1. Same story, different day...........year ie more of the same fiat floods the world
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  3. Week of 6/24/2017 Closing prices & Chg Over Last Wk---- Gold $1256.40 Silver $16.64 Oil $43.01 USD $96.94
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Charts from the Lunatic Fringe.

Discussion in 'PM Trading/Stocks/Technical Analysis' started by Zed, Oct 21, 2014.



  1. louky

    louky Silver Member Silver Miner

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    Look like it's gonna pop soon above 2.32. Then i'll be feeling pretty like a girl with my makeup ;)
     
  2. Zed

    Zed Size doesn't count! Midas Member

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  3. jelly

    jelly Seeker Seeker

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    The bubble in the banks appears to have popped today. Looks like they could lead the indexes down. The indexes appear to have gotten exhausted recently, and are due for a pullback. I think we are starting a correction here in the general markets, and if so, I expect it to end this multi-year nonstop bull market.

    In markets past, it's usually been a large company that unexpectedly went bankrupt, which caused the end of the bull market. I don't know what event cold cause a more serious correction from here in today's market. All I know is techinically speaking, looking at the weekly charts, we are exhausted and overbought here. The only melt-up we could see at this point is just a quick blow-off top. Which it appears the past 2 weeks has been the blow-off top.

    This is my $.02, so take it for what it's worth. My opinion will change if the market says otherwise!
     
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  4. Goldhedge

    Goldhedge Modal Operator/Moderator Site Mgr Site Supporter

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    Can you 'splain this? What are you looking at? 'Swing, call volume' ??



    You look good in makeup!!


    :loved:
    .
     
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  5. Zed

    Zed Size doesn't count! Midas Member

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    It needs to happen... but so many people have been fried making that call! Short this thing @ your considerable risk.
     
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  6. louky

    louky Silver Member Silver Miner

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    I just meant it's a swing play, as in i'm not going to hold it long term, but not a day trade either. Since you were talking about fundamentals, which I agree.

    Main reason I bought was 1) look like it's basing. So far, i'm in at the low 2.25. Stop at 2.21, which would be a breakdown, but i dont think will happen. Looks like large buyers normally show up at this level. Last few days, large institutional block trades at 2.26-2.30 confirm.
    2) options flow, there's been good amount of call volume above $2.50. "Follow the money", so to speak, is what i meant by that.
     
    Last edited: Oct 13, 2017 at 1:57 AM
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  7. louky

    louky Silver Member Silver Miner

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    I would think gold will hit 1377 this year, so maybe jelly is right and general market pulls back, which i believe would help propel metals. I will be careful of the miners tho.



    Oct 20-23 is a strong date range, typically should provide a reversal point. Similar to 8th-10th dates, which were somewhat confusing since we got bottom on 6th and a nice positive trade into 8th, 9th, 10th, but miners signaled top on 10th. So i'm still not sure about the 20th date just yet. Assumption is it would be a reversal down, with diwali 19th and october generally being negative for gold in terms of seasonality.

    Maybe the market pulls back here as jelly suggests. We are starting to base on 1296. So it's possible a catalyst is coming. You recall what happened the last time? Fake north korea news hit just as 1296 became support amd sent gold straight to 1359 like i said would happen months before. So it's possible to get a catalyst now and be testing bottom of the upper box (1359) by 20th date range, but timing is getting very tight so i dont think so.

    Just rambling, no upward targets yet.
     
    Last edited: Oct 13, 2017 at 2:19 AM
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  8. louky

    louky Silver Member Silver Miner

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    Sushi....

    "Start buying gold at 113"....few weeks ago

    Topping is a process

    111.70 break and gold will rip

    [​IMG]
     
  9. louky

    louky Silver Member Silver Miner

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    [​IMG]
     
  10. louky

    louky Silver Member Silver Miner

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    [​IMG]

    25/26 gdx will tell the story
     
  11. Goldhedge

    Goldhedge Modal Operator/Moderator Site Mgr Site Supporter

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    Not to be aksin dumb questions... but how, or where do you find this info? "Looks like large buyers normally show up at this level", "Institutional block trades", and "options flow"...? :don't know:

    I'm a bit of a neophyte when it comes to investing and any understanding I can glean has got to help.

