Again, I know that I was early and I am not denying that. I became bearish the S&P on Dec 8th at 2246. and yes this has gone against me for 1.5 months.
Where has it gone? No where is the answer, but don’t tell anyone that. Look below at my calls since then.
TLT – +1.7%
GLD – +2.56% ( I was early on Gold and did not hit the low)
GDX – +20%+
SPX – -1.06%
The Yen Carry Trade is over and the market itself is the last to roll over. I should have done better and I should have known better that after EVERYONE missed the move they will be buying it “hoping for higher” over the next month. Look at the SPX below.
After everyone misses the move they spend time buying it at the highs before the real buy point lower. Look at the last 3 REAL BUYING OPPORTUNITIES. They all come after people chased the highs.
Patient grasshoppers, the market will come to you.
And honestly I don’t know if my two circles are deep enough for this time around.