Staying busy livin'
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Hey, they're COMMITTED to stemming the bleeding in the stock market. They've already put $2 Trillion into it and they're meeting on the next $150 billion dollar "stimulus package" today.
The US, Europe and the rest of the world are headed for a DEEP recession and they're going to have to KEEP PRINTING MONEY for god knows how long to prevent a real DEPRESSION.
Physical gold is in SUPER SHORT SUPPLY, interest rate cuts make money easier...
IT'S A PERFECT STORM.
IT SUCKS cuz our dollars are going to be worth less though. The only way to hedge it at this point that I can see is commodities, and gold will be the ultimate commodity imo.
That's why I'm going heavy on the GDX miners. They've been beaten up WAY MORE than physical gold even, and their product will be in such demand as to make your head spin.
I do think the dollar is going to jump around a lot for a while because it's gapped up and down so many times that Forex traders will be playing it wildly for awhile, but the trend is now down as it's finally rolled over from that parabolic spike.
McGRANDPA's choice of Palin for VP was irresponsible, dangerous and an insult to Americans. By that choice and his continuing evil he's proving he'll do anything to win this election even to the point of endangering his own country. DEFEAT HIM!
GDX DAILY/WEEKLY
The last peak in gold in the 1980's was about $2200 in "today's dollars", and I use that phrase lightly since "today's dollars" are worth a TON MORE than "tomorrow's dollars".
The fed is lowering interest rates, possibly to ZERO %. This makes even the newly printed dollars "easier money". Couple this with the all printing presses running night and day and more coming soon, the next bubble will be in gold. I'm now a total believer.
Hang in there. It's comin'!
Oh man. I can see the WHOLE ENCHILADA now! Can you see it?
The next words you'll start to hear is STAGFLATION. The one you'll hear right after that is GOLD BUBBLE.
It's all the interplay between the dollar, interest rates and liquidity now, and they're all heading our way.
Expect a few bumps along the way, but they'll likely be relatively small bumps on an otherwise straight path.
The USD fell to fill the gap created yesterday. I expect it to open very near todays close tomorrow and then resume it's rise. The DOW will fall back again as the dollar rises.
http://www.marketwatch.com/tools/quotes/intchart.asp?submitted=true&intflavor=advanced&symb=DXY&origurl=%2Ftools%2Fquotes%2Fintchart.asp&time=4&freq=1&startdate=&enddate=&hiddenTrue=&comp=Enter+Symbol%28s%29%3A&compidx=aaaaa%7E0&compind=aaaaa%7E0&uf=7168&ma=2&maval=50&lf=1&lf2=4&lf3=0&type=2&size=1&optstyle=1013
JMHO of course!
Naptime...latah
McGRANDPA's choice of Palin for VP was irresponsible, dangerous and an insult to Americans. By that choice and his continuing evil he's proving he'll do anything to win this election even to the point of endangering his own country. DEFEAT HIM!
I feel your pain. Been there done that plenty of times myself.
I'm loving these trailing stops though, just as long as i buy at the right moment and get some upside cushion to use to play the stop.
So far so good. Made some on the last big trade a week or so ago and at least broke even this time.
Consumer confidence number came out and it's abysmal of course. T-bills still trading at crisis-mode levels as the flight to safety in the US Treasury notes continues.
LIBOR down slightly...???
A little different pattern so far in the DOW...instead of opening lower and teasing the break even line, today it opened higher and is teasing the break even line.
It's very early to put much stock in that, but that COULD BE an interesting clue to the hyper vigilant such as you and I. Especially in the face of a bad consumer confidence number.
Slowly the screw turns. Still lots of negative stuff to come out...jobs, retail holiday sales, you name it. Too early to do anything but short term trades I guess.
I was really hoping I'd made my first long term buy with the GDX. Oh well. Maybe next time.
McGRANDPA's choice of Palin for VP was irresponsible, dangerous and an insult to Americans. By that choice and his continuing evil he's proving he'll do anything to win this election even to the point of endangering his own country. DEFEAT HIM!
