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!

Lancers32 said:
My best guess at this point is you could just hold and or buy the pm complex and the energies on any weakness. No leverage unless you're brave or smart. Brent Johnson Cigarlover?
Click to expand...
Sounds solid to me. I'm thinking gold to 1800-1850 over the summer and silver maybe 20. I have some zsl. Will wait for the summer selloff and then cash that in and buy more miners, hopefully on sale. Thats my plan. Of course dont follow me because my plans have turned to bird droppings all year so far.
 
Goldhedge said:
as did a lot of folks... makes one wonder where all the money went....
Click to expand...
It didn't really go anywhere. It was never there in the 1st place.
If there is 100 shares of xyz stock and people buy it up and the last trade is 10.00 a share then we say xyz has a market cap of 1000 dollars. However if everyone decides they no longer want that stock and everyone starts to sell then the price could go to pennies or even 0. There isn't 1000 dollars sitting there so everyone can cash out at 10.
Remember when the big push came in the early 90's for 401k's and ira's? Tax credits for doing it so everyone would throw their money into the stock market. So , every month, billions pour into 401k's and have to be invested in the markets. They can't short, can only go long and they cant sit on cash for very long. No money markets either. This has Wall Street scam written all over it but millions pour their money into it every month. They have no clue who is managing their money or what parameters that person has to deal with. In reality Wall Street puts the word out to buy XYZ stock and fund managers pour money into it. JPM and GS 1st buy big positions in XYZ and then send the word down to fund managers that this is a great investment and everyone should be in it. Wall Street cashes out on the way up and everyone else is left holding the bag.
in 1990 the dow was around 1000 then the 401k's got pushed for a decade and in 2000 the dow was 10k or more (I forget exactly) Thats all because of 401k's. People didn't want to invest in the market before then. Lots of peoples parents and or grandparents had lost it all in the crash and then lived through the great depression. They had a good understanding of what happened and what I explained above so 2-3 generations stayed out of the markets.
What I haven't figured out is, is there enough money flowing into 401k's to prop the market up and never let it crash? If fund managers cant sell into a falling stock market then who can and is there enough of those people to crash the market? I'm sure that info is out there somewhere. Blackrock is what, like 7 trillion worth of the stock market? What rules do they have to play by?

The only thing I know for certain is someone has all of those answers and many many more and they rig the game or game the system to their advantage. The average guy doesn't stand a chance in these markets.
 
www.armstrongeconomics.com

The Rule of Law – BEWARE Crypto-Lovers | Armstrong Economics

COMMENT: Mr. Armstrong; I think it might be helpful to explain to people that the government can subpoena any third party with regard to cryptocurrencies and they will turn over whatever they have that will incriminate a person. As a lawyer, I have to defend a client who thought Bitcoin was...
www.armstrongeconomics.com www.armstrongeconomics.com
 
Zed said:
No comment.

View attachment 8371
Click to expand...
Ok, well I'll take a stab at it for ya...

That damn chart looks like a panther ready to pounce, like a python coiled to strike!

I'll go out on a limb here and state that it is hard to imagine gold not moving up on what Powell has to say tomorrow. Between crappy numbers and this bank falling domino thing, he must feel like he is under a shit ton of pressure. If he stays the course and hikes, I think the markets may have a hissy fit. He will then try to calm them by soft pedaling his comments about future hikes - good for gold. If he pauses in the midst of these bank failures, he risks losing face, the markets love him, and everyone realizes the pivot is at hand - good for gold.

Anyway, there is still a lot of month left on that chart and anything can happen. But if the wheels fall off and gold surges to an all time high, the next candle on that chart is gonna have quite the vantage point. 2c...
 
Fed announcement due today...

... the Fed is likely to raise interest rates by 0.25 percentage points to a range between 5% and 5.25%. According to the CME's FedWatch Tool, there is an 88% probability that the Fed will raise rates this week.
...
Investors will scrutinize what Fed Chair Jerome Powell says about future interest rate increases. Karen Dynan, a former chief economist at the Treasury Department who is now at Harvard University, told the Post, “The interesting thing is what they’re going to signal about the future, whether they’re going to change their rhetoric” to a less hawkish stance.
...
Experts have different views of what will happen next — none of which are bullish on the banking system or the economy.
...
Click to expand...

www.forbes.com

PacWest Stock Falls 39% After Federal Reserve’s Latest Interest Rate Hike

PacWest stock plunged 28% after Jamie Dimon issued a vote of confidence in the banking system. Be skeptical.
www.forbes.com www.forbes.com
 
Man Nat Gas and energy is just getting sold and crushed again. Like there are no people left who want to stay warm or move around.

Also, it seems like the premiums in silver have held steady the last few weeks with the small decline or even come in a bit. But, has anyone else noticed the premiums on Gold? Looks like they have expanded here recently. Even a gold Buffalo at two major sites are well over $100 premium at like $2,215.
 
Last edited:
Zed said:
Hey guy's, I'm taking a break. It's all gotten a bit stale so I guess I will see you in a few months!
Click to expand...
Stale ? We will all have to encourage Z to take a break more often. Nice move ( Breakout from most recent lows )over the last few days hopefully can hold these gains.
 
Last edited:
Voodoo said:
Man Nat Gas and energy is just getting sold and crushed again. Like there are no people left who want to stay warm or move around.

