Stock Market Prediction

[JoeLong]

Originally Posted by FakeNameChanged

Gold appears to be making a base(again)

Good post, got out of GLD about 45 days ago, not the top but close enough for a profit. What would be a good reentry point for you?

[FakeNameChanged]

Originally Posted by JoeLong

Good post, got out of GLD about 45 days ago, not the top but close enough for a profit. What would be a good reentry point for you?

Well, those conditions I mentioned would have to be aligned. Meaning I'd like to see the price above a 21 day moving average, and preferably both the short and long term MACD's positive. And the US Dollar would again be weakening. Of course, the longer it stays in a sideways channel, the lower my entry point would be; right now it's around 169.00.
I just checked my account, and sold my GLD on June 7th, and SLV on June 3rd.

[ReplayRandall]

Since the tanker got stuck back in late march, it's been one delay after another....Finally, a deal has been struck for the release.

YouTube

[FakeNameChanged]

Originally Posted by ReplayRandall

Since the tanker got stuck back in late march, it's been one delay after another....Finally, a deal has been struck for the release.

https://www.youtube.com/watch?v=3l1uPV_Mm80

Is this a trick question? Looks like a container ship. No, it shouldn't affect the market. It appears it may have contributed to slight market correction in March.
Here's the kicker, the Evergreen Marine corp, owner of the ship named Ever Given, is based in Taiwan. So when the ship got grounded(stuck) in the canal, the stock price was around $37 (Taiwan dollar) It's now 217 and went up 10.50 in just the last day. Makes no sense, unless their investors were happy the fine is only a little over half a billion USD.

[summersquall]

Originally Posted by ReplayRandall

Since the tanker got stuck back in late march, it's been one delay after another....Finally, a deal has been struck for the release.

https://www.youtube.com/watch?v=3l1uPV_Mm80

Suez Canal Authority (Egypt) demonstrating just how pertinent remains the old adage possession is 9/10 of the law.

[lamboguy]

Originally Posted by JoeLong

Good post, got out of GLD about 45 days ago, not the top but close enough for a profit. What would be a good reentry point for you?

in 2 weeks, the US government is going to need a raise in the debt ceiling... this is not a layup due to political factors, either way, should be good for precious metals demand.

[FakeNameChanged]

Originally Posted by lamboguy

in 2 weeks, the US government is going to need a raise in the debt ceiling... this is not a layup due to political factors, either way, should be good for precious metals demand.

I'm seeing SLV to be close to a buy point now, and GLD trails with its Relative Strength, but it's also closing in on that point. Usually gold is leading silver, not that it matters.

Bitcoin looks to be mired in the lower 30k's for now. It Relative strength has been below 50 for over two months, and keeps bouncing off that number to the downside.

[lamboguy]

https://finance.yahoo.com/news/mux-c...100000651.html

the way i see this without shareholder compensation is that MUX could be capped @ $2.50 per share...the right thing for the shareholders would be to give them warrants on the new stock. if that doesn't happen, that would constitute a complete screw job to the long-time shareholders. i suspect McEwen will do the right thing.. if he doesn't there will be law suits.


my average cost is $1.67 per share from purchases as high as $6.25 and as low as .75

[lamboguy]

n the interim, we will be investigating ways to make a share distribution to you, MUX shareowners, of a portion of McEwen Mining’s holdings of McEwen Copper in a tax-efficient way," stated Rob McEwen, Chairman and Chief Owner.

[Tape Reader]

Originally Posted by Tape Reader

Bot:.GME210709P200 at 11.73

Out at 12.

[FakeNameChanged]

Originally Posted by FakeNameChanged

Well, those conditions I mentioned would have to be aligned. Meaning I'd like to see the price above a 21 day moving average, and preferably both the short and long term MACD's positive. And the US Dollar would again be weakening. Of course, the longer it stays in a sideways channel, the lower my entry point would be; right now it's around 169.00.
I just checked my account, and sold my GLD on June 7th, and SLV on June 3rd.

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.

[lamboguy]

i don't like tracking the dollar to figure out where gold prices are headed, i generally look at the Japanese yen. the stronger the yen, the stronger gold gets.

[lamboguy]

YouTube

[FakeNameChanged]

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.

The US Dollar weakened slightly today with a bearish engulfing candle if that means anything to anyone. I'm not a candle technician.

GLD showed more confirmation signals today, with a clearcut close above the 21 day Exp. Mov. Average. I also like to see the 8 day EMA cross over the 21 day, and eventually 50 day EMA, but don't need that to get back in. Its relative strength(RSI) is still a shade below the 50 level, I'd prefer it to be above the 50 level, heading up.

SLV had a decent day but still has a ways to go before I would commit. RSI is around 44, so as usual, it's trailing big brother gold.

[lamboguy]

the debt ceiling day is coming, and I suspect that will move gold in a big way. this is only 2 weeks away now. there are plenty of tier 1 miners that have great earning that have been getting crushed for no reason that should explode soon.