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Charts from the Lunatic Fringe.

Zed

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Either way, miners, nothing has changed. still see no reason to be in them on any time frame..we're days or weeks away from a correction, imo and they are stocks after all
No, I mean why would you. They are making more money after all... much better to buy WeWork or some other techy cash burner. Hang on a sec... wasn't that a reason to stay away from junior gold... cash burners... hmmmmmmmmmmm. Oh well, dividend cheques due soon, that is another years expenses taken care of.

Watch and wait... there is time left in the process yet.

JMO.

 

Zed

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my ma "paas" is up today on a sea of red. but that alone didn't save my day though.
My portfolio was up and my targets where down, rarely works out that way. You know, cause life is a b....
 

Zed

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Gold USD Daily - If the chart holds up we are looking @ around the week after next for a buy. Opinion subject to variability over time! :D:p

AUUSD-D-20191108-1.png
 

nowon

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louky - the last times the 10 yr was at 2.25 gold was under $1400 (chart below has 10 yr in purple line on left axis and gold on right axis) ....

Do you have any comments on how a rate increase is likely to manifest in gold price?

Screenshot 2019-11-08 at 04.28.58.png
 
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louky

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No, I mean why would you. They are making more money after all... much better to buy WeWork or some other techy cash burner. Hang on a sec... wasn't that a reason to stay away from junior gold... cash burners... hmmmmmmmmmmm. Oh well, dividend cheques due soon, that is another years expenses taken care of.

Watch and wait... there is time left in the process yet.

JMO.

They can all be bought lower
 

itsamess

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Gold down some more again today along with 10 yr bond dumping...
China says it has agreed with the US to cancel existing trade tariffs in phases

More mañana ?
Stocks making the biggest moves after hours: Zillow, Disney, Gap and more
Published Thu, Nov 7 20195:51 PM EST

Oil Gains for a Third Day Amid U.S.-China Trade Deal Optimism
(Bloomberg) -- Crude climbed for a third day as investors remained optimistic that the U.S. and China are moving closer to signing a trade deal.

Futures advanced much as 1.7% in New York on Tuesday and are on track to close at the highest level in six weeks. China is reviewing locations in the U.S. where President Xi Jinping would be willing to meet his counterpart Donald Trump to sign the first phase of a trade deal, according to people familiar with the plans.

“The U.S. seems more willing to roll back existing tariffs and the fact that they’re talking about that and looking to get something done for this phase-1 deal is going to move oil,” said Josh Graves, senior market strategist at RJ O’Brien & Associates in Chicago. “If everything stays the course and nothing changes in regards to the trade deal, you’re going to continue to see buying interest in the market.” Might as well add you're going to see selling interest in the PM market. There, as good a reason for a beat down as any real reason.

Crude is still down about 14% from a peak at the end of April as the spat between Beijing and Washington has threatened the demand-growth outlook. In addition, OPEC cut its estimates for the amount of oil it will need to pump in the coming years, projecting that its share of world markets will shrink until the middle of the next decade amid a flood of U.S. shale supplies.

China is seeking to roll back U.S. tariffs on as much as $360 billion of Chinese imports before President Xi agrees to signing a partial trade deal, according to people with familiar with the matter. Negotiators asked the Trump administration to eliminate tariffs on about $110 billion in goods that were imposed in September and lower the 25% tariff rate on about $250 billion that began last year, said some of the people.

“All eyes are on the U.S. to see whether the Trump administration would remove existing Chinese tariffs ahead of signing the Phase 1 trade deal,” PVM Oil Associates analyst Tamas Varga wrote in a report, adding that “the short-term direction will be partly influenced by the upcoming weekly U.S. inventory data.”

West Texas Intermediate for December delivery rose 74 cents to $57.28 a barrel at 10:42 a.m. on the New York Mercantile Exchange.

Brent for January settlement edged higher by 90 cents to $63.03 on the London-based ICE Futures Europe Exchange. The global benchmark crude traded at a $5.64 premium to WTI for the same month.

Brent’s nearest timespread traded in its strongest backwardation since September, an indication of tight supply.

Meanwhile, in the U.S., crude stockpiles probably rose by 2 million barrels last week, according to the median estimate of analysts surveyed by Bloomberg. The industry-funded American Petroleum Institute will release its weekly oil-inventory report later on Tuesday, while the Energy Information Administration will release its tally on Wednesday.

--With assistance from Alex Longley.
 

Goldhedge

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what a fricking soap opera...

View attachment 145609
I've come to the conclusion that whatever the MSM reports as 'being the reason' the market does anything at all I plug my ears and say ...

Screen Shot 2019-11-07 at 4.30.53 PM.png


Can't trust their explanation no way no how....
 

Zed

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Big hits coming in the gold stocks down here today. Must be close to capitulation time, shopping list is getting dusted off for the next week or so.
 

Zed

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They can all be bought lower
Sure, but I need a 30% correction for it to be tax effective on most of my issues so... meh!

In the long run here it will not matter at all, like I said we are coming up to a buy IMO.
 

itsamess

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Big hits coming in the gold stocks down here today. Must be close to capitulation time, shopping list is getting dusted off for the next week or so.
Wow 5-9% down is that right?
 

Zed

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Wow 5-9% down is that right?
Yeah, that is about the range, -6.62% for my average today! A little ouchy, the shorts have come out to play. The upside is if they don't get the liquidity that they are seeking we could come back in a hurry but for now it hurts a little... but my targets are getting cheaper!
 

savvydon

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Yeah, that is about the range, -6.62% for my average today! A little ouchy, the shorts have come out to play. The upside is if they don't get the liquidity that they are seeking we could come back in a hurry but for now it hurts a little... but my targets are getting cheaper!
Big question for me is whether you lot down there are ahead of the US curve today or behind it. Usually I feel like you are ahead of the curve. If today was an orchestrated paper bank beatdown then perhaps you all are just getting around to responding to it now.

It wonder if the bankers emptied both barrels today or is there more punishment in store for us tomorrow as we close the week?
 

Zed

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Big question for me is whether you lot down there are ahead of the US curve today or behind it.
I think we are ahead of it this time. Not always but often... IMO if there is weight behind the move we often go first, Sunday night calls from head office in the US for our Monday opening etc...
 

Zed

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It wonder if the bankers emptied both barrels today or is there more punishment in store for us tomorrow as we close the week?
They are going to need to push until they get liquidity to cover... or it becomes evident that there isn't enough, then its a panic cover.

Volume spiked a bit today so I'm guessing it will play out over the week or two that I think is left in this. Chart based WAG.
 

Zed

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Apparently the rinse and repeat cycle now has spin as well.
 

Strawboss

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Strawboss

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Goldhedge

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Gold has been on the back burner for a long time.

So long, one would think that gold is a non issue, yet they continually beat the snot out of the red-headed stepchild, proving once again they fear it greatly...
 

louky

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Seeing this drawn on all the blogs and gold pumper sites now....doesnt seem like such a good plan any more like it did back in august before they all saw it

20190911_161933.png
 

Strawboss

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What's alternate about it? Looks like you drew a bounce zone in the bounce zone :p
I was referring to your little gray box...