Damn! I got stopped out at break even on my GDX after being up over 7%...GRRRRRRRR!
That bounce did show that the cracks in the dollar are beginning to appear though I believe.
Shouldn't be long now...
Have you seen this site/chart? You can get real time quotes on the USD. Only place I've ever found that can do that. Also allows comparison charts/advanced charts/etc.
http://www.marketwatch.com/tools/quotes/intchart.asp?submitted=true&intflavor=advanced&symb=DXY&origurl=%2Ftools%2Fquotes%2Fintchart.asp&time=8&freq=1&startdate=&enddate=&hiddenTrue=&comp=GDX%2C+SLV%2CGLD&compidx=aaaaa%7E0&compind=aaaaa%7E0&uf=7168&ma=1&maval=50&lf=1&lf2=4&lf3=0&type=2&size=1&optstyle=1013
McGRANDPA's choice of Palin for VP was irresponsible, dangerous and an insult to Americans. By that choice and his continuing evil he's proving he'll do anything to win this election even to the point of endangering his own country. DEFEAT HIM!
Sounds to me like the USD foundations are beginning to crack. Not crumbling yet, but the cracks are undeniable and are sure to widen with every little quake.
CURRENCIES
Dollar mixed as equities rise
By William L. Watts, MarketWatch
Last update: 8:01 a.m. EDT Oct. 28, 2008LONDON (MarketWatch) - The U.S. dollar was mixed against major counterparts, notching gains against a broadly weaker yen but losing ground against the recently battered euro as safe-haven flows eased.
Equity markets rebounded sharply in Asia Tuesday. See full story.
Europe also moved to reclaim some lost ground following Monday's rout. See Europe Markets.
"The rise of more than 6% [by] Japanese equities helped to weaken the yen," wrote Marcus Hettinger, currency strategist at Credit Suisse in Zurich, in a research note.
However, the major topics driving foreign exchange action in recent days, including de-leveraging and flight-to-quality flows "are likely to continue in comings days which is why we see continued upside" for the yen, Swiss franc and U.S. dollar, he said.
The dollar index (DXY:US Dollar Index Future - Spot Price
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DXY 87.05, +0.12, +0.1%) , a measure of the greenback against a trade-weighted basket of six currencies, traded at 87.245, up from 87.185 in North American trade late Monday.
The dollar rose to 94.48 yen in recent action, up from 92.57. The yen hit a 13-year high against the dollar at one point Friday and posted gains Monday despite a weekend warning from Group of Seven finance ministers and central bankers against "excessive" yen volatility. See full story.
Subsequent remarks by French Finance Minister Christine Lagarde on Monday, however, put a damper on the potential for coordinated intervention. In a television interview, Lagarde indicated there was little appetite for a coordinated move, but said the G7 would back efforts by Japan to arrest the yen's rise.
"What at first sight appeared to be a signal that the monetary authorities were prepared to take multilateral action to dampen volatility in the currency markets, now looks rather more like a signal that the Japanese will have to go it alone in attempting to stymie further yen strength," wrote currency strategists at Bank of New York Mellon. "No doubt the markets will be taking careful note."
The yen has rallied sharply in recent months, boosted by unwinding of once-popular carry trades and causing pain for Japanese exporters.
The euro rose to $1.2501 against the dollar, up from $1.2452 late Monday. The single currency notched a new two-and-half-year low against the dollar below $1.2400 in Asian trade before rebounding.
Worries about the exposure of euro-zone banks to troubled Central and Eastern European economies is likely to continue casting a cloud over the euro, Hettinger said.
"Euro sentiment was already very negative and recent developments certainly didn't change that," wrote strategists at KBC Bank in Brussels. "On the other hand, the euro had a battering and dropped already from $1.60 to below $1.24, in a span of only three months, a breathtaking pace"
The British pound rose to $1.5713 against the dollar from $1.5518 late Monday. The currency tumbled sharply last week after economic data continued to point to a potentially deep recession. The euro had traded near the $2 level as recently as August.
