<It has it all going for it. A double top and H&S. The double top has already been proven. Will it hold $10 and validate the H&S>
yep $10 is the demarcation and proverbial line in the sand. It's at $10.00 as I type this. Not a lot of support between $10 and $7..............Even $7 support is questionable. $5 would not shock me. JMHO. MJ
Walker Proof Digital Album Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Walker Proof Digital Album Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
<< <i>Another deflationary market collapse appears eminent/ underway. Metals will likely be dragged down with it again. >>
A long gold/short silver pairs play could prove fruitful on a risk reward proforma if you believe this. This way you won't get killed if you are wrong. I'm in this trade. MJ
Walker Proof Digital Album Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Another deflationary market collapse appears eminent/ underway. Metals will likely be dragged down with it again.
There have been numerous such calls from any number of analysts since summer/fall 2008 and each one has turned out to be little more than scare tactics. I don't think this one will be any different. Yes, the stock market has been correcting and taken a number of commodities with it. But that alone is not a warning of a collapse considering the large gains stocks and numerous commodities made from late 2008/early 2009.
Very little was left unsmothered today other than bonds and the dollar. Was this maneuvering at the end of the 2nd qtr? I did note that Newmont Mining and Eldorado Gold both made new all time highs yesterday. They are the early leaders in the gold stocks. EGO just gave off a shooting star formation so yesterday may have been the peak for mining stocks in this short term cycle. But the fact that a lumbering giant like Newmont made a new all time high was important. Producer gold stocks are not as lifeless as they appear on the surface. One more day left in June. Right now the 12 month trend of rising gold prices on the 1st day of the month is in jeopardy.
<< <i><It has it all going for it. A double top and H&S. The double top has already been proven. Will it hold $10 and validate the H&S>
yep $10 is the demarcation and proverbial line in the sand. It's at $10.00 as I type this. Not a lot of support between $10 and $7..............Even $7 support is questionable. $5 would not shock me. JMHO. MJ >>
Walker Proof Digital Album Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Why couldn't it eventually fall back to 7-8 and retest that much larger inverted weekly neckline formation ....then turn around and head back up? This is of course merely discourse as I doubt I'll ever buy into any major auto firm.
RR, it could but that's still 20-25% lower from here. MJ
Walker Proof Digital Album Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
<< <i>Why couldn't it eventually fall back to 7-8 and retest that much larger inverted weekly neckline formation ....then turn around and head back up? This is of course merely discourse as I doubt I'll ever buy into any major auto firm.
roadrunner >>
The H&S pattern projects to 7.50. Also decent price support at 7. And a 50% retrace could be draw at 7.75. If it were to get to this level quickly, then it would make a great tradable buy. Otherwise I see no reason to own it.
Edited to add, I love it when a plan comes together>
Isn't copper at $2.92? Long ways to $2.00..............Dave, I'm curious where you entered your short as I'm trying to figure out your point of entry on this trade. There is somethink hinky about copper right now. Can't quite put my finger on it. Thanks.
MJ
Walker Proof Digital Album Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Edited to add, I love it when a plan comes together>
Isn't copper at $2.92? Long ways to $2.00..............Dave, I'm curious where you entered your short as I'm trying to figure out your point of entry on this trade. There is somethink hinky about copper right now. Can't quite put my finger on it. Thanks.
MJ >>
I've been playing to the downside since 3.50. In and out. Most recently bot puts on JCC at 41.35. Puts are up 40% in last 2 days. Also trading it through a leveraged inverse base metals ETF.
Whats hinky with copper is that it is $3. Historically this is a stupid high price relative to the US dollar. There is excess inventory and weakening demand. Dont believe everything you read about China.
<Whats hinky with copper is that it is $3.H istorically this is a stupid high price relative to the US dollar.>
I agree and that's why it's hinky. It's held up rather well all things considered. That's for the info on the vechicles you were using. Thta's how I've played them in the past.
<There is excess inventory and weakening demand. Dont believe everything you read about China>
Here's the difference. I live in china 18 weeks a year. I'm in China now. I don't need to read about it. I experience it first hand
edited to add- There is no doubt that China's export market is well off its peak levels. Taiwan is the largest source of this "deficit". China's largest market remains the EU and that obviously is going to take a nice hit. Add the US (China's single biggest partner) fragile market to the mix and it is troublesome to the export market.
China's infrastructure play is still in high gear and it is truly unbelieveable. Unfortunately this is one area where the US and the EU for that matter are getting left in the dust. State of the art cities, bridges, roads etc
MJ
Walker Proof Digital Album Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
<< <i><Whats hinky with copper is that it is $3.H istorically this is a stupid high price relative to the US dollar.>
I agree and that's why it's hinky. It's held up rather well all things considered. That's for the info on the vechicles you were using. Thta's how I've played them in the past.
