Hi everyone!
At the time I am writing this article, it is Thursday, June 22, 2017 at 6:58 AM west coast time United States.
Right now the stock market is just about at the flat line, with the Dow Jones industrial average up only nine points, but the real action is in the bond market with the 10 year yield now dropping to 2.14.
The US dollar is also showing signs of weakness, and what this means to me is in the short term, there is potential for the stock market to fall under some pressure. Now, if we do experience a pullback over the next several trading days, I believe this will present us with a buying opportunity as I expect stocks to continue to run higher.
Crude oil is playing a major role with regard to the price action of equities, and although crude is up .68% as I am writing this article, crude needs to move higher to support higher stock prices.
This morning I pulled profits from the last three positions which I had posted on my website TradersChoice.net these were tickers SPY, QQQ, and FB. (I will post new positions soon) click here: https://www.traderschoice.net/money-page--stock-picks.html
While it is certainly possible that the market does not pull back over the next several trading days, I felt it was prudent to pull profits at this time and just watch the market action again over the next few trading days.
In summary: exercise caution and look for a possible pull back with regard to the equities market over the next several trading days as the 10 year yield and the US dollar are falling under some pressure.
Gregory Mannarino
im only buying crypto
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Love the crytos but never stop stacking physical precious metals.
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will never stop stacking silver everything is better than dollars
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I second that :)
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Crypto has netted me 500% in the past few months, stocks around 15%. Which is the better investment right now? I trade stocks with my 401K since my company has me locked in it. Gregs stock picks has helped me grow the 401K. Thank you Greg!
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Thank you Greg
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why is anyone still playing with central banks systems anyway? we don´t need them anymore :)
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We're Fed up!
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Another awesome post - Keep it up!
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I got completely out of the stock market. My wife cashed out her 401k last year and took the tax hit. Paid off our mortgage. We have most of our money in physical precious metals but recently got into cryptocurrencies. Our crypto investment is up 40% in less than a month.
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We did the same. I had savings bonds, IRAs, 529s, stocks, employee shares, savings, TSP, 401ks, 457s, and then we got married and now have kids. I'm 32. We drive 13 year old cars (paid for, insured $10/mo), paid off our home. Bought defense, food, supplies and homeschool stuff. And PMs. Then I got my hooks in some crypto. We keep less than a paycheck in any bank ever. I feel more freedom now than at any other point since turning 18.
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what type of crypto-currencies did both you and your wife invest?
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Pounce on the prey! Thanks Greg! :D
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Not looking good! Buying some Ripple, even though its centralized that could be the opportunity!
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Great post. I had a feeling now would be a good time to pull the trigger, although I only have 2 stocks...lol
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by the look of it this guy knows what he talking about, sadly all I have is pennies. can't invest in anything :(
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Thanks again Greg, I really enjoyed this post. I follow you and more importantly I trust you! I be stackin, thanks to you and I look forward to your being proven right regarding metals especially silver.
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90% of my profits goes into Silver... 10% into Crypto as pure speculation.
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Other than what ever my acorns account is doing I got out of the market and 100% into crypto.
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WOW AND THANK YOU GREG FOR ANOTHER AWESOME POST
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So, and please correct me if I'm wrong, the mortgage interest rates follow or move with, so to speak, the bond yields correct(10 yr.)? With the rate hikes, even though not much, the mortgage rates have increased a bit this year. Will the rates now begin to come back down a bit or am I off here? Some one do tell............
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There's another real estate bubble about to pop. Commercial real estate is in bad shape because of all the stores closing. I wouldn't invest in real estate. I'd get out. If I was looking to get a mortgage I'd make sure it was a fixed rate mortgage. I think rates are going up with the Fed rate hikes.
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Fixed rate would be the only way to go IMO. Yeah, Commercial been in bad shape for some time now. I was just curious as to residential as I thought I learned that the rates followed along with the bond yields ups or downs? This may be wrong? I know the fed rate hikes effect them and have been as they've slowly raised them this year but with fed rate hikes verses bond yield decline I just wondered which would be more magnetic to mortgage rates? More than likely the fed rate hikes right? Thanks for the reply. Much appreciated!
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Nice post in the Art Challenge!
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Hey, thanks brother! Much appreciated! You post? If so, I'll have to go check it out.
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Not done one yet.
Gonna have a think about it tonight....surrealism art can be tricky! (Sorry I know off topic here!!)
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No worries! It'll come to you.
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Good Knowledge Delivery it seems to look your blog for more knowledge (y) ...
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Treasuries are moving higher in price once again. More yield curve flattening.
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Not a day trader like you, but I definitely find value in your market analysis every day! Thank you.
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Wise decision Greg!
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Thanx for the info!!!! :-)
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I agree with you on Oil needs to go higher but the powers that be need to cause some event to push oil higher. Waiting for the event. Still Like Silver. Thanks for your daily blog.
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Hi Gregory,
Started selling QQQ and SPY off on Monday.
23% profit combined :)
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What about gold stocks? they have done nothing this year no profits to pull
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Bitcoin is preparing for another breakout, 3350.
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I've been heavy in the game with crypto, gold, and silver. I honestly don't care about the market (just like Greg teaches us).
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thank you for sharing
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Thanks Greg. We'll keep an eye on it.
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I too like the cryptos and am waiting for this market to finally give into the pressure of a collapse which is long overdue.
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Good post! I upvoted&followed you, @marketreport :D
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Thanks for looking after us Greg. :)
How much of your assets would you recommend putting into Bitcoin? Less than 5%?
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Great Post - Greg
Please check out - steemits new Silver and Gold community on #steemsilvergold
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I dont trade the stockmarkets but allways interesting to hear about it and grats on making a nice profit :)
Its unique how you tip your lions and lionesses on good trades, For free. :)
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Thanks for the info Greg.
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Thanks for the post Greg.
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good report
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What about pulling principal and reinvesting only profits? What day you Lion?
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Volatility is soo low. It feels like tech stocks are defensive plays which doesn't make sense as they are showing real growth!
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We will watch for a pull back as you say and be prudent. Thanks for the faithful info Greg.
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Thanks for the information
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Finally after 7 weeks Steemit has approved me. Don't know what took so long. Now I can read your stuff along with watching on youtube.
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Thank you again as always good advice keep it up
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Thanks Greg for keeping it real.
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I definitely agree with the idea of picking up the pullbacks. I think that the market is a bit overextended right now and due for a decent correction, but until that happens it can definitely be profitable to ride the wave so to speak. Simply get good entry levels with low risk and high reward based off the structure, so that if/when the real downturn happens you'll be protected and only risk a nominal amount. Then you go short, and ride the crash.
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Thanks greg, holding my silver but winning in cryptoland.
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Thanks for sharing)
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Naiec
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Always watching you Greg, here and on youtube. Love your advice and take on the markets, gold, silver and the crypto's which by the way I am making a killing mining them. You can check out my mining rig set ups here:
Check out my blogs here:
https://steemit.com/ethereum/@vegasbitcoin/are-you-making-over-usd100k-dollars-a-year-mining-crypto-s
and here:
https://steemit.com/ethereum/@vegasbitcoin/13-6gpu-ethereum-mining-rigs-set-up-pictures-overall-costs-and-apps-that-i-am-using
Keep up the good work that you do and continued success for all of us that are going thru the next greatest wealth transfer ever in the history of mankind.
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As always great content! Thank you for taking the time to help others.
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