The Confederation of British Industry's monthly distributive trades survey on Tuesday showed sales volumes at U.K. retailers remained weak but held up better than expected in October.
Fifty percent of retailers said that sales volume in the first half of October was below the level seen in the same period last year, while 23% said it was up, for a balance of -27.
The balance was unchanged from September. The index was expected to weaken to around -35, according to a survey of economists.
Meanwhile, the Bank of England's twice-yearly financial stability report held out hope that recent moves to steady the British and world banking systems would bear fruit. But the report warned that significant threats to stability remained. See full story.
McGRANDPA's choice of Palin for VP was irresponsible, dangerous and an insult to Americans. By that choice and his continuing evil he's proving he'll do anything to win this election even to the point of endangering his own country. DEFEAT HIM!
Well, the RSI still has some more it could give up. The chart looks like one of the many road-kill pinksheets I've had the displeasure to come across 'oer oh these many years.
No signs of life in that chart that I can see.
As for not wanting to give up any money "earned" to those less fortunate...I never saw the logic or merit in those making $250k-/$100 Billion in "passive income"(ie dividends or capital gains "earned" by sitting on their butts in a golf cart) taxed at a lower rate than their gardener and secretary have to pay in income/payroll taxes.
"Redistibution of wealth" goes both ways and has been done through the tax structure from day one. And it's gone from the worker class to the wealthy through the tax structure for long enough.
"Socialism" isn't only when the money goes down. Thats just a one-sided and convenient construct of the right wing and wealthy.
Besides...give a multi millionaire a tax cut and it doesn't automatically go into some "productive investment". Shorting stocks through a hedge fund isn't productive and adding it to big pile of money already held that's so big it can never all be spent isn't either.
Give it to a middle class person and it'll go back into the economy very quickly which will support that fat cat's business allowing him to hire more workers. And maybe "Joe Middleclass" would like to start a plumbing business. He could use a little extra to help him get his entrpreneurial idea off the ground. Heck, he might even hire somebody to help him.
We're all sick of getting "trickled down" on. It rarely seems to show up at all and when it does it smells more like ransid piss than anything else.
:)
McGRANDPA's choice of Palin for VP was irresponsible, dangerous and an insult to Americans. By that choice and his continuing evil he's proving he'll do anything to win this election even to the point of endangering his own country. DEFEAT HIM!
Other than the idiotic statement...
"Throw on top of all this the possibility of a socialist hitting the White House with an agenda of 'spreading the wealth around' and that means more inflation. 'Spreading the wealth around' has been an economic disaster throughout the annals of history as it diverts money from productive assets to non-productive assets. One has only to look at the productivity decline of the Venezeulan and Mexican oil industries to see the latest prime examples of this ill-guided policy",
I agree with the premise. But what giving the middle class a tax cut has to do with Venezuelan or Mexican oil industries is purely a twisted figment of this guys' right-wing imagination. We can discuss why if you'd like, but that's a whole different conversation.
I actually bought at "market on close" a small opening position in the GDX gold mining ETF for EXACTLY the reasons mentioned in this article(sans the political delusions of course. LOL)
Finally read the article you posted. LOL
Thankfully it confirms most if not all that I just said and makes me feel even more confident in the scenario that I painted.
One of the best things I've discovered is that by following gold/silver so closely I think we've tapped into the most important factors governing the market in general and gives us an understandable framework and gauges to successfully predict what's going to happen with plenty of great clues to follow in order to stay ahead of the curve.
The only thing that really gets in the way is the manipulation of paper silver and gold which acts as a confounding factor that can be a bit confusing.
But as long as we're aware of that potential I think we still navigate this period just fine and will in the end make some great coin when all is said and done.
One more thought...
Oil is the key to prices in commodities and cosumer goods. So...
