1. Potus out of town, all is pretty quiet for now
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  2. Good Mon Morning! Gold catches a bid +2.7 to 1256, while Silver is +16 to 1696. Crude still moving up 48 to 5115. The USD is down 6 and breaks 97, 9696.
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  3. Week of 5/13/2017 Closing prices & Chg Over Last Wk---- Gold $1227.70-- UP 0.80 Silver $16.40-- UP 13 Oil $47.84-- UP 1.62 USD $99.13 -- UP .61
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Charts from the Lunatic Fringe.

Discussion in 'PM Trading/Stocks/Technical Analysis' started by Zed, Oct 21, 2014.



  1. southfork

    southfork Mother Lode Found Mother Lode

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    Frankly I don't see why oil is back over 30 a barrel nothing has really changed , supply, consumption all non starters, my believe is .gov is propping oil to keep dozens of major companies from going bankrupt and it cant be done forever but good luck to you.
     
  2. louky

    louky Silver Member Silver Miner

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    The taxes where paid by whoever i sold shares to for bag holding. So yeah 100% free
     
  3. louky

    louky Silver Member Silver Miner

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    Fwiw, march 20

    [​IMG]
     
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  4. louky

    louky Silver Member Silver Miner

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    Was gold down today?

    I took profit on a massive EXK position built in 3 buys.

    Will look to buy back. Still holding other miners

    But top of the box is a long way down 1197, yikes
     
  5. louky

    louky Silver Member Silver Miner

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    Well, of course I negated the call (got trick, BUT

    Miners based

    2/3 red s&p

    Now miners up and green, some bigly, while gold proceeds to get trashed to "errybody and they mutha" target level 1240

    :2 thumbs up:
     
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  6. louky

    louky Silver Member Silver Miner

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    I dont show this stuff to brag, just maybe someone can learn something

    This is where i started looking to buy and discussing how you never rush in. Wait for the price to come to you. Buy in steps. Never bet more than you can sleep on. Then manage risk with a stop.




    My target was 2.84 because that's where it bounced on bad news.

    Keep what you take (lock profit). Can always buy back.

    [​IMG]
     
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  7. louky

    louky Silver Member Silver Miner

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    I think GG said down to 1227 maybe? For bottom of that black up channel? Not sure.

    In December he just said buy below 1140, I called the 1124 (1123 actual) intra day bottom, if I recall his guess was in the 30's

    [​IMG]
     
  8. louky

    louky Silver Member Silver Miner

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    GG, Silver hand drawn chart from Dec

    [​IMG]

    What does the actual chart look like now end of april? Overshot 18, deeper correct, but leg 1, leg 2 right on schedule

    The fella is scary good.
     
    Last edited: May 3, 2017
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  9. louky

    louky Silver Member Silver Miner

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    Now we're at rubber meets the road moment again I guess? Haha
     
  10. louky

    louky Silver Member Silver Miner

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    Only market knows the bottom. Trying to pick it is a fools game.

    A good trader waits for confirmation

    1215 next pivot point (small one)
     
  11. louky

    louky Silver Member Silver Miner

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    Area now (GG invisible lines) is not investable . Little $ strength and we hit 1215.

    OR....1251 comes. Then you wait for confirmation above it. Recall all the action i've described before at 1197, 1188 etc, all the way up from bottom

    Test, retest. Maybe 2-3 times @1251. No set number, but only then would it become tradeable (with stop)

    I'm making no calls, no targets, just sharing thoughts of a trader
     
    Last edited: May 3, 2017
  12. louky

    louky Silver Member Silver Miner

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    Markets in general

    [​IMG]
     
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  13. louky

    louky Silver Member Silver Miner

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    [​IMG]

    Huge lesson in this, especially commodities.

    Turn off the news outlets, step 1.
     
  14. louky

    louky Silver Member Silver Miner

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    There was an fomc today. What'd she say ;)
     
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  15. louky

    louky Silver Member Silver Miner

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    Give me an F...

    [​IMG]
     
  16. louky

    louky Silver Member Silver Miner

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    Miners should of been down HUGE today. Look at 3x amplified products, nugt/jnug (down 2-3%)
     
  17. nowon

    nowon New Member Seeker

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    betting on Euro taking a dump with the French and Italian flavors of brexit gaining ground....EUO
     
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  18. Zed

    Zed Size doesn't count! Midas Member

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    The Euro has to explode... eventually, it is what I see as being the driver for gold and the USD to move up in tandem. When though, when? A shock French result could be enough... Italy having a financial crisis that triggers political fallout or simply the nationalists getting up and voting OUT! Somewhere here there is a trigger, could even be Greece or Portugal.
     
