63 thoughts on “VERTICAL PHASE

    1. Christian

      And yet within that ‘so called’ trendless consolidation box that spanned several years there were plenty of opportunities to make money both on the Long and on the Short side.

    1. Gary Post author

      This is what I’m talking about. At the recent top bitcoin was 340% above the 200 DMA. Yet investors still expect it to recover and continue making new highs and rocket to the moon.

      This was a perfect case of needing to control greed and pick a spot to exit so you don’t get caught at the top.

      At the very least bitcoin will need to trade sideways for months and months or even a year or more to allow the moving average time to catch up. At worst the bubble has popped and the next leg down is going to drag all the kool aid drinkers into the abyss.

      1. Schinkenbaron

        I respectfully tend to disagree with you on that BTC is already ripe for a sustained downmove/correction right now. For sure it will go down sharply again, just not yet. I know, that’s exactly what you was talking about… again. But if I look at the weekly chart I can see a loooong consolidation phase starting with November 2013 and lasting until the breakout this year in March to Mai. Lots of believers accumulated during this phase for sure and I tend to believe they don’t care about losing even like 70% or so from the recent top an around 5k when they bought in at 2k-ish and wanna see 10k+.

        https://www2.pic-upload.de/img/34011588/btc.png

        Just my two cents and I want to add that I don’t trade BTC. I just bought and will let it lay for a few years and well will see where we stand in like 2020 or 2025.

  1. Steffmeister

    I fully disagree, stocks are heading down from here. Gold is about to rise!

    Shalom Jom Kippur πŸ˜› we are in the ember months, the fall,, time to harvest …

    I am not saying a crash will occur in SM, just a correction.

    A new cycle has started in Gold.

    The vertical phase for SM is not now, maybe later …

    1. Gary Post author

      And like I said, there will be multiple people trying to call the top every other day. That’s what keeps the trend rising. Shorts just have to keep covering over and over.

        1. Gary Post author

          We just had one?? The Russell dropped almost 7% into the ICL in August. The transports dropped almost 8%.

          You want to call another correction right on the heels of the last one?

          1. Steffmeister

            I am not even at the station, there are better trades investments out there. I’m trying to buy cheap and sell higher. I do not consider US stocks cheap …

  2. Jelly Belly

    Hi Gary,
    In the CiovaccoCapital Video (“Chris’s video”) that you linked to above, Chris claims that we just finished a consolidation phase of 21 years in the NASDAQ. He claims that the bull market after a consolidation phase runs much longer than the consolidation phase. In your video you seem to be of the belief that the bull phase will only run 6-8 months. Do you disagree with Chris on this matter?

    1. Gary Post author

      Well the S&P is already 4 1/2 year into its breakout, so I’m not sure the Nasdaq has 20 years of bull market ahead.

      I’m in the camp that says QE will create another huge bubble that will collapse and we’ll have more problems again.

  3. ocram

    Gary,
    let’s say that the nasdaq will reach 15000 and s&p will reach 10000 (I think this is very probable at this time)
    Would you suggest a couple of stocks that will make HUGE gains according to you in this final vertical phase of the bull market? which is your favourite sector?
    I’m asking this because if also I would buy qqq it would “just” merely double from here.
    Pratically any good gold/silver stocks (triumph gold-orca gold-novo-artemis etc…) will make that performance in one week if good results will arrive from the miners.
    Could be qqqx3 a good way to ride the tide or is it too dangerous according to you?

  4. Gary Post author

    I don’t trade individual stocks. They are all susceptible to company specific risk, miners especially. I know one analyst that had his subs heavily into NAK earlier this year. Then out of the blue the thing lost 70% in a matter of two weeks.

    ETF’s only for me. I sleep better at night and I’m perfectly happy to underperform as long as I don’t have to worry about losing 70% because of something I couldn’t anticipate.

    TQQQ, UDOW, UPRO, SOXL, maybe LABU but of course you have to worry about the idiots in Washington doing something that might damage the biotech sector so that one is risky even though it’s an ETF.