I think the price of oil, when it bottoms and or begins to move up will be ANOTHER HUGE CLUE to the inflation question. Maybe even more than the LIBOR/LIQUIDITY effect, but they're both key clues to the beginning of inflation/end of deflation one way or the other.
The third important clue will be the market and probably the DOW INDUSTRIALS more than any other stocks. Until they stabilize, consumer prices will continue to slide and could cause deflation to persist.
The USD is WAY OVERBOUGHT already, and when it turns over it'll likely be as violently to the downside as it's been to the upside.
That's when inflation and consequently gold/silver will come into play.
It can't be too long off at this point. I'm thinking a matter of a few weeks tops(Nov 15) to a few days as capital moves to the banks and liquidity really hits the street.
Just had an interesting thought.... What do you think?
Here it is...
Since Gold is the most commonly thought of precious metal as a hedge against inflation and more so than silver...
Will gold be the first to bounce because...(here it comes)...
Inflation will become a factor when capital now going into the system actually BECOMES LIQUIDITY which is going to happen long before the recession ends, AND...
Silver will follow somewhat later because...it's an industrial commodity and the SECOND MOST COMMONLY thought of hedge against inflation and also will naturally want to revert to the gold/silver ratio mean as well as respond to a newly growing economy as an industrial commodity.
My plan...right now cash is king as the dollar rises. When it begins to roll over and inflation becomes a factor that's when you'll want to move into gold.
Then, after gold has appreciated to what is predicted to be over $1500+++ and the market/economy begins to turn up move that money into silver to capture the gold/silver ratio and the industrial commodity move upward.
If I'm right, you'll be able to parlay your gold gains with silver and do much better overall and in the longer run.
Also, I think the LIBOR RATES will be the best clue as capital becomes liquidity so watch them. They've already begun to move down but have flattened for the moment. However, TODAY the capital is finally being moved to the banks so it's begun.
McGRANDPA's choice of Palin for VP was irresponsible, dangerous and an insult to Americans. By that choice and his continuing evil he's proving he'll do anything to win this election even to the point of endangering his own country. DEFEAT HIM!
Lots happening this week...
First capital moving to the banks today...
Fed meeting considering dropping interest rates down to 0% or very close...
Jobs report...
LIBOR is flattening out/dropping much slower than it was last week(s)...
Here's something interesting concerning hedge funds...Since they have to report within 2 days now, hedgefunds who know other hedgefunds are in trouble are now TARGETING THEIR HOLDINGS/STOCKS and SHORTING THEM.
Deleveraging is far from over, and Nov 15 is the next big redemtion payback day for those who want out.
Good conversation on CNBC this morning..."When new injected capital FINALLY turns into Liquidity(lent out), inflation will begin to be a factor.
$USD ULTRA LONGTERM WEEKLY
McGRANDPA's choice of Palin for VP was irresponsible, dangerous and an insult to Americans. By that choice and his continuing evil he's proving he'll do anything to win this election even to the point of endangering his own country. DEFEAT HIM!
SPY ULTRA LONGTERM MONTHLY
Correction: that was the 27th day of the 9th lunar cycle. It's from the WSJ article published recently is what they said.
This "day" has marked the bottom of SEVERAL MAJOR BOTTOMS including the Great Depression bottom!
It all seems to be coming together from all angles, including the astrological!
:D
I like Art too. In fact it's his observations on what a "normal" capitulation selloff looks like and is exactly what I've been waiting to see but it may or may not play out exactly like that this time. This is such a unique situation.
Like MANY OTHERS, I was pretty sure it was going to happen this morning, and IT MAY YET HAPPEN today nearer the close or even next week.
Santelli said something this morning that sounded really bad. Namely, that the "funny money" style of the market started just after 9/11, and I took that to mean that the unwinding of all this leverage will have to return to those "truly normal" levels before there's any chance of beginning to rebuild the "true growth" in this market.
I don't know if I'm getting psychic about all this or really beginning to understand the macro factors involved here, but it was much earlier this morning as I was listening and watching the overseas markets that the very same thought occured to me as well.
