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Bid-Side Market Depth Evaporating As Gold Explodes
Market depth is still available although even with a full bidside load at every quarter stop, these are getting taken out with machine gun regularity. Watch this carefully to see if it makes sense to put $0.01 bids on Procter and Gamble. Actually go ahead and put that bid in. At this rate you will get hit.
And here is gold.
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Look at the 10 yr. Now under 3.38.
10 yr new trading range
I am SO glad I bought a boat load of 10Y Treasuries when the 10Y tickled 4% around April Fool's day. Karma!
Now watch me get greedy and hang on longer than I should. You know what they say about a fool and his money. :>)
Got my bids in for PG at $40.
sorry haters
The gold chart is giving someone the finger; I'm just not sure who that someone is...
Whoever bought Pound Sterling or Euros. They are both crashing.
Europe, GBP ausie and kiwi dollar, and chinese are currently buying gold. Every other central bank is currently selling gold to them. Crashing gold prices in all the other currencies while they rise in the buyers. Currency markets are now hitched to gold markets.
Dennis Gartman
:)
And Robert Prechter!
I'm still waiting for my sub-$600 gold, Bobbie.
Ben Bernanke and his All-Star Fiat Currency Chorus
its giving the finger to dennis gartman
The gold chart is giving someone the finger; I'm just not sure who that someone is...
The gold chart gave the finger to gold bugs located in the eurozone. Yesterday's high above 32.30€/gr, today's low below 31.30€/gr.
gold took some viagra
KABOOM!!!!!
Hope you guys bought the dips of this morning.
Gold is going much higher,fiat paper currencies are quite
unwanted now.Buy physical only!!
Pfft, Euro pinned 1.22 exactly, stop being such a tease.
Never mind, 1.2193...
1.2176
a california congressman with an mba assured us that since national economies were not like households or companies then debt could increase to prove wealth and economic strength. it seems so ridiculous that gold would increase and fx and equities markets would be troubled with our new found strength...
not.
what is the preferred gold investment among the ZHer's? Personally, I've been buying SGOL, but I'm still holding some GLD from earlier.
Physical gold bullion coins only (US Eagles or S.A. Krugerrands, etc.).
GLD has problems.
Miners are risky.
agreed on the GLD. It was my first foray into gold, and I've just been holding. Maybe I'll take some profits with it tomorrow...
There is a reason PHYS trades at a 30% premium to NAV.
Physical. Physical. Physical. GLD is a fraud that does not have the gold in inventory to back up the etf (can you say lawsuits after this comes out and they have to settle in fiat cash for pennies on the dollar to all their defrauded investors?) - another scheme by the international banking cabal. Sell your GLD and buy the physical - no knowledge of SGOL.
Disclosure: long physical gold and silver and no bogus paper claims to the real metals
It's after 3 and the Dow is down 133. Do you know where your PPT is?
WTF? Euro absolutely CRASHING!
Master Bates!
On the Dow side we are 100 points away from a 08 waterfall.
Dow Theorist Richard Russell: Sell Everything Liquid, You Won't Recognize America By The End Of The Yearhttp://www.businessinsider.com/dow-theorist-richard-russell-sell-everyth...
Isnt this gold/ silver BS a bear raid so that JPM can try to cover some of that...oh, couple of year's supply worth of silver shorts they've got on?
Cant wait to see China or someone buy the shit out of silver and watch JPM implode.
This could accelerate quickly into the close to the downside. I'm considering closing out some longs I've had right here. No catalysts this afternoon that I can see.
Why the change in sentiment, Harry?
reverse psychology !
"What do you mean, all the Titanic's lifeboats have already been launched? I am a first-class passenger, dammit! Now take this money and find me one!"
He like EVERY other joker like him wants to believe that HFT is a steely eyed unstoppable machine.
But to quote fight club. "Their ass is a wad of cookie dough."
Gives a whole new meaning to the term "caught with his hand in the cookie jar".
They're going to look like goatse man before this is all over, methinks.
Here comes the plunge protection team. Just in time.
Everyone please step aside: PPT coming though...
sniff... but what about black gold?
Time for stocks to rally. Strong fundamentals ya know.
I wouldnt get involved in this mess harry.. This whole thing is an accident looking for a place to happen at..
Holy Moly, if Gold keeps this up it will be all the back to where it was yesterday!!
or even this morning.....Man!!