  5. Goild

    It is October 1st.

    This month I have one year since I am posting here at SMT. I have benefitted from the posting of many of you and so I am thankful. There has been too, a lot of laugh and good humor.
    I entered the club of the $100K per year or more. Wow!

    Don has not been posting for more than one month. Hopefully he is all well and making big bucks.
    One year ago he welcomed me here, a nice polite gesture of which I am appreciative.
    I learned or gleaned, by example, a very valuable trait from him.
    He would go, one by one at a time, and ask some or many of us about the details of each trading system, and I take it, understand the system and take the best.

    Well, it is Sunday and I will have later a tequila drink to your health guys.

    1. Christian

      GOILD β€” I’m gonna go ahead and say this one more time. Unless you post a SCREENSHOT of your actual winnings demonstrating that you are in fact pulling in that kinda money day after day then frankly, we don’t wanna hear it.. no joke.

  6. Goild

    Christian,

    Even you request does not make a lot of sense. What would you see in a screen screenshot?
    At best the list of orders, right?
    Have ever crossed trough your mind that your disbelief actually is sweet music to my ears, that it is actually complimentary?
    But I will tell you that as a peer here at SMT, whenever you post, I believe in what you say, and that
    I am appreciative of what I can learn from you.

    I posted yesterday around noon gains of $678. You can go ahead and add the trades below and figure it yourself. That I have faked the list below would prove to be ridiculous.

    Instead, I will try to learn from you, it appears to me that you are a competent trader.

