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Topic: DOW slingshot (Read 217 times) previous topic - next topic

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  • ken 
  • [*][*][*][*][*]
  • Global Moderator
DOW slingshot
Should see a chance to enter a DOW etf on a slingshot move at some point. What that point is I cannot see at this time.
https://www.investopedia.com/etfs/etfs-track-dow/

Might sound crazy but its not.

Re: DOW slingshot
Reply #1
Should see a chance to enter a DOW etf on a slingshot move at some point. What that point is I cannot see at this time.
https://www.investopedia.com/etfs/etfs-track-dow/

Might sound crazy but its not.
I was thinking of the sling shot possibility this morning and added to my GDXJ at $37.60 and opened a small WPM position at $28.72. They are doing well for now. I feel better about doing the trade with broad based PM shares rather than the general market as PM's have gold and silver backing them in theory and the general market has a lot of mal-investment promulgated by the fed to unwind and that might have a long way to go at this juncture.

  • Nikko
  • [*][*][*][*][*]
Re: DOW slingshot
Reply #2
I have exited a LOT of my Barrick shares over the past 5 days. Basically have about 15% left only which are covered by calls. Also exited all my GDXJ position.
I am playing to caution here and took advantage of the small bounce over the past 5 days.
I have way too much profit to give up and am scared that a repeat of 2008 can happen where miners as well as gold get hit when liquidity is needed. In my personal case Ive played a big leveraged bet with Barrick from 11.50 US dollars and felt it was time to take profits. Also I keep thinking what if the virus hits the big Nevada mine and it needs to be shut down for a month. I will get back into this gem once the dust settles

  • edthelorax
  • [*][*][*][*][*]
  • Administrator
Re: DOW slingshot
Reply #3
I have exited a LOT of my Barrick shares over the past 5 days. Basically have about 15% left only which are covered by calls. Also exited all my GDXJ position.
I am playing to caution here and took advantage of the small bounce over the past 5 days.
I have way too much profit to give up and am scared that a repeat of 2008 can happen where miners as well as gold get hit when liquidity is needed. In my personal case Ive played a big leveraged bet with Barrick from 11.50 US dollars and felt it was time to take profits. Also I keep thinking what if the virus hits the big Nevada mine and it needs to be shut down for a month. I will get back into this gem once the dust settles
This is exactly what I think too. Not that often we agree that decisively.
Like I said in earlier posts im mostly cash and inverse ETN's
I think the one in a million chart gives hints as to where bottom may be. At least maybe a range.
For Entertainment Purposes Only.

Re: DOW slingshot
Reply #4
Comparison of GDX during the 2008 swoon and current situation:

2008



Current chart


  • ken 
  • [*][*][*][*][*]
  • Global Moderator
Re: DOW slingshot
Reply #5
I see with the DOW down even DUST seems sluggish. Confidence in the markets has been shaken.

  • edthelorax
  • [*][*][*][*][*]
  • Administrator
Re: DOW slingshot
Reply #6
Looks like today is that slingshot day.
Futures limit up as the FED announced injections of over a trillion dollars yesterday.
A trillion here and a trillion there, pretty soon your talking real money.
For Entertainment Purposes Only.

Re: DOW slingshot
Reply #7
Looks like today is that slingshot day.
Futures limit up as the FED announced injections of over a trillion dollars yesterday.
A trillion here and a trillion there, pretty soon your talking real money.
Quoting Barry Goldwater times a thousand! Thing is, it is wealth that is needed, not money to support our standard of living. Printing only transfers wealth from dollar denominated assets to the recipients of the newly printed dollars so the lost wealth represented by the transfer is not available for stimulus. At best, it balances but also concentrates wealth in the hands of the already rich. I briefly went through the democrat 'stimulus' package and it only exacerbates the wealth drain going on now by increasing the size of government that is a drain on the economy. Trump wanting to cut all SS contributions through the end of the year is basically undermining SS. Yes, SS has a surplus at the moment, but that surplus is like paper gold, it flat out is not there, it is only an accounting entry. It has been lent to other government spending accounts. SS is basically a Ponzie scheme depending on current suckers, oops contributors, to fund current payouts. Because the FICA contribution is extremely regressive, it will benefit the least wealthy the most, but the bulk of the funds will go into hands least likely to invest in profit generating ventures.

I mentioned above the concentration of wealth via the Fed and government stimulus programs, it is a very big flaw. What if the wealth stolen by the fed with their injection yesterday was in the hands of many rather than a few connected entities? The wealth represent by the trillion dollars is difficult to deploy efficiently when concentrated in very large buckets, but if left in the hands of many, it can go to many small ventures effectively as it would be managed by many, not a few.

  • ken 
  • [*][*][*][*][*]
  • Global Moderator
Re: DOW slingshot
Reply #8
Looks like today is that slingshot day.
Futures limit up as the FED announced injections of over a trillion dollars yesterday.
A trillion here and a trillion there, pretty soon your talking real money.
I believe today is a break from a further fall to come next week. It will take a month from now for people to regain confidence.
Of course I believe this virus horse shit is meant to fold the economy to screw over Trump. All at the price of the people who support these dirt-bag politicians who are behind so many evils.

  • ken 
  • [*][*][*][*][*]
  • Global Moderator
Re: DOW slingshot
Reply #9
Look at JNUG. Holy shit!

  • edthelorax
  • [*][*][*][*][*]
  • Administrator
Re: DOW slingshot
Reply #10
My Lorax senses are tingling. I get the feeling of a bounce in the stock market. it hit a target, A break of that will confirm for a lot of shorts. The perfect time to find a hidden trendline and have a covering rally with margin calls for the ones being cocky.
Just a random thought.
For Entertainment Purposes Only.

  • edthelorax
  • [*][*][*][*][*]
  • Administrator
Re: DOW slingshot
Reply #11
My Lorax senses are tingling. I get the feeling of a bounce in the stock market. it hit a target, A break of that will confirm for a lot of shorts. The perfect time to find a hidden trendline and have a covering rally with margin calls for the ones being cocky.
Just a random thought.

For Entertainment Purposes Only.

Re: DOW slingshot
Reply #12
And a hearty pat on the back for a good forecast

  • edthelorax
  • [*][*][*][*][*]
  • Administrator
Re: DOW slingshot
Reply #13
look for one of these in red for the top. Make no mistake, those in in the know are selling into this.

For Entertainment Purposes Only.

  • Nikko
  • [*][*][*][*][*]
Re: DOW slingshot
Reply #14
Hi guys, I had to post here a final time.
IMO its unbelievable that the market is running again. Take this opportunity and sell if you still own anything besides gold.
I actually shorted GDXJ, GOLD and NEM today as even see miners taking one more bath. BUT, I have shorted APPL and a few of the Canadian banks again as well as TSLA.
Unbelievable that US had a 1 month head start on China and has now surpassed them in cases. The rate is doubling every few days.
Up to a few days ago people in Florida were partying there asses off. WTF is wrong with the people running the country to allow this?
Stay safe folks..keep your shoes outside after walks...dont walk your dogs as they can step in something and bring it in. Stay safe.