Originally posted on 03/14/2021:
So I put in a line from the low in the Oct time frame and ran it up to the recent low. It pretty much follows the 20 WMA. I also said last week that the 20 WMA hasn't been broken yet so the trend is your friend until you find your friend banging the trend on your own couch. I still think that is just a matter of time before it has a break down and the reason it hasn't already is how high above the 20WMA this index was in the recent past. I see interest yields on the rise and rotation out of everything tech.
With out a doubt I can be wrong as well and it happens more than I like to admit. Shyt, remember I'm the one with gold chunks stacked up past my ass just waiting for that to run for the last 6 months now. I keep buying more too every time it goes down another $100. If I was smart, I would have been in Bitcoin six months ago and maybe now starting to get out and buy gold.
I really only keep gold and gold miners on the portfolio because I do most of my work for miners and knowledge of the fact that gold will never be worth zero. Also keep in mind most of my gains during the year will be from daily scalps that I make. I'm much better at looking at the tape during the day and figuring out where to either short or go long for the day before getting out before the bell. Once I start looking out more than a month or so, things start to get more speculative so your assessment is certainly as good or better than mine.