Mallett Share Discussion Threads

[georgethefourth] 19/5/2020 14:15

I'm still short. I keep coming back to the negative divergences on everything. If I wasn't following Armstrong I may have closed out of the shorts by now, but I'm gonna stick with them a while and see how it plays out

[atlantic57] 19/5/2020 14:11

Ok let’s see if the yanks slam gold pm

[atlantic57] 19/5/2020 08:11

It looks like the Dow is now heading through the key resistance level of 24700 .

He seems to be covering all options in his daily dow summary but being short at the moment could be costly.

It is evident that sentiment has changed for now

The key fro me is once lockdown is eased will the virus come back !

[11_percent] 19/5/2020 07:54

So far..looks like yesterday was a high for Gold....and, Markets are heading higher.....possible High, lets see.

[11_percent] 18/5/2020 22:36

But that's a bit redundant isn't it? If today's the high in gold then it will be lower on Thursday. But if today's not the high, then it'll go higher? Thats self evident int it?

Yes.

===========

The bit about Thursday being a low also, to me anyway, implies that it would go up from there. If it continues dropping then it isnt a low is it?

Yes.

==============

However, the way I read it is that it s2 Highs.

But, it also says, Gold elected a "Buy" signal.

==============

It seems clear, tomorrow is the High for Stock Markets.

Lets see.

[atlantic57] 18/5/2020 22:28

Sell gold and the Dow is a reasonable conclusion to draw.

However if we read earlier posts I think he said a May low for gold followed by a rally into end of june

[atlantic57] 18/5/2020 22:28

Sell gold and the Dow is a reasonable conclusion to draw.

However if we read earlier posts I think he said a May low for gold followed by a rally into end of june

[georgethefourth] 18/5/2020 22:09

But that's a bit redundant isn't it? If today's the high in gold then it will be lower on Thursday. But if today's not the high, then it'll go higher? Thats self evident int it?

The bit about Thursday being a low also, to me anyway, implies that it would go up from there. If it continues dropping then it isnt a low is it?

[11_percent] 18/5/2020 22:03

So - - sell gold and the DOW.

[11_percent] 18/5/2020 21:52

a57,

Is he saying tomorrow May/be the high for the Dow ?

====

"Today may be “The High” for the bounce in Gold with the Stock Market showing perhaps tomorrow."


Yes, missed that.
Today was the "High" for this current bounce/rise in Gold (and it now going to fall)

AND

The "High" for the stock market is tomorrow.

======
The last paragraph still stands - for Gold Thursdays close will b elower than todays close.

If Gold exceeds today’s high (1765) – means move up till Thursday. (Does look like happening).
If not, then Thursday could close under todays low (1727, so far).

Summary – Thursdays close will be under todays low – 1727, so far, but wont be far away.

[11_percent] 18/5/2020 21:42

First paragraph describes a “Panic”. Likely to go high and low. I assume we are talking about Gold here.

Second paragraph, say we avoided a “sell” signal for DOW - BUT – got a “buy” for Gold.
This warns that the bounce was in order – assume he means the bounce in the DOW over past few weeks.

If Gold exceeds today’s high (1765) – means move up till Thursday. (Does look like happening).
If not, then Thursday could close under todays low (1727, so far).

Summary – Thursdays close will be under todays low – 1727, so far, but wont be far away.

[georgethefourth] 18/5/2020 21:29

I misread slightly, and as you say 11percent, he was referring to gold not the markets for the last paragraph. I still don't understand though. Either today is the high and Thursday is the low, implying that today's high would be taken out. OR gold rises into Thursday and then drops?

And what does 'the stock market showing perhaps tomorrow" mean? That it tops out tomorrow?

[atlantic57] 18/5/2020 21:26

11 percent

Is he saying tomorrow May/be the the high for the Dow ?

Gold I am completely lost on his comments

[11_percent] 18/5/2020 21:10

Mon 18th May 20 – Panic Cycles

Keep in mind a Panic Cycle is NORMALY something that takes out previous session HIGH and LOW. Some times it can just be a big move in one direction. But this does not seem to be the case for this
week. This suggests that caution is advisable.