<There is excess inventory and weakening demand. Dont believe everything you read about China>
Here's the difference. I live in china 18 weeks a year. I'm in China now. I don't need to read about it. I experience it first hand
Comments
yep $10 is the demarcation and proverbial line in the sand. It's at $10.00 as I type this. Not a lot of support between $10 and $7..............Even $7 support is questionable. $5 would not shock me. JMHO. MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Metals will likely be dragged down with it again.
<< <i>Another deflationary market collapse appears eminent/ underway.
Metals will likely be dragged down with it again. >>
A long gold/short silver pairs play could prove fruitful on a risk reward proforma if you believe this. This way you won't get killed if you are wrong. I'm in this trade. MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Metals will likely be dragged down with it again.
There have been numerous such calls from any number of analysts since summer/fall 2008 and each one has turned out to be little more than scare tactics. I don't think this one will be any different. Yes, the stock market has been correcting and taken a number of commodities with it. But that alone is not a warning of a collapse considering the large gains stocks and numerous commodities made from late 2008/early 2009.
Very little was left unsmothered today other than bonds and the dollar. Was this maneuvering at the end of the 2nd qtr? I did note that Newmont Mining and Eldorado Gold both made new all time highs yesterday. They are the early leaders in the gold stocks. EGO just gave off a shooting star formation so yesterday may have been the peak for mining stocks in this short term cycle. But the fact that a lumbering giant like Newmont made a new all time high was important. Producer gold stocks are not as lifeless as they appear on the surface. One more day left in June. Right now the 12 month trend of rising gold prices on the 1st day of the month is in jeopardy.
roadrunner
<< <i><It has it all going for it. A double top and H&S. The double top has already been proven. Will it hold $10 and validate the H&S>
yep $10 is the demarcation and proverbial line in the sand. It's at $10.00 as I type this. Not a lot of support between $10 and $7..............Even $7 support is questionable. $5 would not shock me. JMHO. MJ >>
There was no way this was going to hold. MJ
Ford 3 month daily
Ford three year weekly
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
roadrunner
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
<< <i>Another deflationary market collapse appears eminent/ underway.
Metals will likely be dragged down with it again. >>
Just short the snot out of copper.
Edited to add, I love it when a plan comes together.
Knowledge is the enemy of fear
<< <i>Why couldn't it eventually fall back to 7-8 and retest that much larger inverted weekly neckline formation ....then turn around and head back up? This is of course merely discourse as I doubt I'll ever buy into any major auto firm.
roadrunner >>
The H&S pattern projects to 7.50. Also decent price support at 7. And a 50% retrace could be draw at 7.75. If it were to get to this level quickly, then it would make a great tradable buy. Otherwise I see no reason to own it.
Knowledge is the enemy of fear
Edited to add, I love it when a plan comes together>
Isn't copper at $2.92? Long ways to $2.00
MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
<< <i><Just short the snot out of copper.
Edited to add, I love it when a plan comes together>
Isn't copper at $2.92? Long ways to $2.00
MJ >>
I've been playing to the downside since 3.50. In and out. Most recently bot puts on JCC at 41.35. Puts are up 40% in last 2 days. Also trading it through a leveraged inverse base metals ETF.
Whats hinky with copper is that it is $3. Historically this is a stupid high price relative to the US dollar. There is excess inventory and weakening demand. Dont believe everything you read about China.
Knowledge is the enemy of fear
why?
Groucho Marx
A new thread has been started for July.
How would the Double Dip affect PM prices?
I agree and that's why it's hinky. It's held up rather well all things considered. That's for the info on the vechicles you were using. Thta's how I've played them in the past.
<There is excess inventory and weakening demand. Dont believe everything you read about China>
Here's the difference. I live in china 18 weeks a year. I'm in China now. I don't need to read about it. I experience it first hand
edited to add- There is no doubt that China's export market is well off its peak levels. Taiwan is the largest source of this "deficit". China's largest market remains the EU and that obviously is going to take a nice hit. Add the US (China's single biggest partner) fragile market to the mix and it is troublesome to the export market.
China's infrastructure play is still in high gear and it is truly unbelieveable. Unfortunately this is one area where the US and the EU for that matter are getting left in the dust. State of the art cities, bridges, roads etc
MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
<< <i><Whats hinky with copper is that it is $3.H istorically this is a stupid high price relative to the US dollar.>
I agree and that's why it's hinky. It's held up rather well all things considered. That's for the info on the vechicles you were using. Thta's how I've played them in the past.
<There is excess inventory and weakening demand. Dont believe everything you read about China>
Here's the difference. I live in china 18 weeks a year. I'm in China now. I don't need to read about it. I experience it first hand
MJ >>
Question sent via PM
Knowledge is the enemy of fear