The Lunatic Fringe - Market and Trade Chat

Welcome to the Precious Metals Bug Forums

Welcome to the PMBug forums - a watering hole for folks interested in gold, silver, precious metals, sound money, investing, market and economic news, central bank monetary policies, politics and more. You can visit the forum page to see the list of forum nodes (categories/rooms) for topics.

Why not register an account and join the discussions? When you register an account and log in, you may enjoy additional benefits including no Google ads, market data/charts, access to trade/barter with the community and much more. Registering an account is free - you have nothing to lose!

That topping tail at 29.90 from a few weeks ago is still in play. Unless we get above that I think this move is done for now. A break above 30 that holds and confirms would tell us that this time is different and something is amiss.

Big picture. Companies are starting to warn that the consumer is tapped out. This will lead to a recession and that's when the fed has to cut rates. I do expect that by the end of the year and maybe the market is also sniffing that out. It is an election year though so the fed really doesn't want to have problems right about now. Maybe unavoidable, maybe not. Time will tell.
Possibly a market correction of 10-15% before the election only so the market can rally by years end after the election results.

If the previous post about a brics announcement is true then we will see the mother of all inflation coming home to roost. gazillions of trillions of dollars coming back to the US all at once will make the 1970's look tame in comparison. All that inflation we sent overseas so we could live comfy lives here in the US and it all comes home at the same time. Very ugly. Gold and silver would go higher than anyone could ever imagine but I wouldn't be selling any for worthless currency. So we better hope this isn't true. I have serious doubts that it is true. There is no other currency large enough to be the next world reserve currency.
 
Re: Gamestop -

GameStop shares rallied dramatically on Monday after "Roaring Kitty," the man who inspired the epic short squeeze of 2021, posted online for the first time in roughly three years.

The post, a picture on X of a video gamer leaning forward on their chair as if to indicate he's taking the game seriously, marked Roaring Kitty's first post on the platform — or on Reddit — since 2021. The post has garnered 63,000 likes in 13 hours.

GameStop last traded up 68% after soaring as much as 110%. Trading in GameStop was halted multiple times due to volatility. AMC, another meme stock, jumped 19% Monday, while Reddit traded 11% higher.

Roaring Kitty, whose legal name is Keith Gill, is a former marketer for Massachusetts Mutual Life Insurance. Also known as DeepF------Value on Reddit, Gill drew an army of day traders who cheered each other on and piled into the brick-and-mortar video game stock, and GameStop call options, between 2020 and 2021.
...


It's ridiculous how much capital flows into absolutely nothing for practically no reason. I see the same thing with "meme coins" in crypto. Crypto coins are created without even a pretense of any use case/utility/purpose. They exist as a joke and they get millions and sometimes billions of dollars worth of market cap for no reason at all.
 
Wholesale prices jumped more than expected in April, putting up another potential roadblock to interest rate cuts anytime soon.

The producer price index, a gauge of prices received at the wholesale level, increased 0.5% for the month, higher than the 0.3% Dow Jones estimate, the Labor Department's Bureau of Labor Statistics reported Tuesday. However, the March reading was revised from an initially reported 0.2% gain to a decline of 0.1%.

Stripping out volatile food and energy prices, the core PPI also rose 0.5% compared with the 0.2% Dow Jones estimate. Excluding trade services from that core group showed a 0.4% increase on the month and 3.1% on a 12-month basis, the highest level since April 2023.

On a year-over-year basis, wholesale inflation rose 2.2%, also the highest in a year. The core PPI inflation was at 2.4%, the biggest annual move since August 2023. Both numbers were in line with estimates from Reuters.
...


As most anyone who is paying bills already knows... inflation is not tamed.
 
Gamestop round 2?



Hmm, seems like someone around here was telling everyone this was coming. :cool:

Even from here it could double and double again and double again. And still be the size of well ironic between the size of Blackrock and Citigroup.

The markets are all FAKE. There are so many fraudulent schemes and methods of control I couldn't even come close to naming them all. I think this is a two-headed monster that is going to slay everything in its path. With silver being that second head. I just watched the Big Short and they started to see the real problems. Somehow it was papered over for a looooong time but that is over. A.) Yes they are ALL Criminals B.) COUNTER-PARTY RISK <----- that is your focus.
 
