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Silver -Daily WOW l@@k that daily candle. That's a bit special. To be honest, that's a bearish candle BUT I've noticed that in this context i.e. after bearish periods, tall candle wicks tend to indicate that a reversal is developing. I half expect some strength next week off the back of this.

SI1!_2023-09-30_07-42-18.png


Either that or the whole world swan dives out of the plane window...!
 
Last night...

Gold -0.67%
GDX -0.52%
GDXJ -0.43%

Tell me gents, what is wrong with that picture?

Someone is buying the riskier gold assets for a reason.
 
Zed said:
Silver -Daily WOW l@@k that daily candle. That's a bit special. To be honest, that's a bearish candle BUT I've noticed that in this context i.e. after bearish periods, tall candle wicks tend to indicate that a reversal is developing. I half expect some strength next week off the back of this.

View attachment 10624


Either that or the whole world swan dives out of the plane window...!
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Yea I saw that and decided I didn't want to hold any position over the weekend. It does look like it want to visit 22 though.
 
Lancers32 said:
I don't know how it is in the rest of the country but if you live in North Carolina you have to be dirt poor to get Medicaid.
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In Alabama you also have to be dirt poor to get Medicaid. A lot of people are on Medicaid in Alabama.
 
Cigarlover said:
Yea I saw that and decided I didn't want to hold any position over the weekend. It does look like it want to visit 22 though.
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It looks like something big has been backed into a corner, that was a big old swipe, and silver has been looking strongish.
 
Zed said:
Silver -Daily WOW l@@k that daily candle. That's a bit special. To be honest, that's a bearish candle BUT I've noticed that in this context i.e. after bearish periods, tall candle wicks tend to indicate that a reversal is developing. I half expect some strength next week off the back of this.

View attachment 10624


Either that or the whole world swan dives out of the plane window...!
Click to expand...
Once again I finally showed a bit of maturity entering a trade. I think the secret is that I have been getting kicked in the balls so long I just don't give a shit any more and do what I do based on principle and leave the emotion out of it. A few weeks ago I had a good trade with SLV call options. I wanted to put the money I made into some long term SLV 1/25 calls. I put in a limit for these and today it filled near the bottom. If we ever get that run up toward $30 in the next 15 months or so in silver I should be looking good. we c...
 
savvydon said:
In Alabama you also have to be dirt poor to get Medicaid. A lot of people are on Medicaid in Alabama.
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What do you call dirt poor?

Half of China lives on $140USD a month! That blew my mind, talk about a country with a wealth gap!
 
savvydon said:
Once again I finally showed a bit of maturity entering a trade. I think the secret is that I have been getting kicked in the balls so long I just don't give a shit any more and do what I do based on principle and leave the emotion out of it. A few weeks ago I had a good trade with SLV call options. I wanted to put the money I made into some long term SLV 1/25 calls. I put in a limit for these and today it filled near the bottom. If we ever get that run up toward $30 in the next 15 months or so in silver I should be looking good. we c...
Click to expand...

It's going to boom or bust! Straddle? Strangle?
 
Zed said:
What do you call dirt poor?

Half of China lives on $140USD a month! That blew my mind, talk about a country with a wealth gap!
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Yeah I guess the definition of dirt poor is a relative thing... In Alabama a family of 4 has to have an income below about $40,000 a year to qualify for Medicaid.
 
Zed said:
What do you call dirt poor?

Half of China lives on $140USD a month! That blew my mind, talk about a country with a wealth gap!
Click to expand...
I think the limit for Medicaid in North Carolina is around 15K. That's dirt poor some in Appalachia live on less.
 
Zed said:
It's going to boom or bust! Straddle? Strangle?
Click to expand...
I don't know why I must have a defective gene when it comes to more complex option operations. I am so busy and scattered I just don't have the time and mental energy to conceptualize more complex trades. All I know is that silver is dirt cheap right now, and that upside looks greater than down side. I figure 15 months buys me some time and the likelihood of silver moving up even modestly during that time is decent. Thanks to last month's trade I'm playing with house money anyway. Still, I'm no one's pro. You won't see me trying to sell a newsletter filled with my trading secrets any time soon.
 
savvydon said:
Yeah I guess the definition of dirt poor is a relative thing... In Alabama a family of 4 has to have an income below about $40,000 a year to qualify for Medicaid.
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I hear banjo's...

Stereotypes, LOL, they are a terrible thing!

I'm told that Kentucky is really Banjo country.
 
savvydon said:
I don't know why I must have a defective gene when it comes to more complex option operations. I am so busy and scattered I just don't have the time and mental energy to conceptualize more complex trades. All I know is that silver is dirt cheap right now, and that upside looks greater than down side. I figure 15 months buys me some time and the likelihood of silver moving up even modestly during that time is decent. Thanks to last month's trade I'm playing with house money anyway. Still, I'm no one's pro. You won't see me trying to sell a newsletter filled with my trading secrets any time soon.
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In low volatility, buy long-dated, just out of the money puts and calls. Close it all out when the vocality arrives, which it will!
 
savvydon said:
Yeah I guess the definition of dirt poor is a relative thing... In Alabama a family of 4 has to have an income below about $40,000 a year to qualify for Medicaid.
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Same here. 20k for 1 40k family of 4. Some years ago you could manage on that but with the run up in prices it is very difficult. I don't think they're giving away apartments these days. Forget a new car.
 
