Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
Ever since the inland hurricane, the ‘Derecho’ of August 10th, it’s never been the same for corn.Now, it’s going vertical.
The entire U.S. agricultural food supply infrastructure is being systematically dismantled. Control the food, control the population. Simple.
It seems the ‘preppers’ tend to focus on stockpiling silver and gold.
If your’re getting ready for what’s coming, from a historical perspective, that’s not the place to start.
Going way back …. thousands of years, during the famine in Egypt of Joseph’s time, we have this:
“And Joseph gathered corn as the sand of the sea, very much, until he left numbering; for it was without number”
“And the famine was over all the face of the Earth: and Joseph opened all the storehouses and sold unto the Egyptians: and the famine waxed sore in the land of Egypt.”
“And all countries came unto Joseph for to buy corn; because that the famine was so sore in all lands.”
Gen 41: Vs. 49, 56, 57, KJV
They paid for the corn first, with gold and silver. Then they paid with their livestock. Then they paid by selling themselves into life-long slavery. We can equate that last part (slavery) as getting the vax.
As corn is going vertical, the bond market is signaling its move as well.
Just now, today, TLT is rotating higher.
Yesterday, Steven Van Metre showed a chart (time stamp 10:00) of the speculators beginning to back off their historic short position.
They’ve figured out they’re trapped. Now, they’re trying to sneak out the door without being completely impaled on a sharp bond spike.
The S&P, Dow, NASDAQ, Russell 2000, all appear to be holding near their highs.
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
Markets press on, new highs. However, biotech (IBB) is losing luster.
It could be just a temporary blip on the road upward.
Or, there could be something else afoot not known to the general public … and possibly not even known to professional speculators and market traders.
The video link below is to an alternate (independent) platform. One among many popping up in response to ‘adjustments’ being made by YouTube.
The video at this link is nearly an hour long. It’s one of those things that upon viewing the entire presentation, one can never be the same.
Viewer beware. For those with short attentions, fast forward to Time Stamp 22:50, for the meat.
Wyckoff stated a century ago ‘the reason for a move is always revealed after the fact’; we might find if IBB reverses from here and does not look back, the link above may ultimately become the ‘reason’ for such a move.
Imagine if this presentation becomes widespread knowledge … where will biotech be then?
Of course, price action is always the final arbiter. Positions (and stops) remain unchanged.
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
It’s hard to describe how stretched the market really is; how ‘the euphoria is so maximized’, as quoted by David Quintieri of the Money GPS.
His latest report, delves into published articles that contain one market stretched quote after another.
Perhaps, the most frightening is:”This does not feel like the top”.
You can find that report at this link. The quotes listed above and more, start around the 1:40, time stamp.
In the markets as of this post (2:08 p.m. EST), biotech (IBB) continues to erode throughout the session.
The firm has made one LABD (3X, Inverse) and two BIS (2X, Inverse) entries this session so far. Not advice, not a recommendation.
Note the stop progression on BIS entries.
Positions are below; not advice, not a recommendation:
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
It’s been a while since biotech (IBB) was on the radar.
We’re going to look at the thirty-minute chart of 2X Inverse fund BIS, to show the change in character.
The first two oval areas after each up move in BIS (IBB down), was fully retraced. Not only that, the retrace occurred on the same day.
Not so with the last oval, today.
BIS has a changed character. The thirty-minute bar was not retraced; telling us we’re at the danger point where the risk is least.
Both the weekly and daily MACD indicators show momentum has shifted; stalled (on weekly) and has turned lower on the daily.
As far as shorting the biotech sector, any takers? It’s not like the other crowded trades; Dow, NASDAQ, S&P, and on.
As this post is being written BIS is edging back slightly to the entry point @ BIS, 22.23.
In so doing, there may be an hourly trend line forming. If that happens, updates will be forthcoming.
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
Inverse Oil ETF, DUG volume went off the scale today; the highest in at least four years.
The short-squeeze top in the sector, using XOP as the proxy was identified before today’s open in this report.
At that time, there was nothing significant about either XOP, or the inverse DUG other than being at opposite price extremes.
Today’s action changed that view.
Apparently the juncture was significant enough; Today’s transaction volume in DUG, amounted to approximately $23-million.
That’s a huge number. Typical action is around $4-million.
Oil is inversely related to the dollar at this point. The dollar proxy, UUP reached a new trend low last week but seems to have found support the past three sessions.
Being short the oil and gas sector via DUG (not advice, not a recommendation) is essentially a leveraged bet on a dollar rally.
In other markets, after weeks of analysis and planning, biotech had its reversal but we’re not in it (on the short side) having exited yesterday.
Not to worry; the massive volume inflow to DUG suggests that we’re on the right track with who (or what) is going to be most vulnerable to a market reversal.
Biotech (IBB) price action may retrace upwards to test. If and when it does, we’ll re-evaluate.
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
Bid/Ask spreads on Biotech (IBB) indicate a lower open.
From last night’s update, this was the expectation if we’re in the early stages of reversal.
Empirical observation over many months shows IBB, tends to move counter-trend for the first 90-minutes of trade … then resumes its original direction.
If that holds true for today (and we’re in a reversal), expect IBB to open lower and then attempt a move higher during the first hour and a half; right up to about 10:30 a.m. to 11:00 a.m. EST.
Note: That’s empirical observation; typical market action for IBB.
However, each day is different and price action itself has the final say.
Both accounts being managed already have significant positions (BIS & LABD) with a BIS stop @ 24.64 and LABD stop @ 27.63 in the market (not advice, not a recommendation).
Following Livermore’s approach (get in big … and do it early) the plan is to monitor price action for another opportunity.
If somehow there’s a higher open for IBB, then we’ll wait for a lower daily low (to increase position) or be stopped out … whichever comes first.
It’s still quiet in the markets. No one expects a major reversal. Retail is all in (although insiders are selling en masse).
There are fundamental reasons why biotech may be about to crack (big time) but those reasons are for another report. Here’s a preview.
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
It did not take long to be proven wrong. DUST positions (in both accounts) have been exited.
Stated before, a 23.6% retrace is a rare event. Looks like that’s holding true as price action for GDX now points to the 38.2% area.
That corresponds to GDX trading to around ~ 38 … a long way to go higher.
Biotech, shown below is just 0.69-pts shy of target with price action (as of 10:34 a.m. EST) coming back to test the early session lows.
It’s traders discretion (not advice, not a recommendation) to determine if today is the day IBB finally reverses and confirms the bearish weekly MACD divergence.
At this point, daily action has quickly retraced from the high of 149.31
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
