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Froddy

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1,072
Both cryptos and Tesla look interesting!

Nothing really stands out on the BTC/USD chart, other than it's looking very extended, so be careful. Ethereum has a better chart structure for entry, IMO.

As regards Tesla, price is trapped within a narrowing range on the weekly chart - expect action soon (either up or down).

This week is monthly options expiration, so expect the usual price-fixing shenanigans!

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Froddy

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1,072
If anybody here is trading Tesla, be aware of this broadening formation on the 30 minute chart - it's approaching short-term exhaustion risk ...

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Wattie

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8,640
Seems everything is overhyped at the mo due to “vaccine” frenzy......and even that promise is beginning to fade.
No vaccine is gonna cure the ills of the global debt/economic situation. Financial conditions were appalling before covid, they’re now dire and deteriorating.
Injecting millions and millions with a vaccine isn’t gonna remove that scenario, if indeed people accept it and it’ll take years for a start. God knows what mutation of the virus we'll be on by then.
The global economy is not going to be remedied by a vaccine. It will be papered over with ever increasing amounts of money by politicians and bankers who pretend everything is ok.
The debt will go boom at some point.
 

Wattie

Member
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8,640
Quite a week for Crypto’s as global -ve yielding debt hits a record high and the promise of more stimulus anytime soon evaporates! (in fact -https://www.nytimes.com/live/2020/11/20/business/us-economy-coronavirus)

Record inflows to Crypto (momentum trade) and outflows from Gold ( lower buying opportunities coming).

This is going to liven things up at year end, especially if Trump hasn’t started packing up!


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Froddy

Member
Messages
1,072
Quite a week for Crypto’s as global -ve yielding debt hits a record high and the promise of more stimulus anytime soon evaporates! (in fact -https://www.nytimes.com/live/2020/11/20/business/us-economy-coronavirus)

Record inflows to Crypto (momentum trade) and outflows from Gold ( lower buying opportunities coming).

This is going to liven things up at year end, especially if Trump hasn’t started packing up!
Yes, I think we may see stocks pick up downside momentum from here, now that the monthly options expiration is out the way and there is literally no hope of any stimulus deal. Big Money won't be worried about fixing price like they did last week. The only caveat is that money appears to be flowing back into the covid stocks (tech), and that might artificially inflate the indices due to their disproportionate weighting. So the indices may not represent what is actually going on with the smaller stocks.

The S&P formed an inside candle on the weekly chart; this represents indecision, and a break above or below last week's candle should set the tone going forwards.

The same is true of gold and silver (spot) and the US$ index (DXY).

Next week could be interesting!
 

Wattie

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8,640
I’m in a lot of cash just now (Pension) and recently realised Tax free cash.
If metals fall I’ll be backing up the truck and adding more physical as well as some share positions.

I think this is gonna get very tasty in the next few weeks.
Golds taken a battering recently which is presenting a nice buying opportunity at lower levels.
No vaccine is going to repay all this debt, nor bring back bankrupt businesses and jobs.
 

Froddy

Member
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1,072
Golds taken a battering recently which is presenting a nice buying opportunity at lower levels.
No vaccine is going to repay all this debt, nor bring back bankrupt businesses and jobs.
Yes, I'm not sure what's going to happen to gold in the short-term; my long-term outlook remains bullish.

In the short-term, opinion is divided amongst traders who I respect and follow.

John Carter (my trading hero) is short-term bullish and is waiting for a small further drop before going long:
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Henrik Zeberg (economist/technical trader), on the other hand, is predicting an imminent deflationary bust with gold dropping to $800!
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I'm still holding my short position in gold, and will do so until the trade stops working.

As for the S&P, we are at the very top of the broadening formation on the monthly chart (danger danger!):

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For now, I'm holding my long positions but nearly every position is covered, and I have a longer-term hedge in place too (which saved my bacon in February!)
 

