LordWrymouth

LordWrymouth P Updated 

It's not that I am fundamentally bearish on gold. Actually, I am fundamentally bullish on gold. But it's because I think the fundamentals of gold are bullish that this commodity is not bound to pump while the MMs have tipped their hands that they're going to sell Artificial Intelligence and Chinese Communist Party garbage to a willing horde of retail zombies and...

LordWrymouth P Updated 

I hadn't really looked at IWM until a follower asked me about it on Twitter, and after thinking about it for a few hours and comparing it against SPY and QQQ, I realized that it's not that IWM is lagging, it's that it's not going to follow the recent mania. Some wisdom I heard recently is that breadth is important in markets because it indicates a large amount of...

LordWrymouth P Updated 

NVIDIA's price action last week was a historic event in the markets, and at a very strange time. Whenever you see such an outlier, it's time to perk up and really give a deep think to what's going on in the world at large. For me, I had long since anticipated NVIDIA would print a new ATH, but I did not believe it would do it until the markets at large had...

LordWrymouth P Updated 

Apple is something of a reverse canary in the coalmine when it comes to the Nasdaq, specifically because it's its highest weighted company at almost 14%. All these weeks everyone has been bearish, but yet, Apple is not in anything resembling a bear market. Instead, everything about Apple from the monthly chart to the daily chart indicates that the January all...

LordWrymouth P Updated 

One of the first things you might ask yourself with this call is "How did a bull get stuck in a washer and dryer?" The people who look more closely might ask "Why is this bull living out of a washer and a dryer?" The short answer to both of these questions is that the dude listened to Reddit. I say this in every post about memestocks, but Reddit isn't your...

LordWrymouth P Updated 

As I said in my previous call on Tesla, which was rather successful, I'm not a big fan of Elon Musk. Tesla TSLA - The Bottom Is In, But It's Still Bearish Especially as the post-Twitter acquisition has unfolded, I feel Musk rode the wave he could to do his "Twitter Files" thing and clawback some rightists/Conservatives that were alienated under the former...

LordWrymouth P Updated 

I know that whenever something drops by 30 or 50 or 70 percent in one or two days it seems like you might be able to smash buy and ride the bounce back to the top, but just take a look at how well that worked out for tech stocks once the market started to correct at the end of 2021, or just take a look at how well that worked for Silicon Valley Bank dip buyers who...

LordWrymouth P Updated 

Silver's price action has been curious, as it started to drop suddenly right at the beginning of February. Lost 5% in a day, in fact. Gold took a little bit longer to move, and notably dumped on a much smaller magnitude. I have an open call from mid-January that gold is likely to correct, and it appears to be coming to fruition: Gold GC1 - Discard Greed,...

LordWrymouth P Updated 

When it comes to oil, it was supposed to do the super moon back to $120 thing when Xi Jinping and his Chinese Communist Party finally stopped welding people in their homes and going full blown technocratic social credit while humans tried to "fight" Wuhan Pneumonia (COVID-19), but for one reason or another, the pump never got off the ground. Probably because a...

LordWrymouth P Updated 

Good news for goldbugs: GC Gold futures is projected to take out $2,000. Bad news for goldbugs: I still believe that both price action and fundamentals are short/medium-term bearish on gold and that this swing will amount to an exit pump before lower prices forecast in the below post are achieved. Gold GC1 - Discard Greed, Enjoy the Tranquility of Rationality ...

LordWrymouth P Updated 

Ever since NVDIA went up after its February earnings call, it seems that social media traders have been afflicted with a fetish for trying to short it. There's all sorts of fundamental reasons, they say, such as NVIDIA is trading at blah blah times P/E, AI doesn't actually need chips beyond the initial machine learning phase, and of course the top reason that...

LordWrymouth P Updated 

Over the course of 48 trading days between the Dec. 13 high and the Feb. 3 low, natural gas has lost 69 percent of its value. Let's put that into perspective. Just imagine if, over the next 2 months: Gold went from $1,874 to $590 WTI crude went from $79.72 to $24.17 Bitcoin futures went from $21,775 to $6,750 The SPX went from 4099.75 to 1,270 That's...

LordWrymouth P Updated 

It's very dangerous to be bullish on digital currencies. Although the idea that there's some kind of "decentralized" alternative to the central bank fiat and credit card system of monetary control is very romantic, the reality is that mining cartels, which are heavily concentrated in the hands of entities associated with the Chinese Communist Party, run the...

LordWrymouth P Updated 

If you have a taste for anything like freedom of speech, neither Google nor YouTube are companies you will like. This thing started as a search engine that actually had the motto "Don't Be Evil" before it was corrupted by the Chinese Communist Party when "very smart people" wanted to get it into China. You see, doing business with "China" right now always means...

LordWrymouth P Updated 

According to the Internet, Lyft is down some 30% post-market following an earnings call that says the company slightly beat revenue and active rider targets, but reduced guidance for Q1 '23 by roughly 10%. Q1 spending and travel being down under the conditions of a) post-Christmas and b) in an economy where credit card debt and credit card rates are climbing high...

LordWrymouth P Updated 

Best Buy is a company that I never liked. However, recently I had to deal with them and found that the stores are in much nicer shape, the inventory is much better, the web experience is actually pretty clean, and moreover, at least here in Canada, there's actually nowhere else to buy electronics. They pretty much have the market cornered. What I found is that...

LordWrymouth P Updated 

I have to point out once again that, despite all the bearish fundamentals, market price action is simply not a bear market. You see this so clearly on SPX's monthly bars: During the worst of October, all the market was really doing was retracing to the two-month late 2020 orderblock that ultimately led to the 4,800 ATH. Price has since retraced and the...

LordWrymouth P Updated 

So, Silvergate Capital is this bank that services the crypto market and is arguably a pretty shady company. It's a shady company because crypto itself is extremely filthy, is a cult, and doing business with shady cult people who are printing money out of thin air on the Internet brings with itself certain problems that no bank who is legit is willing to muddy its...