BPGDM (gold stocks bullish %) is marching steadily lower. Is there one more dunk to go before the all clear? BPSPX (S&P 500 bullish %) is quite peppy. I suppose it could rise further with Goldilocks to the limits of 2009, 2010 and 2011. But risk is not good in the broads my friends.
http://www.biiwii.blogspot.com
http://www.biiwii.com
http://www.biiwii.blogspot.com
http://www.biiwii.com
If you expect $BPGDM to go to 5% or less, why own any miners at all right now?
ReplyDeleteWhy can't $BPGDM draw a higher low? Especially considering how oversold GDX is?
And as for $BPSPX - yeah, that Feb top last year was helpful. $SPX didn't drop til July, and that was only because of fear of financial risk.
Not a timing tool my man. But a 'risk' tool none the less. As for the miners, you know my discipline is to always be in a bull market as long as I consider it such. I'll risk manage all around certain core positions. I am very light the miners now, at least by my normal modus.
ReplyDeleteOh and one more thing John. I am the parameters guy. You saw the parameters in the update that went out a little while ago? I don't believe in grand calls. The parameters noted will tell me what to do soon enough. How's that for mechanical? (read your post on B.I.G. and humans vs. machines and such ;-))
ReplyDelete