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Another nice day. More to come..
Squeeeeeeeeeeezze!!
Yep, weekly now responding to recent daily performance.
Note the ADX starting to show sign of bear-trend weakness on this guy's chart, Slow-STO curling up.
http://ow.ly/i/2GuG9
Everytime I see someone post a chart supporting continued bearishness, I see them missing the point on some crucial technical signals. Don't underestimate divergence across multiple indicators. Just sayin... prepare for contradictions.
Even so, you'd still have losers. Just sayin..
Nice, love it when that happens - kinda sad though but oh well, like you say: "future growth of the new technology." We vote those kinds of things into our lives. Standing against innovation as it becomes more popular is foolhardy really.
I doubt shorts can bring TSLA down alone anymore, not after its mark thus far. But can the index and the rest of the market drag it down some maybe?
1300 is nothing compared to what can ensue if we continue to proceed out through "the roof exit".
I could always be wrong - as can be any expression of theory, but reward outweighs the risk here.. especially if you're still holding from two planted feet. So please do regard at your own discretion for I am not a qualified adviser and do not suggest anyone base their trades on anything other than their own due diligence.
BUT.. IF it so happens as the theory suggests, then many shorts will be heading up the stairway en masse. And when the stairs collapse, a great many more will be trapped below. But how bullish of me to make such a silly analogy, I am opportunistic based on the opinion that this may quite possibly be an excellent contrarian buy signal. Mass psychology afterall is more primitive than individual logic.
Musings aside, I do fully accept the risk of being wrong here and am not ashamed to be so. Thanks and good luck to you all.
https://www.tradingview.com/x/hz4R2yiC/
https://www.tradingview.com/x/zZld6UED/
I dunno.. I think contrarily that not only is there a lot of headroom commodities-wise, but now that there are so many short the risk/reward profile for a trend-break are larger than would be so. Just an opinion not a prediction. We're towin the lines here. Even bought some DUST for invalidation of theory. GLTYA.
I'm sure many have already seen this today but I just wanted to place here for those who have not.
"We believe that the central planners have engineered the recent gold drawdown in the following way:
-Brokers recommend their clients to sell gold,
-The same brokers cover their short positions on the COMEX,
-While the GLD and the COMEX inventories suffer large redemptions/deliveries,
-Taper talk crashes the gold price,
-And India cooperates with other central planners to decrease physical demand.
Result:
-Record speculator (i.e. hedge funds) short positions,
-The GOFO rate goes negative,
-Futures markets go into backwardation,
-Physical inventories stand at record lows,
- And a recant on taper.
Conclusion:
This was all orchestrated to increase supply and tame demand. We believe that central planners are now running out of options to suppress the gold price. After taking a pause, the secular gold bull market is set to continue."
-Sprott Global Resource Investments
http://etfdailynews.com/2013/07/18/do-western-central-banks-have-any-gold-left-part-iii/
I hate to treat like a trade but yesterday/today was some serious scalp thanks to pent up demand laggards - but I think the upward momentum is expended, I think those exiting with profits have some lower numbers in mind for reaccumulation.
https://www.tradingview.com/x/gLODPJ9L/
Then again, TSLA's a beast - always something up its sleeves. Gotta love it.
Also try going on a nice roadtrip nowadays without forking up so much in gas. Now imagine a minivan - this will spur on a new culture, unlimited roadtrips for FREE!
I dunno. Plenty of mixed signals - but perhaps this undertow persists.
Divergence remains compelling to me.
May the week rule the day, the day rule the hour, and the hour rule the moment. But trust not in pursuit, prepare for contradictions.
https://www.tradingview.com/x/7SMIyEMU/
https://www.tradingview.com/x/XgXB3YAB/
https://www.tradingview.com/x/YSNOJMpO/
https://www.tradingview.com/x/JTEuOOQ4/
https://www.tradingview.com/x/EglXB0JZ/
Hmm, I think it would've hit worse this whole season were it not for inflows keeping the worst at bay - even at its worstest.. today included.
A collage posted on stocktwits, nothing new but the correlations are profound seen side-by-side.
http://stocktwits.com/message/14618164
That's a 30% drop, making NUGT roughly 7.80ish.
Perhaps pent up from weeks of pussyfootin around.. dunno, but I do genuinely wonder what insider consensus is in anticipation for what's ahead.
Interesting reads at both ends of the spectrum:
http://finance.yahoo.com/news/history-shows-gold-could-fall-123653573.html
http://www.elliottwavemarketservice.com/2013/07/golds-qe3-anomaly-2/
It has been an excellent run and that is an understatement. Alas, this divergence prompts me to lock in at this altitude for now, never parting with all of course, but a pullback is all too possible up here. Not saying it will happen, but I sure as heck will reaccumulate if it does - an excellent workhorse. Not like they've never been underestimated before, they've blown past everyone's expectations - hence the "never parting with all". I actually wouldn't be surprised anymore if it didn't pullback, TSLA pwns!!