The markets are all FAKE. There are so many fraudulent schemes and methods of control I couldn't even come close to naming them all. I think this is a two-headed monster that is going to slay everything in its path. With silver being that second head. I just watched the Big Short and they started to see the real problems. Somehow it was papered over for a looooong time but that is over. A.) Yes they are ALL Criminals B.) COUNTER-PARTY RISK <----- that is your focus.
You said it better than I..!

Have you perused these:

The Great Taking Documentary


The Great Taking: How Deep State Will Ensure You Own Nothing
https://www.bitchute.com/video/OyCDeuMHECL1/

The Great Taking - book
https://img1.wsimg.com/blobby/go/1ee786fb-3c78-4903-9701-d614892d09d6/taking-june21-web.pdf

The Great Taking Author Warns, The System Was Created to Take All Your Money, No One Gets Spared
 
Silver took out that old topping tail in April at 29.90 but has pulled back to that level right now. A close above that and we could run but I don't expect that with so many shorts on board. As GH pointed out in the above cot report they are short 538 million ounces. All they have to do is make a phone call and get the margin requirements changed on a moments notice. So instead of 17 or 18k needed for a 5000 oz contract they make it 100% cash requirement or right now that would be 150,000 per contract. If they do that silver tanks. Not saying they will but that's how they typically kill these rallies when shorting 1/2 a billion ounces doesn't work.
 
I'm guessing tomorrow is going to be a dogfight to get the weekly close at or above resistance. I expect today is going to be some sideways water treading. As always though, I could be very wrong!
 

Dow breaches 40,000 mark as rate-cut hopes fuel fresh record high​

  • Deere falls on annual forecast cut
  • Walmart rises on annual forecast raise
  • US weekly jobless claims fall
  • Indexes up: Dow 0.28%, S&P 0.25%, Nasdaq 0.21%
May 16 (Reuters) - The Dow crossed the 40,000 level for the first time on Thursday, notching a fresh all-time high and leading Wall Street gains a day after tepid inflation data bolstered hopes of interest-rate cuts.

The blue-chip index has recovered nearly 40% from its October 2022 lows, powered by strong quarterly results and rising bets of interest rate cuts by the Federal Reserve.

"The Dow is seen as 'Main Street America' and media across this country and global media reference the Dow," said Quincy Crosby, chief global strategist at LPL Financial.

More:
 
Silver is really fighting to get that $30 handle print.

Another view of this whole meme stock thing. 2007-08 really showed the Hedge Funds just how corrupt that Wall Street had become. The meme-stocks showed Retail just how bad and corrupt the whole system had become.
 
u0rY0CeJvYvLO.webp
 
Well, so far, it doesn't look like much of a fight. Silver broke through $30 convincingly and looks to be holding. Gold has breeched $2400, but is still close to the mark.
 
Well they managed to smack Down GME and whooops GD that slippery Silver shot past $30. Multiple pronged attacks are much stronger than single point attacks.
 
Silver >31 now. Where does it find a new resistance level now? 32? 35? 36?
 
That topping tail at 29.90 from a few weeks ago is still in play. Unless we get above that I think this move is done for now. A break above 30 that holds and confirms would tell us that this time is different and something is amiss.

Big picture. Companies are starting to warn that the consumer is tapped out. This will lead to a recession and that's when the fed has to cut rates. I do expect that by the end of the year and maybe the market is also sniffing that out. It is an election year though so the fed really doesn't want to have problems right about now. Maybe unavoidable, maybe not. Time will tell.
Possibly a market correction of 10-15% before the election only so the market can rally by years end after the election results.

If the previous post about a brics announcement is true then we will see the mother of all inflation coming home to roost. gazillions of trillions of dollars coming back to the US all at once will make the 1970's look tame in comparison. All that inflation we sent overseas so we could live comfy lives here in the US and it all comes home at the same time. Very ugly. Gold and silver would go higher than anyone could ever imagine but I wouldn't be selling any for worthless currency. So we better hope this isn't true. I have serious doubts that it is true. There is no other currency large enough to be the next world reserve currency.
The dollars that get repatriated will first buy PMs, then domestic real estate and businesses.
 
Back
Top Bottom