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The Lunatic Fringe - Trading talk.

Lancers32

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I threw down a whole bunch of bids just now. This will turn the market around and end green. I have that power :p

I like the way you think.
 

Lancers32

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This shit never ends. Of course this is a goof but the Ministry of Truth sure as hell ain't.


 

Lancers32

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dpong

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Company where I work, for the second time this year (2022) announced the sad passing away of an employee. So that's twice in about 4.5 months. Based on the number of employees in the company that represents 0.22% of our working age workforce dead so far this year.

[Could be coincidental, but that seems a tad high, no?]
 

Lancers32

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Age of the recently deceased employees?
 

dpong

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Lancers32

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Lock the door and throw away the key.


FSFUIINXEAMcXR3.jpg
 

Lancers32

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40 days and 40 nights.


FSKLbwWXwAAxv1Q.png
 

Lancers32

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Lancers32

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Is cheap really a valid reason to buy anything? Nothing is so low it cannot go lower. Does the general pop even know what the price of Silver is?




 

Lancers32

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jelly

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Things are looking pretty hopeless in the precious metals. Usually a good sign for a low, but not always. Until we get some clarity, I'm keeping an eye on the most widely owned of all the gold miners.
Hourly chart of Newmont. Slight channel forming, and watching for the break up or break down as a signal for where the rest of the gold miners go over the next few weeks.
nem.png

I think much of this depends on the USD. It's at strong resistance at $104, and likely to see a pullback. Which *should* push gold higher. Gold has been holding up well in other currencies like the Aussie and Euro. It's just the strength in the USD that has been causing people to bail ship in gold.
 
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jelly

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Gold in Aussie dollars is holding up well...
xauaud.png


Gold in Euros also holding up well...
xaueur.png


I think the key right now is the USD. Does it reverse here at $104, or does is break higher through and result in a multi-month continuation of uptrend?
 

jelly

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As Zed has pointed out many times, often gold and the USD move together. I think this is a time when they move opposite though. We will see. Firm line in the sand for the USD at $104. It seems a crowded trade, so I wouldn't bet on further upside in the USD.

For now, stochastics are still embeded. IMO once stochastics drop, this move is over, and the USD will see a multi-week correction/pullback. Hopefully good for gold.

USD.png
 

Lancers32

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Not a fan of Bitcoin in the long run but I could be wrong but if you are a trader and can stand some heat this might be a place to go long with a stop. Close to a triple bottom. I think they try to flush everything this week coming including Uranium. Monday should test the resolve of long term buy and holders in that sector. We are close to GMTFO at any price. UEC under $3.50 on a close should do it. Seasonals are not favorable.


BTCUSD_2022-05-08_12-19-35.png
 

savvydon

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Is cheap really a valid reason to buy anything? Nothing is so low it cannot go lower. Does the general pop even know what the price of Silver is?




It costs money to mine silver, especially at $100+ per barrel of oil. Not saying silver can't go lower, but at $22/oz my silvered sunglasses tell me there is more upside than down. As for who knows about the price of silver, that would be industry and investors. When it finally catches a tailwind and the price starts to move then the general pop will know.
 

Lancers32

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It costs money to mine silver, especially at $100+ per barrel of oil. Not saying silver can't go lower, but at $22/oz my silvered sunglasses tell me there is more upside than down. As for who knows about the price of silver, that would be industry and investors. When it finally catches a tailwind and the price starts to move then the general pop will know.
More upside than down sure since it can only go to 0 but there is opportunity cost and a look at other investments shows how costly that can be. It was more than twice the price 42 years ago.
 

savvydon

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More upside than down sure since it can only go to 0 but there is opportunity cost and a look at other investments shows how costly that can be. It was more than twice the price 42 years ago.
I have absolutely no doubt that holding silver as an investment comes with opportunity costs. I've been getting kicked in the teeth by the wicked sister for more years than I can shake a stick at. The real question in real time, though, is what investment going forward does not present opportunity cost?

