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The Lunatic Fringe - Trading talk.

gnome

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nasdaq near all time highs, while more than half the index is making new lows

Screen Shot 2021-11-23 at 11.13.18 PM.png
 

Lancers32

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


When you're broke but the market structure isn't. Yet.
 

Lancers32

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CRB Stewart Thompson. Bitcoin support levels. Seems as if everyone is waiting to buy 52-53K a lower level would hurt. Two charts.

crb.png
btc o.png
 

jelly

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Despite gold negating its breakout, it seems that overall investor sentiment is that the sector is still bullish. Mining shares are still making higher highs and higher lows, and are also staying above their 50DMA, both important to still be considered in a bullish position. RSI still above 40 as well.
So, things aren't looking pretty, but it's not a deathblow to the sector yet.
gdxj.png
 

Jodster

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Despite gold negating its breakout, it seems that overall investor sentiment is that the sector is still bullish. Mining shares are still making higher highs and higher lows, and are also staying above their 50DMA, both important to still be considered in a bullish position. RSI still above 40 as well.
So, things aren't looking pretty, but it's not a deathblow to the sector yet.
View attachment 233975
It's like a corpse farting, and everybody thinking it's still alive...
 

Lancers32

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It's like a corpse farting, and everybody thinking it's still alive...

Thinly traded for the most part and a short week. I wouldn't make too much out of anything. I see Grandich posted that he bought a $hitload of AZMCF so I wouldn't take the volume as a clue it will break out.
 

Zed

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Gold... well that flipped quickly.

gage.png
 

Zed

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It's like a corpse farting, and everybody thinking it's still alive...

It's been dead for years... I don't think it can get that much deader...
 

Zed

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Yeah... I think the options forecast project is a fail... after a good start it's been a big miss all round and I can't see a way of fixing it.
 

savvydon

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Yeah... I think the options forecast project is a fail... after a good start it's been a big miss all round and I can't see a way of fixing it.
This is just a wild ass guess, but maybe the preponderance of shorts are commercial/banker while the majority of specs are long. If so, and the numbers are coming in low, maybe your project is a proxy estimate of how hard the metals are being held back? 2c...
 

Zed

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Great perspective. Sometimes I get narrow minded and forget there's more than just the US dollar. Looks much better in the Aussie dollar.

Often AUD Gold is a good indication of the true state of the market.
 

jelly

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US dollar has it's rocket boosters on.
Anyone know why it's going ballistic? People jumping into cash?
Regardless, like Zed hinted at, likely why the gold chart in USD looks worse than reality.
usd.png
 

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It's like a corpse farting, and everybody thinking it's still alive...
It's been dead for years... I don't think it can get that much deader...
Yep.

That's why 'charting' is a fools errand IMO.

If it helps you that's great, but for me... I'm sitting on the sidelines.

Not only is it a farting corpse, it's like vultures picking over the bones while trying to figure out when the body will rise from the dead.
 

Jodster

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Yep.

That's why 'charting' is a fools errand IMO.

If it helps you that's great, but for me... I'm sitting on the sidelines.

Not only is it a farting corpse, it's like vultures picking over the bones while trying to figure out when the body will rise from the dead.
And yet it’s tickling everybody’s fancy at the moment. A rush into a dead dollar would be Quite the catalyst for a bubble pop.
 

dpong

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AG has so far avoided closing below my stop loss. Surprisingly.

AG_2021-11-25_08-36-38.png
 

gnome

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It's all about the top 5-7 stocks! Armstrong's Blue Chip forecast?!
Yep, mega caps. I must have missed Armstrong's blue chip forecast? Also some of the hyped pandemic trades are unwinding. Stocks like Peloton, Zoom, Teladoc, etc.
 
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gnome

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Lancers32

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Yep, mega caps. I must have missed Armstrong's blue chip forecast? Also some of the hyped pandemic trades are unwinding. Stocks like Peloton, Zoom, Teladoc, etc.


No other place for the big money to go.
 

Lancers32

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Lancers32

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In a soon to be published article on Sprott David Brady warns of the risk of a Holiday raid by the banks in the metals and miners. Called the bottom the other day. :belly laugh:
 

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Jodster

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When has it not?
So true. I mean why would we even be on a site called “Goldismoney2”?
There’s a lot of witty, intelligent or unconventional people who call this place home.
The fact we can have bulls and bears, sharing their experiences, their wins and losses is pretty impressive on it’s own.
The added insight is just a bonus.
 

gnome

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Oldmansmith

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Gold up, stocks down pretty big pre market on news of the new variant out of South Africa.
 

Lancers32

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BTC under 54K presently. Fear Greed on the bearish side of neutral.
 

Lancers32

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Market down big Dow down 800? Well yeah if the Dow was sitting in 4 figures not 5. This will not be the last variant anyone not made with a carrot saw all of this coming. Now the fun begins.
 

Lancers32

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FFG0mCrXIAE1ty-.png
 

Lancers32

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Risk off Gold up Silver down. The guy with the beard was right.
 

BigJim#1-8

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Dow -914 as of this post. Red Friday.
 
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Jodster

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Getting my head smashed in on the commodities market. WTF is going on?

I know Black Friday had huge discounts, but I didn’t realize I was the seller...
 

dpong

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US Major markets close at 1pm today.