Have no fear the magic index futures will rise like magic overnight as the US sleeps.
Will GS hit their 52 week low today? Tomorrow?
Here is a company that vacuums $100 million/day in profits out of the market, has monopolistic powers of manipulation over the markets, and has no dependency on the American consumer. Yet it continues to slide further and further into the 52-week ditch.
If you can't own that stock with that sort of profit-power and business model, what is left to own?
Farm land in the blue ridge mountains...
Farm land in the blue ridge biatchies!
I know someone who has paddies, teak, mangos, bananas, chickens, water, fish. When there's no rice in the paddies, soybeans are growing. Lovely, kind and a good cook too.
http://www.youtube.com/watch?v=6y3CafoJ2mo
Damn its good to be short.
PPT blew their load too early.
It's goona get dirty going into the close
Here is the genius Leo a few hrs ago,
Someone has to take the other side of the trade for the army of zero hedgers who all tend to hold the rank of Captain and answer to the name of Obvious.
Damn! You got junked for even suggesting not preaching to the choir!
How dare you stray from the narrow cofines of no-conformity!
U.S. stocks closed lower Tuesday, giving up earlier gains after a late-session slide that tracked a tumble in the euro to a fresh four-year low.
http://www.marketwatch.com/story/us-stocks-drop-alongside-euro-dow-down-115-pts-2010-05-18?reflink=MW_news_stmp
I want to Thank Germany's push for Greek Austerity which equals a Trillion Dollar Bailout!
I want to Thank France for keeping up the negative Pressure on the Euro for a second week, post Trillion dollar Bailout!
I want to Thank everyone who filed suit in Germany!
I want to Thank the FED for opening the SWAP window...
I could go on and on Thanking all the idiots who brought about the disaster / Greek Tragedy... now on going for the last two weeks...
Short the World, buy over priced Gold with your paper profits... hedge your winnings into an over priced Loser, just in case! the world melts down because the FED runs out of paper to print on!
YAAAAAAAAAYYYYYY!!!!! http://www.youtube.com/watch?v=70K9xSwE50g&feature=related the trip you guys are on needs a special travel agent!
Will GS hit their 52 week low today? Tomorrow?
Here is a company that vacuums $100 million/day in profits out of the market, has monopolistic powers of manipulation over the markets, and has no dependency on the American consumer. Yet it continues to slide further and further into the 52-week ditch.
If you can't own that stock with that sort of profit-power and business model, what is left to own?
Anyone have any insight as to why GS is tracking notably worse than any of its peers? If it was purely the fear of new banking regulations, shouldn't GS's peers perform equally as bad?
and here comes the parade; Whitney, Bove, probably Gartman later on the CNBC after hours "show", and the usual daily touts will be coming on talking their book, and the same ol' question by miss shrill, "So what do you Buy here"
I wonder if the few remaining poor sods who continue to watch CNBC ever wonder why these primped parrots of pro-paper propaganda never, ever ask or talk about what one should be SELLING here instead?
lol. Nope Ive been watching cnbc for awhile as a contrairian indicator. No, no broaching of the subject of selling, when the IBs dump what cnbc has dutifully pumped, they go into "Baghdad Bob" mode, where there is in fact no sell-off occuring, its just a fire sell on stocks so you better buy buy buy before they are all gone!
Notice that companies are giving lower guidance going forward? At least guiding at the bottom of the expected range? Even with all their accounting trix they can only hold up so long. It's amazing what games public companies play w/ their books to try and manage expectations.
Oh when, putting in low limit bids on stocks, keep them within 60% of price as the exchanges reversed trades with bigger swings than that.
Good advice for tomorrow morning.
on Tue, 05/18/2010 - 15:20
#358987
Oh when, putting in low limit bids on stocks, keep them within 60% of price as the exchanges reversed trades with bigger swings than that.
Common_Cents22,
Why dont we all get a 10% stop loss breaker built into the system now?
http://www.businessweek.com/news/2010-05-18/sec-proposes-circuit-breakers-for-single-stocks-on-10-swings.html
SEC Proposes Circuit Breakers for Single Stocks on 10% Swings
Hooray!!!! we are all saved!!!!
A must read article for Gold & Silver from Jesse's:
http://jessescrossroadscafe.blogspot.com/2010/05/net-asset-value-of-cert...
