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ABX -5.1%, NEM -4.7%, GG -4.1%, GFI -3.2%, SLW -3.3%, AGI -3.4%, AEM -4.7%, AUY -4.1%, IAG -4.6%, KGC -2.9%, NGD -4.3%, AU -3.3%, RGLD -4.8%, GOLD -2.5%.
http://seekingalpha.com/news/2074465-miner-etfs-tumbled-to-multi-year-lows-today
HHHG Wednesday, 10/29/14 09:20:40 PM
Re: Bruce A Thompson post# 1400
Post # of 1404
He's referring to actual direct 'options' contracts (& not JDST/JNUG).
JNUG & JDST are leveraged stock funds that own the long or short contracts for you based on GDXJ movement, but they are not actually options calls or puts. They are the result of options leveraged to GDXJ but technically JDST & JNUG are not 'options'.
GDXJ is the Tree trunk, JNUG/JDST are the branches which reflect GDXJ movement
--------------------------------------------------------------
FYI--- for anyone wondering about options on JNUG/JDST:
It is best to do options with GDXJ, rather than search for what seems to be a small market for "shorting JNUG" or any 3x fund.
Short GDXJ (rather than JNUG) as it is available and it is far more liquid, too.
JDST is the short of JNUG
Check to the Master my friend. (g)
IN JDST @ $20.90
In JDST @ $20.90
USD Just took off!
http://www.marketwatch.com/investing/index/dxy/charts
Gold just dropped like a lead baloon
Hope you got out
Microsoft does not "Call" anyone. Ever.
If you get a cold call or from someone claiming to be Microsoft, it is a scam.
The dollar seems to be firming up here
And forming what looks to be a short term bottom. Could be that it is just waiting on the Fed meeting today. Jnug lower in PM. Gold losing what it gained yesterday. Gold futures non-diagnostic.
Do you know when we will hear from the meeting?
Out of JNUG @ $8.25
Nuckin futs this morning.
He who dongles first, dongles best! (g)
Well, saw off my legs and call me "Shorty"
Looks good for me this morning.
Yup
Got the timing wrong. I should be able to at least break even. If not, I am out if it goes sub $7.50.
In and out until she cried
Enough! Enough! And then she died.
Sounds like you are making her pay.
Large Speculators Build Bullish Gold Positions For Second Week In Latest CFTC Data
By Debbie Carlson of Kitco News
Monday October 27, 2014 12:27 PM
(Kitco News) - For the second straight week, large speculators added to their bullish Comex gold futures and options holdings as prices rose during the timeframe covered by the Commodity Futures Trading Commission weekly data.
Gold was the only metal to see a rise in bullish positions in the disaggregated and legacy reports for the time period ending Oct. 21. As it was in the previous report, the situation was mixed for rest of the metals complex. In silver, funds trimmed a net-short position in the disaggregated report and reduced a net-bullish position in the legacy data. In the platinum group metals, large speculators cut bullish exposure in both reports, while in copper, funds raised their net-short position.
Metals prices were mixed during the time period covered by the latest CFTC report. Comex December gold gained $17.40 to $1,251.70 an ounce. December silver gained 14.6 cents to $17.549. January platinum rose $10.70 to $1,282 an ounce. December palladium fell $19.10 to $776. Comex December copper fell 6.2 cents to $3.028 a pound.
Managed-money traders added to holdings for the second consecutive week, pushing their net-long position to 75,273 contracts. These traders added 10,253 longs and cut 13,025 gross shorts. Producers’ and swap dealers’ net-short positions rose as they both added gross shorts and cut gross longs positions.
The non-commercial traders in the gold legacy report also added new longs and cut shorts, doing so for the second week. They added 12,683 gross long contracts and cut 11,236 gross shorts. They are now net-long 111,279 contracts.
Commercials are net-short and bolstered that position by adding many more gross shorts than gross longs.
Bart Melek, head of commodity strategy at TD Securities, said gold regained its glitter as a safe haven, as “the general angst surrounding the global economy prompted investors to aggressively turn away from risky assets.”
Bought JNUG @ $7.95
Bought JNUG @ $7.95
You would be entitled to roughly $201.00 less
The attorney's fees of 40% or so. So hold your breath for about 6 months or so and then fill out all the appropriate claim forms proving your possession during the class period and then plan where the rest of your vacation money will come from when they send you a check for $120 or so.
You can feel good for the attorneys who will be banking about $48 million for their efforts on your behalf.
Response to Senator Rubio
Everyone should contact his office and ask them to educate themselves.
Thank you for your response.
