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The Lunatic Fringe - Trading talk.

Strawboss

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I’m on the fence. Just waiting for Gold to decide which way it goes.
I have 1/3 in cash waiting for a better entry... I am hopeful that my targets will be reached and allow a favorable entry - but I am not certain. It sucks when you have to chase price...

So far - I would call this correction a consolidation at a high level (which would indicate a STRONG floor in price)...but - the correlation with real interest rates is declining precipitously and it is very possible we may see a rally in Uncle Scam's buxs...

We all know negative rates are here for quite a while and all indications are they are gonna be severe...the trick from TPTB side is to keep the big money in the casino and out of the safe havens...which at some point starts to look ridiculous (think Tesla)...
 

dpong

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dpong

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Gary: "Bubble..."
Me: "Wait, what??!!??"
 

Varmint Hunter

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Gary: "buy any dips" , "bubble lasts till January"
 

dpong

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Lancers32

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You might want to close your eyes for this one. This month we are 40 years an important number from the 1980 September secondary Gold high at $720 and we are 6 months off the lows in March. This will get ugly. 40 years in the desert.
 

dpong

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Tupperware bullish pennant update!

[Yeah, baby!]

QhSgBTYI.png
 

dpong

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[The "before" picture.]

1599072495266.png
 

dpong

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And, anything is possible...

[Did the math. Measured move to 31.62 possible. Meh, we'll see.]

[PS. I don't own this, but am jealous of my friend who does.]

z9K3vvA9-1.png
 
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Strawboss

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Strange to see Newmont up at noon with Gold down $25. Only green I see.
The Sr. miners and the royalty companies were pretty strong today.

That is evidence that the BIG money is accumulating on weakness. They would gravitate towards the big miners and the royalty streamers.

That is also evidence that we are very early in this game. First comes the smart money. Then the big money. Then the retail. Those are the 3 waves in every bull market.

We...the smart money have been at this for years. The big money is new to the game. Warren Buffett buying Barrick will go down in history as a game changer. The earnings that the miners are earning cannot be ignored. Hedge funds will be forced to carry them in their portfolio as they wouldnt be able to explain how they missed out on a HUGE bull market.

I think this dance has a few more years to play out fully...
 

Strawboss

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Zed

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jelly

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Gold, 4-hour. Skating on thin ice right now. Bullish formation hasn't failed YET, but this doesn't have the strength I'd like to see. I think today begins the next wave down in the general markets. Will be interesting to see how gold fairs with a dropping stock market.
gc4h.png
 

Lancers32

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Savage video on YouTube. Long short dip buying mentality currently will be punished. Sees large outsized moves ahead for Gold and Silver but not from these levels.
 

dpong

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Gold appears to be at a kind of 'put up or shut up' moment.

U9m0Hfj9.png
 

Lancers32

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The Pelosi story would be funny if it weren't for the fact that these people have destroyed the economy and the country. No mask which I could give a shit about while the other a=holes have their masks on demands a store be opened to her that is closed to serfs. Then has the absolute balls to demand an apology. At least Nixon had the decency to resign. This bitch has to go.
 

Cigarlover

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Great analysis on the comex games
 

Strawboss

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1599185483786.png
 

Zed

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I dunno, we are back testing trend and the Bolly Bands have contracted quite a bit. The old highs look like support for now and the monthly chart looks to be due to take a breather. I'd be happy if 1823 holds on a monthly bases going into December before we move up again. Not thinking the next two months will be that exciting, I see head winds until delivery ramps up @ the very end of November.
 

Zed

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Off ~2.5% EOD for the ASX Gold Tribe. Nervous trade before the weekend.
 

Strawboss

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1599224904296.png
 

dpong

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Lancers32

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A low this month makes sense for the pm complex. IF A equals C we should see a move down to the $1800ish level. If C extends it could get pretty ugly. Not sure if the conviction of the bulls has to be tested to that extent or not. This month marks 40 years from a very important high in Gold. Right around the Equinox.
 

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dpong

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Just seems so easy to bet on the short side after this historic run up. I ain't playing in that sandbox.
We all know we are watching a market driven to extremes. His analysis is well-done and exposes just *how very* extreme it is compared to past situations. You don't have to short it... But you do have to live through it.

:shit happens:
 

jelly

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I see gold as a clue to how bad the downturn in the stockmarket will be. If gold's bullish consolidation pattern fails, then I take that as a que that the stock market is in for another sharp move lower.
If the bullish pattern continues, and gold rallies, then I think the stock market correction will be slow and progressed.