1426 replies to this topic

[dougie]

57.61 down to 36.30 is 21.31

am i missing something here: sorry to be so dense

[CHAx]

Looks like we put in some type of bottom here.  I won't say THE bottom for sure, but something happened in the Asian session when we made new lows in /GC plus a mini flash crash in /SI that seems to have washed out the longs.   Should be trade-able from the long side for at least 24-48 hours IMO.

[CHAx]

Looks like we put in some type of bottom here.  I won't say THE bottom for sure, but something happened in the Asian session when we made new lows in /GC plus a mini flash crash in /SI that seems to have washed out the longs.   Should be trade-able from the long side for at least 24-48 hours IMO.

 

Pretty gross the way they couldnt take out 1773 /GC.  Out with a small profit.  Not at all the price action I was looking for in /GC during the European session.  US action has been very weak as well... so just going to be cautious.

[senorBS]

I am thinking the potential FINAL INGREDIENT of a key bottom here has been seen overnight as gold overnight FINALLY took out (1760 low) the Nov low at 1764 - daily RSI divergence vs that low at very oversold levels. I am loaded for bull, lets see if this pig can fly!

 

Senor

[CHAx]

 

Looks like we put in some type of bottom here.  I won't say THE bottom for sure, but something happened in the Asian session when we made new lows in /GC plus a mini flash crash in /SI that seems to have washed out the longs.   Should be trade-able from the long side for at least 24-48 hours IMO.

 

Pretty gross the way they couldnt take out 1773 /GC.  Out with a small profit.  Not at all the price action I was looking for in /GC during the European session.  US action has been very weak as well... so just going to be cautious.

 

 

/SI acing great.  If we can get above the ~28.10, we may have begun the next run.  Otherwise, more trading range to be expected.

 

 

Im OK with missing the GC run, even after calling it.  Had to manage my risk, position was too large with /GC and /SI, so I just stuck with the leader and dumped the weaker sister.

Edited by CHAx, 19 February 2021 - 09:03 AM.

[CHAx]

I am thinking the potential FINAL INGREDIENT of a key bottom here has been seen overnight as gold overnight FINALLY took out (1760 low) the Nov low at 1764 - daily RSI divergence vs that low at very oversold levels. I am loaded for bull, lets see if this pig can fly!

 

Senor

 

Congrats and I hope you are right about this being the IT low.    And we need the cash open to be sticky price-wise for that to happen==>  Seems likely, gap should trap some of the GLD shorts.

[CHAx]

It blows my mind, Barrick (ticker GOLD) trading DOWN, on /HG ripping to four dollars AND gold showing bottoming action.  Pessimism is HIGH!

[CHAx]

Another really interesting note today.  Being an options expiration,  I imagine the options dealers had something to do with that takedown on SI last night.  They were hoping to drop the hammer (especially under the cover of all the gold negativity) and then today, they are furiously holding price at /SI 27.5.  Call me a conspiracy theorist!  Too bad no hedge fund thought of Gamma squeezing this afternoon.  

[senorBS]

methinks there is some serious BS goin on here in many gold miners - I keep accumulating NEM on dips near 56.50-56.70, as always DYODD

 

Senor

[senorBS]

been so busy just noticed TYX at a major new rally high at 2.125%! When does the chatter increase about "fixing" long term rates? fairly soon IMO, they simply cannot let this get away from them - Hotel CA playin in the background

 

Senor