Is this the beginning of a correction in the stock market or is it falling apart?
Taking a quick look at the one month chart on the Dow Jones industrial average should at least raise some eyebrows on how fragile this market is today.
I noticed something that is changed regarding news and headlines in the mainstream media. Previously, no matter how much bad news came out, the market would still creep up.
Lately, all of the good news has had no effect on raising the market even if you believe the mainstream narrative on unemployment numbers and consumer sentiment.
I'm no expert in the stock market but I believe that the big players have been slowly unloading their stocks to new and late cash coming into the market. (FOMO), we have all seen this before!
I'm not qualified to give advice so I can only tell you what I'm doing in light of this new peculiar change of events.
Since the beginning of the year I have been taking money off the table and purchasing physical gold and silver while at the same time doubling down on my gold and silver miners.
The strategy worked out really well this week as I was able to purchase some crypto's that were severely beaten down and already bouncing back with a vengeance!
I've been really impressed with the strength behind Steem! One of the best parts about blogging on Steemit is knowing that you're investment always keeps growing and when the price goes down you are able to gobble up more steempower.
The great part about steemit is If you feel like taking a break from posting, you can still earn rewards just by upvoting and commenting on your favorite blogs.
If you follow @penguinpablo and his steem stats reports you will see we still have excellent growth and a lot more active users!
So my best advice would be to keep on steeming and spreading the word about steem!
I'm seeing oppurtunity where others see failure
I hear you on that, we just stay the course!
oops wrong account! lol
Keep on stacking and pouring!
Just because the market is bullish and constantly breaking records, doesn’t mean it’s immune from being bearishly corrected and deflated. Remember… what goes up, MUST come down! It's only a matter of time...
Yup it is just a matter of time,its been a long time for sure!
Good read! I agree with your assessment of big buyers coming in late and the market not responding to news. My play is bonds instead of gold : )
I agree with the assessments. This correction is healthy and long overdue. Look for the DOW hit demand at 24500-24800, before a continuation higher. If it gets through 24500, we could see the DOW go down to 22,000.
The assessment of the big money unloading at the top has been going on during this distribution phase of the stawk market. Selling a bubble and rotating the profits into PM in never a bad idea. But if, a big if, the stawk markets are going down, I believe people will sell liquid assets, such as PM, to fund margin calls, as the public is all in on this melt-up. The uneducated public always loses. Good article.
Nice comment @rollingthunder, I agree with you If everybody starts getting margin calls the metals should take a hit for a while, but hopefully the downside risk isn't that bad at these levels.
The dow jones fell 666 points. A somewhat ominous signal don't you think?
On the 33rd day of month market falls 666 points
Next trading day falls 1179 points aka 33rd biggest percentage fall to date ever and market had been up 33% between trumps first day in Office and day before 666 drop. Three 33s and a 666
Hmmm
And siver was 16,666 for a while also!
Most likely just a correction
Plunge protection team will just pump it up agian . we will see.
Truth!
Nice Post, Im Agree and Not-Agree with you :)
The part you said you can earn money with commenting i should tell you that its about two or three weaks that i read articles in steemit carefully and write a good comment, but nobody use Upvote, They Even answer so long, but no upvote :)), its so strange, but anyway it will not make me feel sad, all of us should keep it up!
Its only polite to upvote people with nice comments,thanks for the comment!
Thanks,Yes this is Up to the Personallity of the User, That he like it or not!
thanks for best information!
What are your gold and silver miners?
First mining finance(ffgmf) K92 (kntnf),First Majestic Silver Corp. (AG)