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Charts from the Lunatic Fringe.

Zed

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Goldhedge

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"QE4-ever" Sinclair
 

Zed

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Looking towards the 16's.
 

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Zed

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Zed

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We are in the 3rd wave of the major bull market. The institutional or mark up phase. This is when the risk reward is best, these are the safest profits. Don't over trade. Trade legs 4 and 5.

http://news.goldseek.com/GoldSeek/1570568355.php
 

Zed

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Zed

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SPY currently at 289. I think Louky’s number for breakdown was 279...
It's looking more like the 2600 odd level to me. Maybe 2500 odd if we fall outta bed. The 2008 trendline sits down there. It has the look of a major top that is losing momentum... at least for now.
 

Strawboss

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1570579616442.png


We could see $41 on this upmove which would then allow a retrace to $37 area (which might coincide with $1539 and $1494/$1476...but if my dreams are to be realized - we need to break down through $36...

The weekly chart is looking a bit better - but still suggestive of a corrective mode ongoing...

1570579872507.png


Of note is that the 50wma is about to cross above the 200wma - a golden cross...

I am really a bit uncertain what to do...I am fully hedged and missing out on the upmove but not yet convinced that the correction is over...

There is a part of my brain that is fighting the urge to just say screw it - grab as many LEAPs as I can with as much time as I can and just sit tight...

If we truly are in wave 3 as Zed suggests - that might really be the best strategy instead of all this trying to time the moves...which sometimes I hit - and other times I dont (like at present)...
 

Zed

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View attachment 142984

We could see $41 on this upmove which would then allow a retrace to $37 area (which might coincide with $1539 and $1494/$1476...but if my dreams are to be realized - we need to break down through $36...

The weekly chart is looking a bit better - but still suggestive of a corrective mode ongoing...

View attachment 142985

Of note is that the 50wma is about to cross above the 200wma - a golden cross...

I am really a bit uncertain what to do...I am fully hedged and missing out on the upmove but not yet convinced that the correction is over...

There is a part of my brain that is fighting the urge to just say screw it - grab as many LEAPs as I can with as much time as I can and just sit tight...

If we truly are in wave 3 as Zed suggests - that might really be the best strategy instead of all this trying to time the moves...which sometimes I hit - and other times I dont (like at present)...
Volume is falling into the 'correction' so far... slowing?
 

Goldhedge

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Screen Shot 2019-10-08 at 9.08.29 PM.png
 

Zed

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Strawboss

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Volume is falling into the 'correction' so far... slowing?
Actually - you saw a large increase in volume as price fell - and now we have declining volume on the "rebound" - on the weekly chart...

This week of course is still in progress - so that volume bar isnt yet complete...
 

Zed

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Actually - you saw a large increase in volume as price fell - and now we have declining volume on the "rebound" - on the weekly chart...

This week of course is still in progress - so that volume bar isnt yet complete...
I can can see extra volume on my chart but not what I'call a massive increase. Over all the volume trend has been down since the spike on the 18th. Looks like it's running out of steam to me, price seems to be chopping around reflecting that. I think that many stock buyers are very wary of a break higher here, as well as a break lower. I don't get the general feel of confidence in the selling here. Feels uncertain to me. 2c FWIW.

BTW in August 16 GDXJ over ran golds gains by a decent %, this time we are lagging gold by a decent %. We'd be toward 70 if we had 2016's momentum. This isn't really over done.... 2c FWIW.
 

Zed

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I've got the Norge Bank trading in and out of one of my big holdings like a coked up hedge fund! JPM are the broker, of course.... What a world, the once conservative central banks now seem to have the time horizon of a small position trader, while me, the small position trader is showing more restraint!

What a world!
 

Zed

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+~2%
 

Zed

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Zed

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Zed

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Zed

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Zed

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Zed

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Zed

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Zed

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Zed

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Zed

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Zed

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Weatherman

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What Makes This Gold Market Rally Different from All Others
Headline snips. More detail about each in the article. . .
1. It is led by institutions and funds, not private investors.
2. Day-to-day price reversals often originate in Asia and Europe, not just the United States.
3. Central banks are buyers of physical gold, not sellers.
4. Bullion banks are covering their shorts on price retreats, not piling-on.
5. Yields in economically important parts of the world are negative, not positive.

. . . and lots more make the link below well worth the time to read. Don't miss the NotableQuotable section at the bottom.

http://news.goldseek.com/GoldSeek/1570568355.php
 

louky

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What's different this time is the lower box, 1359-1395 after many, many, many attempts for years and years and years. To expect it to only go straight up now with no corrections is foolish, imo, but we'll see

Screenshot_20191009-064427_Samsung Internet.jpg
 
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Strawboss

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Zed

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What Makes This Gold Market Rally Different from All Others
Headline snips. More detail about each in the article. . .
1. It is led by institutions and funds, not private investors.
2. Day-to-day price reversals often originate in Asia and Europe, not just the United States.
3. Central banks are buyers of physical gold, not sellers.
4. Bullion banks are covering their shorts on price retreats, not piling-on.
5. Yields in economically important parts of the world are negative, not positive.

. . . and lots more make the link below well worth the time to read. Don't miss the NotableQuotable section at the bottom.

http://news.goldseek.com/GoldSeek/1570568355.php
We have shifted gear. It happened back around the time I changed my avatar... this just feels alive now.
 

Zed

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What's different this time is the lower box, 1359-1395 after many, many, many attempts for years and years and years. To expect it to only go straight up now with no corrections is foolish, imo, but we'll see
Yeah, never going to happen. However the corrections will change enough to negate what you have learned about gold market corrections over the last few years. This is what markets do! You will not survive by fighting the last war.
 

Strawboss

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Goldhedge

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Saw this, job openings over s&p
Signs all over town.

Reminds me of 2005-6... told the wife just the other day...

We went to Wendy's for chili... guy behind the counter was just a bit 'off'... special needs kind of person.

Said that it reminded me of back then... all the intelligent types have moved up and out for better paying positions and they're scraping the barrel for employees...

sign on the door "We're Hiring!"
 

Strawboss

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Still waiting for Armstrongs scenario where the DIA will rise more than the others as the global flight to safety takes place...and eventually - everything will rise with a rising dollar...