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Charts from the Lunatic Fringe.

jelly

Silver Miner
Seeker
Joined
Dec 6, 2010
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First reaction is normally wrong....recall 2016 sept fomc gold and miners shooting up post fomc only to get crushed into oblivion. This time could always be the exception of course.
Really not liking the post-fed reversal. Strong rally followed by sell off.

My target for GDXJ was $34 on this rally, but with today's sell off, we might be putting the top in for this rally. Just a short term view. I'm watching $16 silver. If we pull back under 16, then I think we correct for a week or more. But as long as that holds, I think we head higher.
 

savvydon

Gold Member
Gold Chaser
Joined
Dec 14, 2010
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Really not liking the post-fed reversal. Strong rally followed by sell off.

My target for GDXJ was $34 on this rally, but with today's sell off, we might be putting the top in for this rally. Just a short term view. I'm watching $16 silver. If we pull back under 16, then I think we correct for a week or more. But as long as that holds, I think we head higher.
Sold half of my GDX June 22 calls today and recouped the price on all of them bought a few weeks ago. Playing with house money now. Will watch price of gold to help me understand when to sell the rest. If we shoot up quickly to the $1350+ area and miners follow I may dump. If we take our time and consolidate I will let things play out a bit.
 

louky

Silver Member
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Jun 8, 2014
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Allegedly....

No more hikes
No more auto QT schedule
QE4 done deal


1318ish-1322ish is big fib zone of current moves

1318 Close = 76.4% of 1360 to 1184 on a closing basis.

1318 = 76.4% of 2016 High at 1377 to December 2016 low of 1124.

1322 = 76.4% of 1369 to 1167 on an intraday basis
fib resistance fully in tact....yawn
 
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louky

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It's spreading around quicker than people realize because fake US data has you thinking everything is peachy. It's not contained to Turkey, like cnbc telling everyone either. I agree powell will stay the course, but only until stock market breaks, which isn't year away.
He already shifting to panic mode and stocks only went down 20%.
 
Joined
Oct 16, 2010
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138
this is a tough market, fb reported blowout quarter and then amzn comes next tomorrow. I wouldn't want to be short in the markets if these stocks motivates the markets higher. The Feds changed sides and fooled just about everyone.
 

louky

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this is a tough market, fb reported blowout quarter and then amzn comes next tomorrow. I wouldn't want to be short in the markets if these stocks motivates the markets higher. The Feds changed sides and fooled just about everyone.
"Blowout quarter" on revised down expectations, super boolish lol
 

louky

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You know how shitty the economy is when people with grossly overpaid jobs are in line at soup kitchens and pawning family heirlooms after missing only two paychecks
 

louky

Silver Member
Silver Miner
Joined
Jun 8, 2014
Messages
8,039
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4,939
Location
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Allegedly....

No more hikes
No more auto QT schedule
QE4 done deal

1318ish-1322ish is big fib zone of current moves

1318 Close = 76.4% of 1360 to 1184 on a closing basis.

1318 = 76.4% of 2016 High at 1377 to December 2016 low of 1124.

1322 = 76.4% of 1369 to 1167 on an intraday basis

fib resistance fully in tact....yawn
All that fake news and Still nothing signifcsnt happened on a closing basis
 

louky

Silver Member
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Best January since 1987. Only took

- trump calls ppt/hedge funds
- shit tons of fake trade news and blatent lies
- powell doing an about face into ultra dove

:D
 

Zed

Intergalactic Chart Arse
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Mar 30, 2010
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Just behind you.
Slightly up, then flat and now going south down here. Soft day!
 

dpong

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Gold Chaser
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Jan 11, 2012
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SPX "launch" from Fed Speak looks very weak. Sure it went up today, but I'm not seeing enthusiasm. Expect reversal.