Trading the Trend

[ducati916]

Are we about to lose the new daytraders?

Baseball is back with the first official games of the MLB season taking place last night and today. Next week, the NBA is also set to resume its season on Thursday. With the return of the biggest sports leagues, sports betting is also back. As shown in the chart below, Google searches for "sports betting" have surged the past couple of weeks. In fact, it has reached the highest level since New Jersey legalized sports betting in 2018. While that one time spike is likely to subside eventually, it is showing a massive interest/pent up demand for sports betting. Additionally, one factor to note of the data is it is highly seasonal with spikes each year in early September which coincides with the start of the NFL season. Time will tell if COVID shutdowns carry through to the NFL season, disrupting that usual pattern.

jog on
duc

 

[over9k]

I reckon paypal, amazon, apple, ebay, AMD, shopify, UPS, spotify to be the biggest runners.

 

[ducati916]

And Gold

In addition silver is on a bit of a run as well. The general consensus seems to be 'inflation'.

jog on
duc

 

[over9k]

Reference sports:

Baseball was just shut down after two games. Draftkings is down like 8% today on the news.


Reference gold: All I hear on the news is everyone getting jittery about economic recovery not actually happening, that the reopenings haven't reopened **** basically as everyone are voluntarily isolating etc.

Exactly like I said was going to happen.

 

[Chronos-Plutus]

Yeah WA gov.

This is the order for investing in precious metals for me:

1. Purchase actual physical precious metal (Gold, Silver, Platinum) from the Perth Mint. (http://www.perthmintbullion.com/au/default.aspx)

2. Open a precious metal (Gold, Silver, Platinum) account at the Perth Mint to buy or sell precious metals through a precious metal storage account. (https://www.perthmint.com/storage)

3. ETF ASX listed PMGOLD as it is the Perth Mint's direct financial product. (https://www.perthmint.com/storage/perth-mint-gold-asx.html)

Then you can get exposure to equity gold miners through various ETFs like VanEck offer GDX, GDXJ; which are listed on the ASX.

There are also other exchanges around the world to offset sovereign risk to store your precious metals like the Singapore Metals Exchange (https://sgpmx.com/). Or even just to directly trade in the physical metal (https://sgpmx.com/trading/how-it-works) rather than the synthetic ETFs on listed exchanges.

 

[over9k]

Ah yes. PMGOLD on the ASX is AAAU on NYSE. Same product.

 

[Chronos-Plutus]

Ah yes. PMGOLD on the ASX is AAAU on NYSE. Same product.

The really high net-worth individuals, with serious capital, wouldn't bother with ETFs. They would just open up a storage account directly with various mints/exchanges/vault firms like the Perth Mint and/or the Singapore Metals Exchange and/or specialised storage facilities.

 

[ducati916]

So the PMs

As a reference point.

Silver through the first resistance point. Will it continue towards all time highs with gold?

Gold close(er) to a potential inflection point.

Silver miners at extremes currently.

This is the one for PMs. If there is true 'inflation' then the long end will reprice.

Gold miners not as extended as silver miners.

Mr flippe-floppe-flye is onboard!

jog on
duc

 

[ducati916]

US dollar:

All will hinge (gold/silver) on what happens here.

jog on
duc

 

[over9k]

We're going into winter. I think we all know what's going to happen.

 

[Chronos-Plutus]

We're going into winter. I think we all know what's going to happen.

In Australia, we are already in the middle of winter.

 

[over9k]

Yeah but gold's measured in USD?

 

[Smurf1976]

We're going into winter. I think we all know what's going to happen.

You mean the northern hemisphere?

Or you mean winter in terms of something other than weather?

 

[over9k]

Northern hemisphere. Hence me saying over in the gold thread that I reckon this run has months of legs in it yet.

I'm just wondering if silver's going to go to the moon as well.

 

[Chronos-Plutus]

Yeah but gold's measured in USD?

Gold is measured in weight and priced in USD.

 

[Chronos-Plutus]

You mean the northern hemisphere?

Or you mean winter in terms of something other than weather?

I thought it is summer in the northern hemisphere.

Because it is winter in the southern hemisphere.

 

[over9k]

Ok, the price of gold is measured in USD. We both know what was meant.

 

[Chronos-Plutus]

Ok, the price of gold is measured in USD. We both know what was meant.

Actually: in engineering terms; it is measured in Newtons. You need to account for gravity.

Anyway, let's stop derailing Duc's thread.

 

[qldfrog]

Fwiw
I track the usd aud daily
Today was supposed to have seen the USD fall, and a lot but the AUD USD just went from 1.40xx yesterday to 1.399xx
In simpler term, the AUD has fallen in unison?
This trend thread focuses on the US market but as Australian..and Kiwis..we also need to care about our respective currencies moves vs USD
So that relative fall of AUD vs non US was not expected.

 

[qldfrog]

I investigate