    JNUG FILLED AT $18.46 Limit at $18.46 Buy 500 Limit at $18.46 4:00 PM 09:19:31 AM 09/29/2017
    JNUG FILLED AT $18.3499 Market Buy 500 at Market Day 09:31:00 AM 09/29/2017
    JNUG FILLED AT $18.4044 Market Sell 500 at Market Day 09:31:13 AM 09/29/2017
    JNUG FILLED AT $18.35 Market Buy 500 at Market Day 09:31:56 AM 09/29/2017
    JNUG FILLED AT $18.35 Market Sell 500 at Market Day 09:32:26 AM 09/29/2017
    JNUG FILLED AT $18.27 Market Buy 500 at Market Day 09:33:14 AM 09/29/2017
    JNUG FILLED AT $18.2704 Market Buy 1000 at Market Day 09:36:01 AM 09/29/2017
    JNUG FILLED AT $18.2948 Market Sell 1000 at Market Day 09:36:12 AM 09/29/2017
    JNUG FILLED AT $18.382 Market Buy 1000 at Market Day 09:39:17 AM 09/29/2017
    JNUG FILLED AT $18.4148 Market Sell 1000 at Market Day 09:39:44 AM 09/29/2017
    JNUG FILLED AT $18.3404 Market Buy 1000 at Market Day 09:42:04 AM 09/29/2017
    JNUG FILLED AT $18.375 Market Sell 1000 at Market Day 09:42:12 AM 09/29/2017
    JNUG FILLED AT $18.3552 Market Buy 1000 at Market Day 09:46:11 AM 09/29/2017
    JNUG FILLED AT $18.38 Market Sell 1000 at Market Day 09:46:41 AM 09/29/2017
    JNUG FILLED AT $18.16 Market Buy 1000 at Market Day 09:49:32 AM 09/29/2017
    JNUG FILLED AT $18.221 Market Sell 1000 at Market Day 09:49:46 AM 09/29/2017
    JNUG FILLED AT $18.1763 Market Buy 1000 at Market Day 09:50:06 AM 09/29/2017
    JNUG FILLED AT $18.02 Market Buy 1000 at Market Day 09:50:55 AM 09/29/2017
    JNUG FILLED AT $17.9548 Market Sell 1000 at Market Day 09:50:59 AM 09/29/2017
    JNUG FILLED AT $17.9359 Market Buy 1000 at Market Day 09:51:09 AM 09/29/2017
    JNUG FILLED AT $17.9057 Market Buy 1000 at Market Day 09:51:25 AM 09/29/2017
    JNUG FILLED AT $18.0561 Market Sell 1000 at Market Day 09:51:45 AM 09/29/2017
    JNUG FILLED AT $18.0848 Market Sell 1000 at Market Day 09:51:54 AM 09/29/2017
    JNUG FILLED AT $17.9945 Market Buy 1000 at Market Day 09:56:38 AM 09/29/2017
    JNUG FILLED AT $18.0266 Market Sell 1000 at Market Day 09:57:15 AM 09/29/2017
    JNUG FILLED AT $18.0296 Market Buy 1000 at Market Day 10:00:20 AM 09/29/2017
    JNUG FILLED AT $18.12 Market Sell 1000 at Market Day 10:00:30 AM 09/29/2017
    JNUG FILLED AT $18.2048 Market Sell 1000 at Market Day 10:02:07 AM 09/29/2017
    JNUG FILLED AT $18.2688 Market Sell 1000 at Market Day 10:02:32 AM 09/29/2017
    JNUG FILLED AT $18.2343 Market Buy 1000 at Market Day 10:03:38 AM 09/29/2017
    JNUG FILLED AT $18.2588 Market Sell 1000 at Market Day 10:06:03 AM 09/29/2017
    JNUG FILLED AT $18.27 Market Buy 1000 at Market Day 10:06:32 AM 09/29/2017
    JNUG FILLED AT $18.1257 Market Buy 1000 at Market Day 10:09:53 AM 09/29/2017
    JNUG FILLED AT $18.16 Market Sell 1000 at Market Day 10:10:11 AM 09/29/2017
    JNUG FILLED AT $18.2357 Market Buy 1000 at Market Day 10:19:54 AM 09/29/2017
    JNUG FILLED AT $18.2243 Market Sell 1000 at Market Day 10:22:21 AM 09/29/2017
    JNUG FILLED AT $18.29 Market Sell 1000 at Market Day 10:23:23 AM 09/29/2017
    JNUG FILLED AT $18.2957 Market Buy 1000 at Market Day 10:23:38 AM 09/29/2017
    JNUG FILLED AT $18.22 Market Buy 1000 at Market Day 10:25:04 AM 09/29/2017