I then thought that if you take the levels of the market(s) back at pre-911 and then extrapolate a "normal" growth curve up through today's market you'd end up with a pretty good idea of where "true fair value" might reside.
Now if you look at the chart below you'll see that we're already below that level! This is very encouraging!
ALSO...notice that we're approaching the 7500 level FOR THE THIRD TIME. This leads me to the following conclusions...
With all that's been done by the Fed and worldwide, that's about to come online, we may well be testing the 7500 level withing hours or days and it'll hold.(These things will begin to come online in a big way over the next 2 weeks!)
So I can now imagine a HEAD AND SHOULDERS formation with 7500 being the neckline/support, and then a right shoulder forming that will, depending on what fundamentals are in place at the time, will either peak below/even with/or above the left shoulder's peak. This takes us back up a nice amount no matter what happens.
Conclusions: We'll retest 7500 or there abouts. If it holds(and I think it probably will), look for the pattern I just mentioned with a VERY NICE extended rebound in stocks with resistance levels around 10,000/then 12,000/and finally 14,000.
Art's been quoted saying that Monday is the 28TH day of the seventh lunar cycle??? and that that'll be the capitulation bottom. GET READY STARBOY! LOL
McGRANDPA's choice of Palin for VP was irresponsible, dangerous and an insult to Americans. By that choice and his continuing evil he's proving he'll do anything to win this election even to the point of endangering his own country. DEFEAT HIM!
I think the real problem for silver/gold now is that the USD is screaming up...it's only relative to other world currencies but it's STILL THE SAFE PLACE TO BE...relatively speaking again.
World currencies are crashing all around us.
The dollar chart is almost parabolic at this point and it'll turn around somewhere. What will turn it and when is what I'm trying to figure out.
Gold and silver are actually up right now. Hmmmmmm???? LOL
NTRI is up too by the way. It's the only stock I'm watching that's in positive territory today. Hmmmmm???? LOL
Don't forget that this is Friday, and I think the close will be very telling. Not sure how many want to hold over the weekend.
McGRANDPA's choice of Palin for VP was irresponsible, dangerous and an insult to Americans. By that choice and his continuing evil he's proving he'll do anything to win this election even to the point of endangering his own country. DEFEAT HIM!
USD/SILVER LONGTERM WEEKLY COMPARISONS
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USD
SILVER
McGRANDPA's choice of Palin for VP was irresponsible, dangerous and an insult to Americans. By that choice and his continuing evil he's proving he'll do anything to win this election even to the point of endangering his own country. DEFEAT HIM!
HOOOOOOOOOOooooooo Weeeeeeeee Doggies! What a day THIS is gonna' be!
SnP futures are LIMIT DOWN, Dow futures LIMIT DOWN!
Markets around the world off HUGE!
The bottom is falling out NOW.
Enjoy, and GOOD LUCK!
And remember this is Friday when you're trading.
McGRANDPA's choice of Palin for VP was irresponsible, dangerous and an insult to Americans. By that choice and his continuing evil he's proving he'll do anything to win this election even to the point of endangering his own country. DEFEAT HIM!
Nutrisystems delivery is free/included in the price. And a months worth is about $260 bucks I believe.
And now they even have an introductory deal where you can get an extra 3 weeks worth for free. Not sure what the terms would be for that though. Probably have to sign up for minimum term or something.
Pretty cheap for a ready made, pre-packaged long term storage, balanced diet emergency food stash.
LOL...John Snow is the only one that's being honest imo. He stated it simply...that the govt needed more authority(ie regulatory power)over what they're calling the completely OPAQUE "shadow market" of hedgefunds and their Credit Default Swap scheme and massive leveraging.
I doubt the Fed/SEC/Treasury would have allowed the over-leveraging to take place if they'd been aware of what was going on. At least I'd like to think they wouldn't have anyway.
But on the other hand, the SEC at least had powers that they just didn't exercise responsibly. Like letting the naked shorting take place rampantly.
