Thread: Bear Cave 2 (Bull Allowed)

SPY daily: So we have free lunch Friday and Easy Money Monday in play.
SPY weekly: The weekly cycle remains Very stretched....
VTI monthly: Also very stretched but most traders and investors just don't care. Someday we will get a YCL..... LOL.... Maybe a move down around 5%.....
Bottom Line: The SPY and the Total Stock Market trend remains up!

"Silver has been consolidating below the 24 level for the past 3 weeks."

Red,

I will be looking to buy some silver - AGQ..... Trading some JNUG today as the dollar takes a hit..... Selling my remaining miner positions with this move up and will reload later.

Selling EQX and GDXJ..... ST trading JNUG today ONLY! I will go flat into the weekend.

For the record: A closing move above the 10 dma is a buy signal for me. However, I take it slow in this sector and 100% position for me is only a 10% position in one of my Vanguard accounts. I ST trade JNUG, NUGT, and DUST when I like the setups. I'm a TRADER not an investor in the metals/miner sector.

Red,
The weekly cycle low for gold "COULD" already be in..... We shall see how this plays out.....

Gold weekly: Waiting!
GDX weekly: Two gaps on that chart that COULD fill if the Bankers crush gold down again. Also, a 10% move down for stocks could also smash down the miners...

I remain a ST trader only in this sector. Been doing ok lately in this sector.

I might place a Beer Money trade using VXX today.....

VXX 2 hour chart: Testing the lows......

VXX daily: We shall see if we are hitting a ST bottom. I decided to take a small position. Buying only 50 shares.... Buy protection when it's cheap. We shall see how it closes....

Long VXX @$25.75..... I might add another tranche later since this is a small trade. Around $25.50ish if we get there and it looks possible.

08/27/2021 Executed VXX BARCLAYS IPATH SER B S&P 500 VIX SHORT TRM FUTURE ETN NEW Buy Limit: $25.75 Day 50.000 $25.75 —

Originally Posted by robo

Are you talking about this guy?

https://twitter.com/SevenSentinels?r...Ctwgr%5Eauthor

No, I actually like Don's stuff even though his time frames are too short for me.

I'm talking about Sven Henrich

https://twitter.com/NorthmanTrader

He caught my eye when he made a few calls about support lines after the crash, but both him and his "sniper" wife thought it would run out of gas around April-May 2020. He's been complaining about fed intervention ever since - and still is to this day.

Perfect example of a tweet from an hour ago: https://twitter.com/NorthmanTrader/s...01753698459649

Originally Posted by Bullitt

No, I actually like Don's stuff even though his time frames are too short for me.

I'm talking about Sven Henrich

https://twitter.com/NorthmanTrader

He caught my eye when he made a few calls about support lines after the crash, but both him and his "sniper" wife thought it would run out of gas around April-May 2020. He's been complaining about fed intervention ever since - and still is to this day.

Perfect example of a tweet from an hour ago: https://twitter.com/NorthmanTrader/s...01753698459649

Gotta Brother..... I use to read his stuff too, but haven't lately..... Love it or hate the Total Stock Market Melt-up continues.

I feel like I am playing a pinball machine…

I got stopped out of a position in yesterday's downdraft that was mostly LT cap gains. It had become a very volatile stock in 2021 and I'm glad to be out of it. Re-invested some back into a treasury ETF, the rest will be used to pay for a recent trip. It's hard not to notice the golden cross in bonds two weeks ago.

SLV daily: A move above the 10 and 20 dma is a buy, but I need to see a move above the 10 wma and a confirmed ICL. However, nothing wrong with this plan if you are a trader like me. I will be trading AGQ.

SLV weekly: Remains below the 10 wma.... I'm waiting on the confirmed weekly ICL...... before getting to a 10% position

$Silver daily:

SILJ daily:

Silj weekly:

Simple Silver Plan – Update

Silver closed above the 24 level on Friday.

Silver has been consolidating below the 24 level for the past 3 weeks. Silver broke above consolidation on Friday, which could lead to a trending move. Closing above 24 was a buy signal. Positions can be added to with a close above the 50 day MA, then again on a close above the 200 day MA. The first stop would be a close back in consolidation. The next would be a close back below the 50 day MA. Then once above the 200 DMA, using that as the stop.
https://likesmoneycycletrading.wordp...erplan-update/

Cycles Chart.

Waiting for ICL in stocks (break of blue trend line).

Dollar close to ICL drop (break of blue trend line). Higher lows and highs so that is positive for dollar but a drop is coming soon.

Gold broke the intermediate (blue) trend line in August so I should mark that as an ICL. We had a couple peeks above the 200 DMA in 2017 before gold broke out. Looks like we are repeating that (albeit weaker this time).

$cycles$.jpg

Market Sentiment and 200 DMA charts. For grins I marked the divergence between the 200 turning down and the distance from the 200. Divergence on UUP like prior turns but weaker this time. Divergence on gold similar to weakness seven years ago.

SPY 200 sloped up more and price farther above 200 than last big run in 2017. Sentiment is similarly high. 2017 run ended with lower sentiment and lower 200 stretch which we haven't seen yet. BTFD.

UUP 200 is turning up but stretch from 200 is weak compared to previous turns. Odd.

GLD 200 is turning down but stretch from 200 is weak compared to previous turns (similar to seven years ago). Odd.

Markets.jpg

Daily/Weekly market chart. SPX looks strong. UUP weak. Gold strong.

charts.jpg

SPY ribbon chart is a powerhouse so BTFD.

ribbon.jpg

Wallstreet Bets hot stock charts (weekly). BABA, ROOT and WISH look like they are bottoming.

wsb1.jpg

wsb2.jpg

BPGDM chart. Not the usual BPGDM level for a GDX low. I am hoping for one more drop (there is still intermediate cycle time) but maybe that is because I don't own any metals.

bpgdm.png

Here is a small TLT chart to check sharpness. The original is 570x493 (9.24KB) and razor sharp. The attachment is displayed at 713x615 (9.24KB). It looks like the images are stored full-size but displayed in a different size which blurs them. I see the need to shrink large images to fit the screen but can the Admin change things so small/normal images are displayed at their actual resolution?

tlt.png

It is tedious to create these large posts. It would be faster if I could upload a document with text/charts which got turned into a post by the system. Also upload files keeps changing to URL. Can it be made sticky so I don't have to keep changing it back to From Computer?

And finally, here is an exclusive video of Powell's speech at Jackson Hole.

LOL...... Love the video!