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The Lunatic Fringe - Trading talk.

Strawboss

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Commercials were short the Gold market before the big runup to $1920 a few years back.
Commercials - with RARE exceptions...are always short. They are selling future production to lock in a price that is favorable to them.
 

Zed

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Yes, except for the commercials that don't produce anything, the bullion banks, which are the largest part of the segment dollar wise.

Ideally commercial should be broken down into producers and financials or dealers. That way we get a much better idea of what's happening with the miners.
 

Goldhedge

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No recovery possible, the longer they use those policies it only gets worse
Powell is trying to appear independent from the White House.
 

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Zed

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BTC-USD with the NASDAQ 100 overlaid.

It trades like a tech ETF!

BTC-N100.gif
 

Zed

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Voodoo

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Voodoo

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BTC-USD with the NASDAQ 100 overlaid.

It trades like a tech ETF!

View attachment 165144
They have the same buyer. Young techies who are as communist as the CCP. That and a few of the anarchists and libertarians who were the first users.
 

Voodoo

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Testing 279 again. Really hope that breaks soon.
 

Lancers32

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Would like to see a run to 282-284 first to suck in some longs. Looking for 265-270 in a couple of weeks here. Sentiment flipped pretty quick though is my only concern. Downside volume is very heavy % wise the past 2 days.
It appears we have satisfied upside targets if this is indeed a bear market rally. The A and C Legs are nearly identical. 218-264 243-294.

Whether we test 240 or 220 or break to new lows is the question. I could not be a buyer at these levels with a double tap high and a rejection of those levels.
 

dpong

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Yee haw, maybe.

f8YqYae2.png
 

Goldhedge

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dpong

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Curtman

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does anybody remember when the mid-to-late 70s before the Hunt Brothers tried to corner the market another guy did it and almost had it on silver. Seems like were from Thailand or somewhere
 

Zed

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Zed

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Zed

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Gold USD Daily - I'd say the break is going to happen. The internals look like we have plenty of room to move. Using the panic low as the base of the flag pole up to the current consolidation levels we can project a probable target of 100% move to 2008 (?! LOL) and an outside chance of a 161.8% move to 2181 with the 'run away' move of 261.8% being 2461.

2007 is a Rule of 9 pivot.
2196 is the top of a box.
2493 is the top of a box.
Nenners cycle high is 2500 for this rally.

Buy your tickets, place your bets and take your seats. This show looks like it is about to start.

XAUUSD-D-20200514-1.gif
 

Zed

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Silver Daily - Basically the same exercise only it looks like silver is leading here.

XAGUSD-D-20200514-1.gif
 

savvydon

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Gold USD Daily - I'd say the break is going to happen. The internals look like we have plenty of room to move. Using the panic low as the base of the flag pole up to the current consolidation levels we can project a probable target of 100% move to 2008 (?! LOL) and an outside chance of a 161.8% move to 2181 with the 'run away' move of 261.8% being 2461.

2007 is a Rule of 9 pivot.
2196 is the top of a box.
2493 is the top of a box.
Nenners cycle high is 2500 for this rally.

Buy your tickets, place your bets and take your seats. This show looks like it is about to start.

View attachment 165263
'another great post, Z. I'll also note that as of this evening gold seems to be moving smoothly up and through that little consolidation area it has been in for the past few weeks. Additionally, silver seems to be waking up. As I type it is back over 16, and the GSR seems to be breaking down, currently at 108. I think if we see silver make a move over the next 18 hours this will become early confirmation that the show is indeed about to start. Perhaps not coincidentally, the miners seem perched near a break out as well at the moment.
 

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BTW... on GDX the same %'s target 55.73, 65.19 & 83.72

 

Zed

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Smells like a reasonable chance of "game on"...

ASX Gold Tribe in the +3-4% area heading into "white collar panic hour"... errrr, um, you know. Lunch.
 

Zed

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Also, please note that the number of likes I have accrued here at GIM in my days as a member currently aligns with the rule of nines. Can it get any more real than that?!;)
I think I just broke it... LOL.
 

Voodoo

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anyone want to point me to the rule of nines as it pertains to market forecasting? I assume this is similar to the 3-6-9 thing and reference to the power of these numbers that Tesla started discussing.
 

Zed

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anyone want to point me to the rule of nines as it pertains to market forecasting? I assume this is similar to the 3-6-9 thing and reference to the power of these numbers that Tesla started discussing.
It's @louky 's box thing. Based on the addition of the price digits to 9. I have no reasonable explanation for why it should work but it seems to have some merit. @louky doesn't seem to have a 'why' either. Nine is just magic... so if you are cool with some mystic influences read on. Ask @andial about 9 and the Beatles and shtick if ya want. Gets all a bit peace love and acid for me.

This is a rough spreadsheet giving you the price box's and the pivots between them. I think it is correct but as we get to these higher numbers I think I have to do a little more work on it, a second round of number addition might be needed.

@Strawboss made one up as well, he may post it for you. It should be the sames as mine unless one of us has screwed the pooch.
 

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Zed

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@louky

So what happens with this Rule of Nine thing now we are hitting numbers that add to 27, 18 was the box with the first 9 after being the pivot. Does 27 become the box with the first following 18 the pivot.

Thoughts?