Physical coins with a US face value are great insurance and best in a collapse. PHYS is good with PHYS certificates being able to be turned in for gold and a 15% tax on gains, but there is a large premium to NAV. I also have some miners including GDX and GDXJ but am somewhat concerned by the high P/E multiples, peak gold, and the potential for higher taxes like the Australia moves. In addition, governments colluding with banks do indeed attempt to reduce appreciation in precious metals. Diversify your assets into things that you might need for any scenario except GDP 5%+.
Gold is the foundation of the monetary system although it is not advertised. Imagine if the price of everything was arbitrary with no principles - it would be like trying to live here without gravity.
Miners sell additional shares, bankers like JPM and GS sell shares and commodities naked without the required capital with unlimited leverage, who knows or can guarantee that market makers and the DTCC are actually reconciling shares so the # of shares could be fungible (the banks winning streak could be due to not even taking posession of stocks, just matching a buy with a sell in their order flow over a weekly period),and many ETFs just serve to divert funds from physical. We are running out of gold, the price should be so much higher than it is but because of the diversions in equities, etfs, and price manipulations it may be the only asset that is not in a bubble - paper is in a bubble.
His point that the Euro currency threat has not yet spread to the dollar but once it does PM's in dollars will jump is important.
Is it just me or when people are jumping up and down screaming rally.... isn't there supposed to be some UPWARD! Movement?
How about just a lil bit of UPWARD! Movement?
No UPWARD! Movement and in fact DOWNWARD! Movement is not a rally! Well, unless you are a Gold Bug!
I read... "Stupid is, as Stupid Does!"
Hurry... Limited time only!!!
Buy into the Gold Bubble...
But hurry! Before prices dip any lower!
Don't be left out!
Don't be one of those who Bought Low to sell High!!!
The End is Near... We are waiting on your call... 1 (800) You-Idiot or 1 (800) Gold-Bug
Republicans, Evangelicals and Sheepeople get here fast!
Before...
The Uni-Bombers, Rapture Crowd and / or other idiots steals your top spot!
Remember Gold will not be at all time highs forever! Hurry and buy at the top!
For a limited time only we will offer You! For! Free!!! a “How to scare your friends and family into buying Physical Gold!” kit, as taught by an out of work used car salesman! A $5.00 value for free!!!
Remember that the End is Near!
Don’t get caught Buying Low to sell High!!!
Ignore the 30 year charts at all costs? http://goldprice.org/30-year-gold-price-history.html
The spaces in your post are the best part. You should just throw out the rest and keep that part in the middle.
You are soooooo witty... retirement came not a moment too soon for you, have you noticed since you retired that all this mess started... what has become of the world minus your direct, day to day involvement? Gone to hell in a hand basket, all because you wanted to play shuffleboard.
It strikes me that now, after you have retired… that you finally found a conscience. Too bad, with all that you have to offer that you did not pick up the fight earlier in life… too bad for the rest of us your genius was wasted on selfish pursuits until lately.
Well, I hope that you never give up the fight for Austerity and that when the lights go out that the Mob visits your house first. Got any cute daughters or granddaughters you can trade the Mob for your life? Never mind they will just shoot you and take them, no need to barter… and remember, buy lots of Gold!
Another troll or a cabal employee posting the same thing under every thread..Just ignore..
I see you attack me, but not the facts... sooooooo? never mind that went right over your hat rack..
repeat "repetive stupid assertions"
exit
http://www.thinkgeek.com/tshirts-apparel/unisex/frustrations/374d/
I respect everyone's views, as long as it is supported by an argument, because I can argue against arguments with my own views. If I see someone posting the same idiotic thing under every gold thread, I reveal it so noone takes it seriously.
