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The Lunatic Fringe - Trading talk.

jelly

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I've seen this before in the metals. Breakout, followed by failure. But instead of a getting more downside, it results in a couple more months sideways action.
Come back in a couple months.
Silver miners haven't violated the breakout yet, but I think it's looking like we'll be getting more sideways movement before we'll be breaking out to new highs.
 

Lancers32

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I've seen this before in the metals. Breakout, followed by failure. But instead of a getting more downside, it results in a couple more months sideways action.
Come back in a couple months.
Silver miners haven't violated the breakout yet, but I think it's looking like we'll be getting more sideways movement before we'll be breaking out to new highs.

Not a time to be a hero. Charts are broken here.
 

savvydon

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Not a time to be a hero. Charts are broken here.
With over a $2 drop in spot silver here this is the longest red candle in SLV since August. I'm no hero but I'm willing to gamble that we see a short term bounce here. I'm in some short term SLV call options in case we do.
 

jelly

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I agree. If you’re a long-term investor, this is a good buying opportunity. If you’re a trader, this is a failed break out.
What should’ve been a move to 2500 gold, $40-50 silver by June, is now failed
I do think we get a short term bouncer, but medium term, the markets just broke. Until proven otherwise, this trade is over
 

savvydon

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Which one did you buy if I could ask?
Bought some SLV 25 calls that expire 2/12/21 and some 24 calls expiring in a week on the cheap. It is a hail Mary play but I think we are looking at lots of volatility here. If that occurs I will try to be humble and get out with a decent profit. If we are going down like the Hindenburg, well then I'm highly flammable.
 

savvydon

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Just hit my limit buy on some SLV 23 expiring on 1/22. This is either going to be really good or really bad.
 

savvydon

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You should be good.
Depends on how much bop we get. Typically, this being a Friday we will get the weekend to breath and see at least a partial retrace from the carnage. On the other hand, if the world melts down this weekend there is no telling how far down the abyss we fall. I'll be watching on Monday. If we are crushed like this again I'll feel out some more call options. Double down on the pain.
 

Lancers32

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Wish you luck. I never buy on a confirmed decline after a failure. Learned my lesson decades ago not believing what I was seeing. We should get some kind of pop but this is not good. I mean everyone says we are in a bull market right? Heard that before time to step back and watch for a bit. IF Gold is going to 10K what's the rush? :meditation:
 

jelly

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"as long as they don't engage the tactic again for 3 years."
WTF?!
That's like saying, it's wrong to be a thief, but in 3 years you can start back again.
 

jelly

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This morning before the markets opened, I was getting the same feeling I got in Late February 2020, right before everything tanked. I'm wondering if this move in the metals is just a shot across the bow, warning of imminent danger? Just a feeling, but it was eerie. Picking up some put options on the general markets just in case.
 

nowon

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Reminds me of the line, double secrets probation, in the movie Animal House...which is about where they belong
 

Lancers32

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This morning before the markets opened, I was getting the same feeling I got in Late February 2020, right before everything tanked. I'm wondering if this move in the metals is just a shot across the bow, warning of imminent danger? Just a feeling, but it was eerie. Picking up some put options on the general markets just in case.

Hearing some of that. Best to start this on a Friday wake up Monday your positions are toast.
 

Lancers32

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I gots a whole 400 dolla sitting in my paypal account waiting for the dip. Funny because its probably more than most of the millions of newbie speculators buying bitcoin right now.
:spamani:

One never knows. Might turn out that even at these prices it is early for BTC.
 

jelly

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I think it is early, and mad Max will likely be right. But I think we get a good correction, within days, before bitcoin goes much higher. I see $50K as the topside in the short term, then a strong pullback.
 

davycoppitt

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Switched my full focus to US pot stocks. I buy pot stocks only on hype and don't care if they ever make a penny. Don't believe in long term. I think we are setting up for another run in pot stocks. I also believe that it could be as big as the Canadian boom with all the Robinhood users.

You guys can rag all you want, but went into SBVCF heavily today. Jay-Z is one of the ones Behind this company and around 1-15 the ticker will turn to GRAM. I believe that alone will get allot of hype from the robinhood users.

Ultra risky sector. Don't ever take my word or ideas as anything. These companies will most likely not last and go completely bankrupt, but in the time being its a wild ride to the up and down. Just gotta be sure to walk away when the getting is good.

November 2017 was the funnest month of my life. Played the canadian pot stock boom and made enough to pay off my house. Started with very little capital. It wasn't uncommon to have 60-100% swings in a day.
 

dpong

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26. So funny!