Random Notes

Notes for the day … not in any particular order.

Lumber futures:   Prices up over 180% in five months.

2020-08-12_11-40-37-notesInterest rates are rising.  10-yr rates up.  Similar set-up as August, 1987?

Frustration with the mindless herd growing.

Biotech testing yesterday’s move lower.

Moderna (MRNA) has formed a wedge and is near a downside breakout.

Drunk and ‘working’ from home.

Internet censorship:  Oppenheimer Ranch Project no longer monetized.

Silver and gold, future test of new lows?  At time stamp 2:58, Sajad hints at same ‘testing the lows’ scenario as was posted with Silver Up, Then Down on July 25th.

 

Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.

Mission Accomplished!

One day after Pump-n-Dump?, MRNA launches above and closes above resistance on record volume of 103-million shares.

Next day, price action closes below resistance and the trap is set.

2020-07-21_9-49-12-MRNA-Daily-3-bar-notesYesterday (Monday) at the open, MRNA gaps lower -7.4% and didn’t look back.  It closed down -12.83%.

Today, another gap lower.  Price action is hovering in what appears to be an attempt to stabilize.  The question is, stabilize for what?

It probably doesn’t matter as the professionals may have finished their directive.

That is:  establish long positions at low prices, generate news events to get the general public excited, continue to foment the price higher, go all out with maximum volume, exit the longs and establish the shorts.  After that, price action takes care of itself.

That’s the way it works 

Anything can happen and even more (bullish) volume can come from somewhere to drive the price to new highs.

With that in mind, there’s a possibility of an underside test of resistance.  Expectations are that such a test (should it occur) will fail and price action continue lower.

It’s likely we’ve seen the top of MRNA.

 

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Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.