859 replies to this topic

[ryanoo]

Bought back some partial positions in gold and miners.  Silver not so sure as there is a clear neg div on the daily and not yet oversold.  Will see how it goes next week and decide on the rest.  

[dougie]

weekly highs appear to be in BWTFDIK

[ryanoo]

I would not be surprised if stocks topped this morning into what I think is a somewhat BS employment number, we see

 

Senor

 

Senor, the jobs report was garbage:

"When the U.S. government's official jobs report for May came out on Friday, it included a note at the bottom saying there had been a major "error" and the unemployment rate likely should be higher than the widely report 13.3 percent rate.

The special note said that if this misclassification error had not occurred, the "overall unemployment rate would have been about 3 percentage points higher than reported," meaning the unemployment rate would be about 16.3 percent for May.

The Bureau of Labor Statistics, the agency that puts out the monthly jobs reports, said it was working to fix the problem."

https://www.stamford...or-15320999.php

 

And some people are rushing to kill themselves with bleach before Covid-19 does it.

"Americans are gargling with bleach and drinking household cleaners to prevent coronavirus: CDC report"

Edited by ryanoo, 06 June 2020 - 12:00 PM.

[senorBS]

 

I would not be surprised if stocks topped this morning into what I think is a somewhat BS employment number, we see

 

Senor

 

Senor, the jobs report was garbage:

"When the U.S. government's official jobs report for May came out on Friday, it included a note at the bottom saying there had been a major "error" and the unemployment rate likely should be higher than the widely report 13.3 percent rate.

The special note said that if this misclassification error had not occurred, the "overall unemployment rate would have been about 3 percentage points higher than reported," meaning the unemployment rate would be about 16.3 percent for May.

The Bureau of Labor Statistics, the agency that puts out the monthly jobs reports, said it was working to fix the problem."

https://www.stamford...or-15320999.php

 

And some people are rushing to kill themselves with bleach before Covid-19 does it.

"Americans are gargling with bleach and drinking household cleaners to prevent coronavirus: CDC report"

 

LOL no surprise - perhaps that "note" should have been at the beginning of the report? LOL again. Still looks blow-offish to me in the general mkt and perhaps the miners ended abc X abc declines in most cases from the 5/20 high. Many of the miner/gold ratio charts came right down to moving avg support intraday Friday and rallied pretty decently into the close. The HUI/Gold ratio had an outside day with an up close and sure looks like a possible corrective low could have been registered Friday, lets not forget GDX so far successfully retested the 31-32 breakout area as well then had over a full point rally off the intraday low.  All this makes Monday a huge day IMO.

 

 

Senor

Edited by senorBS, 06 June 2020 - 05:24 PM.

[K Wave]

seeing signs of bottoming action on hourly charts  in the miners and  gold .  lets see if there is alot more work to do? or are we close here? or does

it get more complex?

in your camp senor.    love the contrary indicators 

dharma

Very good chance you are right...jumped back  in the PL at next support level of 820 on PL at hourly 900...

 

Once again, got lucky and improved my entry point on PL by over $50 the last few days, after I spotted the serious weakness issues in the short term chart a few days back.

 

If 820 goes bye bye, then I start to seriously question things, but in the meantime, looking for the bull to reclaim that hourly 200 soon and light up the Saturn Vs....

 

Once we get above that hourly 200 again, and it turns up, then bull would likely be in full control of intermediate to longer term...

 

Huge longer term time frame pivots at 880-900 now....

 

[K Wave]

SI sill acting stronger than PL, as it thus far has held the 30 min 900...

 

Sill all about clearing $18 for good to get ready for the moon shot....

 

[K Wave]

Also still got my eye on BTC....looks like possibly big very decision about to be made...

 

If it breaks above 10K again, could be about to launch another huge leg up.

 

Has the Shake It before you Bake It look to it on daily.

 

 

 

But if hourly starts breaking down, could be sign it aint gonna happen.

The big tower formation top is potentially problematic. But if that gets taken out, could see explosive upside action....

 

 

 

 

[gannman]

to me we might have one more small leg down in hui dont know

 

i will be buying this week we are heading up i am thinking a target of 310 in

 

the hui over the next two weeks or about 20 %

[dougie]

sentiment is actuallly supportive here

[K Wave]

PL at first test spot now....1 min 900

 

If it can punch through 1, 3, 5 min 900s overnight, it just might be back on its way after the hourly 900 backtest....

 

Failure here a 840, and then taking out 820 would be NO BUENO

 

BTC looks like its shake and bake setup on 15 min time frame is still proceeding nicely...back above 9800 one more time, and could be off to the races....