• "Spreading the ideas of freedom loving people on matters regarding metals, finance, politics, government and many other topics"

The Lunatic Fringe - Trading talk.

Cigarlover

Midas Member
Midas Member
Midas Supporter
Joined
Dec 18, 2011
Messages
9,940
Reaction score
20,304
Good advice for buying options, especially calls.
My 300 game calls that expired last Friday just needed a couple more days. LOL. Made me a little gun-shy now.. On Monday was looking at the CLOV 15's that expired on the 18th.. .75 and today they hit 8 bucks. :(. If CLOV keeps going I may look at some July options.

I'm still hanging onto LEDS. No options available on it but low float of 2.4 million with a 20% short interest. Liked the way it finished today.
 

EchelonPL

New Member
Joined
Mar 31, 2010
Messages
61
Reaction score
39
Yowzers.
1623247506814.png
 

Voodoo

Midas Member
Midas Member
Platinum Bling
Site Supporter ++
Joined
Mar 31, 2010
Messages
4,548
Reaction score
7,039
Location
Deep Underground Bunker
My 300 game calls that expired last Friday just needed a couple more days. LOL. Made me a little gun-shy now.. On Monday was looking at the CLOV 15's that expired on the 18th.. .75 and today they hit 8 bucks. :(. If CLOV keeps going I may look at some July options.

I'm still hanging onto LEDS. No options available on it but low float of 2.4 million with a 20% short interest. Liked the way it finished today.

Clove was a Shitadel pump and dump. Avoid.
 

Lancers32

Gold Member
Gold Chaser
Site Supporter
Joined
May 10, 2020
Messages
2,915
Reaction score
3,971
Location
NC
I think Bitcoin is a buy on weakness stop under 30K. There is a possibility we just saw a truncated 5th wave in Elliot wave terms. Not surprised to see so many once die hard bulls shit the bed on the break to the near double bottom. Be your own guru.
 

Lancers32

Gold Member
Gold Chaser
Site Supporter
Joined
May 10, 2020
Messages
2,915
Reaction score
3,971
Location
NC
Back into horizontal support.

VOq95t3w.png
 

savvydon

Site Supporter
Site Supporter
Platinum Bling
Joined
Dec 14, 2010
Messages
4,129
Reaction score
4,874
I think Bitcoin is a buy on weakness stop under 30K. There is a possibility we just saw a truncated 5th wave in Elliot wave terms. Not surprised to see so many once die hard bulls shit the bed on the break to the near double bottom. Be your own guru.
Theoretically Elliot Wave Theory should shine with Bitcoin. Sheer human psychology/mass hysteria.
 

Uncle

Midas Member
Midas Member
Midas Supporter ++
GIM Hall Of Fame
Joined
Apr 13, 2010
Messages
2,480
Reaction score
3,410
Location
SA
Theoretically Elliot Wave Theory should shine with Bitcoin. Sheer human psychology/mass hysteria.

Untill it reverts the count.

Golden Regards
Uncle
 

spinalcracker

On a mail train.
Platinum Bling
Midas Supporter ++
Joined
Apr 1, 2010
Messages
5,801
Reaction score
16,570
Location
On a mail train.
Theoretically Elliot Wave Theory should shine with Bitcoin. Sheer human psychology/mass hysteria.


did BC do the death cross?




Bitcoin Barrels Into ‘Death Cross’ as Backdrop Darkens

Amid Bitcoin’s decline this week, eagle-eyed chart-watchers noticed an ominous-sounding technical breach could be at hand: the coin is approaching a bearish pattern known as a death cross.

The world’s largest digital currency has slumped, pushing its average price over the last 50 days close to its 200-day moving average. Should the short-term line cross below the long-term one, the coin would reach the forbidding formation. The indicator is typically seen as a closely-watched technical measure that could offer a hint at more pain to come.

The last time Bitcoin marked a death cross, in March 2020, proved no impediment to gains as the cryptocurrency turned higher and formed a golden cross (when the pattern is reversed) two months later. However, after a death cross in November 2019, it was down roughly 5% one month later.

 

Zed

ZzzzzZzzzZzzzzz
Midas Member
Sr Site Supporter
GIM Hall Of Fame
Joined
Mar 30, 2010
Messages
20,425
Reaction score
23,034
Location
Watching the Sideshow!
I think Bitcoin is a buy on weakness stop under 30K. There is a possibility we just saw a truncated 5th wave in Elliot wave terms. Not surprised to see so many once die hard bulls shit the bed on the break to the near double bottom. Be your own guru.

Short term it's a trade. It's going to, by rights, take time to digest this price spike... momentum appears to have turned.
 

Zed

ZzzzzZzzzZzzzzz
Midas Member
Sr Site Supporter
GIM Hall Of Fame
Joined
Mar 30, 2010
Messages
20,425
Reaction score
23,034
Location
Watching the Sideshow!
did BC do the death cross?

Not yet.

The last BTC spike bottomed out twice on the 200WMA which currently sits @ 11K but should be higher by the time it gets there.
 

Zed

ZzzzzZzzzZzzzzz
Midas Member
Sr Site Supporter
GIM Hall Of Fame
Joined
Mar 30, 2010
Messages
20,425
Reaction score
23,034
Location
Watching the Sideshow!
Both moving averages have to be moving down for a true death cross. So no.

