• "Spreading the ideas of freedom loving people on matters regarding high finance, politics, constructionist Constitution, and mental masturbation of all types"

Charts from the Lunatic Fringe.

louky

Silver Member
Silver Miner
Joined
Jun 8, 2014
Messages
7,904
Likes
4,758
Location
Bluegrass
Really interested to see what happens next week. Recall, everyone one the planet was bullish for breakout in April. example, we had igoldadvisor calling "forgone conclusion 2016 breakout", but i stuck with top call down to the wire. They didn't print the final reversal candle until last day of april and it ended up being a major top just like i said (and musing showed since 2 years ago).
The next week, around aug 9th it reversed, +200 from bottom pretty much. igoldadvisor got it wrong again, badly.
 

Goldhedge

Moderator
Site Mgr
Sr Site Supporter
Joined
Mar 28, 2010
Messages
40,021
Likes
60,945
Location
Rocky Mountains

Goldhedge

Moderator
Site Mgr
Sr Site Supporter
Joined
Mar 28, 2010
Messages
40,021
Likes
60,945
Location
Rocky Mountains
Delinquent Auto loans vs unemployment who'da thought there was a correlation...?
 

Zed

Intergalactic Smart Arse
Midas Member
Site Supporter
Joined
Mar 30, 2010
Messages
13,155
Likes
10,967
Location
Just behind you.
Gold Hourly...

Another classic pattern is emerging but isn't complete. This pennant is confirmed with an upside break. If that were to happen a classic + the pole length projection has this move tackling the $1400 level.

https://www.investopedia.com/terms/p/pennant.asp

All this "normally bullish" price action has me well and truly SPOOKED! LOL :don't know:

AU-1H-20190607-1.png
 
Joined
Oct 16, 2010
Messages
184
Likes
94
I'm sure it'
Gold Hourly...

Another classic pattern is emerging but isn't complete. This pennant is confirmed with an upside break. If that were to happen a classic + the pole length projection has this move tackling the $1400 level.

https://www.investopedia.com/terms/p/pennant.asp

All this "normally bullish" price action has me well and truly SPOOKED! LOL :don't know:

View attachment 133174
I'm starting to have second thoughts on this chart. These cars vehicles last much longer than the ones made before year 2000. I don't think that as many people are buying vehicles like they used to in the past. I don't know if this is a helpful indicator to draw comparison with unemployment rates like in the past.
where did you get this chart? Thats amazing that someone could actually compile a chart like that. Is that per week? I'll be dead by then.
 

Zed

Intergalactic Smart Arse
Midas Member
Site Supporter
Joined
Mar 30, 2010
Messages
13,155
Likes
10,967
Location
Just behind you.
I'm sure it's gonna be different this time
Once upon a time a cut said, more juice buy stocks! Now it says more like "we're fucked". I'm hearing buy the cut talk but I'm thinking that it can't last. :don't know:
 
Last edited:

Zed

Intergalactic Smart Arse
Midas Member
Site Supporter
Joined
Mar 30, 2010
Messages
13,155
Likes
10,967
Location
Just behind you.

Zed

Intergalactic Smart Arse
Midas Member
Site Supporter
Joined
Mar 30, 2010
Messages
13,155
Likes
10,967
Location
Just behind you.
Gold Hourly...

Another classic pattern is emerging but isn't complete. This pennant is confirmed with an upside break. If that were to happen a classic + the pole length projection has this move tackling the $1400 level.

https://www.investopedia.com/terms/p/pennant.asp

All this "normally bullish" price action has me well and truly SPOOKED! LOL :don't know:

View attachment 133174
Working off the bottom of the pennant now. RSI sub @ 47, typically it tends to oscillate in the top half on a good bull run.
 

Zed

Intergalactic Smart Arse
Midas Member
Site Supporter
Joined
Mar 30, 2010
Messages
13,155
Likes
10,967
Location
Just behind you.
Friday nerves in play this AM on the ASX Goldie scene. -0.75%
 

Zed

Intergalactic Smart Arse
Midas Member
Site Supporter
Joined
Mar 30, 2010
Messages
13,155
Likes
10,967
Location
Just behind you.
Been burned so many times I'm getting shy of the market....
I hear you!

That is what happens, wear you out and scare you out... then it goes. Classic bull market building, when every last weak hand has gone the price will move substantially.
 

Zed

Intergalactic Smart Arse
Midas Member
Site Supporter
Joined
Mar 30, 2010
Messages
13,155
Likes
10,967
Location
Just behind you.
Friday nerves in play this AM on the ASX Goldie scene. -0.75%
... got over the nerves by the close. +0.75%
 

Zed

Intergalactic Smart Arse
Midas Member
Site Supporter
Joined
Mar 30, 2010
Messages
13,155
Likes
10,967
Location
Just behind you.
Gold Hourly... taking a swing up. Need to convincingly cross that fat red one!

