The following video provides technical analysis of the stock market via $SPX, $NDX, & $RUT, $VIX, $CPCE, as well as gold, & the gold mining stocks (in that order). Silver or Gold level access initially required.
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Stock Market & Gold Analysis 11-30-20
2020-11-30T12:53:38-05:00Nov 30, 2020 12:53pm|Categories: Equity Market Analysis, Forex (Currencies), Gold & Commodities, Subscriber-only Content|Tags: $CPC, $CPCE, $EUR/USD, $EURO, $GOLD, $NDX, $RUT, $SPX, $USD, $VIX, /ES, /GC, /NQ, /RTY, AAPL, AMZN, FB, FXE, GLD, GOOG, IWM, MSFT, NVDA, QQQ, SPY, TSLA, UUP|26 Comments
Maybe final pop up in market when vaccine gets fda approval?
Possibly but post-vaccine approval pop or not, we’ll let the charts tell us when it’s time to close out index longs and/or go short.
further stimulas plan could help sooth the VIX i guess, if it happens
With the massive amount of stimulus already doled out so far this year, I’d be willing to bet that the stock market & any further stimulus will be a negative feedback loop: If the market continues to rise or even hold up, lower chance of stimulus. The market falls substantially, increased chance of more stimulus. I think at best, we’re looking at a mostly flattish return for the stock market in 2021 but if the charts & fundamentals start to indicate otherwise, then my outlook will change.
Can you take another look at Bitcoin?
I don’t have much of a read on where Bitcoin goes from here. When a security is trading at all-time highs that is typically bullish & there aren’t any overhead resistance levels to target. I also don’t like the recent price action on Bitcoin as it seems a bit unnatural or manipulated. Both /BRR (Bitcoin futures) and GBTC (Bitcoin Trust, an ETF-like instrument that tracks Bitcoin) made very clear & impulsive breakdowns below very well-defined uptrend lines on the daily charts on Friday. One could chalk that up to the Thanksgiving-week whipsaw signals that I warned about but that sure… Read more »
Hi Randy,
If market starts correcting do you think the stay at home stocks will go down harder (such as Zoom)?
I think that would largely depend on what the widely-held consensus on WHY the market is correcting is. E.g.- If the market were to fall on a shift in the vaccine news flow from positive to negative, then the COVID stocks would likely lead the way down.
What I got from the video: Buy every dip.
I guess any Dip can make money in stocks! LOL
In the stock market, that is the current M.O. until we get some decent sell signals. For gold & the miners, I would buy both the dips as well as the rips if scaling back into long-term positions.
Shoe shine boys are buying EV stocks and battery maker QS IPO’d Friday (1/2 day) and is almost fish in the barrel up today will the first full session. I didn’t get in on it because I am out of nerve and shoe polish.
Sounds like its time to buy stock in shoe shine polish.
Hey Randy, glad your feeling better and back in action at full force. Congrats on the new house. Looking forward to some great stock action with the new year.
Thx. I’ve been going through various watch-lists of individual gold & silver mining stocks today to put together a short-list of some of the most promising swing/trend candidates. I’m also going to spend some time looking for some sectors & individual stocks that are setting up bullish or bearish with attractive R/R’s although that’s getting increasingly difficult recently as a lot of the 2nd & 3rd tier stocks have been bid up by speculators recently so bullish trends yet poor R/R for going long & no sell signals yet on most.
I envy those shoe-shine boys. I have friends who just started trading this year and have more than doubled their accounts while I’m down 50% on the year, and down more than 90% over the last five years of full-time trading and studying the markets.
Can confirm that. Traded shoeshine boy stock $PLTR for 60% gain within a week. I can see how those kinds of stocks can double and triple someone’s account, given they got in early enough on a tip from CNBC. I don’t think there is anything wrong with joining the crowd, as long as those funny stocks go up.
Nothing wrong with joining in on the dash-for-trash as long as the music is still playing. You just don’t want to be the only one left standing (bag holder) once the music stops. What the shoeshine boys will do is continue to buy the dips once the tide has changed, buying lower & lower, adding more & more dry powder to their positions as their confidence is sky-high. Dip-buying works until it doesn’t & most will have given back most or all of their profits by the time it finally becomes clear to all that the party has clearly ended.… Read more »
I wonder if there is particularly good shoe shine boy that has a subscription service.
PLG weekly. Too early to say for sure if it’s gonna run, but big volumes coming in. Still around resistance, but if it pops, the move will be swift IMO. @rsotc are you watching this one?
My notification popped on this stock as well.
Looks like it’s getting checked at that $2.75 level. Overbought. May need to pull back to revisit this level in less overbought conditions.
PLG has gone from 40 to 3 in the last 5 years! I have yet to find a worse train wreck in the Universe of Investing! Tesla has gone up 12x in that time! What is wrong with PLG that even the charts can’t fix? Anyone?
No no, that’s not for long term hold or investing. That’s for swing trade or perhaps momentum trade, holding period of a couple of days to weeks. Sometimes these things run triple digit percent within days. See $DPW, $SUP. Also $CHS (Chico Fas) highlighted by Randy went from $13 to $1 within a few years. It’s obvious that $PLG has issues, and I think last time I checked, they had a lot of debt, but sometimes some positive news for the company send the stock higher and those thinly traded levels above head, are getting filled giving potential to double… Read more »
Based on the company’s name as well as the chart, it looks like PLG tracks platinum prices. Here’s my PPLT (platinum ETF) weekly chart with some overhead resistance levels/potential targets that you can help align a trade on PLG with. Thx for pointing it out.
Hey does anyone know how I can get the $CPCE chart? I cant seem to find it anywhere.