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The Lunatic Fringe - Trading talk.

Zed

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Zed, what are you thoughts on this move? ending soon?
Longview I think we have got quite some way to go here, 18 to 24 month range would seem about right to me. Shorter term we look to be at levels that have delivered multi month pull backs in the past. The monthly chart looks like it could quite easily form a handle @ this time. Mid 1500's then a rally is quite possible IMO. Watching this month to see if we get a breakout, if so hopefully it is significant but I'd have to say the odds favor a sell off @ this point.
 

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The handle on the biggest cup/handle you will ever see has been completed...

Now comes the fun...

View attachment 173434
Silver busting a move overnight AGAIN. This should be interesting ...
GSR looks like it will break that long term up trend this month. That said it is looking over done on the downside. Short term there is some concern but looking bullish long term.
 

Zed

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Flat opening here for the ASX Gold tribe. Looks like they need to be convinced that this is real.
 

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Gold will destroy the Fed.

-Q

And silver may very well be the lever that is used to accomplish the job...
 

Zed

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USDX - I think that Gold and Silver will probably do well until something like USDX 93 then I think that the USD rallys and we have 'risk off' with all the late entrants selling out of gold, stocks etc. After a shake out gold should regain its footing sooner and do well, just looks like we are getting a little frothy. I think we will be back to USD and gold up together for a while after that.

DXY-M-20200722.jpg
 

Strawboss

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GSR looks like it will break that long term up trend this month. That said it is looking over done on the downside. Short term there is some concern but looking bullish long term.
1595378846912.png
 

Strawboss

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Silver just broke $23 in the futures...

Meanwhile - gold is dicking around at $1845 (which happens to be one of Louky's 9's...midway point actually between 1800 and 1890)...
 

Strawboss

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Hell, spot price is up to $22.75 as I type. The sheer force of this thing has me thinking we could approach $26 before silver lets up off the gas.
Depends on how many shorts need to cover and how deep their pockets are to sustain losses...
 

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Overnight war going on in silver. I wouldn't be surprised if NY session is a reversal lower. Frothy moves like this don't last long.
 

Zed

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Silver just broke $23 in the futures..
Waiting for those delivery numbers, I think that they are REALLY tight this month so Silver should go up until July is zero OI.
 

Strawboss

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Meanwhile - gold is dicking around at $1845 (which happens to be one of Louky's 9's...midway point actually between 1800 and 1890)...
15 minutes later gold is $20 higher...

Bitching works...(just ask Shootie)...
 

Strawboss

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We are slightly more than 2% from golds all time high in the USD...

Silver has SO MUCH catching up to do...
 

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dpong

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And silver lags and then surpasses.
 

Zed

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Silver July Delivery sits @ 15216 as of the 21st. Waiting on OI numbers.
 

Strawboss

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Silver July Delivery sits @ 15216 as of the 21st. Waiting on OI numbers.
Thats over 15 million ounces...
And isnt even including the new OI that will stand for delivery if the past few months are any indication...
 
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Trump on the news conceded defeat to the virus and now saying its gonna get worse before it's eliminated. could that cause the rally tonight?
 

Strawboss

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Zed

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Thats over 15 million ounces...
And isnt even including the new OI that will stand for delivery if the past few months are any indication...
76,080,000 oz or 2366 metric tonnes.
 

Strawboss

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76,080,000 oz or 2366 metric tonnes.
There you go introducing facts and shit into the conversation...

I was sitting over here minding my own bizness....drinking and toking...trying to get the alcohol and THC levels optimal...

:beer:
 

Zed

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There you go introducing facts and shit into the conversation...

I was sitting over here minding my own bizness....drinking and toking...trying to get the alcohol and THC levels optimal...

:beer:
... I was just agreeing, yes it is a tad over 15Moz.
 

Strawboss

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... I was just agreeing, yes it is a tad over 15Moz.
Just a tad...

I was close enough for hand grenades anyways...
 

Zed

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Thats over 15 million ounces...
And isnt even including the new OI that will stand for delivery if the past few months are any indication...
A shit ton is another term we could use! By far and away the biggest number I can remember and I will venture to say EVER. Yet no one is yelling Comex Default or Cash Settle Premium or anything like that! Which means that it is now possible! :p:D


:stfu:
 

Strawboss

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A shit ton is another term we could use! By far and away the biggest number I can remember and I will venture to say EVER. Yet no one is yelling Comex Default or Cash Settle Premium or anything like that! Which means that it is now possible! :p:D


:stfu:
And Eric Sprott is about to have a license to go buy $1.5 BILLION in silver...about 8% of TOTAL GLOBAL PRODUCTION...
 

Zed

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Zed

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And Eric Sprott is about to have a license to go buy $1.5 BILLION in silver...about 8% of TOTAL GLOBAL PRODUCTION...
Yeah, I posted that one yesterday... It could get silly!
 
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Zed

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Prelim Silver OI for Tuesday still @ 1,396 with 7 trading days to go.

Potential 16612 contract deliveries by months end.
 

Zed

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Zed

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jelly

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I'm debating with myself wether or not we get a short term pullback here, or if we're heading straight to $1935 gold and $45 GDX.