Zed said:
I hear banjo's...

Stereotypes, LOL, they are a terrible thing!

I'm told that Kentucky is really Banjo country.
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LOL years ago I was on a binge renting RVs during the summer and taking the family all over the states. One night we were due to camp in Kentucky. There was some sort of snafu and the site was filled. We had a couple of semi frightening banjo laden encounters that evening and decided to high tail it down to Tennessee and take a hotel for the night. Sometimes difficult circumstances make for the best memories.
 
This is indicative of a lot of the Uranium stocks and ETF that I follow. Monster volume bearish engulfing candles the bulls on Twitter doing victory laps. Caution is warranted here. Almost all of the stocks look this way parabolic moves this type of candle and monster downside volume. At least some consolidation is necessary for a prolonged move up. Remember what happened to Lumber a few years back.


URNM_2023-09-29_19-12-02.png
 
Lancers32 said:
This is indicative of a lot of the Uranium stocks and ETF that I follow. Monster volume bearish engulfing candles the bulls on Twitter doing victory laps. Caution is warranted here. Almost all of the stocks look this way parabolic moves this type of candle and monster downside volume. At least some consolidation is necessary for a prolonged move up. Remember what happened to Lumber a few years back.


View attachment 10625
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Yeah... that gap a 42 looks like a magnet.
 
Sure is a lot of opinions out there backed up with facts and charts.

My opinion is similar to some in the videos everyone is posting.

1) For years we always heard, "dont fight the fed"
2) The fed has said rates will be higher for longer than anyone expects. Now all of a sudden the markets want to go against the fed and IMO the markets really haven't priced in rates being higher for longer.
3) The fed hasn't really said this but basically they want higher unemployment and a recession. That is how they lower inflation.
3a) The 2 tools they have are higher interest rates and QT
4) Unemployment is creeping up. Americans are getting poorer by the day with higher prices in everything. (Not just Americans but I am speaking about the US markets) Credit card debt at record highs after just having trillions in stimulus money to play with.
5) Hedgies are going short

To me it looks like lots of bearish signals which means we will probably fly to the upside. LOL.
 
"Don't fight the Fed" was their rationale for no-brains investing; but...no brains.

The brainless confuse wishful thinking with reality. The REALITY is, Powell wants...NEEDS...rates to go higher. To prevent the implosion of Treasury notes - which Powell's primary job is, buying and monetizing.

Tom Luongo believes Powell is at heart a blue-blood patriot, fighting off CBDCs and bank consolidation, and, posits Luongo, Powell's way is to save the dollar against those who want it imploded, to make substitution of FedCoin easier.

That may or may not be true, but it doesn't appear Jerome Powell is giving an inch.

But the current crop of market traders, most of whom have known nothing but QE and monetizing the debt and ZIRP...don't know any other environment. They're scared; and so they engage in fantasy and in cheerleading. Oh, look, inflation (represented in fantasy numbers by BLS) is slowing, of COURSE we're gonna go zero-bound.

This is where the brain-dead, get what stupid people, in over their heads, always get.
 
Cigarlover said:
It's a long way to the bottom. Bottom being 2020 lows. We have o break 22, then 17.50 then we can get to 11.65.
Looks like a nice run up this morning to take out the short stops. If 22 doesn't hold then I'd guess that the selloff is pricing in the recession that seems likely. If 22 holds then it's still possible to get the end of year rally.
View attachment 10617
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Time to look at this all again. Sentiment is in the toilet but that doesn't have to mean we rally much.
 
Lancers32 said:
Anecdotal. Silver Symposium.

View attachment 10634
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I see a large room that's not near full with tables and chairs setup to accommodate registered attendees. I have had a few people over the past couple years express interest in metals. In contrast I have had greater than 50% of people I know express interest in crypto.
 
Lancers32 said:
That's the problem. Did you know you can buy Gold at Costco?
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They have a limited amount of Fortuna bars that come available from time to time. They do sell out quickly. Which is weird because they are charging sales tax even in non-sales tax eligible states.
 
BeefJerky said:
They have a limited amount of Fortuna bars that come available from time to time. They do sell out quickly. Which is weird because they are charging sales tax even in non-sales tax eligible states.
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Is Costco based in California?

Because the blood-suckers in California, insist that sales tax be paid by all persons or businesses doing business there. Paying sales tax to another state waives California tax liability, but when there is NO tax required from the buyer's state, California must get its tribute.

I'm not a lawyer - I just play one on the internet. But that's what I've been told.
 
Casey Jones said:
Is Costco based in California?

Because the blood-suckers in California, insist that sales tax be paid by all persons or businesses doing business there. Paying sales tax to another state waives California tax liability, but when there is NO tax required from the buyer's state, California must get its tribute.

I'm not a lawyer - I just play one on the internet. But that's what I've been told.
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Costco's headquarters is in Issaquah, Washington
 
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