Chapters
00:00 Intro: Have Gold and Oil Peaked?
01:01 Nick: Trimming the Miners
03:06 Nick: Gold's Monthly and the GLD
05:39 Ben: The Fed Week We've Been Waiting For
07:10 GP: Gold's Double Top and $3,000
12:15 GP: 2020 Wasn't Easy
15:52 Ben: The DIX Dark Pool Index
17:26 GP: The Best House on the Worst Block
21:01 GP: Gold and Oil Go Sideways
22:35 Nick: Still Bullish on Gold
24:05 Nick: Four Tests of the SPY Lows
26:40 The Solars
31:26 GP: Home Depot's Setup
34:27 Car, Avis and Short Squeezes
35:28 Target, Roku and Square
42:10 Ben: Walmart Over Target
43:43 Amazon's Split Date
46:50 Ben: The VIX Contract Rollover
49:59 GP: The VIX's 32 to 35 Zone
55:42 GP: Why There's No Capitulation
57:15 Nick: The Longer This Goes, the More Bullish
58:48 Sell Rules and Long-Term Holding
1:07:34 GP: Volatility Events Are Warning Shots
1:09:05 Wrap-Up
Market Hours #14 went out live on Sunday, March 13, with Ben, Nick and GP ahead of Fed week. Nick explained trimming his miners as gold pushed toward 200, while GP expects gold to chop for three to five months before an eventual run to $3,000. GP called the equity setup as constructive as it gets after nine weeks of failed breakdowns. The three also covered the DIX, Europe's outflows, the solars, Home Depot, Target, Roku, Walmart vs Amazon, the VIX's 32 to 35 zone, hedging, sell rules and warning shots.
Nick's setups, levels and trades
Nick said "i still have about half my half my miners on but i mean i sold a lot," since gold "didn't really have the you know we didn't really have the umph to to head higher." It was "a nice move like 160 up to up to you know almost 200 bucks," so "i feel a little over extended." For the GLD, "as long as it holds above like this 178 179 180 it's a nice range that it could kind of like really just cup and handle," with "one 183 level to kind of play against." "It's an ugly weekly candle," but "i think the 180 to 190 would be a great range," and he stays bullish on gold because "the macd is just curling through." On the SPY, "that's four tests now," and "420 is holding right now." "The longer this goes on the more bullish i get because i mean we need this kind of action to set charts up." Even as a long-term investor, you still need sell rules.
Ben's setups, levels and trades
Ben said "this is kind of the week we've been waiting for for months," with Powell "in favor of you know at least a quarter point hike," and "we can expect you know some shake and bake on tuesday and wednesday." On the DIX, "i just find it completely fascinating that so many there are buyers of the s p 500," and "43 tends to be like a neutral slash bullish area." "I'd rather be in walmart than target," and "walmart actually looks better than amazon okay never thought i'd say that." He pointed to Cookie_M's read on the VIX contract rollover.
GP's setups, levels and trades
GP said gold "pulled out of the the standard deviation in order to tag the monthly," and "into april we see another attempt at this kind of breakout." "It could just stay between this range for the next three to five months," and then "you start to get your move to eventually 3 000 an ounce," or "280 to 300 third 300 on gld." "Everyone talks about how easy 2020 was it was not easy." The U.S. is "just one of the better ones on the block," with "historical equity outflows out of europe." "Until you see a breakdown of epic proportions this is as constructive and as bullish in my mind as you can" get. "While equities recover gold and oil and commodities and all that stuff goes sideways." On Home Depot, "it's bottomed out on the monthly mid mid bollinger band," and "if we reclaim the 344 level 345 level i think this sets up for a fairly decent trade going into may june." The VIX futures' "32 to like 35 has been an area," and "we haven't broken higher with the amount of things that have been already thrown at us is is a suggestion to me that we're going to go lower." "People have been hedging for ever and ever already," so on low moves they cover their hedges, "they're not shorting more." Still, "all these volatility events that you're seeing is warning shots."
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