DrStool Posted February 12, 2021 Report Share Posted February 12, 2021 Air pockets have appeared in the intraday charts. Is this the top, or a top. That higher right shoulder makes me suspicious. I can't remember the last time that pattern has broken down let alone into a sustained decline. Support is suggested at 3890 and 3868. Any move that holds above that is a nothing burger. The latest from Liquidity Trader. Primary Dealers are Already Dead 5 Mining Picks Ready To Swing as Gold Holds Proof of How QE Works – Fed to Primary Dealers, to Markets, To Money Link to comment Share on other sites More sharing options...
DrStool Posted February 12, 2021 Author Report Share Posted February 12, 2021 I mean to post that several hours ago at 3:45 AM ET, and forgot to click Submit. Here we are at 7:30 AM and indeed, the threatened breakdown area turned into support, and another rebound. Link to comment Share on other sites More sharing options...
DrStool Posted February 12, 2021 Author Report Share Posted February 12, 2021 So we now have a triangle pattern with support at 3890 and resistance at 3915, and converging toward one another through the day. There's been no hand tipping yet as to which way this will break out. Normally, I'd say up. Double top at 3928, anyone? Link to comment Share on other sites More sharing options...
DrStool Posted February 12, 2021 Author Report Share Posted February 12, 2021 Until further notice all patterns are bullish. Repeat Until further notice, all patterns are bullish. 2-3 day cycle projection 3920. Link to comment Share on other sites More sharing options...
DrStool Posted February 12, 2021 Author Report Share Posted February 12, 2021 5 day cycle projection 3942. Link to comment Share on other sites More sharing options...
Jorma Posted February 12, 2021 Report Share Posted February 12, 2021 I am almost ready to predict there will never be a lower low on index daily charts ever again. Link to comment Share on other sites More sharing options...
Jorma Posted February 12, 2021 Report Share Posted February 12, 2021 Or maybe TNX, I can't decide. Link to comment Share on other sites More sharing options...
BurntOnce Posted February 12, 2021 Report Share Posted February 12, 2021 From about $500 an ounce five years ago, the price of palladium quintupled to hit a record of $2,875 an ounce last year, and is now hovering between $2,000 and $2,500 an ounce, above the price of gold. Rhodium prices have skyrocketed more than 3,000 percent from about $640 an ounce five years ago to a record $21,900 an ounce this year, roughly 12 times the price of gold. The soaring prices may be accelerating the shift to electric cars, anal cysts said, noting that catalytic converters now make up a much larger proportion of a gasoline-powered vehicle’s cost than they did even just a year ago. https://www.nytimes.com/2021/02/09/climate/catalytic-converter-theft.html Link to comment Share on other sites More sharing options...
DrStool Posted February 12, 2021 Author Report Share Posted February 12, 2021 Tops are normally dull. This market is dull. Link to comment Share on other sites More sharing options...
DrStool Posted February 12, 2021 Author Report Share Posted February 12, 2021 3 hours ago, DrStool said: 5 day cycle projection 3942. Still on track for this or a few points higher. Link to comment Share on other sites More sharing options...
DrStool Posted February 12, 2021 Author Report Share Posted February 12, 2021 Another 3 day weekend Friday. Another short squeeze. Link to comment Share on other sites More sharing options...
potatohead Posted February 12, 2021 Report Share Posted February 12, 2021 1 hour ago, DrStool said: Tops are normally dull. This market is dull. I thought the old adage was never short a dull market? Was going to provide an update, but the metals markets have been crazy the last 2 weeks. Calming down a bit the last 2 days. Looking for premiums to begin to recede. Link to comment Share on other sites More sharing options...
DrStool Posted February 13, 2021 Author Report Share Posted February 13, 2021 That was the old adage. Today it's "Never short a stonks market." Link to comment Share on other sites More sharing options...
DrStool Posted February 13, 2021 Author Report Share Posted February 13, 2021 Primary Dealers are Dead – Part 2 – Springtime Coming for Hibernating Bears 1 - LIQUIDITY TRADER FEBRUARY 13, 2021 The Primary Dealers always hedge their fixed income portfolio positions in the futures markets. Looking only at their bond portfolio positions may not give us an accurate picture of how screwed they are, or are not. We have data for their futures hedging. It’s called the COTS- the weekly Commitment of Traders. Every Friday, the CFTC publishes the positions of various players in the futures markets. Among those reports is the dealer positions. The rest of the world focuses on the specs, mostly the big specs—the hedge funds. I say, who cares! I want to know how the dealers are positioned. After all, they’re the ones who run the games. The big specs are just the whales at the tables. Some of them are good players, for sure, but they’re not the House. The dealers are the House. We want to know how the House is positioned. We need to know this information so that we can make a swag on just how impaired Wall Street might be. We want to do our own stress analysis of what’s happening to the dealer portfolios as bond prices move one way or the other. We know that, since last August, the trend isn’t going well for them. I can’t quantify exactly where the breaking point is, but I think we’re close, if not already past it. In this report, I continue laying out the circumstantial case. Subscribers, click here to download the report.` KNOW WHAT’S HAPPENING NOW, before the Street does, read Lee Adler’s Liquidity Trader risk free for 90 days! Act on real-time reality! Link to comment Share on other sites More sharing options...
Jimi Posted February 14, 2021 Report Share Posted February 14, 2021 On 2/12/2021 at 11:19 AM, BurntOnce said: From about $500 an ounce five years ago, the price of palladium quintupled to hit a record of $2,875 an ounce last year, and is now hovering between $2,000 and $2,500 an ounce, above the price of gold. Rhodium prices have skyrocketed more than 3,000 percent from about $640 an ounce five years ago to a record $21,900 an ounce this year, roughly 12 times the price of gold. The soaring prices may be accelerating the shift to electric cars, anal cysts said, noting that catalytic converters now make up a much larger proportion of a gasoline-powered vehicle’s cost than they did even just a year ago. https://www.nytimes.com/2021/02/09/climate/catalytic-converter-theft.html Someone used pipecutters to steal our neighbor's catalytic converter about 2 weeks ago. Link to comment Share on other sites More sharing options...
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