    I can 'see' the charts, but knowing where to ferret out all this data and make sense of it is still a mystery. TIA
     
  12. bemac

    bemac Midas Member Midas Member

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  13. louky

    louky Silver Member Silver Miner

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  14. louky

    louky Silver Member Silver Miner

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    just hit the red line, watch after hours finish on 1305

    [​IMG]
     
  15. louky

    louky Silver Member Silver Miner

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  16. louky

    louky Silver Member Silver Miner

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    [​IMG]

    [​IMG]
     
    Last edited: Oct 13, 2017 at 4:56 PM
  17. louky

    louky Silver Member Silver Miner

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    You need a stock scanner for this, or there are services that provide alerts.

    www.flowalgo.com

    there's free services and apps too that will give basic data
     
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  18. louky

    louky Silver Member Silver Miner

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    GDX, Grinding. HH's and HL's

    [​IMG]

    [​IMG]
     
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  19. louky

    louky Silver Member Silver Miner

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    No mans land 1305 to 1359. High risk area, can reverse any time. Not like the boxes where I've shown how those are predictable.
     
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  20. louky

    louky Silver Member Silver Miner

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  21. Zed

    Zed Size doesn't count! Midas Member

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  22. louky

    louky Silver Member Silver Miner

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    Need more back testing on 1296 I think to be confident in sustained higher, but I guess we'll see.

    What about 1317-20, then pull back to 1296 just like on the left side of that white line before higher?

    That would create too obvious of an inverse h&s, right?



    [​IMG]



    I keep thinking back to last year and how these failed over and over before huge dump city.
     
  23. louky

    louky Silver Member Silver Miner

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    Dueling inverse h&s

    [​IMG]




    [​IMG]





    [​IMG]
     
  24. savvydon

    savvydon Gold Member Gold Chaser

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    Right up there with ‘I promise I’ll pull out in time’.
     
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  25. Zed

    Zed Size doesn't count! Midas Member

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    Headlines like that all but seal the deal, don't they?

    I mean Goldman bear call and all....

    1420+ and we are going to fly. JMO
     
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  26. louky

    louky Silver Member Silver Miner

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  27. Zed

    Zed Size doesn't count! Midas Member

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  28. louky

    louky Silver Member Silver Miner

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  29. louky

    louky Silver Member Silver Miner

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    The odds are very good that 111.70 usdjpy breaks this week
     
  30. louky

    louky Silver Member Silver Miner

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  31. Zed

    Zed Size doesn't count! Midas Member

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  32. bemac

    bemac Midas Member Midas Member

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    That sounds hard to believe.
     
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  33. louky

    louky Silver Member Silver Miner

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  34. louky

    louky Silver Member Silver Miner

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  35. louky

    louky Silver Member Silver Miner

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    1305 rejected, smack
     
  36. southfork

    southfork Mother Lode Found Mother Lode

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    Metals fell out of favor with the overlords
     
  37. Zed

    Zed Size doesn't count! Midas Member

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    Yeah but this is globex action, thin market activity. They're not hitting it in the comex hours. Not that this means it won't happen just that they are on plan b already.
     
  38. Zed

    Zed Size doesn't count! Midas Member

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    It does sound incredible doesn't it? I must admit that I have never considered the energy consumption of crypto currency, whichever way you turn it it is an overhead but then I guess printing and transporting money is as much of an overhead. You would think that digital would be far more efficient but this mining process gets more energy intensive as time goes on and really it's not actually productive other than the Bitcoin itself. It is a huge amount of energy spent solving what is effectively a riddle. In this sense a Fiat or government controlled crypto-currency would have an efficiency advantage. For a number of reasons I think Fiat crypto is where we heading, hopefully that's is coordinated with a sobering of money management techniques, at least for a period of time.
     
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  39. Zed

    Zed Size doesn't count! Midas Member

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    Before everybody gets holier than thou, let's remember the cost of getting gold out of the ground. Yikes, that s*** is expensive to dig!
     
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  40. bemac

    bemac Midas Member Midas Member

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    I'm certainly no expert, but two things, it's supposed to work like that, as it takes energy to mine gold, the same goes for btc, and I believe the crunching of algorithms is used to process other btc moving from one wallet to another, so there is a purpose (I could very well be wrong about this).
     
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