Archive - Nov 8, 2012 - Blog entry

And why not with her on top of the heap?

Back in the late 1980s, the entire business world was obsessed with Japan. It's no wonder that this was the case: here was a country which had emerged from the ashes of World War 2 and had become the world's second-largest economy. They made high-quality cars, consumer electronics, semiconductors, plus they seemed to have a management style and work ethic that put the "good old USA" to shame.

Long Apple. 

Today’s AM fix was USD 1,715.00, EUR 1,347.42, and 1,075.84 GBP per ounce. 
Yesterday’s AM fix was USD 1,730.50, EUR 1,345.86, and GBP 1,080.75 per ounce.

Silver is trading at $31.85/oz, €25.10/oz and £20.00/oz. Platinum is trading at $1,546.75/oz, palladium at $607.30/oz and rhodium at $1,100/oz.

Gold rose $2.10 or 0.12% in New York yesterday and closed at $1,718.30. Silver hit a low of $31.209 then recovered in late trade but still finished with a loss of 0.56%.

Starving a skinny man doesn't make him healthy, but then again neither does shoving 30lbs of food down his throat. When will TPTB start using their heads? As long as policy mistakes are made, contrarian profits can be made as well.

Hmmm… Initial rebound after yesterday’s bashing was rather modest, settling on a bit better and awaiting US input. Spain overdid its auction, which looked just good in the sense of being able to say it sold a new bond for size – to its dealers. ECB, happy to have provided the idea of OMT to save the world from simple panic, now going pessimistic (in non-panicky way). It’s just soft out there… It’s the economy, Stupid! And it is weak.
"Bop 'Til You Drop " (Bunds 1,36% -2; Spain 5,84% +16; Stoxx 2479% +0,1%; EUR 1,275)

Today is the 2nd of the long-end UST auctions for the month of November.  16bln 30yrs will be sold to the market at 1pm...largest single DV01 event of the monthly cycle.  Can we game the US Govt??

Rated E.C.B.