The Lunatic Fringe - Market and Trade Chat

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I saw that today as well. Finally at the end of the day I bought some puts in GLD. Momentum seems to have dried up to the upside.

CB's are going to backstop all the banks and Biden said everything is fine. No need to worry about the banking system. Even though I don't believe it the masses do and thats all that matters. If they can keep the sheep in the system then all is well. For now.
So thinks calmed down for now. Gold will go back down and everyone back to sleep until the next crisis.
Thats my bet anyway.
 
Zed said:
Money printer go brrrrrrrr.... FREE! See?
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Yeah, and Joey said..."the vax is safe", in a calm voice, and as time went on he eventually yelled, "get the vax", and ended with, "It's gonna be a cold winter, you stupid mf'ers!"...something like that, and now, in a calm voice, the banks are safe.
A cycle is emerging.
 
dpong said:
Here is a good explanation for why I used the term "risk off" yesterday, w/o regard to any Bloomberg terminal. When you see these things, it is risk off.

View attachment 7396
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It's funny how gold alternates between a risk on and risk off asset depending on the tail that's being spun. For many years back there wallstreet was pushing gold as a risk asset.
 
Zed said:
It's funny how gold alternates between a risk on and risk off asset depending on the tail that's being spun. For many years back there wallstreet was pushing gold as a risk asset.
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Which one makes it go down? That's the one we will pick today. This however, is ultimately why you buy it.

This seems SUS

 
Seems like everyone overlooking the rate hike coming next week. ECB raised .5 today so no worries about the banks over there. Stock market up. Gold up. Unemployment low. Why wouldn't JP raise rates next week? At least .25.
 
Cigarlover said:
Seems like everyone overlooking the rate hike coming next week. ECB raised .5 today so no worries about the banks over there. Stock market up. Gold up. Unemployment low. Why wouldn't JP raise rates next week? At least .25.
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Yea, somehow that ECB surprises with a hawkish raise and the market soars some more. That one even has me confused but obviously money poured in from somewhere.
 
Zed said:
PS -> That AI vid is really worth a watch, this thing is on a tear and it's easy to not get the extent of developments.
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I watched it, probably not as attentively as I should have, and also had a tough time always understanding everything the guy who was being interviewed said. Nonetheless, it was striking just how 'in your face' the stuff is. My daughter embraces it. Hope she don't wind up putting her old man in some sort of AI nursing home one day... not that I would know it, I'm sure.
 
Zed said:
ASX Gold Tribe are a bit hot this AM, sitting around +7%
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Interesting. metal are currently being spanked at the Asian open. Wonder if the ASX is trying to catch up to where the Comex/Globex made it to on Friday?
 
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A promo email from Real Vision...

It's a LOL.

Hi there,

On Friday, Raoul Pal and Julian Brigden went live with Pro Macro Insider Talks on Real Vision.

It was more quotable than a Monty Python episode…
  • Raoul: “I didn’t quite expect the banking system to fall apart in like 3 and a half minutes, but it has... It’s not one single cockroach here, it’s a whole f*cking colony of them.”
  • Julian: “I’m an old man and I’m allowed to shout at the TV and throw things at the TV. And one of the things that makes me shout and throw things at the TV is when you get equity guys talking about the shape of the yield curve.”
  • Raoul: “Throw the nuclear bomb that is AI and Chat GPT4 into the equation… and it’s probably the single most deflationary event I’ve ever seen in my life. A banking crisis plus completely replacing the knowledge economy in one go… I’m spinning to catch up with this.”
  • Julian: “We’re in a balls-to-the-wall macro environment.”
As the subject line said — normally this conversation is reserved for Real Vision Pro members. But we made this month’s conversation to all Real Vision members because… well, look around…(!)
 
Goldhedge said:


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This certainly seems like the Big Kahuna now in progress. Zero Hedge now with an article about CRE (commercial RE) having a Nuke going off with most being owned by smaller banks. Oops.

FRC follows up that steller performance with another $11 drop today or 47%. They're finished.
 
savvydon said:
Wow. That chart is quite the statement. Wonder if time zones aren't the only thing you Aussie's are just slightly ahead of us on?
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Yep, and it's setting up the same way in the US Dollar but still hasn't even hit that top test line. But the Dollar has been the strongest currency in the world as well. If we get that breakout in $Gold/US Dollar then that is a Real breakout and it's game on.

 
Well that was a nice runup in Gold that I wasn't fully invested in, FWIW Armstrong originally was looking at early mid April as a high in Gold and a good bottom in June now thinks that might have inverted so a good low in a couple three weeks.
Energy beaten down might be a good spot to buy. Looking at something like BOIL a double nat gas ETF with Proshares. These double/triples scare the hell out of me though you can be right and still lose if the underlying takes too long to move. Not for the rent money. One man's opinion.




Michael Campbell’s MoneyTalks – Complete Show

Michael Campbell's MoneyTalks Podcast. Financial commentary of stocks, equities, real estate, and commodities such as gold, silver, and other precious metals.
mikesmoneytalks.ca
 

More:

Here's everything the Federal Reserve is expected to do Wednesday

The Fed will close its two-day meeting Wednesday with a heavy air of uncertainty.
www.cnbc.com
 
Lancers32 said:
Yeah I know the news wasn't good but First Majestic might be worth a punt after yesterday's debacle.
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I like it. It's going to be a mid-sized pure Silver play now. That is hard to find because silver has just been sat on for decades. As I move out of meme-stocks (hopefully with a good squeeze) I will certainly be buying some.

Silver is UP today? WTH did someone not get the meme that this is a FED decision day?
 
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