Coronavirus Stock Market buy off.

[Ricboff]

keep an eye on silver......

SLV

6 mth daily

look at Thursday's volume . MASSIVE. Before Thursday we had indecion trading, tight range, all doji's, just kinda hangin' around. Thursday? GAP up , straight buying, reclaims BOTH the 8 ema and 50 ema, bullish. Contiuation Friday, late day selling. IF she can break that previous April high at about $14.75ish? she's free, a run to likely fill thr gap $15,50. Classic W-bottom (april mid to now).


SLV

2 yr weekly

increased vol last week , bullish engulfing pattern.......the daily and weekly both have probability strongly suggesting continuation. You can see clearly on the weekly how $15.50 will be a HUGE resistance level

:toast:

gotta protect profit, stop just pennies below today's low. May close the entire postion if i dont like the candle anatomy at 3:55pm, i dont want to a doji at 3:55 pm, no way, its a sell for me


bad news on APPL today...wow, for a minute there i thought they were immune to real life

 

[snoop]

Megabanks are trading like small cap - up 6% one day, down 4% next day.

They should put 'TECH' next to their names ... Wells Fargo Technology or something, stock will trade at 100 PE instantly.

 

[snoop]

Google market cap is bigger than the top 5 banks in the US combined. (JPM/BAC/WFC/C/USB).

 

[Ricboff]

lol, Shopify recently passed RBC as having Canada's largest market cap. Tech, healthcare , miners/metals...



speaking of banks, how about this guy


DB (Deutsche Bank)

10 yr monthly

One of the largest banks in Europe. 10 yrs ago , $55 a share. One word..............................................................................DISASTER

 

[CHOPTALK]

How big of a deal is debt ?
Been hearing about it since the Reagan administration but seems like we just keep printing and everything just goes away .

Been hearing the sky is falling every last time but it never seems to happen.

9/11, 2008, and now .

Im not saying it’s not gonna happen but this about the 4th time I’ve heard this is the big one .

And 6 months later everyone forgets about the debt .

Im just taking out loud

 

[TheFalls]

How big of a deal is debt ?
Been hearing about it since the Reagan administration but seems like we just keep printing and everything just goes away .

Been hearing the sky is falling every last time but it never seems to happen.

9/11, 2008, and now .

Im not saying it’s not gonna happen but this about the 4th time I’ve heard this is the big one .

And 6 months later everyone forgets about the debt .

Im just taking out loud

look up modern monetary theory (magic money tree)
it's going on now thanks to our military and reserve currency status

 

[snoop]

Debt is just some #s sitting on the spreadsheet at the Treasury/Fed.

US dollar is the world reserve currency, we have the license to print.

China/Japan/Saudi....don't want US debts, no problem. The Fed will finance them at will.

Fed has printed $2.5T to fund stimulus since Mar - let's that sinking in.

 

[PatsFan1283]

Why collect taxes to the tune of 20% of GDP then?

 

[snoop]

To slow down the printing...@)

 

[snoop]

US dollar is gaining more strength following every crisis - that's pissing off European union gangs and Chinese.

 

[CHOPTALK]

US dollar is gaining more strength following every crisis - that's pissing off European union gangs and Chinese.

Yes it’s amazing .
So does debt really matter much?

You said we have license to print .
I know there has to be some sort of limit to that but it seems like we just keep printing and everyone forgets about it 6 months later .

 

[CHOPTALK]

look up modern monetary theory (magic money tree)
it's going on now thanks to our military and reserve currency status

ok I will
thanks

 

[snoop]

There is no limit to what the Fed can do. They can print/spend/write-off debt (those forgivable PPP loan).

Inflation is what everyone should be worrying about. Deflation is a bigger threat to the Fed right now.

 

[Michelangelo]

I'm noticing inflation in food and garden goods right now. Restaurants gonna be in a price bump squeeze on top of all their other headaches.

No measure of everything else but I would think everything else would need lower pricing to compete.

Crazy times.

Thanks Government.

 

[CHOPTALK]

I'm noticing inflation in food and garden goods right now. Restaurants gonna be in a price bump squeeze on top of all their other headaches.

No measure of everything else but I would think everything else would need lower pricing to compete.

Crazy times.

Thanks Government.

The food prices are not higher due to inflation . That’s due to logistics .
Many of the packing facilities are either tremendously understaffed or shutdown all together

 

[PatsFan1283]

That is true, the food price inflation is not due to a monetary phenomenon (money printing/debasement) but rather a supply chain issue

(not yet anyway)

 

[mickj]

GLD chart forming a wedge......imo, going to break........

Is that going up or down? (the price).

 

[PatsFan1283]

to the moon mickj

we can only hope

 

[mickj]

I hope it means up, too. LOL

 

[Ricboff]

GLD chart forming a wedge......imo, going to break........

Is that going up or down? (the price).

mickj, i posted that wed morning before the open, so remove 3 candles from the right.

i didn't know to which side just knew that the pattern it was forming was indicative of a pending decisive break. It indeed broke, and it was to the upside. (It was even more clear on GC Futures chart, btw)

GLD

6 mth daily 8 ema

once it broke $162 on Thursday it was clear to which side

few things;

-NOT a good candle print on Friday . Indecision candle at a top, RED FLAG , especially if it opens negative on Monday. IF it opens positve AND prints a candle like Thursday? VERY BULLISH and clear J-hook pattern .

- it is formgn bearish divergences with various indicators , not just one. Really really really dont like that



with that candle print on Friday at 3:55pm and the bearish divergences evident on more than one indicator? yesterday at 3:55pm i'd not add to positions, that's for sure

if it pulls back, dont want it to lose $162, needed 14 days to reclaim it!!

my two cents