NVIDIA building support at a key level before the breakout, was an easy read.
NVIDIA is flirting with the 208.80 level again. $NVDA pic.twitter.com/dpmKjZgIPh
— Veteran Market Timer (@3Xtraders) August 26, 2026
Yesterday's pivot out of Energy (over the past week), and Gold (over the past 2 days) is - in hindsight - absolutely glaring, as NVIDIA ($NVDA) leads the tech heavy $SPX higher - after last night's blow-out earnings. This morning's read in pre-market:
Futures higher lifted by NVIDIA $NVDA (+7%). $SOX (+3%). $NDX futures (+1.12%). #AI #Trade pic.twitter.com/ZLBVuDJGhw
— Veteran Market Timer (@3Xtraders) August 27, 2026
They're also raising money in order to buy the Anthropic IPO - as soon as Sept. What better way to raise cash than to drive worthless sectors into a short squeeze, before dumping them again?
Metals Gold Silver Platinum Copper - spoiler - copper crashing
Gold is set to snap back on tomorrow's Jackson Hole statement. Think of Gold as the scaredy-cat trade for Trump haters. They don't like the Bessent (Treasury), or the Warsh led Fed, SpaceX (for obvious reasons), or INTEL, or anything else being subsidized by the Trump administration. Instead they love gold, as they pray for a weaker dollar, and higher yields.
Gold always rallies on a fed statement - and the charts agree:
1. First screenshot shows gold bouncing out of a downturned wedge, or triangle pattern,
Gold itself trades into a downturned wedge pattern. Prolly bullish st pic.twitter.com/2je0OmDfTB
— Veteran Market Timer (@3Xtraders) August 26, 2026
2. The chart action shows gold quietly consolidating (lower) in a range:
Gold Miners Continue to be Heavily Pumped: You may have seen the following article highlighted in the @3Xtraders timeline:
Gold Sits Near $4,270. The $GDX Gold Miners’ Fund Is Still 22% Below Its Peak, the Catch-Up Trade Hiding in Plain Sight. #GoldBugs #Pumper #Puming $GDXJ $NUGT $GDXU #WallStreet https://t.co/7hA4CaKYGm
— Veteran Market Timer (@3Xtraders) August 26, 2026
That's the same retread (story) they tried to sell retail investors back in July 2025. The idea that gold miners need to play catch up to Gold, because the miners lag... ignoring the fact that a producer isn't a precious metal. It's like comparing apples to apple tree seedlings. A bird in the hand is worth 2 in the bush, and an ounce of gold in your hand is worth 450 shares of $GDX, because it costs a lot of money to get gold out of the ground. Don't count your chickens, before they hatch.😅
The Truth is the gold miners are so thinly traded - even more so than even energy - that manipulating the $GDX, and the $GDXJ is like child's play, for the greedy hedge funds, and publishing shady articles to lure unsuspecting investors into another bad trade, costs little, to nothing.
Newmont $NEM Becomes The One To Watch
$NEM, the world's largest gold mining company, hit a new record high today, despite the gold price needing to rise another 20% to match its record high. This shows investors are finally pricing in sustained higher gold prices and a lasting increase in miners' future earnings.
— Peter Schiff (@PeterSchiff) August 25, 2026
Looks to me like the pump is over, minus another bounce on Warsh's Jackson Hole speech.
P.S. Traders are returning to their desks after the summer break, and it shows: Volume is picking up and that helps make trading more predictable. Pump 'n' dump gold, crypto, and pull the rug on the energy rally - all par for the course. Crypto pumped with Gold miners is the same rotation retread we saw in 2025. Word to the wise.
P.P.S. I'm no longer hiding out in Treasuries, but only because I got bored with such tiny gains.
No comments:
Post a Comment