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The Lunatic Fringe - Trading talk.

Zed

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The grand solar minimum is here and will last until the 2050's. I'm moving to a lower latitude.
 

Goldhedge

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dpong

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This is kind of what gold looked like before it broke higher.

[Edit: redrew the lines using closing prices.]

tvULLKW5.png
 
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FlaGman

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I am somewhat disappointed today, metals looked so good overnight I thought the mining stocks would skyrocket today. Fortunately I am well diversified- I have silver and gold! Seems strange to have the ugly step sister holding up the pretty one for a change.
 

dpong

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In the S&P 500 chart I posted today there is a box, which I usually take to be a continuation pattern. Regarding prices in that box, today the S&P made a new high and a new closing high. However it closed slightly below the previous high's high, if that makes sense. Trying to break higher, but not exactly feeling the wind in its hair yet.
 
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Strawboss

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It’s only one day...but the miners held up today pretty well considering the day gold had...and silver was actually up...

But...as mentioned...it’s only one day...
 

Lancers32

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In the S&P 500 chart I posted today there is a box, which I usually take to be a continuation pattern. Regarding prices in that box, today the S&P made a new high and a new closing high. However it closed slightly below the previous high's high, if that makes sense. Trying to break higher, but not exactly feeling the wind in its hair yet.
Strange innit? It is a triple top in a sucker's rally or it isn't. I'm going with triple top but if we can close two days over 300SP then something else is going on. Like a bull market making the move into March 23rd off the Feb hi a shakeout of massive proportions. None of this has anything to do with the black plague so business conditions earnings or anything like that mean squat.
 

wmb67

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Louky, I'm no expert chartist, but the oscillators seem like there's some room to get up and over the downtrend line and maybe clear .0031 from 4/08/20.
Then smooth sailing til .0045 and beyond... or maybe it kisses the uptrend line first around .0018 again.
Thanks for posting up your trading ideas - it's always nice to see what other folks are thinking and doing.

GGSM_Barchart_Interactive_Chart_05_18_2020.png
 

Zed

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Louky, I'm no expert chartist, but the oscillators seem like there's some room to get up and over the downtrend line and maybe clear .0031 from 4/08/20.
Then smooth sailing til .0045 and beyond... or maybe it kisses the uptrend line first around .0018 again.
Thanks for posting up your trading ideas - it's always nice to see what other folks are thinking and doing.

View attachment 165725
Cough, cough...
 

Zed

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That SPX charts is a gappy, bouncy mess of a decline... I don't think I have ever seen a crash play out like that. Almost no sequential red days for the bulk of it. It has the hands of government all over it!
 

Zed

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That SPX charts is a gappy, bouncy mess of a decline... I don't think I have ever seen a crash play out like that. Almost no sequential red days for the bulk of it. It has the hands of government all over it!
Seriously, go back and compare it with other crashes.
 

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GSR internals are down to a level that should produce a bounce. Nice breakdown but faster than expected.
 

dpong

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Well this is timely.

[And the Fed and PPT can drive it even further.]

EYWRnS_UYAAWfUf.jpeg
 

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290SPY is an important level to hold in the short term if we are going to move higher IMO. Everybody knows the Fed will do whatever they can to prop this up. Crossing and closing over the triple top under normal conditions would indicate much higher prices but with this totally manipulated mess who knows? Place your bets.
 

dpong

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Retirement funds went long when SPX monthly closed above 20 month moving average at the end of April. Not confident, but so far so good.

DQUzEjug.png
 

Lancers32

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Since the SPY has managed to capture the .618 of the range from Feb to the March lo it might be looking for the next level 325ish. There is a gap they might want to fill and it could want to test the top of the break down candle on the weekly.
 

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dpong

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I have AG. I said something and deleted it because I was confusing SIL SILJ, with SLV. So comment was not applicable.
 

dpong

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We have not achieved liftoff. In my portfolio we were having a very good rip-roaring day, and then suddenly it changed to sour.

[Did some talking head say something?]

7u5Qmgs5.png
 

Lancers32

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I think the 8 person drug test did not go very well. Not much of a rejection off the top after such a strong day yesterday though at all. 288-290 worst case my best WAG if we do even go lower from here. Like Frankenstein.
 

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