I have to say that you have been grossly misinformed as to the part FNMA played in the 2008 crisis. Your position, based on that misinformation, is going to cause major harm to the housing market and to the entire economy as well.
Fannie Mae has more than repaid in the amounts forced upon them by FHFA in full. FNMA was strong enough to pull through the crisis without being forced into conservatorship. FNMA would not have participated in the crisis at all if the regulators hadn't forced them to buy those risky loans against their will.
Economic bottom line: If there had not been a Fannie Mae, there would not have been a middle class.
Please have one of your staff read the following book and then ask them questions. www.amazon.com/Mortgage-Wars-Big-Money-Politics-Collapse/dp/0071821090/ref=sr_1_1?s=books&ie=UTF8&qid=1414238306&sr=1-1&keywords=mortgage+wars
Thank you for your time,
Bruce Thompson
Another Senator With No Clue
Senator Marco Rubio
To Me Oct 24 at 4:14 PM
Dear Mr. Thompson,
Thank you for contacting me with regard to the housing market. This is an important issue for Floridians and I appreciate the opportunity to discuss it with you.
As you know, misguided government policy fueled excesses in the housing and real estate markets throughout the 2000s, leading to a peak in the market in 2006 and a subsequent crash. The losses to American homeowners were enormous. Families across the country lost more than thirty percent of their home's value, in many cases leaving them underwater on their mortgages, and many have still not recovered to this day. Nationally, the housing market is beginning to recover, albeit slowly.
Though the worst may be passed, homeowners continue to struggle. Policymakers must learn the correct lessons from the recent crisis and not repeat mistakes. Past promises of assistance have only resulted in financial ruin for millions of Americans.
Federal legislation passed during the downturn served only to make matters worse for Floridians by prolonging the negative impacts of government favoritism. The Dodd-Frank Wall Street Reform and Consumer Protection Act, passed under a Democrat-led House and Senate and signed by the President in 2010, imposes stringent regulations on small and community banks, the most important lenders in a housing market recovery. One community bank president described the Dodd-Frank regulations as, "Costly, both in time and personnel to implement," and, "confusing to our [customers]." By placing burdens on the lenders and creditors most vital to recovery, this law will continue to hurt homeowners and families in Florida.
Additionally, Dodd-Frank failed to address Fannie Mae and Freddie Mac, the failed mortgage giants that helped precipitate the collapse of the American housing market. In September 2008, the government placed them into conservatorship and provided a taxpayer funded bailout. The price tag paid by the U.S. taxpayer for the financial rescue of these two enterprises alone exceeds $150 billion.
The Federal Housing Authority (FHA) and the government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac have served as short-term band-aids for the housing market and further distort the true value of Americans' homes. With more than 90 percent of all mortgage originations backed by the government, a larger government role in the market and more bailouts are exactly the wrong solutions for taxpayers. Congress must examine the increasing liability of these lending giants to meaningfully reform the financial and housing market.
Floridians know that if the government created a mess of the housing market, it cannot be trusted alone to be the solution. We cannot ask our children and grandchildren to finance Washington's risky lending and irresponsible government policies by accumulating more debt. Fannie Mae and Freddie Mac must be wound down and reformed, allowing a fair market for housing to return in the private sector. The federal government must learn the lessons of the Great Recession and allow lenders and borrowers to make informed decisions without excessive government meddling.
A healthy housing market is a goal shared by all Floridians. Restoring choice and an open marketplace in housing will revive economic growth for all Americans. I will keep your suggestions and thoughts in mind when considering issues that will impact the housing market in Florida and the nation as a whole. It is an honor and a pleasure to serve the people of Florida.
Sincerely,
Marco Rubio
United States Senator
Each week I provide a weekly update on issues in Washington and ways in which my office can assist the people of Florida. Sign up here for updates on my legislative efforts, schedule of events throughout Florida, constituent services and much more.
Try putting the USB dongle in a different slot.
JNUG & JDST both down in PM
Now you don't see that happen very often.
I don't need no steenking home run
I'll take a 14% single every time I get up to bat and like it!
Looking at the dollar again
Shows today was a third failed attempt @ 86.
What do I know? But it looks like a reversal with miners reacting first.
It is actually a failed second top @ 86
Sold 1/2 JNUG @ $9.02 for ++$1.10
Sold 1/2 JNUG @ $9.02 for ++$1.10
Little at a time. Dollar looks toppy.
Moving some $ into JNUG @ $7.90
Moving some $ into JNUG @ $7.90
Next stop for gold
Looks to test $1180 again
Missed it by 30 minutes (G)