What facts are you talking about, sorry? That the 30-year old chart shows gold is going to fall? Is that your fact? I replied in another thread you posted the same thing: Historical prices have no meaning when the whole system is in a sovereign default race, and an imminent currency crisis. The historical charts do not have a period of such excessive debt levels and such a crazy money printing practice, do they? So they have no meaning in figuring out what the price of gold will be..Before you come up with the deflationary argument, let me say a few things about that as well: In periodic crisis of the system when the recessions are milder debt-deflationary processes not accompanied by currency crisis, it is normal to observe the price of PMs to fall, despite the fact that in most cases the PMs still maintain their purchasing power due to the demand for safe assets. In such cases, it can sometimes be observed that paper currencies may yield higher returns in the medium-run, but this result depends on the time period you use for your analysis. (This result is in general true if the time-span is extended to cover early recovery period, as the PMs enjoy the full deflationary hit while the panic eases). Now, however, when excessive debt-deflation is accompanied by global sovereign debt crisis and a currency crisis (and let me remind you that does not happen very often at such scale, or to be more precise it has never happened at this scale in the history of capitalism), then the safe haven property of PMs, as opposed any printable asset whose supply can jump at will, outweighs the deflationary affect of the economy-wide debt-deflation. In such cases, the purchasing power of PMs might reach ridiculous levels, as other assets suffer deflationary pressures and PMs enjoy increases in price, as there are not almost any other assets one can really invest in. The deflationists simply ignore that a massive deflation as they predict, combined with austerity measures to suppress demand, would increase the already high sovereign debt to completely ridiculous levels (heard of Latvia last year? you can compare Greece with Latvia by mid-2011 if they really implement those measures). That is precisely the reason for such crazy money-printing, along with the liquidity needs of the obese financial system.
So, there are two options:
1. The governments-CBs succeed in inflating the economies.
2. They fail and massive debt-deflation and deleveraging takes place.
Since you seem to love historical evidence, let me remind you that no CB or government has ever managed to reverse a debt-deflation process yet. As is well-known, it is a self-feeding mechanism, and printing money has never solved the problem. In light of this evidence and tight austerity measures, the safest projection of future is very strong deflationary forces throughout the developed world. Now, the error deflationist camp insists on making is to ignore the sovereign debt crisis that accompanies deflation: This renders the only other remaining safe investment in deflationary periods, namely government bonds incompetitive against PMs and leaves them as the only safe place to put your savings..(considering noone would be dumb enough to stay in a fiat currency that is being printed at an unprecedented pace) If, on the other hand, the CBs, for the first time in history ever, manage to inflate this economy, then there is no discussion on what you should be holding your wealth in: PMs..So,
deflation: PMs (particulary gold) up
hyperinflation: PMs up
kapiche?
I'm looking at your chart. I still don't get your point. Despite massive declines in economic activity throughout the world and upheavals in our entire bases of economic measurement, gold continues to prosper in nearly every currency. Is it doing its job? Would you contend that it isn't? Ahhh... you're of the mind that we're all like you, devoid of a single ounce in hand, diving in at a single price point in hopes of scalping some change from the greater fool. Sorry you missed the train; there are a number of avenues through which one can still gain PoG exposure at minimal cost relative to ounces owned, principally gold miners. What? You don't like them either? Right, because producing a product at low cost in order to sell it at a higher cost is just plain lunacy... unless of course you're manufacturing iPads. WTF?
http://goldprice.org/30-year-gold-price-history.html
I point out, repeatedly... that from the looks of any 30 year chart... that Gold is nearing its peak of historical high price(s). Some of the more informed would argue we are only half way to the high(s) realized in the 1980's... you would seem not to be so well researched and / or informed as to offer quality information of the like, as counter balance to my assertion that Gold is in fact high Priced.
Now that I have made a valid argument for you, since you seem to be incapable of making one for yourself we can continue the conversation..
I would assume (I am always an ass, so no worries) that you would be of the mindset that Gold has around 100% price growth potential left based on the historic highs set.
I would say that due to the immense World Wide pressure that Gold receives from every Country with paper currency, to keep its price down! along with the fact that the World’s Governments have gotten EXTEREMLY good at manipulating the price of Gold, over the Decades. As well the Multiples of Currency’s whose very survival is Pegged to price controls being effective against any prolific Value (publicly) increases being realized in precious metals… and the fact that once again, this is not the first fried turkey these guys have cooked, the action plans are tried and true and have been successful in the past… call them live fire tested, in which high marks where given for proficiency.
Now, just because I tell the truth about things… just because I make sure there is balanced or truthful information being communicated… Just because You, don’t like the truth (http://www.youtube.com/watch?v=5j2F4VcBmeo) or because some how you would lay the blame of the World at my feet because you don’t like the fact that I am honest about our combined reality..
Because I speak the truth does NOT mean that I made the World the way it is or that I even like the lie that we live… but I refuse to ignore the facts or our shared reality because it is not politically correct in this form or any other. I am here to be honest with my fellow human beings and helpful if I can be to my fellow Americans… What I will not do is pretend that the successful manipulation of the prices of precious metals does not exist, what I will not do is over look the blatant truths we all suffer for the sake of popular conversation.