I think Cox should be jailed for incompetence and collusion, and the rating agencies' executives should be jailed for graft, collusion and fraud, and the hedgefund execs should be jailed for dreaming this crap up in the first place. LOL
McGRANDPA's choice of Palin for VP was irresponsible, dangerous and an insult to Americans. By that choice and his continuing evil he's proving he'll do anything to win this election even to the point of endangering his own country. DEFEAT HIM!
One other important thing I heard an intelligent person say yesterday.
Steve Liesman said "Right now there's 2 kinds of hedgefunds. Those forced to sell because of redemptions, and those that WILL BE selling because of redemptions."
I'm expecting the bottom to fall out VERY SOON, and it'll come most likely when the Dow breaks the last bottom close just over 8000 on that day when the intraday low was around 7750ish.
That will, IMO, be the final CAPITULATION SELLOFF and will signal not only the NEARING OF THE BOTTOM(no big immediate rebound however) in the market but also the turn in the silver/dollar/inflation scenario that we've been talking about and when we want to get more aggressive in our buying of silver.
I'm going to have as much dry powder on hand in the next 1-2 weeks as I possibly can and watch/listen carefully for the signals of the BIG TURN that appears to be coming soon.
On the monthly chart I saw, the turn looked sharper than it will on a weekly or daily chart, so I expect to have plenty of time to make the move when it comes, and it'll almost certainly be a tentative and somewhat 'bumpy' turn at least as it'll appear on a daily/weekly chart while folks get more comfortable with the idea.
McGRANDPA's choice of Palin for VP was irresponsible, dangerous and an insult to Americans. By that choice and his continuing evil he's proving he'll do anything to win this election even to the point of endangering his own country. DEFEAT HIM!
RE: silver/dollar
NO sooner did I get done posting that last message than a major professional goldbug was on CNBC talking about how the dollar is almost ready to go into freefall.
And after some of the cheerleaders began to disagree Santelli bursts into the conversation and says "Wait a minute! I agree with XXXXXXXX. The rising dollar is only a function of the Euro and other currencies readjusting. When that's done the dollar will begin to fall". He gave a bunch of technical reasons after that all of which I can't remember, but it had a lot to do with foreigner ceasing to buy our dollars and finance our debt any more.
That sounds eerily like your "US sovereignty rating being downgraded" argument!
I think we're on the right track here bud. It's coming, and it sounds like it's coming pretty damned soon too.
ON a side note, Greenspan, John Snow and Christopher Cox are about to get grilled by congress. This should be VERY INTERESTING!
McGRANDPA's choice of Palin for VP was irresponsible, dangerous and an insult to Americans. By that choice and his continuing evil he's proving he'll do anything to win this election even to the point of endangering his own country. DEFEAT HIM!
The answer to a good way to stock up on foodstuffs for long term storage is to buy the Nutrisystems monthly food deliveries.
For less than $3 bucks a meal you get a wide variety of long term storage packaged foods DELIVERED to your house.
It provides a well-balanced diet to boot.
I know it sounds kind of weird but wifey got it once on a trial basis and it was not only pretty good stuff, but it was easy to get into and out of the program, it's cheap, it's pre-packaged for emergency storage, it's well balanced. Takes all the guess work out of building a stock for emergencies of any kind.
As for the stock, it's the same answer...NTRI even pays a divy! Now at over 6% and judging by last nights earnings report and guidance it'll be going lower, making the divy higher...which they DID STATE THAT THEY WOULD CONTINUE PAYING by the way.
Also,...saw a 22 yr chart yesterday presented by a professional technician that indicated a MAJOR technical reversal in the dollar is indicated to come within 1-2 weeks from right now.
This could be the catalyst to begin the big trek upwards for silver that we've been waiting for.
This of course bodes well for silver, but also means inflation is going to be starting a serious upward trend too which is terrible for prices and hence our standards of living and buying power.
But this next two weeks might be the best time to get your commodities cheap(including food for storage), silver and anything else that'll hold it's value in an inflationary environment.