    JNUG FILLED AT $18.248 Market Sell 1000 at Market Day 10:25:28 AM 09/29/2017
    JNUG FILLED AT $18.3143 Market Sell 1000 at Market Day 10:27:18 AM 09/29/2017
    JNUG FILLED AT $18.2957 Market Buy 1000 at Market Day 10:27:38 AM 09/29/2017
    JNUG FILLED AT $18.3144 Market Sell 1000 at Market Day 10:28:13 AM 09/29/2017
    JNUG FILLED AT $18.3146 Market Buy 1000 at Market Day 10:28:36 AM 09/29/2017
    JNUG FILLED AT $18.33 Market Sell 1000 at Market Day 10:28:51 AM 09/29/2017
    JNUG FILLED AT $18.285 Market Buy 1000 at Market Day 10:29:17 AM 09/29/2017
    JNUG FILLED AT $18.33 Market Sell 1000 at Market Day 10:30:24 AM 09/29/2017
    JNUG FILLED AT $18.2657 Market Buy 1000 at Market Day 10:32:11 AM 09/29/2017
    JNUG FILLED AT $18.29 Market Sell 1000 at Market Day 10:36:50 AM 09/29/2017
    JNUG FILLED AT $18.3193 Market Buy 1000 at Market Day 10:37:17 AM 09/29/2017
    JNUG FILLED AT $18.3446 Market Sell 1000 at Market Day 10:37:30 AM 09/29/2017
    JNUG FILLED AT $18.2814 Market Buy 1000 at Market Day 10:37:50 AM 09/29/2017
    JNUG FILLED AT $18.3443 Market Sell 1000 at Market Day 10:38:15 AM 09/29/2017
    JNUG FILLED AT $18.3161 Market Buy 1000 at Market Day 10:40:18 AM 09/29/2017
    JNUG FILLED AT $18.3143 Market Sell 1000 at Market Day 10:40:24 AM 09/29/2017
    JNUG FILLED AT $18.3057 Market Buy 1000 at Market Day 10:42:19 AM 09/29/2017
    JNUG FILLED AT $18.3237 Market Sell 1000 at Market Day 10:43:12 AM 09/29/2017
    JNUG FILLED AT $18.3497 Market Buy 1000 at Market Day 10:50:41 AM 09/29/2017
    JNUG FILLED AT $18.3248 Market Buy 1000 at Market Day 10:51:09 AM 09/29/2017
    JNUG FILLED AT $18.33 Market Sell 1000 at Market Day 10:52:23 AM 09/29/2017
    JNUG FILLED AT $18.2362 Market Buy 1000 at Market Day 10:53:32 AM 09/29/2017
    JNUG FILLED AT $18.254 Market Sell 1000 at Market Day 10:54:03 AM 09/29/2017
    JNUG FILLED AT $18.2806 Market Sell 1000 at Market Day 10:55:02 AM 09/29/2017
    JNUG FILLED AT $18.296 Market Buy 2000 at Market Day 10:55:42 AM 09/29/2017
    JNUG FILLED AT $18.3444 Market Sell 1000 at Market Day 10:59:43 AM 09/29/2017
    JNUG FILLED AT $18.35 Market Sell 1000 at Market Day 11:00:33 AM 09/29/2017
    JNUG FILLED AT $18.2963 Market Buy 1000 at Market Day 11:06:12 AM 09/29/2017
    JNUG FILLED AT $18.3101 Market Sell 1000 at Market Day 11:06:26 AM 09/29/2017
    JNUG FILLED AT $18.2061 Market Buy 1000 at Market Day 11:15:05 AM 09/29/2017
    JNUG FILLED AT $18.16 Market Buy 1000 at Market Day 11:17:21 AM 09/29/2017
    JNUG FILLED AT $18.1787 Market Sell 1000 at Market Day 11:17:30 AM 09/29/2017
    JNUG FILLED AT $18.1672 Market Buy 1000 at Market Day 11:18:56 AM 09/29/2017
    JNUG FILLED AT $18.19 Market Sell 1000 at Market Day 11:21:12 AM 09/29/2017
    JNUG FILLED AT $18.2043 Market Sell 1000 at Market Day 11:21:51 AM 09/29/2017
    JNUG FILLED AT $18.20 Market Buy 1000 at Market Day 11:22:05 AM 09/29/2017
    JNUG FILLED AT $18.2156 Market Sell 1000 at Market Day 11:23:38 AM 09/29/2017
    JNUG FILLED AT $18.1678 Market Buy 1000 at Market Day 11:23:57 AM 09/29/2017
    JNUG FILLED AT $18.2244 Market Sell 1000 at Market Day 11:24:11 AM 09/29/2017

