As we head into the end of what has been a wild 2017, here is a look at what Jesse Livermore had to say along with the major long-term buy signal that are now flashing.
December 20 (King World News) – The following email came from one of the global KWN readers (Kevin W.): Below are rolling (spot month) quarterly charts with 20 quarter moving averages in red. Gold is leading the way, trading above this important moving average with giant XAU mining share proxy not far behind.
Quarterly MACD all positive and here XAU leading the way with its 4th consecutive positive reading (see chart below).
XAU (Gold & Silver Stock Index) MACD Buy Signal, Look For Solid Break Above (red) 20 Quarterly Moving Average
I remember the inverted H&S pattern that was executed to the upside in Q4 2009 when gold moved swiftly through $1,000. It was a beautiful pattern that exhausted many a long in its formation. No coincidence that the decline in gold from years 2011-2015 stopped at the old breakout point of $1,000 (see chart below).
Gold Quarterly MACD Signaling A Buy For The First Time In Many Years! Look For Solid Break Above (red) 20 Quarterly Moving Average!
Similar inverted H&S patterns exist today in gold, silver and the mining shares but with greater depth of time (see silver chart below).
Silver Quarterly MACD Signaling A Buy For The First Time In Many Years! Look For Solid Break Above (red) 20 Quarterly Moving Average!
Nothing is more reliable and moves more pervasively than a breakout from an inverted head & shoulders pattern, but few have the patience to stay with their longs while enduring such a trend changing formation…
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Jesse Livermore had this to say about such moments…
“After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: it never was my thinking that made the big money for me. It was always my sitting. Got that? My sitting tight!
It is no trick at all to be right on the market. I’ve known many [traders] who were right at exactly the right time, and began buying or selling stocks when prices were at the very level that should show the greatest profit. And their experience invariably matched mine; that is, they made no real money out of it. [Traders] who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make the big money.” — Jesse Livermore
Also of importance…
A portion of today’s note from legend Art Cashin: A Needed Seasonal Note – As we all hopefully recall, young Virginia O’Hanlon wrote to the New York Sun in 1897 to inquire if there really was a Santa Claus. Herewith – the letter and response.
DEAR EDITOR: I am 8 years old. Some of my little friends say there is no Santa Claus. Papa says, ‘If you see it in THE SUN it’s so.’ Please tell me the truth; is there a Santa Claus?
VIRGINIA O’HANLON.
115 WEST NINETY-FIFTH STREET
Editor’s response: VIRGINIA, your little friends are wrong. They have been affected by the skepticism of a skeptical age. They do not believe except [what] they see. They think that nothing can be which is not comprehensible by their little minds. All minds, Virginia, whether they be men’s or children’s, are little. In this great universe of ours man is a mere insect, an ant, in his intellect, as compared with the boundless world about him, as measured by the intelligence capable of grasping the whole of truth and knowledge.
Yes, VIRGINIA, there is a Santa Claus. He exists as certainly as love and generosity and devotion exist, and you know that they abound and give to your life its highest beauty and joy. Alas! how dreary would be the world if there were no Santa Claus. It would be as dreary as if there were no VIRGINIAS. There would be no childlike faith then, no poetry, no romance to make tolerable this existence. We should have no enjoyment, except in sense and sight. The eternal light with which childhood fills the world would be extinguished.
Not believe in Santa Claus! You might as well not believe in fairies! You might get your papa to hire men to watch in all the chimneys on Christmas Eve to catch Santa Claus, but even if they did not see Santa Claus coming down, what would that prove? Nobody sees Santa Claus, but that is no sign that there is no Santa
Claus. The most real things in the world are those that neither children nor men can see. Did you ever see fairies dancing on the lawn? Of course not, but that’s no proof that they are not there. Nobody can conceive or imagine all the wonders there are unseen and unseeable in the world.
You may tear apart the baby’s rattle and see what makes the noise inside, but there is a veil covering the unseen world which not the strongest man, nor even the united strength of all the strongest men that ever lived, could tear apart. Only faith, fancy, poetry, love, romance, can push aside that curtain and view and picture the supernal beauty and glory beyond. Is it all real? Ah, VIRGINIA, in all this world there is nothing else real and abiding.
No Santa Claus! Thank God! he lives, and he lives forever. A thousand years from now, Virginia, nay, ten times ten thousand years from now, he will continue to make glad the heart of childhood.
***KWN has just released “the most important in over a decade” top trends for 2018 with Gerald Celente and you can listen to to the remarkable audio interview by CLICKING HERE OR ON THE IMAGE BELOW.
***ALSO JUST RELEASED: Sign Of The Times CLICK HERE.
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