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

The Lunatic Fringe - Trading talk.

dpong

Gold Member
Gold Chaser
Joined
Jan 11, 2012
Messages
2,379
Likes
2,216
In the markets I have observed that Strength begets Strength and Weakness begets Weakness.

A security that is weak will be punished.
A security that is strong will be rewarded.
 

dpong

Gold Member
Gold Chaser
Joined
Jan 11, 2012
Messages
2,379
Likes
2,216
For my friend sent him these charts. Blue arrows denotes where I bought AG & GDXJ. Not the bottom, but not bad either.

R0sTUG7j.png

rrTwUJCo.png
 

dpong

Gold Member
Gold Chaser
Joined
Jan 11, 2012
Messages
2,379
Likes
2,216
Somebody post a chart.
 

ErrosionOfAccord

#1 Global Warmer
Platinum Bling
Midas Supporter ++
Joined
Mar 30, 2010
Messages
4,475
Likes
5,693
Location
Coal Country
Joined
May 10, 2020
Messages
167
Likes
155
Location
Down South
A move up to that trendline in SILJ could be a backtest and a place to sell go short.

I prefer to use horizontal support resistance but trendlines can work just don't place as much faith in them.

This recent pattern of the stocks opening higher and drifting lower is short term negative at least.

Looks like a H&S watch how it reacts around 10ish. I would wait.
 

dpong

Gold Member
Gold Chaser
Joined
Jan 11, 2012
Messages
2,379
Likes
2,216
Yeah, those trend lines are dead. But breaking it was a failure. Bottom trend line already backtested, is my read. Expecting some more down time.
 

dpong

Gold Member
Gold Chaser
Joined
Jan 11, 2012
Messages
2,379
Likes
2,216
I have 200 AG at 6.07. Will watch for your exit. My little account is mostly how I pay my stupid tax but that one has been a winner for me.
Great buy! I'm not planning to exit for a good long while. I plan to ride this turbulence. I have a mental stop loss set 40% below AG's highest price since I purchased. That is a lot of lee-way. Also, maybe don't trust me too much. I'm just a guy.
 

dpong

Gold Member
Gold Chaser
Joined
Jan 11, 2012
Messages
2,379
Likes
2,216

louky

Silver Member
Silver Miner
Joined
Jun 8, 2014
Messages
9,984
Likes
6,803
Location
Bluegrass
Says i have 11 alerts to attend to but i havent had time to review them, i was too busy researching and loading the reviving Newmont aka NEM subsidiary under a dollar



 
Last edited:

dpong

Gold Member
Gold Chaser
Joined
Jan 11, 2012
Messages
2,379
Likes
2,216
Notice that while in the channel SILJ continued to make higher highs and higher lows all the way up the channel. By way of analogy I think about this action as “walking up the stairs” and is extremely common to see. (Imagine the motion of your foot while walking up stairs.)

However, just before it fell out of the channel SILJ made a lower high. The high did not go up above the previous high. And now today we can see that SILJ made a lower low as well. This I think of as “walking down the stairs.”

Anything can happen of course, but based on what I’m seeing I believe the trend is down for right now. We’ll see.

AytFanwj.png
 
Joined
Oct 16, 2010
Messages
444
Likes
284
J.P. Morgan thinks crude oil could hit $190/barrel by 2025. I have a hard time believing it. By then a lot of buses and trucks will be going to EV. The power grids are moving to batteries. I don't know...
 
Last edited:

Varmint Hunter

Gold Member
Gold Chaser
Midas Supporter ++
Joined
Apr 10, 2010
Messages
2,019
Likes
7,215
I hate a sideways grind like the miners have been doing. Pick a direction and go already! Sheesh.
Just remember: "the longer the grind the bigger the eventual move"
 

D-FENZ

Gold Chaser
Midas Supporter
Platinum Bling
Joined
Jan 24, 2011
Messages
2,780
Likes
6,537
https://www.barchart.com/futures/quotes/SIN20/interactive-chart

I'm not a technical chartist nor do I have any fancy charts to post, but it sure looks like the July silver chart is sporting what appears to be a bull flag. A run above 18 or so and it could be off to the races. But a dip to 17ish could get ugly.
YMMV.
 

dpong

Gold Member
Gold Chaser
Joined
Jan 11, 2012
Messages
2,379
Likes
2,216
For now...