    1. Christian

      GOILD — Use your brain. Even Nada (and others in the past) have posted a screen shot of their actual winnings. It’s not that hard.

      And by the way.. anyone and their grandmother can write up a bunch of JNUG trades (after the fact) on a blog. Check this out:

      JNUG FILLED AT $18.3011 Market Sell 1000 at Market Day 11:01:12 AM 09/29/2017
      JNUG FILLED AT $18.0201 Market Buy 1000 at Market Day 13:26:23 PM 09/29/2017

      Throw in another dozen or so and —

      Oh my Lord! Winner winner chicken dinner!!

      Do you get it now?? No more Tequila for you my friend.

  7. victor

    Goild, what commission you pay per trade? some of it like 30 -40$ gain.
    I did 239 trades in this quarter and paying 4.99p/trade, so 30$ gain minus 10$ commission doesn’t make much cense to me.
    Also, I’m day trading only with 10-15% of my account just to have some 100-300$ for a day. But keeping long positions for the rest account. Usually 15-20% in cash.
    How you r planning your trades?
    Thanks

  8. Goild

    Victor,

    My commission per order is about $3.99.

    There is no or little planning. I get a feeling for what is likely to happen, but mainly take advantage of high probability candle formations considering the market rhythm.

  9. Goild

    To note that most or all trades above are long, gold/jnug were falling, thus it was difficult to make money going long. When gold/jnug are rising then lunch money comes with less trades.

  10. ocram

    Gary,
    regardind the stock market you’re on the same boat with Martin Armstrong (and a growing number of analysts) πŸ™‚
    Then he is bullish on the dollar for the next two years.
    Gold is not ready for “prime time” yet,it will go up when the dollar will “crack” the system going up.
    Bitcoin will be put under control of the governments.
    https://www.youtube.com/watch?v=wJg_nScNRlM

  11. Strike2

    FWIW Goild,
    Your claimed ultra-short term trading successes never bothered me like some others here. There are only 2 possibilities:
    1) It’s true
    2) You are fabricating it
    Since it is not my trading timeframe, It has no relevance to what I do so I take it without dissecting the details. You are a pleasant non-confrontational poster who talks about trigger trading – not my thing, but I enjoy your posts. But the fact that you go into such detail in your trade summaries seems to lead to the logical conclusion of why not post name-redacted screenshots instead? It would save you a lot of time reporting your trades to us. And it would certainly eliminate #2 above as a possibility. FWIW, I’m rooting for you Goild.

  12. Goild

    Strike2,

    Thanks for your comments.

    If some of you would like to see some screenshots I would be glad to post them.
    Though I need some direction on how to post an image here.
    I do not understand what “post name-redacted” means.
    BTW the list of trades above is easy to post as all what it takes is to export the trades to excel, copy and paste.

  13. Goild

    While I take that making $100K is not easy for the majority, I also realize that some of the posters here have years of trading experience and are very competent.
    Because those competent folks spend many hours here, what should be the pay?

    $50K would be the minimum reasonable, $100K starts to become OK, but for folks having 10 years of experience the pay should be $250K or much more depending on talent.
    Talk to Terryw, he posted $400K, talk to RonL he plays the miners long term and if I remember well was posting above $160K, Kruzoe in a stream of a dozen trades in a couple of months or so is posting around $100k.
    Why minding a barely qualifying $100K?
    I would mind when the number reaches $500K to $1M.
    Then I really would have something going on.
    Working as an ANT is hard work. It is the standard work for those that not have polished talent yet.

    While profit meaning depends on the portfolio size and percentage profit. For those of us here, it makes sense to speak of the $100K club, I like to pay more attention to the winners, it pays to join the winners.
    It pays to pick their brain, attitudes, and why not too their luck!

  14. victor

    Guys, Goild is not fabricating it, there’s no reasons for it. I did myself such frequency trading and it’s not so difficult to get 50$ if you trade involves 15 – 18,000$, just a couple of ticks. Doesn’t matter up or down.
    It required some years of watching how candlestick pattern formation during market open and each minutes/hours thereafter. But if one took a trade and went to drink a coffee – it can face unexpected.

  15. zkotpen

    Goild,

    Thanks for posting your trades. Actually, it’s much more HELPFUL and CONSTRUCTIVE to post them as you do.. please continue. I hope others will {silently} page down thru them if they don’t like them. I {silently} page down thru a lot of posts on here — probably about 60-70% of all posts, to which I am either indifferent, or don’t like. By {silently} paging down, I get on to what I do like.

    But then again, I’m not a “truth-seeker” — never have been. I am FAR more interested in epistemology than ontology, given that humans know FAR less than we think we know. Ontology is almost pointless, if it weren’t so fascinating. So cat and mouse, cops and robbers games are not my concern — though my old profs routinely used the latter in their ugly characterization of decision making process in Economics (the unsavory “prisoner’s dilemma,” they called it, and used that as a model for decision-making of the different players in the economy game).

    So screen shots don’t do me any good, as I’m not investigating the veracity of your claims. Therefore, I find the text more useful, in case I want to copy and paste in order to check some particular set up, something I can learn from.

