEN panic resumes.
Patiently holding and sticking to my strategy.
We are trading on a tilted table at the moment. Feels like we're in North Korea..
$JDST Man was I wrong in the short term here.(In upside down world imo)
Still holding here through mining's current short squeeze, but this is ridiculous the faith in the fed is pathetic. 'Fed' is literally buying up all the panic we SHOULD be having in the overall markets. The people moving out of the market the 'fed ' is buying are buying gold. The fed's 'investment' in this market is a total JOKE and will cause much, much more pain long term..
The 'fed' just pumped gold to new highs through 'saving'/propping the market up by printing literally trillions. Leading to gold looking like it's about to decouple/ break from the markets, but this is only temporary as I believe the market will drag gold down once panic inevitably begins again in spite of this $ printing.(Fed can't alter reality/pschology forever) This has got to be the end of the market, or idiots still buying and holding it, being artificially held up.
Fed is paying idiots to be DUMB and sacrificing those of us with half a brain+ that know the market needs to head lower.
(Central bank investing in socialism as we speak)
CRAZY TIMES.
Glta through this mess.
They were baked in before the market bounced. Market has now had a bounce to the 50% fib retracement.(Bigger then I had thought) Panic will resume soon as the market starts to factor in ugly future again.(Dollar, $JDST, and volatility indexes rally)
No central banking can change human psychology. They can try to 'guide it', but the free market always wins in the end.
This is when you load up on metals and miners.
This will rally into the RS on the 22nd. Sell this into this rally before the RS. That is unless the situation involves GDXJ breaking 20$. Could happen, but not leaning to that big of a minor breakdown unless this virus starts shutting down more mines and gold breaks hard towards the 200 week ma..
Panic in ALL asset classes is without a doubt coming back soon. Fed will/can try its hardest to squeeze the smart traders into covering their shorts, like it currently is, but it won't work long term imo.
GOOD TIMES AHEAD. ;^)
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$JDST I would say I try, but I write what others, I think, would like to see.(Honest takes, backed up with action) Just as I would want them to do for me.
Solid foundation.
BTW you can really tell metals, indirectly the miners, will implode when you look at what gold did in 2008. It will resume lower and make the emotionally attached that 'know it's going higher', sell at the bottom to us/me around the $1350 mark on gold..
(Metals tied to the markets more then most would like to tell you)
You can really see the coming breakdown when you look at silver..
Glty and execute YOUR strategy based on history. Don't buy the cheap hopium at the moment that's going around.
Most volatility we will ever see in our lifetime coming.(The worst is NOT over)
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