Delmonte

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Messages
878
Well my gold & silver stocks are all shocking at the moment, but I just topped up this one which I think is a great entry, SHG (Shanta gold) at 13.5. Tanzanian gold producer & explorer. In profit first half of year. Was at 20, three weeks ago and recently placed at 16.25. Price rises steadily every time they post drilling results, more to come yet on the exploration side, and expect profitable year end results too
 

Wattie

Member
Messages
8,640
Well my gold & silver stocks are all shocking at the moment, but I just topped up this one which I think is a great entry, SHG (Shanta gold) at 13.5. Tanzanian gold producer & explorer. In profit first half of year. Was at 20, three weeks ago and recently placed at 16.25. Price rises steadily every time they post drilling results, more to come yet on the exploration side, and expect profitable year end results too
When you take a position with gold/silver/miners etc what you are effectively betting against are the powers that be.
They can paint a picture that everything is fine a dandy and that the vaccine will return us all to normal.
In actual fact, the debt is exploding higher, millions of jobs aren’t coming back, thousands of businesses are failing, trillions in loans and rents will default and there's no proof the touted vaccines will return us to normal or indeed that they will be effective (indeed they’re gonna take years to roll out).

Their global economy is totally reliant on ever increasing debt and money from thin air to maintain their illusion- none of which any of them have any interest in ever repaying on their watch

Fundamentals always win and the more they inflate the bubbles, the larger they will one day burst.
Skyrocketing fake stock markets do not represent underlying economic Main Street conditions -just the benefit Wall Street has gained from all the newly created money (which like an addict it is now dependent on) .
Meanwhile the average man on the street is fecked.
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Froddy

Member
Messages
1,072
Watch gold today, chaps. I'm seeing a POTENTIAL reversal/bounce if today's price closes higher than yesterday's. Yesterday was an "inside day" which represents indecision. If the indecision is resolved to the upside, there may be follow-through for a few days.

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Wattie

Member
Messages
8,640
Watch gold today, chaps. I'm seeing a POTENTIAL reversal/bounce if today's price closes higher than yesterday's. Yesterday was an "inside day" which represents indecision. If the indecision is resolved to the upside, there may be follow-through for a few days.

View attachment 78190
Less fuckery will be going on today as the US is closed for Thanksgiving.
 

Froddy

Member
Messages
1,072
Adobe (ADBE) has caught my eye.

It's successfully tested long-term trendline support (going back to March low), it rose above Tuesday's "inside candle" day (thereby resolving indecision), it's in a volatility squeeze after two weeks of consolidation, and it has upcoming earnings to rally into.

I think I'll have a punt, with stop loss being one cent below the low of Tuesdays inside candle ($456.67); profit target one will be $499; profit target two will be $519 (being the preceding two swing highs).

Fingers crossed!

Daily chart below:

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ChrisQP09

Member
Messages
2,994
I have cash in Carnival, IAG and KCAC which is now QuantumScape.

My IAG and Carnival stocks have improved about 10% in the last week and I know these will go to 20+ once a vaccine is released. I invested in KCAC a few days ago only about 480gbp and cashed out today with 800gbp profit. This battery stock is based on solid state tech and I have a bit of inside as my other half's brother is a major decision maker in this Silicon Valley firm QuantumScape.
 

Froddy

Member
Messages
1,072
I have cash in Carnival, IAG and KCAC which is now QuantumScape.

My IAG and Carnival stocks have improved about 10% in the last week and I know these will go to 20+ once a vaccine is released. I invested in KCAC a few days ago only about 480gbp and cashed out today with 800gbp profit. This battery stock is based on solid state tech and I have a bit of inside as my other half's brother is a major decision maker in this Silicon Valley firm QuantumScape.
They all look fantastic, Chris! Congrats ...
 

Froddy

Member
Messages
1,072
Currently up 126% with Aston Martin. and up 41% with TESLA. Does the Establishment really have it this easy?......
They’re both doing well, too!

I've enjoyed a bit of TSLA this past week - this is my second position following a re-entry on Wednesday (I’d exited on the recall news).

I'm loving Square(!):

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