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The Lunatic Fringe - Trading talk.

Zed

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ASX Gold Tribe about ~+1% @ 1:00PM with 3:00 hrs left on the clock.
 

dpong

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I've extended the SILJ support trend line.

[This could get interesting...]

rQWrtQiL.png
 

dpong

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dpong

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Saville called it a mini-mania.

[I think he's right.]
 

nowon

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The dollar made a lower low today and broke a multi year uptrend recently..... continued MMT bullshit debasement and lower interest rates due to ridiculous debt
Screenshot_20200730-101454.png
 

Zed

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I am still concerned about the run into the election. Some BSD's seem to want Mr T gone.
 

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Zed

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Gloom...
 

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dpong

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Another stick save.

Window_and_AAPL_384_76_▲__1_21__Donchian_w__ATR.jpg
 

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Zed

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SI Closed out July with 17294 contracts delivered and has opened August (non delivery month) with 475! July is ~ 4x last December (Normally King delivery month!).

GC opened August with a solid 32,732 contracts up for delivery and 47,236 contracts still open! Meaning it is still quite possible that it hits the 90K mark that is suggested if the trend of the last two delivery months is maintained.

$64 Question is ---> How long can this pace be maintained?

+ I'm not really looking but the whole "Comex Default" theme isn't smacking me across the face like it was last time. I actually have seen a few Twitter comments saying that they will never default as they can deliver paper etc. Very different to last time.

So....

1. Any lack of delivery will be read by the market as a default, even if suppressed the news will get out that you can't get metal and that is all that is required.

2. We are closer now than ever before. That is to say IF it is going to happen now is the most likely time we have seen for it to happen.

Watching!
 

Zed

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Off ~-2% today with 2:00 hrs to trade. The ASX Gold tribe has a bout of weekend nerves. Been a while!
 

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Close at the end of the month is important. Some consolidation would be healthy I believe.
 

Zed

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Close at the end of the month is important. Some consolidation would be healthy I believe.
They will not want a strong close!
 

savvydon

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Close at the end of the month is important. Some consolidation would be healthy I believe.
They will not want a strong close!
I agree this consolidation the past couple of days seems healthy. We saw a run up to $26+ in silver and it would be healthy to come back down to $21.50/22 imo. That having been said this morning ahead of the London open we are kicking some ass with POG @ $1980 and silver back solidly above $24. The question is whether the monthly close will be slammed down with impunity or the markets will show where they are really at by running strong into the close. The next 15 hours may set the stage as to whether we get some summer chop next month or we keep running in light of what appears to be approaching general economic armageddon. Stay tuned!
 

Zed

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NDX Monthly Log Chart .... this could have a long way to go!

NDX-M-20200731.jpg
 

Zed

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Same for gold... NB: The look of the final move in the 1980 blow off when gold went exponential. If we see this again... RUN!

GC-M-20200731.jpg
 

Zed

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How low can you go? This chart reflects yesterday's close. RSI way oversold on this three year dollar chart. This morning the dive continues and we are deep into a 92 handle:

View attachment 174706
I dunno, I'd be looking for a bounce... this HAS to be an over crowed trade. Of course it will mean a beating for gold, but it should not last that long JMO. etc.
 

Zed

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I agree this consolidation the past couple of days seems healthy. We saw a run up to $26+ in silver and it would be healthy to come back down to $21.50/22 imo. That having been said this morning ahead of the London open we are kicking some ass with POG @ $1980 and silver back solidly above $24. The question is whether the monthly close will be slammed down with impunity or the markets will show where they are really at by running strong into the close. The next 15 hours may set the stage as to whether we get some summer chop next month or we keep running in light of what appears to be approaching general economic armageddon. Stay tuned!
Could be squeezy but I doubt it, short squeezes don't get telegraphed in the media!
 

Zed

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Those crazy socialist Swedes went all free market with their solution, meanwhile out here in the "free market" we have gone all control freak socialist...

Good on ya Beaker!


 

Zed

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It's the weekend, time to celebrate with a local red!


avagoodweekend!
 

Zed

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I dunno if these guys are going to float but they smell like winners to me... first offering to market this year.

 

Zed

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BTW the ASX gold tribe were ~-1.5% today, came back +0.5% from -2% into the close... buyers where active!
 
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How low can you go? This chart reflects yesterday's close. RSI way oversold on this three year dollar chart. This morning the dive continues and we are deep into a 92 handle:

View attachment 174706

Overbought May-June 2018. When something is supposed to happen and doesn't you might want to take the other side. Major newsletter writers calling for a correction very few think we go up from here. Gold will have closed all week over the 2011 highs. Silver and the miners refuse to retrace much at all. Could be wrong but I think we go up.
 

Varmint Hunter

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Savage
 

Goldhedge

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Not a PM, but a testament to 'paying attention' to what's going on around you.

Just as iPods were popular and - had anyone 'saw' all the kids with them and earbuds back in the early days and bought AAPL - they'd be rich today!

Zoom - an almost unheard of company before February - opened their platform to the world to use for free during the pandemic. An example of marketing genius! You couldn't pay for that advertising. The world beat a path to their door.

Screen Shot 2020-07-31 at 9.50.08 AM.png
 

dpong

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Maybe they confused the rating agency with some kind of horrible sex act.

[And then they spelled *that* wrong...]