If you are buying here then you are being set up. Trust me the smart folks are selling not buying. The higher this squeeze goes the worse the hangover. I am not sweating at all. In fact I love this action. I will be adding more in size. You have been warned. Will it top today? Maybe but we are close and when we roll it will be quick and brutal. More later.
In case you were wondering who the Boyz are they are our good friends on Wall Street that can manipulate the short term but not the long term. Who is buying all those OEX puts? Hmmm.
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Blue,
You already monitor this, but I’ve been seeing some good Put sweeps in size on indices and also some UUP and other dollar related Call sweeps. Like you pointed out, its a great indicator that big boys are positioning. Thanks as always for the post.
Would that go for pm miners as well?
i.e. don’t buy today
Rouge wave,
PM miners are bottoming but they are stocks. I am torn here.
The low in PM stocks is in. Very few know it, nobody believes it. I’m buying en masse. This is the low folks!
Blue,
I’m long $SPXU from $39.28, as I’ve turned bearish for the near term. Would you feel comfortable holding or should I cut?
Frank The Farmer,
Thank you. To all who care: when Frank the Farmer speaks you should listen.
Noni,
I am biased. I am up to my eyeballs short.
Frank, you from Belgium by any chance? What vehicles are you playing the PM stocks? NUGT?
The last 2 weeks are nothing but an escalator to the top of a very steep cliff. When you step off the escalator there is nothing but air. To think, all you really wanted to do was grab a double chocolate pumpkin spice frapulatte before heading over to the Gap and instead you get a murderous drop to a bed of jagged rocks. Sad really.
I must say the bears seem far more confident/arrogant than the bulls these days … therefore, more up may be in store solely from a sentiment perspective
gg
am trying the refined latte trade in late oct calls of PSX SBUX, while keeping a real state of mind with PHM sep25 puts. -ready for the jawboning.
Frank the Famer (or anyone else that knows),
What is the tell that PM miners have bottomed? In other words, what factors make you confident the low is in? I purchased PM miners from from much higher prices and as you can imagine have learned a lot along the way from my mistakes; but learning to recognize a bottom is the one lesson I really want to take away here. I admit it feels like a bottom based on the way it keeps bouncing around these levels in spite of a supposed rate hike, but I have no way of quantifying that feeling and I’m obviously biased. If you are willing to share, I am super interested in learning what you see here. Thanks for any input.
Time and price squared
44 cycle low @ 4th seal support
Price recognotion @ 0.89 retracement
I’m sure you don’t understand just like me 5 years ago but trust me, this is the mother of all buy opportunities.
Get your courage together and push the buy button ASAP
PS. I’m not sure gold itself made it’s low yet. That is probably for next year
Are we talking about this 4th seal?
When the Lamb broke the fourth seal, I heard the voice of the fourth living creature saying, “Come.” 8I looked, and behold, an ashen horse; and he who sat on it had the name Death; and Hades was following with him. Authority was given to them over a fourth of the earth, to kill with sword and with famine and with pestilence and by the wild beasts of the earth.
Thanks Frank,
I don’t understand, but I will certainly add based upon my bias, Thanks for the reply. Knowing what you know now, is there any reading you would point yourself (from 5 years ago) toward? thanks again.
Billie_Jones,
IMO the waterfall selling on the Friday/Monday back in August was a big tell. That was the last of the weak-handed sellers getting out in panic at the worst possible time.
Well done on holding your nerve and sticking with it, been a tough few years indeed, but I am buying some juniors through this dip, hoping to bag a few 10x and 20x stocks. (Brent Cook tips mostly).
Is that verse from Revelations 9:23?
Yes…9…2…3
You sinners who do not worship at the foot of the Daniel Code will be purified. You have been warned. Drops mic.
Boyz did set a trap. A bear trap hardly any were allowed to profit on 8/24. Good job getting them to chase, boyz.
Frank the Farmer,
Incredible call on the Miners. My sincere thanks for sharing your analysis. Do you think we’ve seen THE low in PM miners? or is this a short-intermediate term call? Thanks again for the great work.