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The Lunatic Fringe - Trading talk.

Zed

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2.4% for the ASX gold tribe on the open today... not so bad considering the close to $50 thump.
 

jelly

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Many miners have similar candlesticks today. When it comes to the ETF's, SILJ looks to be holding the strongest, and was down the least today, only -1.6% compared to -2.0-2.9% for the other ETF's like GDX and SIL.
Today it had a somewhat bullish doji candlestick, but is still a candlestick of uncertainty. So I'm not sure if it's time to bet on a reversal just yet until we see something more bullish. I want this to be bullish so bad, but the market isn't saying its bullish just yet.

silj.png
 

Lancers32

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Seems as if during his colonoscopy they went up thru his arsehole and removed whatever remained of his brain.

 

Lancers32

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This is from David Brady. You see what you want to see I guess. He says that price has not made a new low along with a the new low in RSI so price must now go up. Price went up following a confirming low in the RSI earlier on the chart. $1800 should provide some support that general area anyway.
FE3jKAHXIAAXTPn.png
 

dpong

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I'm 25% invested in the miners, specifically I'm holding AG.

Stop loss is currently being threatened.

[I want to be in when we're making higher lows and higher highs. This is starting to not look like that.]

AG_2021-11-23_07-49-02.png
 

Jodster

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I'm 25% invested in the miners, specifically I'm holding AG.

Stop loss is currently being threatened.

[I want to be in when we're making higher lows and higher highs. This is starting to not look like that.]

View attachment 233711
Dpong, you’re not the only one going through this. They are ready to jump off rooftops on Reddit Uraniumsqueeze. My Lithium sucks, magnesium sucks. Au & Ag suck.
This is a classic shakeout. My thoughts are, this is a forced capitulation so the whales can enter extremely low.
We are the collateral damage to that shakeout.
 

Lancers32

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The risk in Silver is down to $21.40 so at this point DCA makes sense. See how the miners hold up today. The Uranium shares DNN UUUU and UEC are up in pre more than they were yesterday.
 

jelly

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Looking pretty ugly in the metals world. Overall, gold miners holding up pretty well despite the continued smackdown in gold itself. However, GDXJ does have a gap at $42. Fill the gap?
gdxj.png

AG, first majestic, hitting a lower low, and is below its 50-dma. Bad sign.
ag.png

Silver itself right at the 50-dma, and near the lows of the recent pullback a couple weeks ago. If it goes any lower, we're going to see a lower low, putting this "breakout" into complete failure. There's already enough damage as it is.
silver.png


Given what we are seeing in the other commodities, I'm wondering if we are seeing the end of the inflationary push higher accross commodities. The USD has been very strong.
 

Lancers32

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Miners opened strong considering the break in Silver but some of the shares have given back now. Short week if you don't have a position in anything paper no need to rush in now. SILJ is still nearly 2 bucks off its recent lows one junior Gold I watch is actually up fractionally today. Sometimes the buy is uncomfortable ya know?
 

Lancers32

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SILJ maybe around $12.90 lower and it doesn't look good at least short term.
 

dpong

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Dpong, you’re not the only one going through this. They are ready to jump off rooftops on Reddit Uraniumsqueeze. My Lithium sucks, magnesium sucks. Au & Ag suck.
This is a classic shakeout. My thoughts are, this is a forced capitulation so the whales can enter extremely low.
We are the collateral damage to that shakeout.
To be 100% clear, I have zero emotion about what is happening. I took my shot, placed my stop loss, and the rest is up to the universe. I'll try again when it makes sense.
 

Jodster

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To be 100% clear, I have zero emotion about what is happening. I took my shot, placed my stop loss, and the rest is up to the universe. I'll try again when it makes sense.
Yeah that's what myself and other newer investors are trying to learn. Yourself, Lancers and Zed, among others, are like a hard slap to the face sometimes, but I'm infinitely grateful for the opportunity to learn more.
The stoic logic of how you all approach this is quite refreshing and allows me to reset my expectations most times. I would be FOMO right now, but there are reasons to believe there is more pain to come.
 

