Replies to post #121633 on Zeev's Turnips Patch-No Politics (ZEEV)

[Dances-W-waves]

Kind of fascinating really.

It is fascinating. I could talk about it forever. It's just a old hobby of mine, but my brother spends all his spare time on his claim, and my father used to make a living at it.

I learned a great deal about placer gold mining from my father. He had some great ideas for mining equipment, and his gold claim produced lots of gold....still does.

It really is great fun. Ya outta try it, you'll like it. <g>

[mlsoft]

schloss...

I would love to pan for gold like that - one of the things still on my list of things to do before I get too old to do them. Some days I feel like it is already too late <g>.

"I believe that AG allowed the market to drop today to keep up the semblance of a free market, but you can be damn sure he will be pumping tomorrow right from the get-go. As you have said so many times--and if you are correct--he cannot allow the weekend to begin on the heels of two days of selling. I don't think even he could avert another Black Monday in that case! Actually, tomorrow could be a wonderful test of the validity of the Greenspan Gambit."

I disagree - given the opportunity I believe that AG will always choose the upside and to date he has shown no desire to keep up any pretext of a free market. The higher the better and the faster the better seems to be his program. What got him today was the whiff of reality that the markets got from the LEI (the only strength in the economy is directly attributable to the "Greenspan Gambit") and the "Philly Phed" which showed what a farce and outlandish piece of fiction the NY (Empire State) Fed report was. That bought in enough selling that AG had to go into defensive mode for the rest of the day.

Tomorrow is a new day and if AG can get a rally going I am sure he will, but being Friday and quad expiration day, he may not have a lot of control over what happens. I expect us to at least start out with more selling and see no reason to think we will not close red for the day, but anything can happen. I think you are confusing me with someone else - I have never said that "he cannot allow the weekend to begin on the heels of two days of selling", but what I have always said is that he cannot allow serious downside momentum to get underway, so I would expect him to continue today's pattern of support buying to prevent that from happening. If possible, he will start a rally, but I do not see that as critical, especially as overbought as we are. The real test of the "Greenspan Gambit" is to minimize downside action so that he can quickly turn the markets back up.

mlsoft