Glewis54

Glewis54

As always, the sharp silver breakout was quickly sold. Support appears to have emerged however at the top boundary of the downward channel. While the constraint of the sideway channel shows upside potential only to 27, seeing how Nickel broke the LME exchange shows what can happen. Notice though that the nickel longs were not able to profit as the exchange shut...

Glewis54

It happens every time. Be long the physicals and sell the hell out of paper on every move higher. It always gets sold. See previous posts

Glewis54

Normally I would say this is a strong buy signal. In the financial world we live in these day, traditional methods and signals haven't worked well. But this is a pretty good long term signal. The month isn't over yet but we did test and hold the lows. Got to be liking it here as there doesn't seem to be any better opportunity (for the moment ;-) ) Very long. ...

Glewis54

This is starting to look more like a continuation pattern rather than a basing. Get ready for the possibility of a massive silver puking. How low could it go? Probably most of the weak hands will be out after another big move down.

Glewis54

Buying Jan 24 20 calls. All in. The algos won't let me publish unless I detail my idea Dahh, Inflation getting out of control, Stocks cling to all time highs, but precious metals have no value? After 5,000 years, the money of choice over the millenia has no value? WTF? Pure and simple manipulation that one day will have to end.

Glewis54

What an imagination I have, ha ha. Target date, September 22. 2023 LEAPS January 2023 30-50 spread a bit over $1.00 20-1 longshot?

Glewis54

As seemingly happens every time silver pops, it is quickly sold. As Banks have unlimited funds to sell short, one can expect prices to remain suppressed until the effects of Basel III take effect. My guess is that the new regulations will be delayed and the game will continue on.

Glewis54

Getting ready for a year end blast off, esepcially as Basel III regulations take effect by year end. This Reverse H&S pattern shows the possibility of 4 points higher. While I have been thinking that the big inflation play make take five years to play out and thus have been buying physicals more than paper, Basel III may stop some of the paper manipulations that...

Glewis54

Had been looking for a retrace to the breakout level, from June 2016. Have to step up and buy big on the 2023 LEAPS as this is the moment. Looks like it can go lower and longer term stochastics continue to drop but have to stick with the discipline, right? It does hurt though as my paper account has been getting decimated. Hey, it's only worthless fiat...

Glewis54

IMO is the best looking oil company chart that I could find. The weekly pattern shows the possibility of a three week test of the low. This support level includes the 40 week moving average and the .326 fib retracement level. The wave structure suggests that we may be in the fourth wave of an impulse pattern, with wave five to begin soon. Often, wave five...

Glewis54

SLV appears to be holding support at the .328 Fib retracement line. One theory says that after a .328 retracement, prices can be expected to rally to the .236 Fib line, @32. Another rally, similar to the last, could catapult prices to 38 or better. One long term spread I've been accumulating is the Jan 23 30-50 spread. Bought some more this morning for under...

Glewis54

Looking for support to hold here. Had some 24 calls that expire today against long stock. Will be looking for a bounce next week on the stock and an opportunity to sell more calls. The premiums for X options are quite high. Good volatility for trading.

Glewis54

After a lengthly five wave pennant formation and a successful three-week test of the low last week bodes well for silver prices. Eight point upside could be possible starting this week! The current consolidation has gone on for a year now. An upside breakout should give those who have had patience significant reward.

Glewis54

If you have some cash set aside for market sell-offs, Where might the better value be? Versus the S&P, gold perhaps might have never been cheaper. Same for Silver. When the paper markets collapse, what will be the value of anything? At least with physical PMs, an ounce of gold will always be an ounce of gold.

Glewis54

After a couple of months up without a reset, I wouldn't be surprised if we have some weakness this month. Perhaps a good opportunity to build the Jan 2023 LEAP positions. Believe that at that point, SLV will have cleared 30 with now problem so have been building 20-40 and 30-50 call spreads. Interesting to note that on the way up as well as the way down, the...

Glewis54

The casual observer would not be surprised in the least should CPI data come in red hot, interest rates surge, the Fed steps in - stops QE and the markets plummet! While unlikely, the market is set up for a fall next week. I was looking last week for the test of the high, and it failed. The market extended this week but still did not take out the weekly closing...

Glewis54

As recent estimates indicate that inflation is past the 10% level. I have come across some writings that indicate that a spike to 5% on the 10 year might not be out of the question. Reviewing TLT, a 20 year bond ETF, I saw that the last time TYX was at 5%, TLT was around 80. I took an initial position in 140 Puts yesterday and will continue to add on with any...

Glewis54

Once again, SP approaches a sell signal - the three-week test of the high. While stocks have failed this test over and over again over the past 12 years, and continued on higher, it still stands for me as an intermediate sell signal. Foolish as I am, should it appear that we will fail to close above 422.12 tomorrow for the weekly close, I will again feed the...