5 Responses

  1. Power Corrupts February 13, 2017 / 4:47 pm

    Looks like a great place to reenter during this consolidation. Sitting right on a couple different support lines. Could work out nice, GL!

  2. BobR February 13, 2017 / 9:14 pm

    Hi Kong – would love your thoughts on the SPX and US stock markets in general – they seem to running on extremely thin air but keep going up almost on a daily basis. With all the uncertainty in global economics, I am wondering why the markets are not pricing in any high risk event yet.

    • Forex Kong February 13, 2017 / 9:22 pm

      In my experience this is generally what happens at the top….as institutions have spent the past year selling to retail investors.

      Retail “blows off the top” and without any further institutional buying ( as these guys are always ahead… positioning in gold…as well “short” risk ) suddenly……the bottom drops out of it….down -280 days 3 days in a row…and the vast majority of people get trapped long…then sell at a loss.

      I would be banking any AND ALL profits in U.S equities here.

      This thing is on it’s last breath.

      • Joshua February 16, 2017 / 2:59 am

        What is currently taking place in the US indexes is insanity. On your NUGT trade what are you targeting? 15.50-16.50 looks good for a tgt area. This 12-13 area is providing some resistance, but the ret off this level seems minor so far. Overall, the trade looks solid, but I’d be reluctant to hold on a deeper ret.

        • Forex Kong February 16, 2017 / 5:24 am

          15 would make for a fantastic trade – yes

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