    So I’m of the same attitude as Strike2, above. I’ll just roll with your text posts — perhaps have a look at a few, which might be difficult to do from a screen shot. I have a hard enough time eye-ball reading text (the good stuff is read to me by the pros — far more effective in getting me into the zone of reading than tiresome eyeball reading).

    Last thing I’m gonna do is try to decipher a low-resolution image of a screen. Such activity would have me straying very far from the task at hand which, for me, is not detective work, perhaps to the chagrin of some πŸ™‚

  16. Goild

    Victor,

    Thank you. Indeed there is no reason.
    Imagine the waste of time and self-deception.
    Hopefully we can, but hardly, team to take advantage of the next leg up in gold.
    I will be there.

  17. zkotpen

    Gary,

    I want to share a positive-spirited suggestion with the group:

    {silently} page down thru posts if you don’t like them. I {silently} page down thru about 60-70% of all posts on here, to which I am either indifferent, or don’t like. By {silently} paging down, I get on to what I do like.

    ***** If you don’t like some post, {silently} page down thru it! πŸ˜‰ *****

  18. zkotpen

    I concur with victor.

    Why not replace incredulity with a “what if?” approach?

    As in,

    What if Goild really is making these trades?

    What does that mean — as in, is there some trading principle I can distill from it?

    I also agree with victor — one minute of distraction will send you into a tailspin, especially in a volatile security. Kinda like, if you got into the boxing ring with Mohammed Ali, and took your eye off the champ to look at some pretty girl whom you thought was smiling at you in the stands… you’d be knocked out cold for a count of 10 (to the fourth power!).

  19. Strike2

    Goild said above, “BTW the list of trades above is easy to post as all what it takes is to export the trades to excel, copy and paste.”
    Good point. I’ll take you at your word, which I was doing anyway. Go for 200K.

  20. zkotpen

    Goild and victor are talking about exactly the type of result I am trying to create with my micro-trades. Even if you don’t have $18k, you can control that much with leverage. But it amounts to the same exact thing: It is the $18k you control that allows you entry into a trade, and you’re trying pick off that $50 here, $50 there, $50, $50, $50… and by the end of the week… you make a living, week in, week out. In other words: Consistency.

    If you look at my recent discussion, I didn’t actually post a trade, but I’ve discussed on, in which I lost $10.36. Had I recovered from that loss more quickly, the same trade (buy USDJPY) would have made me that $50. So I am ironing out the bugs in my mindset, in order to stay focused on the next trade. And that goes for both winning trades and losing trades: Not just getting distracted by going for a cup of coffee at the most inopportune time, but also crying in one’s coffee after a loss, and spilling one’s coffee during some victory celebration.

    The only trade in sight must be the next one, at which I must prepare 100%, in order to get a winner.

  21. zkotpen

    Goild,

    “To note that most or all trades above are long, gold/jnug were falling, thus it was difficult to make money going long. When gold/jnug are rising then lunch money comes with less trades.”

    What do you think the result would be if you lost that directional bias???

    In other words: How would that affect next year’s bottom line?

  22. Goild

    Zkot,

    I am fighting my directional bias for long trades.
    Some days I say you need to balance the trades and go short.

    I am still subject to fear. One plan is to grab $25K more as a cushion and then I would allow myself for more risk and for being more patient.

    But I am planning to be on the next leg up in JNUG with some good thousands of shares as I did in NUGT last December/January.

    I have trading weeds, and goals to take care of.

    Those that know sometimes refer to trading as state of the art living.

    Indeed it can be.

  23. ras

    Bubble phase imminent? May be. SM can do anything anytime. With vix so low it is tough for the market to enter the bubble phase right away. Probably, some kind of minor pullback in October, sharp enough to create a scare. Who knows? The bubble phase can happen in spurts. It may be a bit risky to extrapolate the past into the future. Each market cycle is driven by unique factors. The etf leaders in the recent past are: tna, fas and labu. They are a bit stretched and need some kind of rest/pull back? Soxl , tqqq, udow, spxl were under performers by comparison. Svxy is back to the old high. A pull back to the 200 ma on 1hr chart would be quite normal. Likewise, a spurt in vix to the 14-16 area would be quite normal. We will know soon enough.

