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Hi MFB
look @ the weekly of gold; it may be forming a monster inverse H&S if 875-850 can hold
yeah but did they show you the teleprompter text of obamas speech?
I dont know about the decoupling. all the old rules and formulas have changed. I think you have to judge them separately. my guess is that part of the strong bounce in gold today was short covering because like the dollar it looked like it was going over the cliff. i think it might be early for gold to work as an inflation hedge.
the dollar correction looks like last december for now. should be good for a few days trade. all this printing fake money and non stop spending has to impact it sooner or later.
its only strong relative to even weaker foreign currencies.
dont think the east europe problem will allow more than a pop for the euro
hey, things were boring so I made the mistake of going to the gym; figured the fed action would have little impact; before i left i did buy some UDN; dollar should get creamed
yeah, i dont understand the correlation. I just know I stay away from GLD - dont like the way it trades
us dollar trading with gold??
weekly dollar chart looks like edge of a cliff
euro looking W ish
poss. C&H on GLL
i think he was choking on the dodd amendment that made the subject bonus $ possible
http://www.foxbusiness.com/story/markets/industries/finance/dodd-cracks-aig---time/
USO poking above 50d
yeah, hopefully tomorrow there will be a dip back into the 30s on FAZ (theres a gap @ 61.50); today MS and GS turned red early and that was the tell. in the other corner are the fed banks (LOL) C, BAC and AIG that allowed cheap buying of FAZ late into the day. I was too chicken to buy FAZ calls today in the 35s cause expiration is too close
guess the NY attygen wont be issuing subpeonas to C or Rubin or Franklin or Fannie. I think they plan to drag the new fed
AIG CEO up on the hill though, some time this week which should cause some fireworks
FWIW, FAZ and FAS trade interesting after hours. FAZ is in the 43s right now. they also seem to trade late
wait til they see this - 10.9 trillion as of March 6
http://www.federalbudget.com/
anyone think this will be paid back????
really? every penny? how do you account for fraud? how do you account for madoff? how do you account for assets marked up 10, 20 or 30 times their possible real value? how do you account for California homes selling for millions when a price of a couple hundred thousand is questionable? how do you account for people making 30-40k per year borrowing 600k for a condo worth 200k? how do you account for CMOs repackaged and resold numerous times with constant markups, commissions
and selling costs? much of the world's "wealth" is dust
Hi SO. if you did not notice, that item from the WSJ was co-authored by Doug Schoen. He is a committed liberal and worked
for bill clinton. although WSJ posted it as an "editorial" it was based on scientific data including some from gallup. it is prudent to distinguish between polls that simply test popularity of a person versus their policies. can you imagine if pres. bush was the subject? that article would have run on the front page of NYT, 47 times.
you posted a link for me from 538. nate silver criticizes the WSL but he surprisingly admits up front "I dont know Doug Schoen." 538 purports to specialize in pollster history.
for the record Doug Schoen has been described as one of "the most influential Democratic campaign consultants for thirty years" and he was named pollster of the year for the 1996 clinton campaign. so, I am sorry, but your guy who claims he is in expert in pollsters, but admits he doesn't even know
Doug Schoen, lacks credibility.
I do not agree with Mr. Schoen's politics but I do not dismiss him as a person of accomplishment. he graduated magna cum laude @ harvard, has a harvard law degree and a philosophy doctorate from oxford
SO, there are committed liberals who conclude obama is losing public support. thats all from me on this subject as I do not wish to burden the board with politics
ps nate silver and his partner from 538 both voted for obama
hi gleno guess I am somewhat surprised to see how quickly even partisan liberals are changing their tune and even doing so publicly
actually you dont have to wait until november
http://online.wsj.com/article/SB123690358175013837.html
imagine what they would be if we had an even half ways objective media
curious activity AH in GFI
theres upper gaps @ 5.81 and 899 but GS looks double toppish near 100 and MS is up against 200d; FAZ, if it can hold hi 40s may have C&H on 5 minute
they painted a double top at 27.99/97ish
what recession? back to all time hi s?
possible hammer bottom on CHK
Happy Thanksgiving to all with thoughts and prayers for those suffering in India
WMT broke its triangle today; black friday ahead
yeah its hard to figure metals when asset prices are falling;
I think the USD will test the 50 day soon and maybe 82-80;
the strength in the dollar has allowed the fed to do what they are doing; some might say its been brillantly orchestrated;
I drew my lines wrong; the backtest could float to 87ish;
the weekly still looks relatively strong; I have to remember its not that the dollar is so good its that other currencies are so bad and in this market logic and reasoning dont help much;
although gold was down today, all the metal equities I follow
were green today; friday and monday should be fun with lite volume and holiday trading; theres a 100 pt triangle on gold;
gold equities, recently have been trading with the dow
well not a bundle, but a nice take all the same. your timing
in bringing it to my attention monday nite was nice; picked some up tues morning in the 1.70 -1.65 range (was hoping for a gap fill at 1.48); its showing relative strength as silver doesnt have as much juice; let some go today at 2.30ish; 3.00
looks possible, maybe more;
maybe the dollar will test the 50 day friday or early next week
Happy Thanksgiving to you and thanks for the heads up
that would be nice;
things getting exuberant here; hope they dont pull the rug out friday or monday;
couple of div plays - MRK - 6% and BAC - 8%ish; both ex next wed. i bot this morning on the dip and hope to escape with the div and a small gain; both are also dow components so if the dow
drifts up to 8800ish or so it should help
i dont know about a major bull market but oil and natgas are way oversold and we still have winters; the inventory #s were
encouraging. not sure the move will be explosive because the mo mo hedge funds arent around like they used to be
Ive been buying some USO and UNG and select individual plays
last few days - another plus is possible short term dollar correction
hey choad, thanks for HL
dollar could back test all the way to 86.85ish and still not be repaired; on the other hand the earlier pennant trend shows some support near 84ish; all this bailout money sloshing around has to have some impact eventually
added some 127ish SRS and 68ish FAZ
OT LOL thats my guy; you always know your stuff AJ -
gotta go watch packer /saints
yeah, look at FXC; the aussie may move too; I have some FAX for income (goes ex tomorrow)and maybe a further pop
just saw the HL chart - nice pop; guess it goes back on my screen; ive been playing GG, AUY, FCX, AEM and DGP (GG moved from 19-28); i'm rusty on trading the metals cause I was concentrating on the dollar BO, believe it or not.
we had stifling weather last few months, complete with fires;
oct was over 90 almost every day;
hey wish we had the prices you saw in colorado - i just paid $40 for a turkey; i keep reading about price declines and deals all over the country - but havent seen much here.
:) I waiting for a pullback on more dirt in WY & Montana;
hey choad. happy thanksgiving to you up north. i think one of your storms finally made it down to us. looking out over catalina I could see the rain coming in and a purplish/pink sunset.
our pastor has not taken any salary for some time. he gives away 90% and lives on 10%. he often pays for things @ church.
we have (for our size) a very humble physical plant. much of the church operates in tents.
we had over 4000 attend those various financial workshops
i nibbled some SRS, SDS and FAZ
got 79ish FAZ