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The Lunatic Fringe - Trading talk.

chieftain

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Any idea why metals were punched in the nose this morning?
 

Zed

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Could be 1750, could be 1700... BEST outcome is 1780 holds, but if it breaks 80 lower is possible. Next 10 days I would GUESS.
 

Zed

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Zed, what are you guys doing over there? Looks like you guys decided to dump the metals too!
Yeah.. I think we are into turbulence and a turn. USD is going to rally which will hit gold to start with then IMO that will reverse and most probably FAST. IMO we are into a dip worth buying. The Dems are going to send gold NUTS and the big boys are positioning. Hence 10 days... the 20th!
 

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Any idea why metals were punched in the nose this morning?
USD turning up and we are going risk off --> JMO. Gold will get hit @ first but should come good. Again JMO.
 

chieftain

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USD turning up and we are going risk off --> JMO. Gold will get hit @ first but should come good. Again JMO.
What's fueling the rise in the USD?
 

Zed

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What's fueling the rise in the USD?
Short USD is a part of what's called the "reflation trade" aka the trillion dollar Fed flush we've had. It is a massively crowed trade, everyone is on one side of that boat. When the last buyer/seller has moved the market will reverse, IMO we are there. The more extreme the positioning the more extreme the response. This could be a rough melt down... not a promise, just a possibility here. Nerves about Biden might not be helping. JMO.
 

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Lancers32

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Short USD is a part of what's called the "reflation trade" aka the trillion dollar Fed flush we've had. It is a massively crowed trade, everyone is on one side of that boat. When the last buyer/seller has moved the market will reverse, IMO we are there. The more extreme the positioning the more extreme the response. This could be a rough melt down... not a promise, just a possibility here. Nerves about Biden might not be helping. JMO.
What's that guy's name Brent Johnson from Sauntiago Capital or something you know the thing the Dollar Milkshake Theory. $ goes wild to the upside Gold goes to $1500 the blasts off. I don't know.
 

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What's that guy's name Brent Johnson from Sauntiago Capital or something you know the thing the Dollar Milkshake Theory. $ goes wild to the upside Gold goes to $1500 the blasts off. I don't know.
Yeah, Brent is a USD bull first then a melt down later. Deflation then inflation... much like Martin Armstrong and it's the idea that I subscribe to. Empires fold from the outside into the core, US is the core, thus we melt up. Much like a firework, up then explode, then down.

Notice Marty A's "blue chips will rally" and all else will languish has become the "tech leaders will rally" etc. His idea was right and the FANG's etc are the new blue chips.

I dunno.. seems to be loosely working that way.
 

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Lancers32

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Yeah.. don't know about that number but.... ?!

I heard him mention it on either Gammon or someplace else a while back and he for sure mentioned $1500. He might have backed off on that somewhat but the way the market looks it might not be that far off. Should be interesting to see the action after we rally near mid week.
 

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I heard him mention it on either Gammon or someplace else a while back and he for sure mentioned $1500. He might have backed off on that somewhat but the way the market looks it might not be that far off. Should be interesting to see the action after we rally near mid week.
We probably had not done 2K @ that point? But...

This could get way nuts again, given the $$$ thrown around the system.
 

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Zed

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Zed

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Zed

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Lancers32

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My only concern that I have with this Covid thing is that it will rob me of the little time I have left. All I want to do is go over to the local hole in the wall get shitfaced and run the car off the road on the way home. Open ffs. Can't a guy have any fun?
 

Lancers32

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The much needed correction in Bitcoin continued . Low 33000 which retraces c. 3/8 of the move 16200-42000. If GBTC holds around a 15% premium around 37 should work so long as we trade 33-34K. Would rather buy in pieces so hopefully we can get stabilized 30-32K on the low side.

I think people who wanted in but did not buy will buy these levels.
 

Lancers32

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Miners kind of flat pre market at least CDE. Lots of times these are opportunities to GTFO if you were asleep the previous day sometimes it indicates they don't want to go lower. In any case these things ain't gonna run away upside on ya anytime soon.
 

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The much needed correction in Bitcoin continued . Low 33000 which retraces c. 3/8 of the move 16200-42000. If GBTC holds around a 15% premium around 37 should work so long as we trade 33-34K. Would rather buy in pieces so hopefully we can get stabilized 30-32K on the low side.

I think people who wanted in but did not buy will buy these levels.
vatching and vaiting , dry powder is ready

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