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Where The Markets Are Today...
Stocks got crushed this week with the S&P 500 dropping 90 points between the intraday high and low. As a result of this, we’re now at major support at 1,200:
The market is oversold and traders are looking for an opportunity to ramp this thing higher. So we could see a move to 1,250. Remember, no investment goes straight up or straight down and most collapses follow a pattern of:
1) the initial drop
2) the bounce
3) The REAL drop
Indeed, the only thing that could really kick off a rally for stocks would be the announcement of QE 3 (or hint of it) from the US Federal Reserve. However, even this would be short-lived. The market has finally begun to realize that the Fed can’t solve the issues that created the 2008 Crisis. Which is why we’ve been in a free-fall for over a week now.
With that in mind, now is the time to be getting more and more defensive. This means moving to cash, Gold, and other safe havens. If you need to remain long in stocks you need to be shifting to high-quality, large-cap companies with strong balance sheets (little debt and lots of cash). They’ll fare better than small-caps or move speculative plays during a collapse.
Elsewhere in the markets, the US Dollar has rallied hard as investors flee stocks and the Euro. We’re now at resistance at 75. However, we need to break above 76 with conviction if this thing is going to last. If we do that, then the falling wedge pattern I noted a few weeks ago predicts a move to as high as 84.
This would coincide with stocks absolutely cratering. It could very well happen, so you need to be preparing for this in advance.
On that note, if you’ve yet to prepare your portfolio for Round Two of the Financial Crisis, you can find actionable investment ideas that will not only protect your portfolio, but help you produce outsized profits in my FREE report, The Financial Crisis “Round Two” Survival Kit.
This report is over 17 pages long and includes detailed analysis of why the First Round of the Financial Crisis happened, why the next round (Round Two) will be even worse than 2008, and which investments can produce triple digit winners when the market crumbles.
This report is 100% FREE. To pick up your copy today simply go to: http://www.gainspainscapital.com and click on the OUR FREE REPORTS tab.
Good Investing!
Graham Summers
PS. We also feature two other reports, one outlining how you can purchase Gold at just $350 per ounce and another featuring two investment ideas that will skyrocket as the world’s paper currencies collapse in an Inflationary Armageddon.
These other two reports How to Buy Gold at $350 and The Inflationary Armageddon are also available at the OUR FREE REPORTS tab on http://www.gainspainscapital.com.
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"These other two reports How to Buy Gold at $350 "...
HAHAHAAA how the fuck do you Summers have time to write this obvious crap when you're so busy snatching up the last vestiges of$350 GOLD?!¿!¿!!!!?
Can someone please repeat after me: DOUCHEBAG!
Must... close... green... LOL
It is time to squeeze some shorts.
gh
I have pretty much set a very high sell order and quit for the weekend.
Last night I panted and slobbered all over my monitor while furiously typing into ZH what scenes we must behold upon the Emerald City in all it's glory come sunrise this morning.
Instead I have to tear my hair out and choke on my words. I also opened my mouth and said metals will zoom. Is the opposite.
It's best I stay out of the .... knifefight/saloonbrawl/junkyarddog/massmurder going on inside this .. this... phone booth from Dr Who on the today's market.
I know two things for gospel. God put mountains there because we cannot resist climing them for his amusement. And the Market puts down pretend numbers for us to chase up or down. In a way we are all Pavolov's Doggies.
What the HELL???? Obama speaks of incentives for ex mil coming home??? I appreciate their service but what makes them any better than anyone else? They opted to go into the military, just like some opt to go to college, and others opt not to. Tax breaks for hiring mil??????? What about the rest of the populace who have been suffering right along with everyone else??? Stinks of voter fraud!!!!!!!!!!!!!!!
...and the markets rally over this bullshit?!?!?!?!?!
https://www.gunsgrubandgold.com/forum
I agree. Land of the free, but some are more free than others.
Unemployed vets have a habit of fomenting rebellion. Roman Legions. Napoleon's Old Guard. German Freikorps. March on Washington. Obumma's giving vets a boost because he fears them.
Beginner's question: Is there a way to tell if the Fed stopped the decline today?
2 things; 1-TBTFs still in business; 2-Ben Bernanke and Tim Geithner still on the job.
delete
It would be nice if Graham Summers would omit the spam at the end of his articles,
It would be nice if Reggie Middleton would omit the spam sprinkled throughout his articles,
Maybe Bruce Krasting or George Washington can be used as models for contributor articles.
Thank you.
USD at 80? Yeah, and maybe Krugman will renounce Keynes and begin campaigning for Ron Paul. Either is possible and about equally likely.
whats the gimmick with the $350 gold?
whats the gimmick with the $350 gold?
The gimmick is that you have to open your own "Cash For Gold" store or pawn shop.
Then you can purchase scrap gold from desperate suckers for $350/oz.
One way to buy $350 gold is to find a gold mining company that is valued based on $350/oz gold.
Yeah, as far as I remember, all that is is a rec to buy the junior miner's ETF.
A lot of his survival kit is sound, but should have been implemented like, 6 years ago. Nothing new, you already know what he's going to say, believe me.