David Burrows

Chairman & Chief Investment Officer at Barometer Capital Management-Barometer Manages Tactical, Multi-Asset portfolios for families, and financial advisors

[David Burrows @barometerca]

The correction in #gold and #precious metals have largely run its course...but it also may mean the recent moonshot rally in $QQQ is maturing.

Giant IPOs can often mark near term highs.

Have a plan.

[David Burrows @barometerca]

@eifers1 it is what has to happen to clean out the corrective period.

[David Burrows @barometerca]

Now getting close.

In each of the two great bull markets in #preciousmetals, the first major correction was down approximately 35%, lasted about 140 trading days and retested the original low. (one slight undercut).

This should ultimately serve to clear the table for the next leg higher.
$GDX $GDXJ $SGDM $SGDJ $GLD

[David Burrows @barometerca]

@TheGreatRedDane @finding_finance on the chart...128 days since we began

[David Burrows @barometerca]

@dividendgrowth1 Have a look at what gold did when tech rolled over in 2000...

[David Burrows @barometerca]

Coming to an important inflection point.

The runup in #Nasdaq100 maybe at an exhaustion point.

Either way, we will know soon.

#GOLD vs. $QQQ

[David Burrows @barometerca]

Have a look at what gold did when tech rolled over in 2000...

[David Burrows @barometerca]

@kropija See my other posts

[David Burrows @barometerca]

Let's be careful out there. Outside weekly reversal.

The tech trade has been extremely gappy, is very crowded and lots of leverage has been deployed.

As I have been saying, weak breadth conditions into a cluster of mega IPOs can set up the possibility of a quick selloff.

Understand your risk budget and have discipline around your selling strategy. It's really important to stick to your plan. $QQQ

[David Burrows @barometerca]

Tough Mondays often follow hard Fridays.

[The Factor Report @PeterLBrandt]

FRIDAY CLOSING LOSS RULE
My trading policy is to liquidate any trade that shows a loss on a Friday for two reasons
1. Enjoy a weekend without sweating a loser
2. Friday losses often get worse the following week
Rules rule

[David Burrows @barometerca]

@270SAKO Thanks so much. I always enjoy the opportunity.

[David Burrows @barometerca]

#preciousmetals continue to consolidate from extended on a relative basis before the second leg of the bull market gets going.

The retracememt is getting close to done but no evidence it is there yet.

Corrections come as a combination of time and price.

#Silver vs. $QQQ

$PSLV $SLV $PHYS $GLD $GDX $SIL $SGDM $SILJ

[David Burrows @barometerca]

@270SAKO Nothing is impossible but I think it will more likely be a shake out. I believe this bull market is still early stages.

[David Burrows @barometerca]

As mega IPOs loom, equity markets continue to be a collection of haves and have nots. This week we discussed opportunities in inflation hedged themes and our positioning headed into a historically challenged seasonal period.

[David Burrows @barometerca]

Join us today at 4:00PM for our Barometer Readings Webcast. We’ll share our latest read on the markets, the leadership we’re watching, and the key signals helping guide our portfolio decisions. https://t.co/8flFHsR6rc

[David Burrows @barometerca]

@_PermaBull_ I think the relative weakness overall is selling to fund other purchases.

[David Burrows @barometerca]

Could this be an early sign of funding stress?

There is tremendous pending demand for capital to fund the largest IPOs in history and jumbo capital raises ($GOOGL)

Many of the same investors own #bitcoin.

Thoughts?

[David Burrows @barometerca]

@sliman12 right - I am watching for canaries in the coalmine.

[David Burrows @barometerca]

@ChrisJustChris9 All markets correct. It sets up the next move higher.

[David Burrows @barometerca]

The correction in #gold and #precious metals have largely run its course...but it also may mean the recent moonshot rally in $QQQ is maturing.

Giant IPOs can often mark near term highs.

Have a plan.

[David Burrows @barometerca]

#Copper producers have re-engaged and many are making new highs. Correction looks complete.

$HBM $FM $TECK $RIO $FCX