Lancers32

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Gold signaled a bear market in 2011-2012 when the previous year's lows were violated. I would watch $1670 and we are not anywhere near that. Still holding lows in Gold and Silver. That was the sell.

FEzR17SUYAsXc2P.png
 

Lancers32

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PSLV starter position risk to under $21.40 close in Silver.
 

Jodster

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Averaging into SILJ and Uranium warrants. Wish me luck, the water's cold.
SILJ.png

URC-WT.VN.png
 

Lancers32

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Twitter post by David Brady of Sprott. This is why you have to think for yourself. Tentative signs of a short term bottom in the pm complex. Could be a lot more. See?
 

jelly

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All I know is that sell-off's this dramatic and fast in the metals, never result in quick, dramatic, or large recoveries. I think at best we get sideway action over the next few weeks.
 

Lancers32

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Goddamn if he didn't turn into Judy.

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Lancers32

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Cut domestic production then beg the World for what you voluntarily stopped making. This guy is a special kind of jagbag. By the time I die I am sure I won't even recognize this country.



 

Lancers32

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Lying. Watch the hands.
 

jelly

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Regardless of where you draw the line, the gold "breakout" has been negated.
gold.png
 

Lancers32

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Everything free in America. So glad to be in America.

 

Zed

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All I know is that sell-off's this dramatic and fast in the metals, never result in quick, dramatic, or large recoveries. I think at best we get sideway action over the next few weeks.

Yes, true... but...

First notice for December is next Tuesday and 144,794 contracts are still open. Given the year that we have had in deliveries, with the expectation that December beats all the other months, it implies 40K ish contract deliveries conservatively.

It could be that people are a little stuck and trying to get out before delivery.

OI ticked up into that $40 fall indicating that short selling was amped up...

1637717085101.png


Suggesting that they hoped to cover the OI expansion and more in the ensuing sell off... waiting for the comex numbers but Barchart makes it look like they dump 70K extra contracts into the day or 7,000,000 moz! That's probably got to be bought back in short order.

Deliveries this year...

1637716720061.png
 

chieftain

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So what's behind this latest smackdown?
 

Zed

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Some gold affirmation... I'm OK, you're OK... well actually I'm OK and you're fucked...

 

Zed

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So what's behind this latest smackdown?

IMO ---> Big delivery month starts next week ... big delivery small gold, must closeout exposure before someone wants the metal. Bash and cover.
 
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Goldhedge

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Best Buy

Screen Shot 2021-11-23 at 9.59.28 PM.png


Liberal socialist utopias such as California are a blessing for deadbeat klepto hobos from around the world thanks to the state's lack of prosecution of shoplifting, but the same policies are becoming a major headache for nationwide retailers such as Best Buy which this morning reported that despite beating on the top and bottom line (revenues of $11.9 billion vs expectations of $11.7BN, EPS of $2.08, beating est of $1.96), its margins missed, echoing the same margin crunch theme that emerged recently with big box retailers such as Walmart.

Gross margin fell 0.1% to 23.5%, Best Buy said, missing the 23.6% average of analyst estimates compiled by Bloomberg, while the decline in the core U.S. operation was steeper. The company also reported a 10% drop in domestic online revenue as more shoppers returned to stores.

But besides the usual margin-crushing suspects of frayed supply chains and deep discounts as a result of stepped-up promotional activity and a drag tied to its new TotalTech membership program, the company brought up the reason why Democrats are looking at far more losses in the coming months as a reason for the margin drop: organized theft.

“We are seeing more and more particularly organized retail crime,”
Chief Executive Officer Corie Barry said on a conference call with analysts. “You can see that pressure in our financials, and more importantly, frankly, you can see that pressure with our associates. It’s traumatizing.”

 
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