I am expecting a massive USGovt response imminently
the Exchange Stabilization Fund will act
aka Plunge Protection Team
(sounds like a financial prophylactic used by dirty dicks)
GOOD TO HEAR FROM YOU, MIKE, GETTING LONELY IN THE DOGHOUSE
the doghouse nightwatchman has announced he unlocks on Oct 24th
with stocks teetering near old July reversal points
with dollar showing some wartime haven strength
with gold wandering around after a few failures at #325
with CRB index slipping, after touching its Cup&Handle target
with the bank sector showing some cracks (viz BKX index)
I expect a massive PPTeam maneuver
they will not sit back and allow JPMorgo to fail
their stock is at dangerous levels warned by Sinclair
the response could be govt assumption of portions of JPM hedgebook
it could be outright purchase of BKX index or JPM shares
if JPMorgo fails, then the major moneycenter banks will fail
Morgo will not be told to walk quietly into the night
they will be rescued as much as possible first
they will AT LEAST soften the gold market for Morgo's covering!!!
I lightened up on my golds today
too many bad signals, mentioned above
the gold metal chart looks weak here, with doubletop, maybe tripletop
the chart pattern reminds me of what it resembled in late June
the HUI and XAU indexes dont look good, with HUI breaking below 120
the USdollar performs fabulously during wartime
I believe JPM share price signals severe banking problems soon
but not immediately
we next should see the govt response
/ jim
AI
