Despite All The Talk Of A Stock Market Selloff, New Highs Are More Likely. By Gregory Mannarino

in money •  2 years ago 

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At the time I am writing this article, Comey is testifying before the Senate "Intelligence Committee," (an obvious oxymoron). Although stocks are bouncing around of of every word out of Comey's mouth, stocks appear ready to move higher.

Let's look at several market dynamics which point to stocks rising in the short term.

  1. Cash is moving OUT of bonds.
  2. The "fear gauge" is falling.
  3. Crude oil is stabilizing, (after yesterdays plunge).
  4. The US Dollar is stabilizing.
  5. The Financial Sector is gaining strength.
  6. Comey, so far, has said NOTHING which was not already public knowledge. (No surprises).

What this tells me (at this time) is the stock market appears ready to make yet new all time highs very soon., so let's capitalize on this.

*My summation DOES NOT mean we shouldn't be cautions and not hedge our trades!

Gregory Mannarino
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On the downside you have a ~1 in 8 chance of a Labour win in the UK elections that would hurt the FTSE and probably impact US markets to a smaller extent.

Thanks Greg. You help me keep track of the pulse of what's going on in the financial world so I can make sound decisions with my investments.

Comey testified before the Senate "Intelligence Committee"??? How can that be? It's a known fact theres Not been any intelligence in DC for decades. That's a good one Greg.

Thanks for the update. Interesting times!

Very good information of the current situation of markets.

Yes, I think with your coaching this is looking pretty obvious to us. I moved some things around based on your call to anticipate an oil rise sometime in the near future. When that happens I suspect stocks to rise even faster.

Haha, Oxymoron alright :).
If i've learnt anything from you Greg it's that even if i dont think the fundamentals are right or if i have convinced myself that no matter what , the market is wrong and i am right. I have to trade the market not my opinion.
I will go broke proving to myself that i am right :) .
Thanks Mate. Upvoted and resteemed.

Excellent update @marketreport Brother Greg! Riveting testimony! Could be an interesting day for the market. Have a great day!

OH yes! I'm getting ready! Thanks Greg!

Yup, testifying nothing but hot air...nothing to see here.... move along👉

Good analysis, the whole Comey story is a lot of hot air. Nothing else.

Thank you for information, now you have not only a upvote, you got a follower to.

Greg, Thank you for all the info and updates

Greg there is an army of devoted listeners. Get a paid service going for premium members. Maybe you are already working on that :)

oxymoron----copy that

Trading what you see (charts) and not what you think is one of the hardest aspects of this game...watching this collection of buffoons rant about nothing makes you think the stock market should be crashing and burning...but the charts say otherwise.

It seem nothing can stop stock market, from raising short term. Investors do not give a damn, about former FBI director Comey.

im waiting for a move before taking any positions. I hate trading a flat market.

New highs....... NEW highs! NEW HIGHS! Seems like one day we'll be carrying around bags o'cash to buy a loaf of bread....... no wait...... it'll be a chip beneath the skin that holds the trillions of credits it gonna take to buy that loaf. Man I hope not. Good day all!

Thanks Greg. Great analysis as always.

just keep stacking

Silver is fun for everyone.

Thanks Greg, yes be cautions and hedge.

Calm before the storm perhaps.. the reality is I see more and more news of PHYSICAL players (meaning countries) ramping up their activity military wise.

1 day it's calm.. the next day we all have that full bladder feeling with someone just waiting to scare us.

You can always depend on depends. ;)

I am ready, bring it on!

Most of the stocks are still showing a stable uptrend. I dont see any reason for stock market to go down shortly as well.

1st post on here. Thanks, Greg.

That's right, no market crash in the next few months.

Good post indeed...thanks for sharing..However, dont you think that cryptocurrencies including steemit is the next big thing? Go steemit my freind

steemit is quite limited to the steemit community so it wont be as big as other cryptos.

Good point , that means that we in steem community will benefit from steem till we decide to open it to the world isnt it?

Wonderful info. Always keeping us informed. Greg YOU ROCK!

Might be a good chance to buy a dip in metals soon? jbcoin

I also think will see new highs ahead. I think the manipulation can go on for longer than people think. I've been killing it in China in the last 3 weeks. BABA is popping today. More money to be made ahead!!!

What about the bail in of a Spanish Bank? This market is so rigged. Don't fight the FED I guess? They probably own half of the equity market anyway...

Expectations of tightening may lead to expectations of economic downturn so maybe cash may go back into bonds after the fed raises

Thanx... re-steemed

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We are still waiting for your manufactured global event to deliberately send the price of oil up (not merely stabilize it).

Heya -- I don't know if you were watching AZMN today, but since you're a trader, you might find this interesting: I was watching it happen!

Eventually there will be just one to many straws on the camels back...then it'll all come tumbling off those highs.