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The Lunatic Fringe - Trading talk.

Zed

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Cigarlover

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Here's part2 Posting here because for some reason I don't see ads when I watch videos here. On youtube they seem to be bypassing adblocker somehow

 

Cigarlover

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How can we trade these commodities without using the futures market? I'd rather take a position for longer terms holding rather than play the futures. The futures have huge leverage but that comes with enormous risk.
 

Lancers32

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I don't listen much any more but I happened to catch Mannarino yesterday. Re Bitcoin he said guys he knows at big banks will be buyers of Bitcoin around 30K. Don't know if he really does know any one but I thought the number was interesting since he says he is a holder and does not trade Bitcoin. Last break it was snapped up hard V shaped this time hanging around the bottom. Sentiment is favorable but 42K just might not hold. Weak rally so far to say the least. Out slight profit.
 

dpong

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CHS (CHICOS FAS INC) purchased 3/15/2021 by Weekend Trend Trader strategy. This is not a picture perfect H&S pattern, but the stock looks very strong to me.

WTT is up 29.47% on this symbol at this time. [I'll be keeping an eye on this one.]

Ojk9GDkE.png
 

dpong

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CHS (CHICOS FAS INC) purchased 3/15/2021 by Weekend Trend Trader strategy. This is not a picture perfect H&S pattern, but the stock looks very strong to me.

WTT is up 29.47% on this symbol at this time. [I'll be keeping an eye on this one.]
What a dummy! I said H&S but I meant Cup & Handle. [What a loser.]
 

Oldmansmith

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I don't listen much any more but I happened to catch Mannarino yesterday. Re Bitcoin he said guys he knows at big banks will be buyers of Bitcoin around 30K. Don't know if he really does know any one but I thought the number was interesting since he says he is a holder and does not trade Bitcoin. Last break it was snapped up hard V shaped this time hanging around the bottom. Sentiment is favorable but 42K just might not hold. Weak rally so far to say the least. Out slight profit.
Played ETHE again today for a 5.75% gain. Just a lower high I'm afraid.
 

dpong

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CHS again. Navel gazing, here. [Weekly chart, of course.]

Possibly 3 white soldiers as the last 3 bars off the intermediate term correction low.

[Even without the jargon, at a gut level, this just feels like strong action. Something you always want to see in your horse.]

UCqGYSsD.png
 

Zed

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I don't listen much any more but I happened to catch Mannarino yesterday. Re Bitcoin he said guys he knows at big banks will be buyers of Bitcoin around 30K. Don't know if he really does know any one but I thought the number was interesting since he says he is a holder and does not trade Bitcoin. Last break it was snapped up hard V shaped this time hanging around the bottom. Sentiment is favorable but 42K just might not hold. Weak rally so far to say the least. Out slight profit.

I'd say that it either holds @ 40K or it ends up way lower, I doubt that 30K will be the bottom in that case.
 

Zed

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What a dummy! I said H&S but I meant Cup & Handle. [What a loser.]

Either way those patterns are nothing unless the volume goes with the run ups and pull backs. You almost never see the volume factor being mentioned and it is a defining feature.
 

Zed

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How can we trade these commodities without using the futures market? I'd rather take a position for longer terms holding rather than play the futures. The futures have huge leverage but that comes with enormous risk.

ETF's or CFD's, I'm not sure that you can do CFD's in the US.
 

Zed

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BTC looking weak.
 

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BTC looking weak.

That's a Nice way of looking at today. I'd say it's getting close to calling it a crash.
 

Cigarlover

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futures are going nuts. Went in to see about shorting it. Sheesh, you need about 4 x the value of BTC just to trade the futures on it. 124k
 

Lancers32

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We are getting very close to the main halfway point of the entire move from the March 2020 crash lows to the highs in Bitcoin.
 

Lancers32

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couple things I am watching. MARA and RIOT are well above the lows they made when BTC was around 45K. BGTC discount has shrunk from near 20% down to around 11%. Tough to buy at 29 with BTC 5K off the bottom.

Silvers do not want to give it up.
 

Voodoo

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I remember when this thread was about gold and silver.

It certainly will be again when Gold hits $30,000. Just a fact that people will follow other people and therefore the big moves.
 

Voodoo

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A lot of talk out there, and some evidence, that much of these drops are Hedge Funds liquidating as much as they can for the coming short squeezes in meme stocks. I think everyone has vastly underestimated just how big the Naked Short Selling scam has been. And for how long they've been running this scam.
 

perry

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I think gold is going to climb way over $5,000 an ounce in 2023, when the internet rates starts to climb. I don't know how many people have libor loans to buy second homes such as beach properties.
 

Oldmansmith

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Big bounce on the shit coins, but now bag holders will be looking to sell on every big bounce. We'll see, but looks very similar to the last (2018) blow off top and subsequent two year bear market in shit coins.
 

D-FENZ

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Well, bitcoin is "digital gold," lol. Also, if some taking profits put it in physical it could be UGE!
I have long maintained- that is, at least as long as cryptos have been around- that PMs will never truly shine as long as cryptos are competing with them.
 

Lancers32

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10K off the lows in BTC. Likely retrace coming. You have that wick down to 30K but 2 hourly candle body lows near 34-35K. Exchanges went down some could not even log in perfect back drop for the big money to buy at their price. Any move down into mid 30's will be bought hard. Absolutely looks like capitulation today. Gotta be a buyer on weakness from here if you think BTC is legit at all. Crazy man picked bottom tick yesterday.
 

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A lot of talk out there, and some evidence, that much of these drops are Hedge Funds liquidating as much as they can for the coming short squeezes in meme stocks. I think everyone has vastly underestimated just how big the Naked Short Selling scam has been. And for how long they've been running this scam.
I wanna hear more on your thoughts about this. Where’s it all going? How’s it going to play out ?
 

Voodoo

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You may be right Lancers, problem is that I dont think Bitcoin is legit.

I would possibly buy some Monero or other alt-coins. But the problem is that brings big time government interest and I just don't need that hassle on top.
 

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Waiting for the BTC day to finish, looks like it is going to hold close enough to 40K. You know, given it's BTC.
 

Zed

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Cigarlover

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I think we see what happens when everyone runs for the exit at the same time. It's not just BTC though. It's every stock in every stock market. It's all an illusion. When TSLA hits 800 there isn't some person sitting there cashing everyone out at 800. The first ones to sell get the print. After that if there's a run on it then you get what you get. While it's at 800 though how many are out there counting their chips thinking how rich they are?

BTC 10k by EOY. 3k end of 2022