Stocks And Precious Metals Charts - Making Stocks Great Again

"They have record kinds of numbers. So I think it's a tremendous opportunity to buy. Really a great opportunity to buy."

D. J. Trump, 25 December 2018

As soon as Trump said the above on Christmas Day, I was fairly certain that my theory of why Treasury Secretary Mnuchin was calling the banks was correct.

The word came back to Trumpolini that the fix was in, and he could not resist making a statement to show what a great stock market trend caller he is.

Mnuchin did not need to know how the Banks were doing with regard to liquidity. And he certainly didn't need to announce the calls to the Banks to the public. He was getting them in line, and giving the wiseguys a heads up so they would not get in the way.

It was like erecting three billboards proclaiming the desire to 'Make Stocks Great Again.'

And so we saw the rescue of the stock markets today, in the first real, concerted attempt by government and business to pump that bubble back up. 

And it worked fairly well. And those who had faith in the bubble were rewarded.

And another check has been paid to moral hazard.

I was only a little surprised that they did not put their minds to this sooner in the decline. Perhaps they needed for the oversold condition to work itself into place, and get a clear path for the ramp higher in the busy holiday schedule.

I have marked the Fibonacci retracement levels on the charts. I may have to tinker with them a bit. The problem is where to mark the beginning of the decline.

Gold and silver were higher most of the day, with silver hanging on but gold gave up its safe haven gains.

Have a pleasant evening.

(Click on image to enlarge)

(Click on image to enlarge)

(Click on image to enlarge)

(Click on image to enlarge)

(Click on image to enlarge)

(Click on image to enlarge)

(Click on image to enlarge)

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.


Leave a comment to automatically be entered into our contest to win a free Echo Show.