I guess I just don’t understand. If a market goes up for 29 days and gives half of it back in say, 8-10 days. It’s hard for me to see that being “good.”
If the market goes up for 29 days and gives 100% back regardless of time, I don’t understand why it’s even worth playing, whether it’s bullish or not.
I’m not disputing in any way what you’re saying or the methods, I imagine you’re spot on. Just my personal perspective.
We know how this slop usually goes, this is likely the 2nd of 3 big legs down, and then we’ll see. If we can turn back up here, then I think that would be pretty bullish. If we don’t, the selling will continue and be deeper and longer than we thought it possibly could be, it always is. Especially, God forbid, the SM actually has a correction.
At least right now, the shares are holding up a little better than I would have expected. Maybe the metals will come back some today.
BTW – GLD got above its 200 day, SLV never did. GDX has outperformed and got well above.