BITCOIN: Three days ago at 6625 we wrote "no MOJO" now at 6300 what are we seeing!! And the Dow: can it recover? A crash but maybe not THE crash..Statman comments.

Good afternoon my friends. Just three days past we wrote "why Bitcoin (BTC) has no MOJO. In other words I did not see the energy (SENTIMENT) to move it above resistance about 6750. Instead we felt likely to see 6200 again and stay in this seemingly forever range. If anything we risk going lower.

SENTIMENT is still 78-28 bulls to bears. NOT GOOD! IN January our sell at 15000 showed 83-17. April's low was more like 60-40. In fact, the last time we visited close to 6000 (August) we were briefly at about 65-35. The problem is every time we mount a rally in come the specs acting as if 20,00 is just around the corner. We can't build that wall of worry. When will the complacency end??

So again, let's monitor it. we can edge closer to 6700 again or stall. My question to you and I welcome responses is where do you see BTC two years out? And STEEM! I am a cheerleader of sorts as my business has been the traditional markets for a long time. I have called almost every move in BTC on the nose since January, but sincerely do not have the handle on this market long term I do in gold/silver and the equities. I'm listening.

Let's look at the S and P index SPX. Currently at 2750 we fell from almost 2950 in just a few days. The dow has fallen from 26, 996 to now about 25,000. We six days ago wrote CAUTION (at THE top). We have sold several weeks back at 26,500.

The charts below and sentiment (very negative at the top) tell it all. This inflated ponzi scheme of a market had to break.
Truth is we wrote it may bell go to 28,000 (dow) but I don't want the risk at all here.

Currently Put call ratio's are bullish. They were pretty decent after the first 800 point decline. I'm out. Buy the metals. Whether we rally back all the way or not you will see Dow 20,000 before this is all over. My confidence is gold and silver go to new highs over the next three years. The Dow long term (S and P) is in trouble. See the charts below.

We have heard for years about the debt and we keep kicking the can down the road. No more. the contagion is world wide and China and Russia and others are preparing for a crisis with GOLD and SILVER.

Thanks for your support and please do YOUR OWN due diligence!