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07-11-2021, 10:13 AM
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#2731
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,759
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07-13-2021, 12:17 PM
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#2732
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Registered User
Join Date: Jan 2010
Posts: 2,176
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GLD
Quote:
Originally Posted by FakeNameChanged
Today, GLD, temporarily ticked off my requirement for being above the 21 day Mov. Ave at 169.85, but it closed slightly below. Both the short, and longer term MACD's are now positive. The dollar is still in a fairly strong uptrend.
A year or two ago, another analyst I talk to on stockcharts, said that gold and the dollar were tracking in a similar trend, which he said was unusual. So I looked back, and true enough from fall of 2018, until July/Aug, 2020, Gold was in a strong uptrend. The $US Dollar also tracked in the same uptrend, from spring of 2018 to May of 2020. So it looks like the US Dollar was leading Gold's uptrend by a few months and finished its uptrend a few months before Gold stopped. The dollar's current uptrend only started near the end of May, if it continues.
I'll want to see more confirmation by GLD to see if it follows through on starting a fresh uptrend.
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GLD is giving multiple buy confirmations now. SLV still has a ways to go from my viewpoint. The US Dollar is showing more weakness, but nothing drastic.
The GDX- Gold miners ETF looks like a bottom, if it holds the rest of day and confirms the next couple days. The Jr. Gold miners(GDXJ) looks like it might be at a bottom, but not as strongly as the regular gold miners.
__________________
One of the downsides of the Internet is that it allows like-minded people to form communities, and sometimes those communities are stupid.
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07-19-2021, 07:44 AM
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#2733
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Registered User
Join Date: May 2010
Posts: 2,021
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How low do we go today ? Any thoughts??
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07-19-2021, 08:01 AM
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#2734
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Veteran
Join Date: May 2021
Location: NYC
Posts: 1,554
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Quote:
Originally Posted by tbwinner
How low do we go today ? Any thoughts??
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S&P its around the 20 moving average.....40 day is 4260...
lets see.... 
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07-19-2021, 10:09 AM
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#2735
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Veteran
Join Date: May 2021
Location: NYC
Posts: 1,554
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S&P at 50 day avg....
Lets see....
Hovering around 50 day....seems like a wall so far....
Last edited by geroge.burns99; 07-19-2021 at 10:14 AM.
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07-19-2021, 04:00 PM
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#2736
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Registered User
Join Date: Jan 2010
Posts: 2,176
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Bitcoin & GLD
Bitcoin & Cryptos are again flirting with the $30K level. It looks like they're going to close below their 52 Week Average for first time since their meteoric rise. If it drops below 30K in the next couple weeks, I'm looking for a drop all the way to the $12,300 to $12,400+ level, where there's a fair amount of support.
In spite of the big drop in the market today, GLD has held up the best of the metals. I always like to look at companies or commodities that drop slightly or stay even on a big down day. It looks like it may close up $.18 today.
(edit):
I forgot to mention that the Dollar continues to hang tough, in spite of inflation worries on the news non-stop.
__________________
One of the downsides of the Internet is that it allows like-minded people to form communities, and sometimes those communities are stupid.
Last edited by FakeNameChanged; 07-19-2021 at 04:03 PM.
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07-19-2021, 06:45 PM
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#2737
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Veteran
Join Date: May 2021
Location: NYC
Posts: 1,554
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07-19-2021, 07:19 PM
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#2738
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Registered User
Join Date: Jan 2010
Posts: 2,176
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Quote:
Originally Posted by geroge.burns99
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Why hasn't Elon Musk rigged up some of his solar panels and Powerwall(s) to power those miners? I didn't read the whole article, but how do you siphon off electrical power without paying for it?
__________________
One of the downsides of the Internet is that it allows like-minded people to form communities, and sometimes those communities are stupid.
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07-19-2021, 08:59 PM
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#2739
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,626
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Quote:
Originally Posted by FakeNameChanged
Why hasn't Elon Musk rigged up some of his solar panels and Powerwall(s) to power those miners? I didn't read the whole article, but how do you siphon off electrical power without paying for it?
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Easy. Happens all the time.
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07-20-2021, 01:36 AM
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#2740
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,759
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you don't have to steal the energy, you can get a flat-rate plan for $70 per month that sells you all the electricity you need coming from windmills plus you have to pay the grid for delivery.
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07-20-2021, 02:24 AM
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#2741
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,759
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its been over a decade since the nuclear disaster at Fukushima. the price of uranium bottomed at around $18 a pound, now over $30. after the disaster, Japan closed 52 nuclear plants. the same thing happened in Germany.
recently Sprott Asset Management Fund took over the Uranium Participation Fund. the users are the United States. 20% of the grid is fueled with nuclear energy. but China and Russia and building plants left and right now. Uranium use has been projected to grow 3% every year for the next decade.
right now there is an oversupply of uranium meaning the price is cheap. to become profitable to mine, the price needs to double from here.
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07-20-2021, 08:05 AM
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#2742
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Registered User
Join Date: Jan 2010
Posts: 2,176
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Quote:
Originally Posted by PaceAdvantage
Easy. Happens all the time.
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For 1069 miners, each running 220V-15A service? I'm curious, please share.
__________________
One of the downsides of the Internet is that it allows like-minded people to form communities, and sometimes those communities are stupid.
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07-23-2021, 11:06 AM
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#2743
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Registered User
Join Date: May 2010
Posts: 2,021
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Guess we should have bought the dip. 2% move down Monday, now Friday new highs on S&P
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07-23-2021, 12:22 PM
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#2744
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Veteran
Join Date: May 2021
Location: NYC
Posts: 1,554
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Quote:
Originally Posted by tbwinner
Guess we should have bought the dip. 2% move down Monday, now Friday new highs on S&P
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tell me about it 
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07-25-2021, 10:55 PM
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#2745
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Veteran
Join Date: May 2021
Location: NYC
Posts: 1,554
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The Big Boys come out with earnings this week....
With everyone crushing earnings this quarter dont know why Futures are down for tomorrow?
Lets see....
GB
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