  24. zkotpen

    Goild,

    “I am fighting my directional bias for long trades.”

    Sounds like a worthwhile fight. To that end, you may want to answer my question(s) — I believe they will help you visualize the results you want to achieve. Once you see that, then you let your intuition open the path toward that achievement:

    What do you think the result would be if you lost your directional bias?

    How would that affect next year’s bottom line?

    See that result, feel it, then let the answer come to you… πŸ˜‰

      1. Roy Batty

        Premium to NAV with GBTC is 84%. Why would anyone be so foolish as to pay that kind of premium when it’s actually safer to own BTC direct in your own wallet? I guess it’s because 401’s and other regulated investment vehicles won’t accept the real deal.

  25. zkotpen

    This discussion has proved helpful to me. This idea of picking off $50 winners. I would say that putting $10 at risk is like minor leagues, to develop technique and skills and talent. Once I can consistently succeed at that level, then I can move up to putting more on the line, and amplify those results.

    So even if I trade coin flips, and win 50% of the time, every trade would have an average net gain (“Expected Value” in Econ terms) of $20. Would need about 100 of those per week to get to the $100k threshold. And I’m confident I can do better than coin flips.

    I don’t just work with risk:reward. I also work with absolute risk, which, I believe classical traders de-emphasize. If I’m gonna put a certain amount on the line, and my performance record shows, I can jack up the leverage and/or position size until reward:risk reaches 3:1. But it cannot go lower than that — if so, it would be a too risky trade!

  26. JJHarmen

    After being slapped down by Nada and Pedestrian about the my assertion that continuous futures contract charts should not be used for charting (when spot is available). I did some research and found this informative article about the problems of creating continuous charts from futures contracts. Part two explains the issues involved when using algorithms to take out the gaps that occurs when one contract roll over to another. Historical data can be changed every time there is a roll over.
    My whole point is that if spot charts are available, as is the case with gold, why use futures charts for long term charting and have your data points distorted by contango issues? For those who insist on quoting gold futures prices rather than actual spot prices, why are you not doing the same for the S&P? I Have noticed that even Gary uses futures charts for gold. Why is that when trading view offers spot charts?

    Read it if you want, or ignore if you wish.
    https://www.premiumdata.net/support/futurescontinuous.php

  27. Roy Batty

    That’s fine. GBTC has traded at roughly and average 50% premium over NAV for the past year so for the purposes of the burrito bet the real bitcoin price should suffice ;-). There’s another proposed fork coming soon so it should be a wild ride.

  28. zkotpen

    Roy Batty,

    I concur regarding the ETF. Just as TV is the opiate of the masses, the ETF is the opiate of the individual investor/trader. So yes, that makes Bitcoin Investment Trust the trafficker and…

  29. Christian

    Folks, just so we’re clear.. I’m not picking on Goild because I have nothing better to do on Sunday.

    I’ve been in this business long enough to tell you that no one makes that kinda money EVERYDAY of every week on a triple leverage, especially someone who’s still fairly new.

    And as Gary was kind enough to point out the other day: The spread is too wide on those ETFs.

  30. Roy Batty

    zkotpen,

    Yes … the District of Criminals in bed with Wall Sheet. The whole fetid, wretched establishment needs to collapse. I’m hoping blockchain technology will hasten the inevitability of it.

  31. Goild

    Zkot,

    1 What do you think the result would be if you lost your directional bias?
    2 How would that affect next year’s bottom line?

    1. Likely I would be a better day trader.
    2. Here is hard to say.

    Here is a list of trading goals

    1) Avoid losing big money in falling knifes
    2) Let trades work more
    3) Balance shorts and longs
    4) Get into swing trading

  32. Anthonyo

    None of these so-called ANALysts said ZERO about buying Bitcon when it was $1.

    Including the owner of this site!!

    So why should I listen to you NOW?!!

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