I agree i think the big boys are cashing in on tech stocks......

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FishingAndBeer

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27/11/21

10:54

Post #: 57901360
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Originally posted by goldbear77: ↑

Yes its a orrible chart technically in terms of resistances not holding true - reflects whats been driving the derate

But this is a big reason I dont buy big cap PMs as a rule - if PMs get suppressed into a risk off which happens a reasonable amount - they spring back hard after the event. (gold wanted to rise from May but got whacked by bankers in June/July instead of moving up as natural buying pressure wanted)

but during risk offs the index exposures tend to suffer more than small caps

at a point small cap stocks get so cheap they should attract bids that look through macro - much harder to do on bigs

$40m EV isnt quite in the bargain basement zone - but youd think its pretty close if investors see metal markets uptrending after

the aud/usd move is a bit of a worry though. normally that moves up for metals

but personally i think last night was a function of massive long leverage in US - so it just needed a catalyst to unwind

oil, usd, tech/ crypto all massive overboughts

i also dont think it was news to the best informed. elon musk selling 10% of tesla was a warning shot imo

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I agree i think the big boys are cashing in on tech stocks... Elon Musk very craftily got his fans to pick his action so he doesnt look like he flogged off at the top of his own volition.. who's to say a survey cant be manipulated (either literally or through social engineering).. especially when there is big money like that.. he is trying to save face while flogging some of his stock.

XAU/USD v AUD/USD... its spent more time diverging since the end of 2018.

Last edited by FishingAndBeer: 27/11/21

BML Price at posting: 33.0¢ Sentiment: Buy Disclosure: Not Held
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0 Great analysis

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