• "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
2,537
Likes
2,473
Oversold, needs @ least a bounce.
Yes, the chart is concerned with the long term, not the short term.
 

dpong

Gold Member
Gold Chaser
Joined
Jan 11, 2012
Messages
2,537
Likes
2,473
Some corrections just go sideways and eat up time. Just sayin'.
 

dpong

Gold Member
Gold Chaser
Joined
Jan 11, 2012
Messages
2,537
Likes
2,473
MSFT just broke structure defined on the 50 DMA momentum chart.

Face it. Many/Most market leaders recently made a lower high.

Higher highs and higher lows = Walking Up the Stairs.

Lower highs and lower lows = Walking Down the Stairs.

[The broad market is turning lower. #MarketLeaders Walking Down the Stairs.]

mro9CCL5.png
 

dpong

Gold Member
Gold Chaser
Joined
Jan 11, 2012
Messages
2,537
Likes
2,473
Miners need to go along for the ride. Should be one more push up then the trap door but in bull markets the surprises can be on the upside. Would not chase here though.
I agree. We're not at a place to chase.
 

Voodoo

Gold Member
Gold Chaser
Site Supporter
Joined
Mar 31, 2010
Messages
1,960
Likes
2,522
Location
Deep Underground Bunker
One thing that I think I've learned is something that new investors always get wrong. Looking through the Yahoo boards and Dave Portnoy's tweets they All blame any down side on short sellers. They completely fail to grasp that every transaction has BOTH a buyer and seller. So as Zed noted a top comes when you've run out of buyers, and conversely a bottom when there are no sellers left.
 

Voodoo

Gold Member
Gold Chaser
Site Supporter
Joined
Mar 31, 2010
Messages
1,960
Likes
2,522
Location
Deep Underground Bunker
MSFT just broke structure defined on the 50 DMA momentum chart.

Face it. Many/Most market leaders recently made a lower high.

Higher highs and higher lows = Walking Up the Stairs.

Lower highs and lower lows = Walking Down the Stairs.

[The broad market is turning lower. #MarketLeaders Walking Down the Stairs.]

View attachment 173746
A Lot of air under those breaking support lines.
 

oldgaranddad

Platinum Bling
Platinum Bling
Midas Supporter ++
Joined
Feb 21, 2012
Messages
5,618
Likes
10,415
Location
On the top shelf.
1595598998979.png


Broke $1,900! How long will it stay above and can it hold above that until the close?
 

dpong

Gold Member
Gold Chaser
Joined
Jan 11, 2012
Messages
2,537
Likes
2,473
A Lot of air under those breaking support lines.
I think the major trend has changed in the broad market. That is what the momentum tools are really good at noticing.
 
Joined
May 10, 2020
Messages
418
Likes
452
Location
Down South
I think the major trend has changed in the broad market. That is what the momentum tools are really good at noticing.
Should be interesting to see if the SPY can take out 295 if it indeed is going much lower. I think the trend is still up though and the SM needs a breather before going higher. Not for me though.
 
Joined
May 10, 2020
Messages
418
Likes
452
Location
Down South
David Brady has been calling for a top for the last month. Where were your mining shares trading mid June? SILJ ran from 10-11 to over 15. Be your own guru these guys talk out of both sides of their mouth and get paid to do it. Listen to his interview on Paradise Radio on YouTube. Scratch your head. Makes a lot of money working for Sprott but the analysis is juvenile.
 

hernancortes

Gold Member
Gold Chaser
Joined
Apr 1, 2010
Messages
1,472
Likes
1,398
David Brady has been calling for a top for the last month. Where were your mining shares trading mid June? SILJ ran from 10-11 to over 15. Be your own guru these guys talk out of both sides of their mouth and get paid to do it. Listen to his interview on Paradise Radio on YouTube. Scratch your head. Makes a lot of money working for Sprott but the analysis is juvenile.
You aint lyin'. Last month or so I've held off going deeper into SILJ and GDX based partly on this guys analysis. I'd also say he's not the best at taking criticism either.
 

Voodoo

Gold Member
Gold Chaser
Site Supporter
Joined
Mar 31, 2010
Messages
1,960
Likes
2,522
Location
Deep Underground Bunker

Goldhedge

Moderator
Site Mgr
Sr Site Supporter
GIM Hall Of Fame
Joined
Mar 28, 2010
Messages
51,425
Likes
94,745
Location
Rocky Mountains
Coming to a mine near you...

Screen Shot 2020-06-19 at 8.06.28 PM.png
 

Strawboss

Apocaloptimist
Site Mgr
Midas Member
Site Supporter ++
Joined
Mar 31, 2010
Messages
8,446
Likes
16,747
This is what scares me about using deep out of the money calls on miners...

If one of them gets bought out - even at a 30% premium - that would be below some of my LEAP strikes...

My solution is to be heavily weighted into the GDXJ and GDX. I am waiting for liquidity in the SILJ options to pick up so I can play there too...
 

Varmint Hunter

Gold Member
Gold Chaser
Midas Supporter ++
Joined
Apr 10, 2010
Messages
2,197
Likes
7,942
Savage:
 

dpong

Gold Member
Gold Chaser
Joined
Jan 11, 2012
Messages
2,537
Likes
2,473

Zed

The Bullish Bear.
Midas Member
Site Supporter ++
GIM Hall Of Fame
Joined
Mar 30, 2010
Messages
17,732
Likes
18,065
Location
Watching the Sideshow!
@ a high of 1949.90 in Dec 20 gold which is now the most active contract as we move toward the August delivery window with first notice being this Friday 31 Jul 2020.

We appear to be setting USD records... I wonder if this has legs or we are in for a SMASH down tonight (my time) on the Comex. ASX Gold Tribe are pushing toward +4% @ ~1:00PM with ~3:00hrs on the clock for the day. Not bad, not sad but not dizzy euphoria.


Hmmmmmmmmmmm....?!
 

Cigarlover

Midas Member
Midas Member
Midas Supporter
Joined
Dec 18, 2011
Messages
8,515
Likes
17,073
we just skipped 23 i guess. :):2 thumbs up::beer:
 

Zed

The Bullish Bear.
Midas Member
Site Supporter ++
GIM Hall Of Fame
Joined
Mar 30, 2010
Messages
17,732
Likes
18,065
Location
Watching the Sideshow!

Zed

The Bullish Bear.
Midas Member
Site Supporter ++
GIM Hall Of Fame
Joined
Mar 30, 2010
Messages
17,732
Likes
18,065
Location
Watching the Sideshow!

Zed

The Bullish Bear.
Midas Member
Site Supporter ++
GIM Hall Of Fame
Joined
Mar 30, 2010
Messages
17,732
Likes
18,065
Location
Watching the Sideshow!
15,770 July SI Delivered with 1,031 open. Must be resolved this week!

Shooting for 16,801!