Who Is Going To Bet Against George Soros?

Hello MarketClub members everywhere. The big question today is, who is going to say George Soros is wrong? This is the same man who bet against the Bank of England in 1993 and made over a billion dollars! That is when a billion dollars used to be worth a whole lot more than it is now.

One expression I heard many years ago in the early part of my career is, "they don't ring a bell at the top of the market." It's one of the best expressions I have ever heard in the marketplace and it's true, nobody tells you exactly when it's the top of the market.

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Whether this is the top, or we are close to the top, it really is too early to say. However, there is a certain feeling in the air of uncertainty and that alone can cause stocks to go down.

Mr. Soros, who is betting against Europe and the stocks there, has also been buying gold and gold mining stocks and in particular Barrick Gold Corporation (NYSE:ABX). He has also been purchasing gold bullion as he feels that the yellow metal is going to provide value in the future.

In my commentary yesterday, I talked about how I felt uncomfortable with stock prices, but the Trade Triangles were saying just the opposite. The key in my mind is to respect the trend and the Trade Triangle technology, both of which are currently positive on the major indices. There are several areas that I will be watching today in the major indices. In the S&P 500 (CME:SP500) the level is 2112.13, should the market move below that level and close there it would not be a good sign in the short term. Also, on the Dow (INDEX:DJI), a move and close below 17,938.28 would not be a good for this index. Lastly, on the NASDAQ (NASDAQ:COMP) I will be watching the 4984.87 level closely, a close below that area would indicate a short-term top in this market.

As I mentioned earlier in this post, George Soros has been purchasing gold and gold mining shares for some time now. Let's take a look at Barrick Gold Corporation (NYSE:ABX) and analyze the opportunities I see in this stock as well as gold bullion.

Crude Oil (NYMEX:CL.N16.E):
Oil has created a large negative engulfing line today, indicating that a potential short-term top is in place. As you know, I was looking for a move in the near term to around $52 a barrel and this morning the market had moved to $51.67 before profit-taking kicked in. I'm still of the belief that this market can go significantly higher and that the $50 area should act as some form of support.

In today's video, I will be covering all these markets and more.

Stay focused and disciplined.

Every success with MarketClub,
Adam Hewison
President, INO.com
Co-Creator, MarketClub

4 thoughts on “Who Is Going To Bet Against George Soros?

  1. You should have though four times, never in history have so many people in the United States and the entire world been lied too and misled, You're just another that doesn't seem to understand how bad things really are. I think you're about to get financially hurt. I wouldn't be a sheep here. What in the world do you think is holding the market together. Back to the books for you!

    1. It is quite difficult to understand what you want to say through your comment, anyway, may i know? whether your this comment is for me? please let it clear, and let me know about, so that i can give you reply accordingly.

  2. Mr. Soros is a very big name in the world of finance, and his talent is accepted Globally As against which, and Compare to Mr. Soros, I think I am nothing, so before writing anything, I must think, not just twice or thrice, but for so many times.

    However, at this stage, I would like to ask one simple but logical question that why Mr. Soros missed that great opportunity around year 1999 or in 2001, when Gold was available at around $ 250? even thereafter, again in the last year too, when Gold touched near $ 1050 why he had not bought Gold in a bottom fishing manner? and now at around $ 1260, he is talking about to buy Gold and Gold mining Stocks is it not surprising?

    At this stage, neither I am predicting any possible future "End Outcome" of his study, nor i am going to tell you that Mr. Soros is wrong, or i don,t want any talk like "Gold will never find Bull run again," but we should not firmly conclude anything on the ground of Mr. Soros's belief, also we just can't presume as a fully sure positive signal for Gold, just on the basis of his statement or announcement.

    Being a student of World Economy, I am having extreme respect for Mr. Soros, so I have point-out his views accordingly, but that doesn't mean that he is either "Never infallible" or this time too, he will prove absolutely correct. For the sake of compression, one must check massive purchase of Silver by Mr. Warren Buffet, and what happened afterwards, so if Buffet can prove wrong, then and then Mr. Soros too may added in that list, and therefore we required to make revision of that Golden Rule of Market which tell us that there is Nothing surefire or nobody has any "Infallible Tool”

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