If you sold in May & went away SOON (TBD) time to return. Many weak market hands may be gone next week - especially if SPX 2825 does NOT hold.
Remember the adage "Buy when there is blood in the streets" so keep powder dry. We first nibble ~MOC
2950 Pivot S1 2925 S2 2790/2800 S3?
This was yesterday’s afternoon’s tweet.
Markets are being set up for the projected October Rally with unusual risk caveats from both China AND India/Pakistan (TBA).
Upside however may be limited to ~ SPX 3000-3100- thereafter we will lock in/hedge/raise cash for a largely trading market until Christmas.
When others will be buying (October?), we plan to sell whatever we don’t want into 2020, rather than the usual December time.
Most markets are performing as we forecast with the possible exception of our BIG Copper Play: Big rally H2 2019 (which is being delayed by the US/China spat AKA Trade War but that can change on a dime- September/October?
Gold is good but getting highly overvalued, so would prefer now just to buy select under appreciated PM stocks to more physical gold above $1500.
While the Gold/Silver ratio will soon trade in Silver’s favor now circa 88 P1 85 P2 80, being also an economic metal, will delay its inevitable rise until global economic conditions improve (as which time Gold’s crisis role will also be reduced).
When markets are freak out like Friday, it is of course a good day trading buy to hedge long market positions.
Note: We have two natural resource luncheons symposiums in October:
October 16 in New York and October 24 in Hong Kong (for the later I will be speaking and giving my first preliminary preview of 2020).
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