vMvD1RBT.png
 

dpong

Gold Member
Gold Chaser
Joined
Jan 11, 2012
Messages
2,379
Likes
2,216
H&S notes that moment when a stock changes from walking up the stairs to walking down the stairs. From making higher highs and higher lows to making lower highs and lower lows. So for now...
 

dpong

Gold Member
Gold Chaser
Joined
Jan 11, 2012
Messages
2,379
Likes
2,216

JayDubya

pies klasy robotniczej
Midas Member
Midas Supporter
Joined
Apr 5, 2010
Messages
5,707
Likes
7,849
Silver Dollar to acquire First Majestic project
Jun. 19, 2020 12:44 PM ET|About: First Majestic Silver Corp. (AG)|By: Khyathi Dalal, SA News Editor

Silver Dollar Resources signed a letter of intent with First Majestic Silver (AG +5.7%) wherein Silver Dollar has the option to earn an initial 80% interest following the exercise of which it may earn an additional 20% for an aggregate 100% interest in the latter's La
Joya Ag-Cu-Au property located in the Mexican Silver Belt.

Silver Dollar will pay AG $1.3M cash over four years, issue shares equal to 19.9% of its then-outstanding common shares within one year. It will incur $1M of exploration expenditures within the first five years, and grant First Majestic a 2% net smelter returns royalty.
 

Goldhedge

Moderator
Site Mgr
Sr Site Supporter
GIM Hall Of Fame
Joined
Mar 28, 2010
Messages
50,280
Likes
91,453
Location
Rocky Mountains
The next wave...?


Chinese Gold Miners Continue Junior Shopping Spree
David Erfle
Friday June 19, 2020

(Kitco News) - As the 10-week sideways consolidation continues to build a floor in the gold price just below multi-year resistance at $1800, Chinese global gold miners are making all-cash offers for small-cap juniors at large premiums. This recent wave of Chinese deals for junior firms has come while government lock-downs are systematically being lifted in select mining jurisdictions.

After Chinese firm Zijin Mining Group Co., Ltd. completed the takeover of Canadian miner Continental Gold Inc for C$1.3 billion in early March, Shandong Gold Mining, one of China’s biggest gold producers, entered into an agreement to acquire Toronto-listed TMAC Resources (TMR.TO) for around C$230 million on May 8th. But the deal will be among the first pored over by Ottawa after it announced in April that it would bring “enhanced scrutiny” to bear on acquisitions by foreign state-owned investors in a period where the COVID-19 pandemic has driven down the value of companies.

Then last week, Zijin nixed a growing bidding war amongst Canadian based firms to acquire Guyana Goldfields (GUY.TO) for C$323 million, bringing an end to a protracted takeover battle for the Canada-listed junior gold miner. Toronto-based Guyana Goldfields announced on June 3rd that it had received a binding proposal from an unnamed overseas-based miner to acquire the company, valuing it around 35% higher than a previously accepted offer from Silvercorp Metals (SVM.TO).

more at link
 

Voodoo

Gold Member
Gold Chaser
Site Supporter
Joined
Mar 31, 2010
Messages
1,626
Likes
2,062
Location
Deep Underground Bunker
Thanks FED, these guys are literally picking stocks out of a hat, or scrabble bag. AND think they are good traders... I guess that works if you have 100,000 morons following your pick.


He ends up with Ratheon and knows absolutely nothing about it. Really. Why am I here trying to use logic and math, the people buying stocks are computers and complete morons.
 
Last edited:

jelly

Silver Miner
Seeker
Joined
Dec 6, 2010
Messages
1,017
Likes
889
Gold daily looks a bit better than the weekly. MACD and RSI both have plenty of upside room.
I was nervous about gold skating on the 50-DMA for the past 2 weeks, but we had a strong move off it on Friday, so it's looking more bullish to me at the moment.
gold-dailiy.png
 
Joined
May 10, 2020
Messages
167
Likes
155
Location
Down South
Thanks FED, these guys are literally picking stocks out of a hat, or scrabble bag. AND think they are good traders... I guess that works if you have 100,000 morons following your pick.


He ends up with Ratheon and knows absolutely nothing about it. Really. Why am I here trying to use logic and math, the people buying stocks are computers and complete morons.
You really think Portnoy is an idiot? Check out his net worth. The whole thing is an act. Check out some of his stuff on YouTube and see some of the trim he hangs with.