AU-1H-20190607-2.png
 

Zed

Intergalactic Smart Arse
Midas Member
Site Supporter
Joined
Mar 30, 2010
Messages
13,155
Likes
10,967
Location
Just behind you.
You may have noticed, for the first time in quite a long time gold has my full attention. That is normally reserved for my bread and butter trading activity, anyway something about golds action is drawing me in this time. I can't say it means anything reliable but the old ears pricked up on this move.

Oh do shut up you silly old bugger!
 

Goldhedge

Moderator
Site Mgr
Sr Site Supporter
Joined
Mar 28, 2010
Messages
40,021
Likes
60,945
Location
Rocky Mountains
Gold Hourly... taking a swing up. Need to convincingly cross that fat red one!
"Convincingly" would be good. I might even hop on the junior train...
 

savvydon

Gold Member
Gold Chaser
Joined
Dec 14, 2010
Messages
2,862
Likes
2,404
Silver is blowing through $15 this morning. Seeing silver wake up would be a confirming signal that this gold rally is the real deal.
 

Goldhedge

Moderator
Site Mgr
Sr Site Supporter
Joined
Mar 28, 2010
Messages
40,021
Likes
60,945
Location
Rocky Mountains
Sitting right on top of it this morning on the heels of a piss poor job report and the market getting all hot to trot out a rate cut.

The rest of the day should be very illuminating.
Heard on the radio news of the air that the reason for the 75K jobs instead of 175K was that employers are leery of the future.

Said something about the FED lowering rates because the economy is softening....

I'm thinking that just maybe folks aren't applying because they have jobs already....??
 

savvydon

Gold Member
Gold Chaser
Joined
Dec 14, 2010
Messages
2,862
Likes
2,404
Heard on the radio news of the air that the reason for the 75K jobs instead of 175K was that employers are leery of the future.

Said something about the FED lowering rates because the economy is softening....

I'm thinking that just maybe folks aren't applying because they have jobs already....??
I'm no economist and don't have access to lots of numbers. I think there are a lot of lower paying jobs out there that barely add up to a living wage. I'm sure a lot of people have dropped out of the job market on the heels of what their investments/nest egg has been able to do for them so far this century. I do feel like there is this rapidly rising mass hysteria that the economy is softening and it is time to cut rates. As to the softening, I have been watching that coming down the pike for years. As to rate cuts, I think that will be the last gasp of the dying patient clinging to life on the respirator. Surely this is just entering the next phase of what we have to go through to get to where we are going to end up - whatever that is...

I obviously can't get this thing into clear focus. It feels, though, like the chickens are coming home to roost.
 

Strawboss

America...Love it...or GTFO
Gold Chaser
Site Supporter
Joined
Mar 31, 2010
Messages
4,570
Likes
7,591
Location
Metro Detroit area
So far miners not confirming the strong metals move this morning. This makes me sad.:(
They are skeered...

Several years of constant and unrelenting abuse takes its toll.

If its the real deal this 6th time...it will all work out...as louky says - we need to see 1359 act as support...
 

savvydon

Gold Member
Gold Chaser
Joined
Dec 14, 2010
Messages
2,862
Likes
2,404
They are skeered...

Several years of constant and unrelenting abuse takes its toll.

If its the real deal this 6th time...it will all work out...as louky says - we need to see 1359 act as support...
I know this is true.

I do have a couple of long shot June GDX calls that are very close to being in the money. Next time I promise not to be so greedy and impatient. Maybe this time, though, I could catch a break... just a little one?;)
 

Goldhedge

Moderator
Site Mgr
Sr Site Supporter
Joined
Mar 28, 2010
Messages
40,021
Likes
60,945
Location
Rocky Mountains
They are skeered...

Several years of constant and unrelenting abuse takes its toll.

If its the real deal this 6th time...it will all work out...as louky says - we need to see 1359 act as support...
Fool me once, shame on you....
 

Strawboss

America...Love it...or GTFO
Gold Chaser
Site Supporter
Joined
Mar 31, 2010
Messages
4,570
Likes
7,591
Location
Metro Detroit area
Fool me once, shame on you....
Yeah - thats a common mindset for sure...but it cant be applied universally either...

For example - if you had a kid you were teaching to ride a bike and told them that soon they would be riding like a pro...and then they subsequently fall and skin their knee, or chip a tooth or something - and they adopt the mindset of "fool me once shame on you..." - they will never master the skill...

Sometimes you gotta blow up an account or 3 before getting the hang of how these manipulative banking frauds operate...