It should be noted that this turn in inflation is only the beginning of a VERY LONG TREND of several years so there's not a huge rush to make these moves, but it does look like it's time to sharpen your vigilance and start making plans as to where you might want to put money that'll hold it's value and it wouldn't hurt if it's a tradeable commodity...ie silver, and, in the event that things get REALLY BAD, even packages of food will be of great value in a worst case scenario.
Other things might include guns and bullets, and even survival gear/tools, not that I think we're anywhere remotely near that stage, at least at this point.
Sorry about not getting back sooner...I worked all day yesterday, came n for a rest and fell asleep until the wee hours.
Going to check what happened to NTRI this morning now. I'm going to keep an eye on it from now on.
PS: Last night I looked at the fundamentals and there's a 53% short position against it! It'll probably get a lot cheaper before it gets better, but it'll have a higher yield too...if it survives that is.
If you have any questions about the food from Nutrisystems let me know.
If this
Great article, and it does seem to hit all the salient points that we've been discussing.
I've read it and re read it twice now, but I'm going to let it simmer in the old noggin for a while longer and see what shakes out thought-wise. Then I'll get back to you on it again. I sense there's something there that hasn't quite fermented in my head yet. LOL
PS: If you're truly concerned about survivalist things that you can do, I have a what I consider a great way to stock up on food stuffs for long term storage at a very reasonable price that I thought of a few months ago.
I also have a stock that looks really good related to that fear that seems to be gaining some traction in light of this nasty mess we're heading into.
Heading out to put in some storm windows around the deck on the back of the house while I have some good sun and fine weather. I'll get back to you this afternoon.
:D
McGRANDPA's choice of Palin for VP was irresponsible, dangerous and an insult to Americans. By that choice and his continuing evil he's proving he'll do anything to win this election even to the point of endangering his own country. DEFEAT HIM!
SLV SHORT TERM DAILY...
SLV short term weekly
Bob Pisanti just said he hasn't heard a word about the sale of Lehman's CDS yet today and speculated that that MAY be a good thing, but with a liability of 90 cents on each dollar they insured I have serious doubts as to whether it's all been paid for yet.
Lehman had roughly $600 billion in CDSs if I'm not mistaken. That's a BIG CHUNK OF CHANGE! If it's still hanging out there in any serious way we're in for another big THUMPING so keep your ears pricked for that next shoe to hit the floor.
That's the kind of thing they just LOVE to announce AFTER THE CLOSE!
McGRANDPA's choice of Palin for VP was irresponsible, dangerous and an insult to Americans. By that choice and his continuing evil he's proving he'll do anything to win this election even to the point of endangering his own country. DEFEAT HIM!
Yeah, I just sold the 200 oz paper silver that I bought in the 9.20's last Friday on the spinning top doji.
Still have another 200oz left but looking to dump it too pretty soon most likely although I'm now averaged down to under $10 on the remaining 200.
McGRANDPA's choice of Palin for VP was irresponsible, dangerous and an insult to Americans. By that choice and his continuing evil he's proving he'll do anything to win this election even to the point of endangering his own country. DEFEAT HIM!
I read your survivalist article, and I think I'd only add...
toilet paper and canned/dehydrated soup to their list. LOL
Real skills is a plus as well. My local family is well suited for this as all of our houses are free and clear, we have land for hunting and fishing and the skills to take advantage of it, and we can create tradeable commodities in a barter society.
I haven't sold any physical yet myself either. Just too many big negative scenarios still possible out there and all we need is one big key event to bring the huge inflation factor into focus. I want to remain ready for that just in case it should appear sooner than expected.
Just heard Santelli again. That guy is realist and tells it like it is.
The talking heads in the "OCTABOX" were all saying how much better things are looking bla bla bla and Santelli comes on shaking his head and smirking at them.
He asked them to fill in the blank..."The US is a bright shining example of fill in the blank.
