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The Lunatic Fringe - Trading talk.

dpong

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I don't know anything about this company (SVM). The WTT strategy had it as a buy a while back, though I did not purchase it myself.

But look how strong this stock has performed - especially if you contrast it with AG, SILJ, GDX, GDXJ. I do not know why it is outperforming, but the chart looks strong, relatively speaking.

1PIk6ime.png
 

dpong

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Ridiculous Tupperware chart:

chart-20.png
 

Strawboss

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I am probably early - but I am now 95% in...picked up some CDE, AG, PVG call options today.

Only 3 more weeks til end of quarter...and 3rd quarter results for the miners are gonna be stellar. I would expect the miners to rise in advance of that.

I have been expecting price to correct the move from the March lows...but - so far it has refused to do so and has instead consolidated mostly sideways...

Another consideration is that the few weeks that entailed the March low will be coming off the 200dma in the next 3-4 months...which means the 200dma is gonna start rising swiftly as they fall off resulting in a steeper incline...and that will put a rock solid floor to any potential deep corrections.

Seasonally - we are entering a pretty good time of year for goldies...

The upcoming election debacle and the fallout from that is gonna be EPIC and its anyones guess how that plays out.

Once flu seasons kicks into high gear - I am sure we will get round 2 of the lockdowns and all the other BS...

I am keeping about 5% liquid in the off chance we do get a waterfall move in gold. I will use that to buy shorter term call options and play the rebound...

So thats the situation...the strategy...the rationale...and the plan B...
CDE up a couple of % this pre market.
CDE breakout 6.04 high 9.25 halfway 7.66
Well played Straw.
1600131409469.png

1600131497853.png

1600131630779.png


3 for 3...

At least for today...

Figured I would take a victory lap...
 

Zed

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FWIW.

ASX Gold Tribe ~+4% yesterday and ~+4% so far today.

Somebody lit a fire under little Goldilocks cute butt.

 

Strawboss

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Somebody lit a fire under little Goldilocks cute butt.

ahhh dude...

Goldilocks is like 12 or somethin'...

jk...
 

Zed

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Goldilocks is like 12 or somethin'...
I thought she was a mature economy... IDK.

Rockin-on to ~+6% with 45 mins on the clock.

On fire these past two days.
 

Zed

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+7% EOD .... we got serious wood down here!
 

Varmint Hunter

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Savage preaches caution:
 
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Lancers32

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Savage might be looking at the wrong clock. For argument's sake in the 1970's Gold bull market the average length of a correction was 8 weeks. We are in week 6. At times the miners bottom ahead of the metals. Would be funny to see our boy waiting at the station with the train gone down the track wouldn't it? He doesn't know any more than you or I.
That doesn't mean we can't do a deep dive off the speech tomorrow. Can't see what in hell the man can say other than printing press full on but everyone seems fixated on it.
 

Varmint Hunter

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^^^^^^^^^^^^^^^
I was thinking something similar to your post.
 

Lancers32

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Might mean something might mean nothing. The miners I am looking at bottomed 3/16 we are 6 months off the low. Fall Equinox in this time period as well and we are 40 years from the 9/1980 secondary high in Gold at $720. Should be an interesting period.

Do we get turn around Tuesday? Pray for the moonshot or treat is like a business? :robber:
 

Zed

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What exactly are you referencing?

When I look up AXGD it is showing +3.7%
The group of high quality gold stocks that I follow. Currently 7 stocks.

I call them the ASX Gold Tribe...
 
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Zed

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Savage might be looking at the wrong clock. For argument's sake in the 1970's Gold bull market the average length of a correction was 8 weeks. We are in week 6. At times the miners bottom ahead of the metals. Would be funny to see our boy waiting at the station with the train gone down the track wouldn't it? He doesn't know any more than you or I.
That doesn't mean we can't do a deep dive off the speech tomorrow. Can't see what in hell the man can say other than printing press full on but everyone seems fixated on it.
I do think that many will be wrong footed until they get used to the trading character of this phase... and I do think it has changed. This is the main reason I'm not getting cute here... I'm SURE I'd shoot myself in the foot.


2c

FWIW.
 

Strawboss

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Lancers32

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We got the miners fake out on Friday nice rally yesterday and the predictable gap and crap today. Fed tomorrow. Bet we finish up or down tomorrow? Betting down but might be worthy of a chase.
 

Lancers32

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CDE. One good up day. The upside will take care of itself. Downside must hold 8.10. We get a couple of hourly closes under 7.90 I would stand aside. I would really like to see one more good washout.
 

dpong

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Gold futures turned up to a new column of X's. There was no sell signal. There has been no buy signal.

If this is to be a Bullish Symmetrical Triangle it would do well to continue higher. Buy signal @ 2020.

[Sell signal @ 1900.]

chart-21.png
 

Strawboss

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GDXJ made a double top breakout today...Miners leading gold?

1600213005903.png
 

Zed

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The Tribe took ~-1% hit on the open but in the last 20 min have rallied back to flat. We look like we are going green for the PM.
 

Zed

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You have to buy from someone.
Hmmmmm...

Why assume that outcome before the 50DMA and support has broken and while the larger pattern looks like a flag/pennant.

The trend ***should*** resume upward, the odds favor it until it proves otherwise.

JM approach... but?!
 

Zed

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The Tribe were ~0.5% today. Not bad really considering.
 
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Hmmmmm...

Why assume that outcome before the 50DMA and support has broken and while the larger pattern looks like a flag/pennant.

The trend ***should*** resume upward, the odds favor it until it proves otherwise.

JM approach... but?!

With ya I found this on the net. The other view I have seen it before quite similar if not exactly Gary Savage's targets.
 

Voodoo

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Three futures levitation in the middle of the night this week again. Back to buy the close and sell the open.
 

dpong

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Well most got away unscathed I got the shit kicked out of me today. Now we see the direction for the next month I would guess. Metals held up well. Fortuna is on fire. Is it news that the Fed will print until the currency fails?

Maybe the fact the Comex can't deliver will end up meaning nothing in the end.
 

FlaGman

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I keep running track of my stock and PM values on a spreadsheet of sorts, and given that I have a lot of miners I am used to seeing large daily fluctuations-commonly 10 to 20K and occasionally a whole lot more. My last three days at market’s close have been within .0003% of each other. I have never had two consecutive days the same, much less three. I don’t quite know what to make of it, but I hope it is a sign of a monster upward move coming.