I agree, valid concern. Imo this current "weather change" could just be gettin started in that the arcing appears for the moment to be more skyward - afterall there are plenty of shorts to squeeze and confinements to break through yet and the momentum catalyst is still fresh!! ..but if earnings causes any big pullback, and if despite this gold continues bullish, then perhaps it would present another good entry since those metrics "from prior weather systems" can be easily succeeded onward.. if bullish gold persists. QE continues for now, and this may factor into creation of a higher low. But i dunno any more than you as to what will happen, i'm awaiting substantial reversal confirmation of gold, NUGT/DUST is for your banking of the volatility either way.
Yep, ouch 1/4 of sp gone. Good opportunity to accumulate at lower entries though if the charts indicate any kind of play down the line..
It'll be one helluva squeeze if this continues, I think insider inflows and actual demand contributed to divergence during selloff, it may perhaps have its way depending on world reaction, to every seller there's a buyer yet, and some things around here went on fire sale. Cannot underestimate anything of course, broke into the 1280's so far..
Dunno... it'd be one helluva squeeze. I think insider inflows and actual demand contributed to divergence despite selloff, and it may perhaps have its way depending on world reaction. To every seller there's a buyer yet, and some things around here went on fire sale. But I do not underestimate anything of course, that's what stops are for and I'm glad mine did not trigger, something this volatile requires a stop loose enough to accomodate signal confirmation of sorts. Hedge the inverse for signal invalidation. Simple.
Something interesting:
www.stocktwits.com/message/14525046
(insider indicator)
XAUUSD just now toed 1270.
Gold futures toeing 1260, USD gettin hit...
SELL!! SELL!! SELL!! HOUSE OF PAIN!! lol... jk, kinda.
This all swings on dollars/currencies to gold. Dollars replicate, but gold does not. I bet there are many replicant dollars reserved for gold [and associated PMs] at lower buys. Or maybe not - just suspicious, central banks supposedly loading up, China supposedly loading up - the consensus here hates it, loves the dollar... dollar can only be so valuable, all the replicants are hoarded away til interest rates provide enough incentive for lending out the FRESHLY REPLICATED $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ for more debt. MORE DEBT. MORREEEE DEEEEBT.
So chart the world's behavior.
https://www.tradingview.com/e/?symbol=XAUUSD#
Quite a bit of buying pressure in the last 10 minutes, 5% rebound. Not saying what this will do but divergence appears intact w/ MACD crossing and the slope punctuated by a dragonfly on the daily. Awaiting formation of right shoulder.
"It's extremely rare to see an entire sector this oversold."
"Crazy oversold."
http://stocktwits.com/message/14453302
Veryy nice indeed.. dwre you kick a$$.
Ditto. =D
Also I dunno if it's just me but I sense some tail-end trend anxiety in bear articles/statements. In cases like this I start to consider a "buy in fear, sell in faith" motto, but yes - a lower long entry would be tasty.
Even if it took another leg I think it's gonna be weaker yet, bear songs are starting to sound like broken records and reversal is inevitably within season's reach - the risk/reward profile has flipped IMO. Very long-term bullish on metals beyond gold, mining costs have inflated across the board and this temporary persecution of value has set up great long opportunities for industrialized PM's and rare-earths.
IF: physical buying increases over the weekend due to sentiment reversal..
THIS: will continue.
Just sayin, careful what you part with if restrospectively it ends up that you were holding a bottom of sorts..
It may appear to be that the last big rally could have sufficiently broken the bears' backs or at least weakened them as shown by the shallower macd during the last lower dive. "Appear" is keyword here, as we all know how my last call went.. the way of the baskerville. Just relaying observation, you are welcome to dispute - thanks and good skill to you.
MACD divergence on weekly AND daily, massive volume... is it just me or is this the first time RSI dove this low on GLD weekly chart since 2000??
Prolly just someone freein up for metals bounce, I dunno.. but this one screams accumulate to me so anything below .25 is hard to pass up imo.
Sure, if you like to call the growing armadda of algo bots "human" - given that they are designed to bank on said human behavior. My theory is that algo bots are what provide the utility to tangibly affect markets in whatever way desired, injecting volatility where it is "needed". If it were the case, then it would appear that paper (digital) assets and algo bots would go hand-in-hand for whatever "purpose".
I see MACD divergence at that last low, is this bear's back sufficiently broken? ..looks like bottom may perhaps be in - just an opinion of course.