MoneybagsMcGee

MoneybagsMcGee Updated 

Looks like the craze over high interest rates is coming to a congestion zone. If you go back to 2019, there were hella buyers at $135. I think we are getting to the point where such high interest rates, while the stock market is still skyrocketing, and yet the global economy has not recovered; or said better, investors are in denial. When interest rates are low,...

MoneybagsMcGee Updated 

fake break. pop soon.

MoneybagsMcGee

Interest rates are going to continue to move up to help drain the excess liquidity in the system. TGA will spend the last of its money in the form of a stimulus package, then we will see a great reversal on the dollar and interest rates, as cashflow continues to dry up, banks too scared to loan to each other (and therefore not make consumer and commercial loans),...

MoneybagsMcGee

With the advent of physical supply dropping, and the seasonality and market fundamentals that favor silver, I think this TP selloff will reverse once it's done being rangebound.

MoneybagsMcGee

Been ranging since the fall on January 6th. By Friday it will retest the current resistance trendline and breakout to retest 1880, quickly seceding and pushing back upwards to 1950 probably by next month, if not sooner.

MoneybagsMcGee

dec 8, dec 21, and jan 6 saw highs, then a fall back to the trendline. if it does not fall under, we should see a rise back up to the previous 1961 high by the end of next week/beginning of the following week. shortterm still looks bullish asid from these occasional overnight megasells. in terms of fundamentals, i think the next few weeks could see sideways or...

MoneybagsMcGee

Descending triangle forming in last 3 days. Uptrend is about to wane and fall under the .236. I think as it falls below and the .236 line is the new resistance, it won't have the strength to move above. Momentum has been sporadic and unreliable, and the inability to gain momentum above 46 is a telling sign that oil can't go up without going back down for now....

MoneybagsMcGee

Getting used to Elliot Wave Theory. Please provide your thoughts as well. This is mainly just for me to learn. Thank you, guys!

MoneybagsMcGee

The market has been waiting for another drop since the stagnation of 2017/2018. Repo Madness and easy liquidity for banks has kept this bubble from popping, and we are nearing towards the end of this fake crisis. The bubble itself is obvious, and the artificial inflation back up to all-time highs is a death knell for any kind of cautious, future-focused investor....

MoneybagsMcGee

Red line - Previous ATH Green Line - Trend since April 21st. If there was a time to short, it'd be now. With skyrocketing Covid and inevitable lockdowns, continued unemployment, no stimulus bill progress, and boomers liquidating their pensions and retiring early, it's time for the real crash to happen. It'll probably fall back down to the lows of March, while...

MoneybagsMcGee

Earlier this year, when Biden won the nomination. I was pretty sure he had a good shot at taking the win. Let's face it, we're living in the climax of a Crisis Generation*, and bizarre things always happen during times like these. According to the Strauss-Howe Theory, the eponymous name elaborated by the two in the 1997 book, The Fourth Turning , there are...

MoneybagsMcGee Updated 

An increasingly precarious situation is growing in the black oil kingdom in the Arabian Peninsula. As the clown nation of the US, that has built much of its economy and job market on artificially high oil prices, the Saudis have all the reason to undercut high WTI prices by continuing to ramp up production. While British Petroleum has come to terms with the fact...

MoneybagsMcGee

Well it's starting: www.washingtonpost.com Unpaywalled article about the same thing: money.yahoo.com So many Americans, 45% of whom*, who do not even have a dollar in savings, and most of those are lower-class, nonsavers who are renters who don't get the benefit of forebearance, are now facing the ensuing reality that we don't live in a benevolent despotate...

MoneybagsMcGee

We all know it's going to happen, just a matter of when, it seems. Day after day, I come across different traders who have their own narratives about when this debt crisis will finally rear its ugly face and we will be faced with a sober reckoning of decades of monetary irresponsibility and irresponsible allocation of scarce resources to state capitalist...

MoneybagsMcGee Updated 

For each peak of the descending triangle, each fib was hit, then fell back to the succeeding fib line, until where we are no where gold is ranging in the last fib zone. Short time. Gold will probably start plunging back to last strong support. First we will hit 1790-1810, before the reality sets in for the bulls. Conversely, if the news is bad enough and bulls...

MoneybagsMcGee

HOLD ONTO YOUR BAGS LADIES AND GERMS BECAUSE THIS MARKET AINT GOING ANYWHERE BUT UP!!!!!! X) As the advent of a global economic implosion is brought about, not from le covid scam, but from something le greater - the "we will run our economies purely on slave labor and fake monopoly monies ad infinitum and nothing will ever get bad. oh there are recessions? well...

MoneybagsMcGee

As gold bulls start out their ideas out with today, I will keep the beginning short - yada yada yada fed pumping liquidity, yada yada yada new bear markets, yada safe haven assets, yada global crisis, yada dollar going to zero. Now that we got that out of the way, I want to talk about the medium-term game: I think currently, the whole world economy is in a...

MoneybagsMcGee Updated 

We are coming to end of descending triangle. If current bullish moves are confirmed, and we break ~1970 zone, expect for bull moves upwards to continue. Any, and I mean any bad news, whether it be US election recounts/hung election, lockdowns, worsening riots, anything, and I see gold maintaining consolidation. What I expect is more bearishness in economy coming...