This is the video recording of our January 4, 2021 Monthly Charts Live Strategy Session
Beer, Cigarettes and Laundry
News Was Poison In 2020. It Will Be Worse In 2021.
Happy Hour With Traders: Hosted by JC Parets and Joe Fahmy – We invited all our friends!
Oh man this was a lot of fun! Fahmy calls me up and says let’s invite everyone to a zoom call and talk about markets and drink Champagne.
Obviously, I said I was in!
We had two questions we were asking,
1) What was the biggest lesson you learned in 2020, and 2) What’s your best trade for the first half of 2021?
Next July, whoever ended up picking the best trade gets a donation from us to the charity of their choice, plus I hand select a bottle of champagne and will be sending it over to the winner.
This was a great conversation with a group of really smart people. I’d be taking some notes on this one. There’s good stuff in here.
Enjoy! [Read more…]
Checking In On The Peanut Gallery
Since June, we’ve seen so many different breadth thrusts in the Large-cap Indexes, Small-cap Indexes and even within specific sectors. They keep showing up.
So when you look back historically, these breadth thrusts tend to come near the beginning of strong uptrends, not near the end of them. Go back in history and you’ll notice how consistent this is.
So today, I thought I’d share some thoughts from the peanut gallery regarding my comments about this being the beginning of a new bull market, and not the end of one.
Enjoy: [Read more…]
[Premium] Details For January Monthly Strategy Session
These are the registration details for our Live Monthly Candlestick Strategy Session for Premium Members of All Star Charts.
This month’s Video Conference Call will be held on Monday January 4th @ 6PM ET. As always, if you cannot make the call live, the video and slides will be archived and published here along with every other live call since 2015.
Here are the details for Tuesday evening: [Read more…]
Gold Breaks To 19-year Lows Relative To Nasdaq Stocks
When assets are in strong uptrends, they tend to not just do well on an absolute basis, but they also outperform their alternatives. In the case of stocks, some good alternatives would be Bonds and Gold. No, not bitcoin.
So with stocks all over the world breaking out to new highs, more and more stocks participating, and even the biggest laggards around the world catching a bid, how are they performing relative to their alternatives?
Well, here is Gold vs the Nasdaq Composite breaking down to new 19-year lows. The trend is strong in this one: [Read more…]
It’s Just A Trade: Letters & Math
I took a few days off over the holidays. I couldn’t tell you the last time I went that long without a chart or a tweet. It felt good.
But you know what felt even better? Getting back to those charts and digging in on what’s been going on around the world. It’s not work for me. I mean it is, technically. But as you probably already figured out, this is something I really enjoy doing.
So what stood out the most upon my return?
I think it’s got to be the victory laps from the bitcoiners on tilt. They’re acting like they’ve never gotten a trade right in their lives. And that’s dangerous.
Sure, we’re happy bitcoin is doing well. It’s already up 35-40% since our latest entry point a few weeks ago. That’s great. And remember, this is after it doubled immediately after our last buy point this summer.
So no complaints here. But we don’t have to make a big deal about it. This is just a trade. It’s not a religion.
The people who are long bitcoin at all times are just as dangerous as stock market permabears. Also See: Are You A Permabear? 12 Questions To Ask Yourself
You can’t have a real conversation with these people. For them, the bitcoin “lifestyle” is more important than making money. They’d rather ride this all the way down to zero than admit that they’re wrong. It’s become theology for them. [Read more…]
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