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The Lunatic Fringe - Trading talk.

Au-myn

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So, here is a look at silver on a 3 x 1 scale P & F chart.

Bearish signal formation (red) sell signal at 14 fails.

Next is what I call a #3 Double Top formation (green) (O,X,O,X.) Over the years I have found this pattern at or near market bottoms. Note the buy signal at 20 violated the LT bearish resistance line, turning silver bullish. Well, it's about damn time!

Several formations prior to this reversal noted are the Formations in Combination sell signal at 18 which is a continuation pattern from the bearish signal above. Next is a #3 Double Top formation - a reversal pattern that petered out at 21 setting up the bearish signal.

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Zed

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Zed

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Been thinking they were working towards a one world currency / control for a long time.
How do you get everyone to play nice together is what I could never figure out.
It would take control of EVERY country away.
No more politics as it will be world domination at that point.
Has to be a long way away, gov crypto first I think.
 

Uglytruth

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Nope Robinhood kiddy FOMO! TSLA same.
At what point do the Robin hood gang start to wonder & start selling? Seems 1 flat day & the sky will fall.
 

Zed

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At what point do the Robin hood gang start to wonder & start selling? Seems 1 flat day & the sky will fall.
I don't think they do, it looks manic which is to say it will last until their money runs out! Bit like a big night on the town.
 

Zed

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Sprott Silver Trust To Purchase $1.5 Billion Of Physical Silver, A Jaw-Dropping 8.8% Of Annual Global Production!
 

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Zed

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July Silver 14974 contracts delivered, no OI yet, still on Friday's number.

INTENT DATE | DAILY TOTAL| CUMULATIVE

06/29/2020 11,458 11,458
06/30/2020 810 12,268
07/01/2020 744 13,012
07/02/2020 28 13,040
07/06/2020 213 13,253
07/07/2020 203 13,456
07/08/2020 37 13,493
07/09/2020 165 13,658
07/10/2020 245 13,903
07/14/2020 16 13,919
07/15/2020 752 14,671
07/16/2020 67 14,738
07/17/2020 115 14,853
07/20/2020 121 14,974
 

Zed

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December Gold Option snap shot.
 

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Zed

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December Silver Option snap shot.
 

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Zed

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July Silver 14974 contracts delivered, no OI yet, still on Friday's number.

INTENT DATE | DAILY TOTAL| CUMULATIVE

06/29/2020 11,458 11,458
06/30/2020 810 12,268
07/01/2020 744 13,012
07/02/2020 28 13,040
07/06/2020 213 13,253
07/07/2020 203 13,456
07/08/2020 37 13,493
07/09/2020 165 13,658
07/10/2020 245 13,903
07/14/2020 16 13,919
07/15/2020 752 14,671
07/16/2020 67 14,738
07/17/2020 115 14,853
07/20/2020 121 14,974
1,487 still open in July implying 16461 as a potential for the month.
 

jelly

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Zed, what are the Aussie miners doing today? Silver busting a move overnight, and I'd like to know what your seeing down there.

Also, I hate it when the metals make strong moves overnight. Usually means a beat down during the New York session will follow.
 
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Zed

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Zed, what are the Aussie miners doing today? Silver busting a move overnight, and I'd like to know what your seeing down there.

Also, I hate it when the metals make strong moves overnight. Usually means a beat down during the New York session will follow.
Mid +3% range in my universe!
 

Zed

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Also, I hate it when the metals make strong moves overnight. Usually means a beat down during the New York session will follow.
Welcome to my world, every single freakin night we hang on what you lot get up to!
 

Zed

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Zed, what are the Aussie miners doing today? Silver busting a move overnight, and I'd like to know what your seeing down there.

Also, I hate it when the metals make strong moves overnight. Usually means a beat down during the New York session will follow.
EOD +~4.5%
 

jelly

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Chilling statement towards the end.

I've been saying the same things. The world has moved to "just-in-time" delivery models for nearly all products, as the 'latest and greatest' business model. As a result, In a matter of hours, anything and everything can be completely unavailable. These days, as soon as a product is made, it heads directly to the consumer. There are no warehouses full of products waiting to be shipped like there was 40 years ago, that could be utilized in time of need. Someone correct me if I'm wrong, but If I remember correctly from what I was taught in college: 40 years ago, there was an average of 3 days worth of products sitting in warehouses waiting to be shipped. Simply because that is how the business models worked back then. Now it's much, much less. Businesses have cut out warehousing as a way to save money. Products now head straight to the store shelves as soon as it is boxes up in the factory. For many items, what you see on the store shelves is all you get.
So when a real crisis happens - and it will - we are all screwed. Many people consider the preppers crazy, but really they are the smart ones. You have to be prepared for anything. If you aren't prepared, then you're gonna starve like the rest of the world.
 

Voodoo

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Right at resistance levels as posted here and given by MA. He thinks this should be a turning point in July. But if we close here or slightly higher than all bets are.off.
 

jelly

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The classic problem: When to sell?
I see alot of profit taking in the miners today, and rightfully so. That's doesn't mean we stop here though.
Zed, what are you thoughts on this move? ending soon?
 

dpong

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Gold euphoria phase.

 

dpong

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I'm holding through the upcoming pullback.
 

Varmint Hunter

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Not PMs, but an interesting chart nevertheless.

gun purchases background check.jpg
 

Goldhedge

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Goldhedge

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At what point do the Robin hood gang start to wonder & start selling? Seems 1 flat day & the sky will fall.
What's the story with the Robin Hood gang? What am I missing?

The classic problem: When to sell?
Might not be a time to sell.... for a loooong time...
 

dpong

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Goldhedge

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Robinhood traders are the script kiddies of the investing world
I was just getting used to being a white supremacist, now I have learn what script kiddies means?
 

dpong

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Silver is going to run to 21 or 22. What does that do for PAAS? ;)
I used the term “is going to run...” Not “might run”. That is not usually how I speak. I usually hedge a little.
 

Strawboss

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The handle on the biggest cup/handle you will ever see has been completed...

Now comes the fun...

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