    Last edited: May 3, 2017
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  19. Zed

    Zed Size doesn't count! Midas Member

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    YES.

    Price action MAKES news... not the other way around. I once heard MSM say that the DOW rallied because some miners where rescued! They will report any shit, it was a slow news days. The market will do what it will do mostly regardless of news, it is mostly discounted save for major surprises. Yes you consider fundamentals but the determining factor is what the market currently believes, that is to say what is discount in the price NOW... direction will be set accordingly. Yes oil may have some sad fundies going on, but if you get it then so does the rest of the market... which means the current price includes the worst right NOW. Lows happen when news is bad, highs when new is great... always look forward.
     
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  20. savvydon

    savvydon Gold Member Gold Chaser

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    Silbur's RSI @ 22, a two year low- impressive! Can the big boys smack it's price down to 16?



    screenshot_56.png
     
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  21. louky

    louky Silver Member Silver Miner

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    Can do anything they want lol
     
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  22. louky

    louky Silver Member Silver Miner

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    [​IMG]
     
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  23. Zed

    Zed Size doesn't count! Midas Member

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    I still get that feeling its all about defending a silver position. Whatever... it looks like a buy to me.
     
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  24. Zed

    Zed Size doesn't count! Midas Member

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  25. louky

    louky Silver Member Silver Miner

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    busiest house today Sprott....eric and rick
     
  26. louky

    louky Silver Member Silver Miner

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  27. louky

    louky Silver Member Silver Miner

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    [​IMG]
     
  28. savvydon

    savvydon Gold Member Gold Chaser

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    What is your take on today's exploration below the red line?
     
  29. Goldhedge

    Goldhedge Modal Operator/Moderator Site Mgr Site Supporter

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    Just curious what you were buying? Stocks? Options?
     
  30. louky

    louky Silver Member Silver Miner

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    [​IMG]
     
  31. louky

    louky Silver Member Silver Miner

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    Stock with size for this scenario (32 cents swing)
     
  32. louky

    louky Silver Member Silver Miner

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    [​IMG]
     
  33. louky

    louky Silver Member Silver Miner

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    [​IMG]


    Picking bottom is dangerous, especially in commodities

    Sometimes it's just a feel

    But, one tool to add in your tool box



    http://www.investopedia.com/terms/b/bullish-abandoned-baby.asp
     
    Last edited: May 4, 2017
  34. louky

    louky Silver Member Silver Miner

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    More on the doji

    http://www.investopedia.com/ask/ans...-abandoned-baby-pattern-important-traders.asp

     
    Last edited: May 4, 2017
  35. Thecrensh

    Thecrensh Gold Member Gold Chaser

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    Enough with the squiggly lines already. Just tell me where to put my money to make a gazillion dollars at zero risk. ;)
     
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  36. louky

    louky Silver Member Silver Miner

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    Well the invisible lines don't matter much of course. We know the market does what it wants. This technical break just gives traders a warning that the door is open to lower. Tells you to manage risk (stop, take profit or hedge).

    Or to buy, if you're a wolf.....

    All I can say is they (wolves) were buying today. That's good for a dead cat bounce most likely, maybe for a few days, a week. That buys time for a catalyst to present itself ?


    Lets say I was here drawing meaningless invisible lines last year:

    [​IMG]



    No one expected a $2 breakout last year in april, right? I'm sure posters were here pounding the table about net shorts and other irrelevant data.

    Except GG or course, who drew it in March, showing through september crash (calling 1150 and 15 6 months before it happened) and posted it online for everyone to see and get a good laugh about.

    We'll see.....maybe lightening strikes twice ;)
     
  37. louky

    louky Silver Member Silver Miner

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    Bear view right now at this moment: dead cat bounce, maybe a few days, a week. Then gold is set to retest 1179 at minimum.
     
  38. louky

    louky Silver Member Silver Miner

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    Same ol' shit different day....lol



     
  39. louky

    louky Silver Member Silver Miner

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    Time for these folks to show up in the thread

     
  40. louky

    louky Silver Member Silver Miner

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    16 held, maybe again

    [​IMG]
     

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