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Charts from the Lunatic Fringe.

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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"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
 

louky

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I mean just look back few pages. As soon as i noticed we were cleared for lift off, I said 1359. Straight to it. Pretty much everyone was calling for gold dump, every gold blog and chart reader. We rode up and sold 2 bucks short of the high, 1362. The boxes are all that really matters.
Yep
 

jelly

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If today closes red, maybe signal of first pullback since Christmas bottom. "Normal" corrections are 2-3%.
I'll add this - the method I use was telling me the top was put in yesterday. I don't know how deep the pullback will be, but this signal is normally good for several weeks - months. Some stocks I've gotten this signal in the past has given a 50% pullback. I'm not suggesting it for the general markets, I'm just saying how deep of a pullback is pretty unpredictable, but the signal is pretty reliable.
 

Varmint Hunter

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I'll add this - the method I use was telling me the top was put in yesterday. I don't know how deep the pullback will be, but this signal is normally good for several weeks - months. Some stocks I've gotten this signal in the past has given a 50% pullback. I'm not suggesting it for the general markets, I'm just saying how deep of a pullback is pretty unpredictable, but the signal is pretty reliable.
Time for sdow?
 
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We don't know if it is a pullback, a retest of the low, or bottoming out of 17,800+ Dow, that was when Trump was elected. Can someone shed light on Feds balance sheet? Did the Feds withdraw any more money or stalled? We haven't had a true capitulation, last Dec had some features of a capitulation, I can't rule out if that was the one. There are still some companies out there that are called inflated tube man, like in this one: https://www.lookourway.com/air-dancers-inflatable-tube-man-red/
 

louky

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I'll add this - the method I use was telling me the top was put in yesterday. I don't know how deep the pullback will be, but this signal is normally good for several weeks - months. Some stocks I've gotten this signal in the past has given a 50% pullback. I'm not suggesting it for the general markets, I'm just saying how deep of a pullback is pretty unpredictable, but the signal is pretty reliable.
Sounds doable :)


IMG_20190207_204714.jpg

 
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jelly

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For what it's worth, biotech had the clearest signal, though that doesn't mean it will decline the most. Just was more obvious.
 

louky

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So trade talks failed was news yesterday after month long hype from trump about how it was a done deal. Now today, fed press releases that they're considering permanent QE to infinity.

Screenshot_20190208-172137_Samsung Internet.jpg
 
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Goldhedge

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Ocean Shipping Rates Plunge: Just A Blip Or The End Of Globalization?
BY JOHN RUBINO ◆ FEBRUARY 9, 2019

The Baltic Dry Index represents the cost of renting an ocean-going container ship to move goods from, say, Chinese factories to the Port of Los Angeles. The more stuff being made and sold, the higher the demand for such ships, and thus the higher the price to rent one. And vice versa.

This is definitely one of the vice versa times. After rising to robust levels in mid-2018 the Baltic Dry Index has since plunged by about two-thirds.



Here’s a brief article on the subject from today’s Wall Street Journal:
 

jelly

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Silver jan 8th CoT, funds continued piling into longs while banks and commercials racing to add shorts
Makes me wonder if this gold run will make it all the way to 1360 or not. Definitely have some bad signs showing up.
Overall, this consolidation over the past few days seems bullish, but it can turn bearish pretty quick.
 

HistoryStudent

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Isn't it ironic we always get here and get back so many times...

My guess is that we do push through $1,370 ish and onward to $1,400
then a fight to $1,450 and past $1,500. After that a hell of a push past
$1,815 of yesteryears' past. Then on to the top of Eric Jordan's book
MODERN COMMEMORATIVE COINS pages 76 & 77... Read each word...
Then next page FOLLOWING DISPOSABLE INCOMES in lockstep...

I am going along with the other markets and several other things such as
Gold rattling from all the BRICs & Associates... DYODD

I Like it that you are scared I am always scared... THIS WEEK and NEXT should tell...
I love it when the months ends on HIGHER HIGHERS...

If I am right and we hit $3,000 to $5,000 before Major FOUR down. Grap some profits and
buy your loved ones a new car or such NO DEBT MIND YOU - cash out or trade a few coins
even STEVEN... LOL