Friday, July 18, 2014

I dunno, are these bear pennants?

You tell me:

I dunno, does that look like a bear pennant to you?

Does that look like a bear pennant too?

Or am I just imagining things?

Or were the smackdowns this week meant to draw scary charts, in the same way the late-May smackdowns did? I remember I called bullshit on the late-May action, and I've made a lot of money on that. Is this the same thing?

And has anyone noticed that gold has already touched the bottom of June's big white candle, while silver is still acting quite a bit stronger since the pop? Anything to do with silver being an industrial metal, you think?

And hey, has anyone on Wall Street yet realized how illiquid the gold options market is, even during the US market, by seeing how yesterday's gold price spike on the Ukraine news has slowly dwindled away over the subsequent 24 hours? Has anyone yet learned that the gold options traders are swimming in too small a pool?

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