Jump to content

Air Pockety 2/12/21

Rate this topic


Recommended Posts

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. 

tvc_9bdbd02819c42dbb95bba82988972d25.png

 

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 post
Share on other sites
  • Replies 18
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

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. 

tvc_27a8f762f254d16eab34fcc9daa03ace.png

Link to post
Share on other sites

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 post
Share on other sites

Until further notice all patterns are bullish. 

Repeat

Until further notice, all patterns are bullish.

tvc_60ef9f25dd596a400a7c94e1b6baed7a.png

2-3 day cycle projection 3920. 

Link to post
Share on other sites

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 post
Share on other sites
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 post
Share on other sites

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 post
Share on other sites
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 post
Share on other sites
Guest
This topic is now closed to further replies.
  • Tell a friend

    Love Stool Pigeons Wire Message Board? Tell a friend!
  • Recently Browsing   0 members

    No registered users viewing this page.

  • ×
    • Create New...