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The Lunatic Fringe - Trading talk.

Lancers32

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Friday is 49 days off the tops in the metals. Anywhere in here for at least a trade. Thin market the miners so when they get going to the downside don't expect supports to be respected to the penny.
 

savvydon

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Silver RSI now approaching 30. We could see a good flush into the $20-21 area before this correction is said and done, but I think we are getting into the meat of things. I deployed half of my dry powder today, as my bids got hit as the day wore on. If there is another assault on silver and the miners I'll deploy some more. For a medium to long term horizon investor/trader in the metals/miners I believe we are staring opportunity in the face. We c...
 

Lancers32

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Silver RSI now approaching 30. We could see a good flush into the $20-21 area before this correction is said and done, but I think we are getting into the meat of things. I deployed half of my dry powder today, as my bids got hit as the day wore on. If there is another assault on silver and the miners I'll deploy some more. For a medium to long term horizon investor/trader in the metals/miners I believe we are staring opportunity in the face. We c...
Brother from another mother.
 

Lancers32

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JP Morgan gets a billion dollar fine for price fixing no one goes to jail those harmed get squat. IF you wanted to blow all the paper longs out of the Gold Market I would think you would have to break it under $1670 maybe lower. No one is going to sell the physical one way or the other but I don't think a move to $1750 or thereabouts will shake the confidence of the bulls. Not saying it will happen but if I was one of The Gang that would be the plan.
 

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Zed

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The Tribe are ~-2.8% @ lunch.

Not bad really.

AUD Gold is sliding sideways into trend.
 

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The Tribe are ~-2.8% @ lunch.

Not bad really.

AUD Gold is sliding sideways into trend.
LOL... post sat there all day, I didn't hit "Post Reply" till just then---> auldtimers setting in!

~-3.1% EOD

Coulda been worse!
 

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I don't see much support for gold until ~181x .... if we pull up before then it will be impressive.
 

Strawboss

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Hey Zed,

Whats going on politically in your country? Looks like freedom is on the way out down yonder...and might quick at that...
 

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Voodoo

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Same all over Straw.
Australia is leading the way outside of Europe. I would be looking to get the hell out of there, but I've never been so you know, no boots on the ground info.
 

dpong

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Gold and Silver pause to consider these lines.

U8WsSLFu.png


alC0IrYr.png
 

Zed

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Hey Zed,

Whats going on politically in your country? Looks like freedom is on the way out down yonder...and might quick at that...
It's hard to say this is a new thing, push back is only just starting to develop. It seems obvious that the incumbent powers will have a difficult time politically going forward. It will be months before we, have got a clear picture.
 
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Zed

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Gold and Silver pause to consider these lines.

View attachment 181723

View attachment 181724
That is where I would draw a speedline. As I draw them they are a set of parallel support and resistance lines that tend to contain the speed at which the market is currently wanting to move. In gold you will notice that the highs either side of the beginning of the line are on the same slope, often they describe reaction points where things turnaround or accelerate.

2c FWIW.
 

Zed

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Gold Weekly - Although the pennant has failed the weekly is still within a legitimate flag formation and has time to play out between here and December. That kinda fits with my take on the likely behavior of the commercials and the market calendar aka December delivery.

2c

FWIW.

Untitled.jpg
 

Zed

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Gold, BTC, Nasdaq & the S&P - YTD all pegged to 100 @ Jan 1. Highs and lows marked by the same colored dashed line. BTC has been the volatile one but Gold and BTC seem to lead the action at the moment. If you are inclined to short stocks maybe you watch gold and wait a little for the next divergent rally in stocks to develop. Fund managers are booking profits from now until Dec 30.

Gold was the most resilient in the panic of March. BTC slipped first.

The buzz I am hearing over crypto in general is amping right up!

Untitled.jpg
 

dpong

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That is where I would draw a speedline. As I draw them they are a set of parallel support and resistance lines that tend to contain the speed at which the market is currently wanting to move. In gold you will notice that the highs either side of the beginning of the line are on the same slope, often they describe reaction points where things turnaround or accelerate.

2c FWIW.
Yes, I can see what you mean.
 

oldgaranddad

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Just remember October is only a week away along with those October surprises that drive the sheeple and algorithms alike.

Plan accordingly.
 

Zed

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Since I do not pay for his stuff I can only guess what Armstrong means when he says Gold at 21 year high.

https://www.armstrongeconomics.com/...s-metals/gold/can-we-trust-the-future-at-all/

Gold has also dropped sharply here during the week of 9/21/20 dropping to the 1885 level. The last low was 1865 which interestingly is the same number technically for support this week. Gold has been trading with the stock market and has been forming a very tight sideways wedge. A break of the last key low of 1865 would imply a drop to retest the 1805 level and for a more sustained decline ahead, we need a daily closing below 1805.

