My 1st Million At 33 – yes, you can do it too

The general market is weaker than I expected. Supposedly S&P 500 should turn bullish from the COT report, according to the article by James West. I am moving my targets downward for HUI,XAU, & spot gold. The weakness in the general market affects the precious metal market as well. This is truly a dangerous time indeed. I think a retest of 200 MA seems to be more likely for PM market.

My biggest scare is coming from Robert McHugh who published the Hindenburg Omen this April. If bond market tanked as he is predicting, blood will be on the street. His target of 97 seems to correspond to 30-year interest rate at 5.5%, up from the current 5.175%. If bonds go to 5.5%, I think everything could be probably over. Not stock market, not housing market, not precious metal market (although it will probably fare the best among all), nothing will work. Probably only cash.

Scary time! Now I’m glad that I still have 60% of my readily available cash. Just hope that my fear is consistent with a market bottom here.