UPDATE May 13
ooh I just noticed its friday the 13th!
That makes my day much better! because today I get to do what I was born to do, this time from the other end of the table.
So let's look at some charts:
Silver/Gold oh, Iam loving this dip (yes my Silver is down, but I don't care because my SQQQ is up!*that goes for all my stocks value down account up or even except moo)
$Micro Silver Futures(DEC4) (SILmain.US)$ $iShares Silver Trust (SLV.US)$ $Sprott Physical Silver Trust (PSLV.US)$
Weekly to show we have one day left of fight to get over the trendline (yellow), if not as you can see from the past we have stayed below but we need at least a really good effort 🧗♂️
And BTW this is a long falling wedge, that will lead to a
That makes my day much better! because today I get to do what I was born to do, this time from the other end of the table.
So let's look at some charts:
Silver/Gold oh, Iam loving this dip (yes my Silver is down, but I don't care because my SQQQ is up!*that goes for all my stocks value down account up or even except moo)
$Micro Silver Futures(DEC4) (SILmain.US)$ $iShares Silver Trust (SLV.US)$ $Sprott Physical Silver Trust (PSLV.US)$
Weekly to show we have one day left of fight to get over the trendline (yellow), if not as you can see from the past we have stayed below but we need at least a really good effort 🧗♂️
And BTW this is a long falling wedge, that will lead to a
Those SLV LEAPS I posted yesterday are how dragons are made.
Sleep easy and sell 2 years of calls with shares you don't own. Make the stock work for you.
$SPDR Gold ETF (GLD.US)$ $E-micro Gold Futures(DEC4) (MGCmain.US)$
Same as silver - it broke 1835 the next stop is 1770 if it doesnt turn around. Heres the thing I called a couple bullion dealers yesterday and the locals had no merchandise while the online "deals" were the same price as the day before (gold $2050 silver $26) so price drops but the markup increases, another failed "free" market. Paper gold and silver are a joke because they are manipulated, and just for reference all stocks are manipulated - the rich pay cheaper prices than you do because the real market (I'll give you X for Y) only exists between banks.
Same as silver - it broke 1835 the next stop is 1770 if it doesnt turn around. Heres the thing I called a couple bullion dealers yesterday and the locals had no merchandise while the online "deals" were the same price as the day before (gold $2050 silver $26) so price drops but the markup increases, another failed "free" market. Paper gold and silver are a joke because they are manipulated, and just for reference all stocks are manipulated - the rich pay cheaper prices than you do because the real market (I'll give you X for Y) only exists between banks.
$Invesco QQQ Trust (QQQ.US)$ $ProShares UltraPro Short QQQ ETF (SQQQ.US)$ $ProShares UltraShort QQQ (QID.US)$
We are going down, do we get relief today?
We are going down, do we get relief today?
Weekly showing how far I believe we can go.
OXY just to give you a refiner/explorer
Now futures, we may get a relief rally
VIX $VIX Index Futures(NOV4) (VXmain.US)$ $VIX Index Futures(NOV4) (VXmain.US)$ $ProShares Ultra VIX Short-Term Futures ETF (UVXY.US)$ 29.9 then BOOM!
VIX $VIX Index Futures(NOV4) (VXmain.US)$ $VIX Index Futures(NOV4) (VXmain.US)$ $ProShares Ultra VIX Short-Term Futures ETF (UVXY.US)$ 29.9 then BOOM!
NQ $E-mini NASDAQ 100 Futures(DEC4) (NQmain.US)$ Looks like a little rally, in the recent past these were met with sell offs, let's see what Friday the 13th brings
Hit 11689 to make some think it bottomed - why? what has changed? is inflation better? is everyone going to run out and travel when costs are all time highs? are they going to buy that thousand dollar iPhone? the answer is NO, but get this, the FED that said inflation was transitory then a problem now yesterday after jpoww was confirmed he admitted they cant do a soft landing, ruh roh shaggy! the FED is F*d and are so are we, because while they live in ivory towers and inflation has no effect on them - they make the decisions that effect you.
END THE FED!!! FREE THE MARKET!
END THE FED!!! FREE THE MARKET!