There is also a risk of a high being in place which would be a 21-year high. We will lay out the prospects for gold in the face of this very serious attempt to use climate change and fake virus pandemics to impose this Great Reset.
 

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Just remember October is only a week away along with those October surprises that drive the sheeple and algorithms alike.

Plan accordingly.
Yes, this is a function of fund managers protecting themselves (profit & bonuses) coming into FY end and changing strategy ahead of the new year.
 

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Australia is leading the way outside of Europe. I would be looking to get the hell out of there, but I've never been so you know, no boots on the ground info.
I dunno, there has not been the time to see what the push back is going to be. Believe me it is mounting and these people will (IMO) live to regret this period.
 

Lancers32

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You can't rule anything out but I think we have to at least retest today's lows. Some of the miners will be coming up into failed support on further rally. Since the miners can bottom before the metals themselves it is possible buys near today's lows could be close enough to a bottom as to not matter at all. Volume was at best just OK. SILJ bottomed a few pennies above the old $12.75 high at $12.79. I would not chase any rallies at this point.
 

Lancers32

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I dunno, there has not been the time to see what the push back is going to be. Believe me it is mounting and these people will (IMO) live to regret this period.

NWO dude. I wonder how Russia and China will feel about all of that. Got a feeling they won't be coming along for the ride.
 

savvydon

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You can't rule anything out but I think we have to at least retest today's lows. Some of the miners will be coming up into failed support on further rally. Since the miners can bottom before the metals themselves it is possible buys near today's lows could be close enough to a bottom as to not matter at all. Volume was at best just OK. SILJ bottomed a few pennies above the old $12.75 high at $12.79. I would not chase any rallies at this point.
The reversal this morning surprised me. I had some more SLV call option bids that didn't get hit. To be honest I was hoping to see more devastation thru Friday, in the hope that this would be a real flush out. As it stands I am not convinced today's reversal will stand. If we see more green in silver and the miner's tomorrow I will put in some stop limit orders where I got in at yesterday, just in case the rest of this week is a head fake on the way to a true bottom. If we gain some traction for a move up I will start to adjust with trailing stops.
 

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The reversal this morning surprised me. I had some more SLV call option bids that didn't get hit. To be honest I was hoping to see more devastation thru Friday, in the hope that this would be a real flush out. As it stands I am not convinced today's reversal will stand. If we see more green in silver and the miner's tomorrow I will put in some stop limit orders where I got in at yesterday, just in case the rest of this week is a head fake on the way to a true bottom. If we gain some traction for a move up I will start to adjust with trailing stops.
Transitioning to a BTFD market...!?...
 

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The Tribe are ~+2% heading toward lunch down here.
 

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NWO dude. I wonder how Russia and China will feel about all of that. Got a feeling they won't be coming along for the ride.
These people are going to overreach and blow themselves up IMO.
 

savvydon

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Transitioning to a BTFD market...!?...
I get worried any time I think I know wtf is going on with a market. Just the same, this past 1-2 year run up in gold, followed by the super strong summer silver surge, has me convinced that the fundamentals and technicals are lining up. I think we are in bull mode, regardless of what the next few weeks brings. I'm going to try to leave plenty of room to be wrong timing wise, but I'm aiming to build core value with mining equities and add to my powder with a layering of call SLV options, some shorter term, mostly longer term, with an eye toward buying and selling based on technicals. We will see where all this gets me, but I'm hoping that regardless of how ignorant I am, a rising tide will lift all boats in the harbor.
 

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These people are going to overreach and blow themselves up IMO.
You mean people like Kim Jong Dan down there? Thought that was a good one. I'm assuming Victoria is the most populous state with Melborne?
 

Zed

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You mean people like Kim Jong Dan down there? Thought that was a good one. I'm assuming Victoria is the most populous state with Melborne?
No... NSW is bigger.

We are the more socialist leaning state.

Dan has some rude shocks coming if I read the crowd correctly. This will not be done for quite some time.
 

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We will see where all this gets me, but I'm hoping that regardless of how ignorant I am, a rising tide will lift all boats in the harbor.
Once we really get going it will get easier and easier to be right. We need to be really careful not to confuse brains and talent with a bull market. No doubt I will exit early for fear of overstaying my welcome but better than late IMO. I know that I will then get into some other unloved sector too early and do some more hard yards... it is just my nature! :rolleyes: