The Lunatic Fringe - Market and Trade Chat

Welcome to the Precious Metals Bug Forums

Welcome to the PMBug forums - a watering hole for folks interested in gold, silver, precious metals, sound money, investing, market and economic news, central bank monetary policies, politics and more. You can visit the forum page to see the list of forum nodes (categories/rooms) for topics.

Why not register an account and join the discussions? When you register an account and log in, you may enjoy additional benefits including no Google ads, market data/charts, access to trade/barter with the community and much more. Registering an account is free - you have nothing to lose!

Small down days and sideways days keep the uptrend healthy and ongoing. Tough spot to be in as overbought as the mining shares are, but I think we still get some good short term upside before a correction. But I've been wrong before.
 
Economy in USA starting to cool....

Companies announced nearly 90,000 layoffs in March, a sharp step up from the previous month and a giant acceleration from a year ago, outplacement firm Challenger, Gray & Christmas reported Thursday.

Planned layoffs totaled 89,703 for the period, an increase of 15% from February. Year to date, job cuts have soared to 270,416, an increase of 396% from the same period a year ago.
...
Click to expand...

www.cnbc.com

Layoffs are up nearly fivefold so far this year with tech companies leading the way

Companies announced nearly 90,000 layoffs in March, a sharp step up from the previous month.
www.cnbc.com www.cnbc.com

...
The Labor Department reported Friday that payrolls grew by 236,000 for the month, compared to the Dow Jones estimate for 238,000 and below the upwardly revised 326,000 in February.
...
Click to expand...

www.cnbc.com

Job growth totals 236,000 in March, near expectations as hiring pace slows

The Labor Department reported Friday that payrolls grew by 236,000 for the month, compared to the Dow Jones estimate for 238,000.
www.cnbc.com www.cnbc.com
 
makes perfect sense

2023.04.07 How De-Dollarization Will Affect Capital Markets​

16m
 
My apologies if this has already been posted.

"I Changed My ENTIRE Prediction On Gold & Silver Here's Why" | Rick Rule​


 
Last edited by a moderator:
Man they really pumped Bitcoin the last two days. I really don't know what to think of that market. But, I believe it was done to take some of the steam out of this Gold/Silver rally. We shall see.
 
Voodoo said:
Man they really pumped Bitcoin the last two days. I really don't know what to think of that market. But, I believe it was done to take some of the steam out of this Gold/Silver rally. We shall see.
Click to expand...
They are leaning on it pretty hard. Dollar down a fair bit and yet you can feel the push to get gold back under $2000.
 
Cryptos are a different beast from the commodity markets. While it's possible that central banks (esp. the Fed) are having their proxies (PPT) intervene in the crypto markets, I am not so sure that is what is happening. I expect the Fed and their proxies are pursuing the Operation Choke Point 2.0 agenda. Cryptos seem to be more or less correlated with the S&P right now.
 
pmbug said:
Cryptos are a different beast from the commodity markets. While it's possible that central banks (esp. the Fed) are having their proxies (PPT) intervene in the crypto markets, I am not so sure that is what is happening. I expect the Fed and their proxies are pursuing the Operation Choke Point 2.0 agenda. Cryptos seem to be more or less correlated with the S&P right now.
Click to expand...

Bitcoin is 100% under the powers that be control. I trust that less than the FRN.
 
Bitcoin is due for another halving event next year. The Bitcoin network has it roughly every 4 years. Bitcoin has seen a bull run every time it has happened.

www.coindesk.com

Bitcoin Halving, Explained

The last Bitcoin halving took place on May 11, 2020, and the next bitcoin halving will likely occur in 2024. But what is the halving, how does it affect the price, and what does it mean for miners and the cryptocurrency’s long-term prospects?
www.coindesk.com www.coindesk.com
 
pmbug said:
Bitcoin is due for another halving event next year. The Bitcoin network has it roughly every 4 years. Bitcoin has seen a bull run every time it has happened.

www.coindesk.com

Bitcoin Halving, Explained

The last Bitcoin halving took place on May 11, 2020, and the next bitcoin halving will likely occur in 2024. But what is the halving, how does it affect the price, and what does it mean for miners and the cryptocurrency’s long-term prospects?
www.coindesk.com www.coindesk.com
Click to expand...

And how many other crypto's have having's as well? That can't be unique to Bitcoin.
 
Voodoo said:
And how many other crypto's have having's as well? That can't be unique to Bitcoin.
Click to expand...

I'm not aware of any other crypto that has a halving event like Bitcoin. Most cryptos are built on a different system (Proof of Stake vs. Proof of Work). Every coin has it's own system for handling inflation/deflation and mining/staking rewards.
 
Markets treading water in anticipation of guidance from the Fed.
 
Zed might go on holidays. But he is always in the “Zone”

Correction here could be quite healthy for longer term appreciation?

cheers $
 
Dollars said:
Correction here could be quite healthy for longer term appreciation?
Click to expand...

If this gets messy babies will most probably go out with the bathwater.... again! Some cash could be very useful IF things get disorderly. We have seen this movie before!
 
It's early this morning, but at moment, dollar is red and everything else is green.
 
It usually doesn't take long for Wall Street's "hot takes" to come flooding in after the CPI report, and today was no exception. Below we have collected some of the fastest reactions to the headline CPI miss, although as always, these mini narratives are entirely contingent on what prices end up doing, so if markets reverse their early gains, don't be surprised if the authors pull a 180 degree flipflop.
...
Click to expand...

"Probably Means The Fed Is Done Hiking": Wall Street Reacts To "Cooler" CPI Report | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com www.zerohedge.com

Bank of Canada held steady. Markets expecting Fed to pause. If they don't there will be chaos, if they do, the spice will flow.
 
CPI will be right back to increasing next month. The biggest part of the drop in the CPI was Energy and take a LOOK at the charts of energy the past month.
 
Gold Daily - So far it has been a break and a retest of the break resistance line which is now support. Resisance @ ~2040 looks firm, todays candle isn't great! This has the look of a chart that will slide sideways for a while before people are convinced it's a legit 2K +. The key thing is that support needs to hold @ 2K ish. Fear of big round numbers is kicking in. JMO, My 2c, take with salt etc, etc, etc....

GC1!_2023-04-13_07-34-56.png


ROC falling away and short term momentum rolling off. Ideally they stay + 0 and we stay over 2K to convince the gold skeptics this has legs.

GC1!_2023-04-13_07-52-12.png
 
Last edited:
Zed said:
Gold Daily - So far it has been a break and a retest of the break resistance line which is now support. Resisance @ ~2040 looks firm, todays candle isn't great! This has the look of a chart that will slide sideways for a while before people are convinced it's a legit 2K +. The key thing is that support needs to hold @ 2K ish. Fear of big round numbers is kicking in. JMO, My 2c, take with salt etc, etc, etc....

View attachment 8109
Click to expand...

Armstrong has next week as the target week in Gold. He's thinking that puts in a high and we correct into June. However, Clif thinks the dollar starts to die here at the end of April with the invasion of Taiwan near and Marty's charts also seem to see that coming. But he also said these tops usually break on the 4th attempt (which this technically is if you include the first high years ago. I'm thinking this becomes one of his famous "cycle inversions" and it does shoot higher.
 
It might not be 'the government', but agents OF the government... Goldman Sachs et al.
 
You must log in or register to reply here.
Back
Top Bottom