Also, it seems like the premiums in silver have held steady the last few weeks with the small decline or even come in a bit. But, has anyone else noticed the premiums on Gold? Looks like they have expanded here recently. Even a gold Buffalo at two major sites are well over $100 premium at like $2,215.
Click to expand...
Hold your dry powder, Voodoo. Wait until oil goes -$40 bbl again and the back up the truck.
The FOMO is killing me but I’m gonna think like a Rothschild; don’t buy until there’s blood in the streets.
 
pmbug said:
Fed announcement due today...



www.forbes.com

PacWest Stock Falls 39% After Federal Reserve’s Latest Interest Rate Hike

PacWest stock plunged 28% after Jamie Dimon issued a vote of confidence in the banking system. Be skeptical.
www.forbes.com www.forbes.com
Click to expand...

www.thegatewaypundit.com

Federal Reserve Raises Interest Rates 25 Basis Points Amid Banking Crisis | The Gateway Pundit | by Cristina Laila

The Federal Reserve on Wednesday raised interest rates another 25 basis points – or 0.25% – amid the banking crisis.
www.thegatewaypundit.com www.thegatewaypundit.com
 
Voodoo said:
Man Nat Gas and energy is just getting sold and crushed again. Like there are no people left who want to stay warm or move around.

Also, it seems like the premiums in silver have held steady the last few weeks with the small decline or even come in a bit. But, has anyone else noticed the premiums on Gold? Looks like they have expanded here recently. Even a gold Buffalo at two major sites are well over $100 premium at like $2,215.
Click to expand...
A dealer posted on Twitter that Buffalos were delayed now
 
Well Gold and Silver were trying to bust above to new highs again and they are using the Jobs report to give em a smack down. Let's see if we can get another V recovery today.
 
Voodoo said:
Well Gold and Silver were trying to bust above to new highs again and they are using the Jobs report to give em a smack down. Let's see if we can get another V recovery today.
Click to expand...
IDK... lookin' like the bad boys mean business today. We c...
 
I'm watching the stocks of troubled regionals bounce today and shaking my head. Who do they think they are fooling?
 
pmbug said:
I'm watching the stocks of troubled regionals bounce today and shaking my head. Who do they think they are fooling?
Click to expand...

Pretty typical, we had a couple strong down days and now getting a relief rally. Lots of people were worried about Apple (because its scary how much of the market they are). Great day to pick up new short positions.
 
Carrion Crow said:
Good time to buy something like this?
ProShares UltraShort S&P500 (SDS)
finance.yahoo.com

ProShares UltraShort S&P500 (SDS) Stock Price, News, Quote & History - Yahoo Finance

Find the latest ProShares UltraShort S&P500 (SDS) stock quote, history, news and other vital information to help you with your stock trading and investing.
finance.yahoo.com finance.yahoo.com
Click to expand...

Not really unless you want to hedge part of your portfolio or something. It's just too hard to make money on those unless you are used to trading.
 
Wheat and Natural Gas. Maybe long term holds. Small positions just to have some skin in the game. Boredom is beginning to set in.


yOwiV8TM.pngkLZpqWaz.png
 
Goldhedge said:
Hmmmmm
...
Click to expand...
...
The Oracle of Omaha believes short sellers tend to sniff out wrong-doing and shady behaviour.

“There’s nothing evil, per se, about — in my view — about selling things short,” Buffett said. “Short sellers — the situations in which there have been huge short interests very often — very often have been later revealed to be frauds or semi-frauds,” he added.
...
Click to expand...

www.cnbc.com

Experts — including Warren Buffett — say short selling can be beneficial for markets

Many respected investors believe short selling plays an important role in public markets, improving price discovery and rational capital allocation, preventing financial bubbles and finding fraud.
www.cnbc.com www.cnbc.com
 
Voodoo said:
... I was shocked by how many had a nearly useless number of shares, ie <10. Why go through the process?
Click to expand...
Maybe they will get a rare penny with numismatic value. :paperbag:
 
pmbug said:
Maybe they will get a rare penny with numismatic value. :paperbag:
Click to expand...

The important part here is that A.) Cede & Co OWNS nearly everything and B) they have been playing fast and loose with the shares. There were only like 420 million shares in total, yet they claimed ownership of over 750 million shares..
 
pmbug said:
Is Glenn Beck carrying water for TPTB now?

markets.businessinsider.com

Banks ask SEC to stop short-seller attacks on their stocks driven by social-media speculation

The American Bankers Association said social-media speculation about the health of banks was disconnected from their financial reality.
markets.businessinsider.com markets.businessinsider.com

Banks don't seem to have any problems with their trading desks short selling - especially gold/silver.
Click to expand...

You need to separate the small and medium sized banks from the large Banksters. A short selling ban does little as we've seen in the past and can actually accelerate down markets. We do, however, need a massive cleanup in the system like everything else.
 
Lancers32 said:
Some clown wants 200 million per for reparations in Kali. Scotty?
Click to expand...
Hell yea. That should really help the Ca economy. They are also going to corner the market on illegal and blacks. Should remain a blue state for a very long time unless the blacks are smart enough to go out there, get their check and leave.
 
Lancers32 said:
If you believe in triple tops.


View attachment 8497
Click to expand...

It's been knocking on this door for some time. However, if you want to include the 2011 Top (slightly lower) this would be the fourth attempt to break the highs. Plus a really nice cup and handle formation with an extra fake-out. I think this system ends soon and PM's start their moon shot.

Is that enough hopium for today? Probably too much but we will see.
 
GC 3 minute chart - a weak handed short got liquidated. AKA short squeeze. Most of the up volume came in 3-5 minutes. Interestingly it drifted back to the base, it wasn't sold hard. On Balance Volume turned positive @ ~ 2030.

GC1!_2023-05-11_09-29-35.png
 
Last edited:
You must log in or register to reply here.
Back
Top Bottom