HOURLY's - VIX NQ
I believe when VIX hits 29.9 then it will reverse and crush the Nasdaq
I believe when VIX hits 29.9 then it will reverse and crush the Nasdaq
I believe NQ is just cooling indicators. Starting to get bearish divergences, that being said bear markets can have violent oversold rally's so be careful bear hunting out there.
And now that I'm done I'm going to get on my soap box
The market is like a train 🚂 on a track 🛤
(back when they were being built the max grade was 2.5% just like our market and inflation)
chugging through the mountains at a steady 2.5 percent grade, then the FED decides this is unsustainable if we go at 2.5% eventually we need to come out of the mountains so they built a 2.5% downgrade (that's a 5% swing which was their inflation goal)
Now the train is coming down the mountains too fast and the FED is unwilling to pull the brake lever (20% interest rate) to stop it, (because they can't! the country couldn't afford its debt at anything close to 5%) Inflation will keep picking up steam, the FEDs only tool to stop it now is to blow up the train. (crash the economy)
But until they do that, they have decided to do what all failing organizations do, they tell the passengers everything is fine, while they jump off the train. (all those tech CEOs and politicians sold in Nov but retail still bought)
What is happening is the FED is INTENTIONALLY causing a crash and mass unemployment ITS THE ONLY TOOL THEY HAVE TO STOP DEMAND!!!
They told you, you just didnt take them seriously
"No memes No crypto No Fun - go back to work"
But IAM you just said they are creating unemployment? Yes - In Tech and non productive sectors...
We as a country made amazing tech advances and went from "Work smarter not harder" into "Work less" and created generations of lazy unskilled workers. IAM talking about the REAL workforce those that build and deliver real tangible things. So as a nation we can consume just not replace.
off soap box.
Down the mountain I go
As always Good Luck
The market is like a train 🚂 on a track 🛤
(back when they were being built the max grade was 2.5% just like our market and inflation)
chugging through the mountains at a steady 2.5 percent grade, then the FED decides this is unsustainable if we go at 2.5% eventually we need to come out of the mountains so they built a 2.5% downgrade (that's a 5% swing which was their inflation goal)
Now the train is coming down the mountains too fast and the FED is unwilling to pull the brake lever (20% interest rate) to stop it, (because they can't! the country couldn't afford its debt at anything close to 5%) Inflation will keep picking up steam, the FEDs only tool to stop it now is to blow up the train. (crash the economy)
But until they do that, they have decided to do what all failing organizations do, they tell the passengers everything is fine, while they jump off the train. (all those tech CEOs and politicians sold in Nov but retail still bought)
What is happening is the FED is INTENTIONALLY causing a crash and mass unemployment ITS THE ONLY TOOL THEY HAVE TO STOP DEMAND!!!
They told you, you just didnt take them seriously
"No memes No crypto No Fun - go back to work"
But IAM you just said they are creating unemployment? Yes - In Tech and non productive sectors...
We as a country made amazing tech advances and went from "Work smarter not harder" into "Work less" and created generations of lazy unskilled workers. IAM talking about the REAL workforce those that build and deliver real tangible things. So as a nation we can consume just not replace.
off soap box.
Down the mountain I go
As always Good Luck
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Kopi is Life : How’s OIH boss?
Dons hobby : Iam do you know what happened to LPG ? Down over 2 dollars premarket ?
Thanks Don
iamiam OP Kopi is Life : buy on red days
SpyderCall : Looks like oil is trying to break out right now
jimmychoos : New to options but gotta start somewhere.. how does selling the slv calls work? Thought if we’re bullish we should buy the leap calls
iamiam OP jimmychoos : you buy the leaps. once you buy the leap you can start selling shorter dated calls against them, you must sell a higher strike. this really pays off when the price reverses and you can sell them for the cost of your leap on weeklys.
Moon486 : thanks for sharing
Shuseido : Many think yesterday was the BOTTOM for NQ.
Do You think so or tech stocks still got much room to fall?
Thanks.
jimmychoos iamiam OP : Wow ok will digest this, tks!
BruceLin8 : @iamiamyou said VX 29? So you mean Nasdaq will go down gain?
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