Magic eight ball anyone?...
 

jelly

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It costs money to mine silver, especially at $100+ per barrel of oil. Not saying silver can't go lower, but at $22/oz my silvered sunglasses tell me there is more upside than down. As for who knows about the price of silver, that would be industry and investors. When it finally catches a tailwind and the price starts to move then the general pop will know.
Long term, I think we all know silver is absolutely going higher. Short term though, toward Lancers point, is a risk of oppotunity cost. Silver is getting nervously close to breaking support at $22. If it breaks below $22 and closes below, it could usher in a waterfall decline. For the past 2 years silver has been able hold above $22, and such long term horizontal support is extremely significant. Below $22, and we could head non-stop to $18.50 in days. Gut-check time.

Holding cash is a position. I wish I had moved more to cash a couple weeks ago than I did. If we get the waterfall decline in silver, it would be a great opportunity to buy. But if you aren't in cash, you don't get that opportunity.
 

jelly

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USD making moves higher overnight tonight. If this keeps up, could be a rough monday for the miners.
 

Lancers32

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This fvcking guy makes Pelosi look like a piker. Keep sending money.


Screenshot_20220504-083228_MeWe-768x689.jpg
 

Lancers32

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Original Goldbug forgot more than the guy you currently follow will ever know. Held Uranium through the bear so no one is always right even one of the best ever.


 

Lancers32

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UEC small at $3.70 shits and giggles.
 

dpong

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Original Goldbug forgot more than the guy you currently follow will ever know. Held Uranium through the bear so no one is always right even one of the best ever.
Blast from the past!
 

plata_oro

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Gold in Aussie dollars is holding up well...
View attachment 258092

Gold in Euros also holding up well...
View attachment 258091

I think the key right now is the USD. Does it reverse here at $104, or does is break higher through and result in a multi-month continuation of uptrend?
I think they actually want a stronger dollar to suppress higher oil prices. They won't succeed. They will only make things worse for themselves as there is roughly $31 trillion in US gov't debt that has to be repaid in stronger dollars. They are stuck and will eventually print but not until after the November election is my guess. Near term DXY to 110-120.
 

Jodster

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I think they actually want a stronger dollar to suppress higher oil prices. They won't succeed. They will only make things worse for themselves as there is roughly $31 trillion in US gov't debt that has to be repaid in stronger dollars. They are stuck and will eventually print but not until after the November election is my guess. Near term DXY to 110-120.
They have to pass it before the Mid-terms. The Demoncrats are going to lose November bigly. They will struggle to pass something without a majority. Seems to me this summer will be a bonfire of fiat currency.
Meanwhile I felt an anger this morning I haven't felt in a LONGGGG time. If I ever had time alone, in a room, with the market manipulators, I would do unspeakable things to them. Unspeakable.
 

plata_oro

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They have to pass it before the Mid-terms. The Demoncrats are going to lose November bigly. They will struggle to pass something without a majority. Seems to me this summer will be a bonfire of fiat currency.
Meanwhile I felt an anger this morning I haven't felt in a LONGGGG time. If I ever had time alone, in a room, with the market manipulators, I would do unspeakable things to them. Unspeakable.
At least your not Michael Saylor. He bought some computer code on leverage. No manipulation. People that have to sell are selling. The time will come to buy just be patient.

The market manipulators will do themselves in. More splats than 9/11 and several self inflicted gun shot wounds scattered around the country. At least they got to "work" from home. Meanwhile Cathy Wood will f*** her way outta her troubles. You know just like one of the boys would.
 

Lancers32

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Fairly critical areas to hold around here. PM and Uranium.
 

Jodster

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Fairly critical areas to hold around here. PM and Uranium.
This feels like a repeat of April 2020, except I was expecting one more run higher before the Zombie Apocalypse. Apparently we took the shortcut.
 

jelly

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Original Goldbug forgot more than the guy you currently follow will ever know. Held Uranium through the bear so no one is always right even one of the best ever.


“In lieu of sending flowers the family requests that you get yourself properly dressed, grab some excellent reading material, take yourself to lunch and order a nice glass of wine.”

Sounds like a classy guy. I bought his goldbug book back in 09, but wasn’t a subscriber. Sad to see him go.
 

jelly

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Fairly critical areas to hold around here. PM and Uranium.
I hope it does hold, but not seeing any signs of turning around just yet. As long as silver is below $22 it’ll continue lower. Got to get back above 22 to have any hope
 

Lancers32

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Still probing for a bottom here.


Jennifer-Lopez-18.jpeg
 

Lancers32

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If you have the stomach for it and have the discipline to use stops today might just be a time to buy a little.