Mallett Share Discussion Threads

[atlantic57] 05/6/2020 17:47

In any market crash Gold ,bitcoins Etc are always liquidated .

I have missed the rally so I hope you are correct George otherwise I will be entering the market at much higher prices.

[georgethefourth] 05/6/2020 16:51

I'm still not convinced by the rally tbh. The fangs are still looking toppy and seem stuck at or around their pre-Covid highs. They could gap up and blast through I suppose, but I'm not sure. Gold has come off today and the miners following. They look to have some resistance here though so it might just be a back test. If the markets start to drop next week I think gold and the miners will follow and fall off a cliff

[atlantic57] 05/6/2020 13:34

I suspect he will be rewriting the script here.

. My level of technical analysis is not good.

However the Dow to me is showing huge strength in crashing through every resistance point in very quick time. I await his next comments but i strongly suspect he will suggest the crash is after the election if trump loses. For now we are not far away from the high of the year in the Dow which does not seem to reconcile with his chart of the 1929 bounce which we look to have exceeded.

[11_percent] 05/6/2020 10:59

The problem for is I am long NDX.....and it is standing still, just under ATH.....with the DOW powering ahead making highs.


Yes, as per the blog - Wed 03/06/20 – US Share Market June (post 184)
the re-test is June...….as per the Nasdaq array.

[atlantic57] 05/6/2020 10:31

Ok Guys Dow is currently on a blistering run upwards .
As Socratese is constantly reinterpreting data I suspect these correction dates may well be pushed forwards.

My understanding of his comments are that technical analysis suggests there should be a test of the low in June.( 3 months after the March low)

However looking at the trend that does not seem likely .After the election if the democrats win looks the more likely zone.

This will be a good test of Socratese for me can artificial intelligence see what the human eye cannot see.

June retest ?

[11_percent] 04/6/2020 18:53

Yes.....my guess is that if the Dems look like winning....there will be tax increases....so markets fall.

[georgethefourth] 04/6/2020 18:15

He also seemed to suggest though that if the democrats gets elected the market could drop for two years after that. In which case we could just rise on up into the elections and then be looking at a more prolonged drop. im still short (long 3uss) as he still seems bearish

[atlantic57] 04/6/2020 14:49

Thanks for that

[11_percent] 04/6/2020 14:41

Yes, the target dates are moving.

The constancy has been that the re-test will happen......in July. Is saying that the array for the Nasdaq is showing the turn in July.

QQQS and 3USS are just ETFs. They are run by Wisdomtree. They track the indexes, but x3 short.

If you go to the Hargrieves Landsdown site, and enter the tickers, they will come up.

[atlantic57] 04/6/2020 14:19

11 Surely he is constantly adjusting the target...

He had a big fanfare in May about Gold and the Dow hitting key points then stuck with june. as the big correction month.

EVERYTHING STILL LOOKS A REVERSAL IN THE BOUNCE COME JULY.

Now as i read it he is talking july for a reversal ..

If that does not happen then the post election period will be volatile

are the shorts you mentioned trading on the nasdaq

[11_percent] 04/6/2020 09:34

Throw everything at it – will short the US indices, using QQS and 3UUS.

Yes, I try to identify a trend, and then follow it……however, I often “bottle it” and sell on a dip, only to have to buy back higher. Need to stop doing that.

I don’t know what will spook the market, and lead to the re-trace…..could be anything.

Will have a look at GPM.

[atlantic57] 03/6/2020 17:49

No reply yet on pm

[11_percent] 03/6/2020 17:30

Yes, we are 26,151 now.

Also, see my reply on Private Message (PM).

[atlantic57] 03/6/2020 13:25

The latest offering from Socrates to my reading is now pushing the correction from june to july.

As it is interpreting constantly changing data this no doubt could change again .

in any event 26250 as a target seems likely to be reached fairly quickly.

[atlantic57] 02/6/2020 08:37

Thanks I remain predominantly in cash

[11_percent] 02/6/2020 08:10

The main thing that supports this thesis is that on every bb people seem very optimistic.

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

Indeed....and with good cause.

I have made good money since the US markets bottomed.....and so have most people.

I follow an "AAZ".....wanobies thread....a lot good traders and good tips.

[atlantic57] 01/6/2020 14:33

Ok eleven percent

Gold rose strongly on Friday in anticipation of tough sanctions by President Trump.
That did not happen so now we seem to drifting rangebound and based on my previous interpretation we may not go much higher in the short term.

Regarding the markets Socratese has offered his view He still expects a testing of the low as I understand it.The main thing that supports this thesis is that on every bb people seem very optimistic.

[11_percent] 30/5/2020 20:01

Ok, cheers......will have a look.

Yes.....I can not copy....I type it out.

[atlantic57] 30/5/2020 08:44

Post gold and it’s role 17 May 2020

Whenever I try and copy a private blog it won’t let me.

[11_percent] 30/5/2020 08:35

On the other blogs, US civil unrest right on time......and Hillary for Democratic candidate.

[11_percent] 30/5/2020 08:30

Socrates appears to be saying that Gold has to close above 1755 dollars for it to continue to make new highs. If it does not then 1755 could be the limit for some time as he appeared to imply that in the second half of the year the price would fall.

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

a57, where did you get 1755.....I must have missed it.

Cheers.

[11_percent] 30/5/2020 08:19

Ok, we closed (monthly) under 26,250 and the DOW is still weak. I assume if the DOW tanks to re-test the lows, the other indexes will go with it.

He has said "We still see the 2nd Quarter as the LOW (intraday or close) - 16/05/20).

So, its got happen in June.


===================
atlantic said,
My instincts tell me that with the lockdown being eased unless there is a sudden spike in cases causing more lockdowns there could be a sustained rally into
june with profit taking at month end.

---

Ok, yes agree....but my take is that he is saying that the FED have thrown the kitchen sink at this, and its worked in that people are not fighting them.
However, my take is he is saying (or has been saying) that the economy is in a state and that when people realise this - the DOW will tank.

[11_percent] 30/5/2020 08:14

Fri 29/05/20 – US Share Market (Close of May)

The DOW has still not elected any Bullish Monthly Reversals and it has been lagging behind as optimism in Europe has gone nuts as the punters think that eliminating paper currency and moving to a Digital Euro will be bullish for the economy.

Some politics on the electorate (unwashed).

Nevertheless, we are still looking at just a reaction and things will get much more interesting from June onwards.

Then a paragraph on Biden getting the boot and Hillary being drafted in as the candidate.

As long as the DOW closes below 26250, then it still remains in a weak position.

[11_percent] 30/5/2020 07:58

a57,

Sorry I have not been around for a while.

Will post latest blog, and then reply to some of your posts.