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The Lunatic Fringe - Trading talk.

Zed

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I think that weekly BTC will crack that 11454 level if this is a runaway move in gold and silver.

BTCUSD-W-20200728.jpg
 

Zed

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BTW the December gold contract printed $2000!

Brief but it got there!
 

Uglytruth

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Why so little attention paid to China & Russia stockpiling metals? If you think that is a financial reset. How does that factor in?
 

Zed

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Why so little attention paid to China & Russia stockpiling metals? If you think that is a financial reset. How does that factor in?
I think that nobody will take it seriously until they can see a deep enough sophisticated financial market to rival the US. Nobody is even close at this point in time. Their gold is more of a negotiating chip than anything, for now you are still king of the hill for the foreseeable future.
 

Zed

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chieftain

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Why so little attention paid to China & Russia stockpiling metals? If you think that is a financial reset. How does that factor in?
The question I'm asking is, who in China and Russia is stockpiling metals?
 

dpong

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Good morning. So the metals finally broke the parabola! Good. Let's go slow and steady for a while.
 

dpong

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A young bull and a wise old bull stood atop a canyon looking down on a valley of heifers. The young bull said to the old, "Hey let's run down there and [blank] one of those heifers." The old bull sighed and said "No son, let's walk down there and [blank] them all."
 
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Smells like a turn some miners actually made new highs today. That early morning low in Silver $22.30 approximate is probably fairly close to the ultimate bottom. Gonna probably take some time but there is support on the way down to the $19 area.
 

dpong

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Tech darlings are looking weak.

[Sure, that could change.]

GVlACgtb.png
 
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dpong

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My Weekend Trend Trader stock scanner came back with OWENS & MINOR INC. (OMI) on Friday. I don't know anything about this company and I am 100% invested so I'm not going to purchase it. My friend who is also using the WTT system did buy it on Monday morning. He asked me about it and I said that I thought the chart looked reasonable, no reason not to make the purchase.

Today I was playing around and I made an annual momentum chart of it. Annual momentum means monthly price chart oscillated around the 36 month moving average. What I found was something like a break of momentum structure that has held for 11 years! If I'm even doing this correctly the longer (older) the structure the more auspicious the eventual move can be.

Don't trust me on this. I'm just fooling around.

rVlTQgA0.png
 

dpong

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Still in playing around mode. Using this charting technique, most of the previous vicious down draft could have been avoided by paying attention to the annual momentum structure pictured here:

[Something like an 18 year long structure.]

JTwN9n7J.png
 

dpong

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Playing around with OMI - similar results could have been achieved with a P&F chart.


chart-12.png
 

nowon

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FYI

Owens & Minor, Inc., together with its subsidiaries, operates as a healthcare solutions company in the United States and internationally. It operates through two segments, Global Solutions and Global Products. The Global Solutions segment offers a portfolio of products and services to healthcare providers and manufacturers. Its portfolio of medical and surgical supplies includes branded products and its proprietary products. This segment also offers services to healthcare providers, which include supplier management, analytics, inventory management, and clinical supply management; and various programs to provide logistics and marketing solutions to its suppliers. The Global Products segment manufactures and sources medical surgical products for the prevention of healthcare-associated infections across the acute and alternate site channels. This segments products portfolio includes sterilization wraps, surgical drapes and gowns, facial protection products, protective apparel, medical exam gloves, custom and minor procedure kits, and other medical products. The company provides its products and services to multi-facility networks of healthcare providers, independent hospitals, surgery centers, physicians’ practices, and networks of hospitals directly, as well as indirectly through third-party distributors. Owens & Minor, Inc. was founded in 1882 and is headquartered in Richmond, Virginia.
 

dpong

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I’m not recommending the stock to be clear. If WTT bought that stock it would manage it such that it would sell the losers and let the winners run. That is how WTT makes money. I’m just fooling around with various TA techniques.
 

Zed

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Tech darlings are looking weak.

[Sure, that could change.]

View attachment 174320
Volume is tapering, could well be high level consolidations that will break higher. Some REALLY smart people are long gold and tech in hedge fund world.
 

dpong

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Volume is tapering, could well be high level consolidations that will break higher. Some REALLY smart people are long gold and tech in hedge fund world.
To your point, SILJ was doing a high level consolidation just before it went berzerk. In that down channel, SILJ looked just like MSFT and AMZN look right now.

