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Charts from the Lunatic Fringe.

savvydon

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I wonder if we will be watching another video of him drawing charts like this for the big breakout in 2020? FWIW his approach seems well reasoned. My takeaway over the years, unfortunately, has been that reason has nothing to do with price discovery. Maybe this time it’s different...
 

Goldhedge

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louky

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Little pink blip caused the worst December since the great depression. Think about that next time you hear someone pumping 25,000 dow and how great everythng is

IMG_20190203_184031.png
 

Zed

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Swinging red and green all day. Pretty well flat EOD.
 

jelly

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Branching away from the PM sector for a bit. Here's a couple charts I found interesting.

Biotech sector dancing on the 200-DMA (red line). Bears would want a turn lower starting now. Above the 200-dma, should be bullish. I'm inclined toward a bearish stance. Volume has been declining in January.

BIo.png


Real Estate has been on an absolute tear lately. This one has been slipping under the radar. When does it stop? Who knows.
Real Estate.png
 

savvydon

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Looks like it's "do-or-die" time for silver. Clear negative divergence if we continue lower. We really need to head higher immediately if the bulls want to keep a pretty picture.

View attachment 123687
Let's see if it helps that we are approaching what looks like will be a golden cross of the 50 dma over the 200 pretty soon.
 

Zed

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Slightly soft down here...
 

Zed

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You guys!

To continue the analogy, brewers droop set in! Oy Vey!
 

Zed

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Silver Daily. Approaching trend, some support and a certain golden cross. Maybe we do the 50DMA but if buying kicks in soon we are looking good.

Screenshot from 2019-02-07 16-54-33.png
 
Last edited:

savvydon

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This pullback feels healthy at the moment. POG holding up reasonably strong in the face of dollar headwinds. Momentum indicators getting/giving a breather.
 

HistoryStudent

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Thanks
"Zed"
"Louky"

Always great to see markets.

Just reading my favorite book again...

"Reminisences of a Stick Operator". Aka Jessie Livermore 1882 - 1923 ish
By Edwin Lefevre

Funny how it all rhymes with 500 times the paper leverage to one ounce of gold physical and perhaps 499 ounces of gold not covered. The market can remain nuts longer than you think it can...


Ps the book is highly rated even today written in 1923 about trades starting in 1896...
 

louky

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Thanks
"Zed"
"Louky"

Always great to see markets.

Just reading my favorite book again...

"Reminisences of a Stick Operator". Aka Jessie Livermore 1882 - 1923 ish
By Edwin Lefevre

Funny how it all rhymes with 500 times the paper leverage to one ounce of gold physical and perhaps 499 ounces of gold not covered. The market can remain nuts longer than you think it can...


Ps the book is highly rated even today written in 1923 about trades starting in 1896...
Hey buddy ;)
This is the first book people should read if they have an interest in trading, published 1923, top result:

http://letmegooglethat.com/?q=Reminiscences+of+a+stock+operator+pdf
1923. 100 years. Nothing changes, people are and always will be wired the same way
 

louky

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jelly

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IMO, either this rally since the August lows has complete now and is heading for a multi-week correction, or we will shortly be heading to the 1360 area. In my mind there's only 2 options. So, either we head to 1360 in the next couple weeks, or we wait a couple months. My 2c
 

louky

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IMO, either this rally since the August lows has complete now and is heading for a multi-week correction, or we will shortly be heading to the 1360 area. In my mind there's only 2 options. So, either we head to 1360 in the next couple weeks, or we wait a couple months. My 2c
Yep, that's how it works. Bottom of upper box 1359. Trick is knowing when 1296 has become locked in support and fully back tested. Not always so easy.

The way this works. Just like we've been doing all the way from 1124 bottom.....

If 1296 becomes support, then we touch bottom of the next box 1359 (at least).

Of course there's some work to do between here and there, but once 1296 is solid, it will happen