Is this selloff enough to make the Fed do more?
Ed Moya joins me to share his thoughts on the broad selloff today. We discuss the major drivers that are outside just the spike in virus cases. Also considering if this move down will force the fed to do something sooner rather than later.
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Alex Jones men shot by Kyle Rittenhouse all convicted felons/pedophiles
https://www.youtube.com/watch?v=fK9Azip4pkk
screwtube will definitely take this down
Sell off was just a matter of time,,,,no one should be surprised……
Long term boys,,,,,,,gold going up……..period
I might be a gold tard, and go listen to Temple….. 🙂
Phyz still looking good…….period
Phyz still up for the year bigly…….lol
Platinum,,,,,,,needs to get a life…….
So much for up and away.
The markets are screwed up……..and anything goes……a lot of time left before year end….Gold ….Will be higher is my bet. Silver and Platinum is way behind.
are not is….
Gold sure not going back to $1307…………lol
$1913………not a bad number…..
Chris Temple & Gary Savage amongst others got the sell off right
What was Gary’s number?
I’d disagree, as Gary was about a month too early in expecting the selloff, and there were still good trades to be had. The fact that a correction finally came doesn’t make him right.
Nobody said it was going straight up………
Today was bad but probably not as bad as most think. SILJ made a new 6 week high versus SLV today which is impressive since the silver miners usually provide leverage to silver’s moves to the upside AND the downside.
Since 8/26, SILJ was up as much as 16.5%+ vs SLV today as it hit MA and Bollinger Band resistance. That’s impressive because SLV is down 10% since 8/26. So the miners didn’t merely outperform, they went up when they typically would have gone down.
It would be somewhat surprising if the whole sector doesn’t sell-off further tomorrow but I think this is ending action and not the start of a big, drawn-out move lower.
SILJ:SLV daily:
https://stockcharts.com/h-sc/ui?s=SILJ%3ASLV&p=D&yr=1&mn=0&dy=0&id=p73705609757&a=798299596
I sold no gold/silver related shares today and will probably buy some if they fall hard tomorrow, especially if they gap lower at the open.
Looks like a giant inverted head and shoulders pattern.
IPT hit .76 on 8/26 but only touched .90 today despite the fact that silver went much lower today than it did on 8/26. That’s a good sign even if IPT takes out .90 tomorrow.
https://stockcharts.com/h-sc/ui?s=IPT.V&p=D&yr=1&mn=0&dy=0&id=p62043462136
I noticed that. ISVLF hit a key trendline that was hit back on August 26 also. It will be interesting to see if it the trendline holds.
I have maximum downtrend to be no more than 3 weeks if this is the case. So week of October 16 th would see a bottom. Approximately 10 weeks into this correction. This of course is if we have further to go.
But this week could also see the bottom as Matt has pointed out the miners are not correcting as hard.. let’s see what gives.
Agreed Glenfidish. Opening looks promising.
A lot of my charts are telling me the miners will trade sideways while the physical metals trade lower over the next few weeks, which is consistent with Matthew’s SILV / SLV chart above.
Bam!!! Take that unchosen few. Just another day of paper trading by sucker punch.
In the words of Nancy; the Fed has fired all the good arrows in its quiver.
Those left in its quiver have weak bent shafts or have damaged fletching.