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Uh oh, Charles Schwab? I ran a search and saw they were suing BAC, but do you have some more recent information? Wouldn't Merrill Lynch be in more trouble, if BAC failed? I don't think anyone is safe, but I thought Schwab was off to himself and taking care of business.Auole wrote:BKX. 10 yr weekly. and IF this crash which I believe is just a when scenario comes. Where will that leave BAC (Schwabbers be forewarned) ?, Citigroup, even JPM? Just wondering
and it has no trading value.Al_Dente wrote:If you view ALL your major index daily charts over the long term, and use 320sma [courtesy Bernie Schaeffer] and 377sma [courtesy Fibonacci] you may note that the MAs are either crossing or are near to crossing, which is a phenomena that appears only every few years….
$RUT is leading the cross, confirmed by $TRAN and $BKX. The other indices should be monitored, as they are still holding bull, but all are near a cross.
Here is just the $RUT example:
[Caveat: this is intermediate to longer term, and has nothing to do with Monday's trades]
I don't see much upside in Silver, $32 max, downside $8.+,or even lower if one do measured move, longer it takes to finish descending triangle, bigger the drop, first stop should be around $17. If Silver manage to get sideways out of this triangle, that would change everything.Auole wrote:Mozart, seems we're on similar wavelength re: weekly silver. Here's my weekly and just maybe it looks like a rather a possibly favorable time to invest in paper miners. silver only. Gold, on the other hand, is not revealing her hand yet. Hmmm. According to Fri's Harvey Organ's weekly COT report on gold and silver, something does seem to be going on with silver. There is plenty of data there from which he deduces, I quote, "if you are keeping score: 1,963,436.31 oz leaves the customer and enters the dealer. Something is going on in silver with that kind of activity. Also note the large amounts of silver leaving the SLV vaults. (is someone desperate for silver?)" http://harveyorgan.blogspot.com/
Kinda sorta strange that these two would uncouple, anyhows, I'm going to risk going long silver here with SVM and SLW. I remain uncertain yet about CEF - by the way, this and Sprott's PSLV, the only ones with verifiable solid metal backing. Keizei, I'll just ask cuz I am curious - what vehicles do you plan to use for your long?
p.s. Should be interesting if on the daily descending wedge pattern formed since 5 June if she breaks out upwards on this bull run. Any one else seeing this discrepancy/difference in /GC and /SI