Avoiding the sell signal on the DOW on Friday, and electing a buy signal for Gold, warned that bounce was in order. Remember that we are not yet at that place where the general shift will take place when people suddenly wake up and see this coronavirus for the nonsense it has been created to divert our
attention. This remains a major assault of a coalition of Climate Change and Socialists pushing for
digital currencies and a major default in the Sovereign Debt Crisis cleverly being pitched behind the
curtain. This is the Monetary Crisis Cycle on steroids.

Today may be “The High” for the bounce in Gold with the Stock Market showing perhaps tomorrow.

If Gold exceeds todays high, then it could move up into Thursday, else Thursday could be a low closing below the lows of today.

[atlantic57] 18/5/2020 20:03

Yes there is a large degree of after the event interpreataion.
However in defence of Ma I would say.

A Markets are subject to constant change.

B I still rate Martin as way ahead of other talking heads.

[georgethefourth] 18/5/2020 18:41

I'm rapidly losing faith in Armstrong tbh. Take his latest post today. He says that after we didn't get the sell signal on Friday and got a buy signal in gold that this would obviously happen. Well why wasn't he clear about that before the event. He does seem to cover all bases with every post.

He then says that today may be the high. But that if it isn't it may go up until Thursday. Or else Thursday may be a low. So clear as mud then. If Thursday is a low then what, we blast off upwards? At which point he says that it was obvious and predicted?

[atlantic57] 18/5/2020 17:34

yes indeed well said i think Socrates also covered all angles by saying that if did not get a low in this quarter it would be in the final quarter.

i am no expert but the following observations for me are pertinent.

When the markets plummeted in march that was the time to have been a big buyer as many shares had huge intrinsic value.

Will we get a second chance Socratese thinks so but i am not so sure

[georgethefourth] 18/5/2020 17:19

It's just given up what it put on overnight last night. Meanwhile the markets had their best day in weeks... So much for a panicked drop...

[11_percent] 18/5/2020 16:31

GOLD

Well......he say this week would be a Panic Cycle and volitility…..lol.

The Yanks hit it at the their open.

[atlantic57] 18/5/2020 12:01

I am familiar with Krondief wave and Elliot wave . Gold back to 890 that
Would be a hell of a shock

[georgethefourth] 18/5/2020 11:26

Agreed. Armstrong does make a compelling case that the amount of printing isn't enough to offset the level of destruction and so the net effect is deflationary. He has kept saying that the real moves will happen when government distrust reaches a tipping point and as you say you can definitely see that happening all over the world.

Are either of you familiar with henrik zeberg on Twitter? He bases his charting on Elliot wave and it seems to mirror armstrongs stuff in a lot of ways. He sees one more deflationary drop, taking gold down to 890 (!) at which point the miners will be the buy of a lifetime

[atlantic57] 18/5/2020 10:33

The fed money printing dwarfs the money printing that occurred after the 2008 crisis.
To date that has not impacted gold as I would have expected.

However Covid 19 has unleashed the begginings of distrust in government .

Certainly in the U.K. good morning Britain is doing its best...

[georgethefourth] 18/5/2020 10:15

I'm not convinced on gold fwiw. Not yet anyway. The charts of practically every miner I look at are all showing negative divergences and/or other topping patterns. I still hold one which I can't bring myself to sell having held for years (and news expected), but I'm not going to be buying any others just yet. It's a strange one though, the charts are saying sell, but the emotions are screaming buy. I've never done well when I trade on emotions though so I guess I'll just sit on my hands

[11_percent] 18/5/2020 10:11

SILVER

Having said the above, silver has an area of resistance at 18.30 - 18.60.

JPM have been accumulating phys silver. So that they get it cheap, they short the market.

When it goes over 18.30 -18.60 they whack it down....look back over he last 5 years.

At some point, they will go long, to realise again on their horde.


Be very wary.....we are headed for the danger zone for silver.