[We'll see sooner or later. BTW, not expecting tech to suddenly go berserk, just that they could indeed resume moving higher.]

RUXNJbpo.png
 

Zed

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Soft down here for the ASX Gold Tribe @ ~-2% as it was up there they are nervous about these new highs.

Is now a good time to mention Nenner's cycle target of 2.5K? (Just keepin tabs on him!)
 

jelly

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Regardless if we've topped, or if we go higher, it's been one heck of a run. I closed my largest % gain ever on this run up. Some MAG call options I bought at the March lows. Options prices at the time were going bonkers, with wide spreads and extreme premiums. I think the spread on these at the time was buy: $.10 sell: $.90.
I put a bid in at $.20 since I thought that was fair given the price of the underlying stock, which ended up filling after a long wait.
Bought them at @ .20, Sold them @ $4.00. A 20-bagger in 4 months.
Crazy times, but here's to profits. :beer:
 

Varmint Hunter

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nicoya research.png
 
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To your point, SILJ was doing a high level consolidation just before it went berzerk. In that down channel, SILJ looked just like MSFT and AMZN look right now.

[We'll see sooner or later. BTW, not expecting tech to suddenly go berserk, just that they could indeed resume moving higher.]

View attachment 174335

Unless the metals start to break down soon I can see 19 or even the old highs before a meaningful retrace.
Still think they make an attempt to close at least one of those gaps. $12.50-$13.50 looks like a good landing area. The 50 day MA is moving up nicely.
 

dpong

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Weekly Trend Trader for purchase on Monday (yesterday) had at the top of the list Tupperware (TUP). My friend bought it. I could not because I'm 100% invested already.

Weekly chart of Tupperware:

[The buy was at $9.12. My friend caught a live one.]

5C1YoXPH.png
 

Goldhedge

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Weekly chart of Tupperware:
What's the attraction here?

Nobody eating out anymore, so they make enough at home and store it??
 

dpong

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What's the attraction here?

Nobody eating out anymore, so they make enough at home and store it??
Probably. I think they had earnings report that surprised to the upside.

But Weekend Trend Trader system didn't know anything about that. It just looked at price data.

[It was luck.]
 
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Zed

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Probably. I think they had earnings report that surprised to the upside.
Baking and comfort eating! Apparently one of the pitfalls for the gal's working from home is procastibaking! Who knew? LOL
 

FlaGman

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Weekly Trend Trader for purchase on Monday (yesterday) had at the top of the list Tupperware (TUP). My friend bought it. I could not because I'm 100% invested already.

Weekly chart of Tupperware:

[The buy was at $9.12. My friend caught a live one.]
I mentioned the Tupperware stock to my wife yesterday after you posted your chart as something she might be interested in taking a look at (like you, I am fully invested right now). I didn’t think she would do anything with the tip, as she is not very impulsive.

I just casually told her the stock went up 67% today. She says “Really? I bought 200 shares-I should have bought more!”.

Not a whole lot of money, mind you, but it may get me laid tonight. Thanks, dpong!
 

dpong

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dpong

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I worked up an annual momentum chart for my friend on TUP. Annual momentum breakouts can be powerful, I'm told.

WcYseHWz.png
 
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I mentioned the Tupperware stock to my wife yesterday after you posted your chart as something she might be interested in taking a look at (like you, I am fully invested right now). I didn’t think she would do anything with the tip, as she is not very impulsive.

I just casually told her the stock went up 67% today. She says “Really? I bought 200 shares-I should have bought more!”.

Not a whole lot of money, mind you, but it may get me laid tonight. Thanks, dpong!
Spoken like a long time married man. :tired:
 

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Not a whole lot of money, mind you, but it may get me laid tonight. Thanks, dpong!
May your flag fly strong and last long...
 

jelly

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I thought all eyes would be on the FOMC meeting today. However, I think by far the most impactful "Fedspeak" is going to be the 2nd quarter GDP results, released tomorrow morning.
This is going to be the fastest slow-down the US has ever recorded since records began in the 1940's. Alot of wild expectations regarding this number, so I'd expect significant volatility tomorrow in all markets.
 

Zed

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SI July Deliveries 17294 with 596 contracts still open with two trading days left.

Friday is first notice for Aug Gold... wondering just how big it will be.
 

Zed

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