All they could come up with was "It's better here than anywhere else". Santelli laughed and said "Yeah! That's about it."
He then proceeded to tell them about the treasury auction that they'd just completed where there were 3 dollars bidding for ever dollar available in the auction, citing the fact that the flight to safety is ANYTHING BUT OVER.
Boy, you really have to weed out the mindless cheerleaders and lost souls and focus on the very few that can deal intelligently in honest reality.
McGRANDPA's choice of Palin for VP was irresponsible, dangerous and an insult to Americans. By that choice and his continuing evil he's proving he'll do anything to win this election even to the point of endangering his own country. DEFEAT HIM!
I'm not completely buying the following quote from Ihub news...
"If (OPEC) decides to go ahead and cut production, that should boost the oil market and could help precious metals," said Afshin Nabavi, head of trading at MKS Finance in Geneva.
I think it could help the price of oil for obvious reasons. Not that it'll go screaming up again, but it may stabilize the price eventually. Where is anybody's guess at this point and will depend on demand and the ever present speculation/manipulation.
As for gold/silver, I think the higher the price of oil remains, the deeper and longer the recession will be and the lower the price of gold/silver will be in spite of whatever inflation higher oil prices brings.
But everything is so muddled up right now it's just incredible, and impossible to intelligently weigh all the relevant factors at any given moment.
As far as I can see at this point, the ONLY factor that will drive up the price of silver/gold will be inflation...and that just ain't in the cards for the time being. In fact it may be quite a long time before it is in spite of the fact that we're literally swimming in dollars and there's more on the way.
There's no doubt in my mind that inflation WILL BE a major factor in the future so there's no argument there. It's only the timing that's in question.
BTW...do you own or play the SLV/GLD etf's or strictly physical stuff? I don't know if I've ever asked you before.
McGRANDPA's choice of Palin for VP was irresponsible, dangerous and an insult to Americans. By that choice and his continuing evil he's proving he'll do anything to win this election even to the point of endangering his own country. DEFEAT HIM!
Bernanke is pushing for another stimulus plan and is implying the need for even lower interest rates to help get things going.
I could use another check in the mail. SPREAD THE WEALTH! LOL
I have no problem with that at all. They concentrated the wealth under moron-boy. It's time to unwind that fascist fiasco now.
All I can say is "What a mess". NO body knows what's going to happen next, and I mean NO body. The only thing that the serious economists seem to agree on is that we're heading into a rather deep recession.
The CDS problem is the shoe I'm waiting to hear drop and see what fallout it creates.
At least once that meets the light of day(if it ever does), we'll know the worst of what'll happen overall.
Some say that it's been obvious for some time that they'll need to be paid off and that some or most have already been taken care of. Somehow I just don't buy that myself but who knows? Oh yeah...NO body! Yet...
The USD was up and SLV was down today but if you look at those charts I sent you you'll see that slv had a spinning top doji today...opening and closing at almost the exact same price and the USD is getting close to being overbought again and didn't yet crack to a new high.
There's a good chance for a small reversal to start in the next session or two.
Just thought I'd mention it in case you hadn't noticed yet.
There are glimmers of some encouraging signs emerging already as far as the future economic recovery.
Warren Buffet is buying on the idiom of "buy when everyone is fearful and sell when...bla bla bla"
His record of successful investing is very clear of course, but if you examine his big moves over the decades you'll see that the BIG TREND CHANGE has always come at least a year out from when he starts buying in, although he does get a pretty good headfake bump between his initial annoucement of buying and the actual trend change. With his kind of money that has to be the strategy. He needs to buy into serious weakness or he'd spike the market all on his own and ruin his own strategy.
The second huge encouragement I've seen is Chris Dodd holding a meeting of his committee and seeing that FINALLY, the smart and RESPONSIBLE GROWN UPS are once again in charge. I know you'll hear all kinds of right wing crap about Dodd, but I know smart and responsible when I see it and I see it in him.
On a side note, rumor has it that Colon Powell is about to endorse Obama for Prez.