Yeah, I've never heard that. If volume ticks up on the cross then I'd be careful. My 2c.
 

Zed

ZzzzzZzzzZzzzzz
Midas Member
Sr Site Supporter
GIM Hall Of Fame
Joined
Mar 30, 2010
Messages
20,425
Reaction score
23,034
Location
Watching the Sideshow!

Zed

ZzzzzZzzzZzzzzz
Midas Member
Sr Site Supporter
GIM Hall Of Fame
Joined
Mar 30, 2010
Messages
20,425
Reaction score
23,034
Location
Watching the Sideshow!
Last edited:

Voodoo

Midas Member
Midas Member
Platinum Bling
Site Supporter ++
Joined
Mar 31, 2010
Messages
4,548
Reaction score
7,039
Location
Deep Underground Bunker

Lancers32

Gold Member
Gold Chaser
Site Supporter
Joined
May 10, 2020
Messages
2,915
Reaction score
3,971
Location
NC
Untill it reverts the count.

Golden Regards
Uncle


Never trust Elliot Wave myself thought I would bring it up. Sentiment still wildly bearish in Bitcoin and we have a slightly higher bottom 30-31K. Until we make a new low we have not. A rally to the halfway point and an old low around 47K would not be a surprise. A move under 30K would be a problem for the bulls. Major support at the old high 2017 around 20K if we get there.


FWIW MARA and RIOT did not confirm this last move down they made their lows weeks back.
 

jelly

Silver Miner
Seeker
Joined
Dec 6, 2010
Messages
1,276
Reaction score
1,468
Zed, what's your take on the USD here? Seems like it's due for a good bounce
 

Jodster

Always wrong
Silver Miner
Joined
Apr 4, 2010
Messages
1,254
Reaction score
1,270
Zed, what's your take on the USD here? Seems like it's due for a good bounce
I think you need to listen to Simon Hunt’s interview posted above. Not only is it informative but it answers your questions.
Zed posted it for a reason.
Peace Jelly and thanks Zed.
 

Zed

ZzzzzZzzzZzzzzz
Midas Member
Sr Site Supporter
GIM Hall Of Fame
Joined
Mar 30, 2010
Messages
20,425
Reaction score
23,034
Location
Watching the Sideshow!
Zed, what's your take on the USD here? Seems like it's due for a good bounce

Looks like a double bottom to me, so yeah, I think the odds are that it will rally in the near term.
 

Zed

ZzzzzZzzzZzzzzz
Midas Member
Sr Site Supporter
GIM Hall Of Fame
Joined
Mar 30, 2010
Messages
20,425
Reaction score
23,034
Location
Watching the Sideshow!
DXY - I was looking for a divergent low but it has held up better than that... for now, it still could break a little lower.

1623373211084.png
 

Zed

ZzzzzZzzzZzzzzz
Midas Member
Sr Site Supporter
GIM Hall Of Fame
Joined
Mar 30, 2010
Messages
20,425
Reaction score
23,034
Location
Watching the Sideshow!
Gold looks due to 'resume trend' next week. 2c FWIW.
 

Zed

ZzzzzZzzzZzzzzz
Midas Member
Sr Site Supporter
GIM Hall Of Fame
Joined
Mar 30, 2010
Messages
20,425
Reaction score
23,034
Location
Watching the Sideshow!
Last edited:

Zed

ZzzzzZzzzZzzzzz
Midas Member
Sr Site Supporter
GIM Hall Of Fame
Joined
Mar 30, 2010
Messages
20,425
Reaction score
23,034
Location
Watching the Sideshow!
The ASX gold tribe have woken up and gone +5% today. They seem optimistic about golds chances next week, no Friday doldrums so far with 1:30 left to trade.
 

Zed

ZzzzzZzzzZzzzzz
Midas Member
Sr Site Supporter
GIM Hall Of Fame
Joined
Mar 30, 2010
Messages
20,425
Reaction score
23,034
Location
Watching the Sideshow!
Monthly Silver - Breaking this price level, on a monthly closing basis, projects a solid price move based on the bullish pennant formation. 100% is typical, 161% on a decent over run. Silver is capable of the latter on a wild day.

1623387093519.png
 

savvydon

Site Supporter
Site Supporter
Platinum Bling
Joined
Dec 14, 2010
Messages
4,129
Reaction score
4,874
Glad my Silver calls don't expire anytime soon. :tired:
I'd have sold a bunch of mine if I could trade during Asian markets. As it is every time we get to the New York open the price of silver has been quietly led back into it's $28 cage. Looks like that is where we are heading again this morning, despite a high of $28.40 prior to the London open. This has been going on all month...
 

Lancers32

Gold Member
Gold Chaser
Site Supporter
Joined
May 10, 2020
Messages
2,915
Reaction score
3,971
Location
NC
Bitcoin rejected again in the 39K area. Still hanging on I think any move down to 34-35 is a buy for at least a short term trade. Twitter feed claims everyone is bullish. Can't be with FG Index near 20. Classic topping pattern laser eyes ether art all that nonsense still the least expected outcome here is a move to new highs. Would be fitting. I think it happens.


E3a8JDWWEAEKvxD.png