Troll is too nice of a description of this POS, pardon my acronym. Hephaestus has more class in his pinky than JW has in his whole body. It's a shame he feels the need to show how brilliant he is on a site that we all know respects each other for their diversity. If we ignore him maybe he'll go away.
Troll is too nice of a description of this POS, pardon my acronym. Hephaestus has more class in his pinky than JW has in his whole body. It's a shame he feels the need to show how brilliant he is on a site that we all know respects each other for their diversity. If we ignore him maybe he'll go away.
So you are a cheerleader?
Once again... a personal attack? verse? debating the cost of Gold?
I, don't push Gold at $1,250 and oz. to anyone...
I do push... Guns, Ammo and Food first... and then Gold if all the other bases are covered, FIRST...
But back to your non-point and cheerleading...
Gold is high, says every chart I see... so please exercise due caution when buying anything at the heights of its value... or not.. It’s a Free(ish) Country.
As for a professional writer verse a real life non-professional writer... well yes, I think her writes pretty too.
I think it is a shame that followers like you are allowed to speak when grown ups are talking… you offer nothing… NOTHING! But complaints and offer NO! facts or debate… just the 3 year old mentality of name calling. If you cannot offer up a reasonable explanation to why Gold is NOT! close to the top of its value… well, I guess you will have made my point for me then wont you?
Common Sense is NOT! so common… and you exhibiting NO! common sense what so ever, really speaks more clearly on who you are than I ever could. But, I am willing to give it a whirl for entertainment purposes… Mine obliviously.
Be well sunshine and I am sure that the rim job given to Mr. Pretty Writer is much appreciated.
For somebody as intelligent as you proclaim yourself to be, you seem curiously and congenitally unable to recognize that you habitually put four empty lines between each one of your paragraphs, and to stop doing the same.
sold me gold
sold me grub
sold me guns
bought the Euro
Not on your frakin life LOL
Boy when Richard Russell tells you to get out - GET THE HELL OUT!!!!
Gold Bitches ROOCKKKKKKKK!!!!!!!!!!!!!!!!!
YO JW!!!
When the hoards come for you, we'll all be safe in Greece eating friggin bonbons.
Friggin pig banksters. I thought we were gonna hang these fuckers like JW from in the town square?
Actually JW that was too strong I apologize.
I meant to say we should group all bankers in prison with spanky the 400 pound ex linebacker.
On my person at all times... Star Bucks and beyond... http://www.fnherstal.com/index.php?id=269&backPID=263&productID=66&pid_product=295&pidList=263&categorySelector=5&detail=&cHash=b5dcbec1bd
So, anyone that wants to hang me... in Florida with the no retreat law ( http://armsandthelaw.com/archives/2005/04/jeb_bush_signs.php )in full effect... well lets just say, welcome to the real life modern day wild west!
and once again... you bad mouth me becuase, by the charts... Gold is priced high?
Really? are you a used car salesman now pushing Gold or are you just new here? and dont know my stance?
Well, suffice to say I am not retired... I have more than 50 employees that depend on me not throwing my hands in the air and giving up so they can feed thier families... I have my family that demands I work, regradless of the lie that is our combined reality...
I don't have this shuffle board, moral high ground to look down on everyone with.. I have real life day to day work that has to be completed so that the people that rely on me can continue to do so... I am not rolling over and playing dead becuase WAAAAAAAAAAAAAAAAAAAAA I didnt get my way, like some of the 4 year old children here.
Some of us have an obligation to others that requires the best of us in the worst of times, plainly I have to make chickken salad out of chicken shit daily for the benefit of others.. becuase I can be in the Bahamas, but quick and fishing... I dont need to go to work as much as I feel like I need to do right by other people.
I have Gold, Silver and assorted others colorful trinkets... but Guns, Ammo and Food first... before the physical at $1,250 and oz. if you catch my drift... and if not, more power to you.. it is a Free(ish) Country still... do what you want with what you have, its your right!
But you are always welcome in Florida, we would Love to have your monies being spent in this Great State... Hint, stay on the east coast as the oil has not fucked up the beaches yet on that side of the State.
JW I don't mind your anti-contrarian contrarian investment thoughts.
I am concerned about your attacks on shuffleboard and fishing.
Producing and consuming is not all it's cracked up to be. Haven't you heard?
Some liquidity, a little technology and self-sufficiency is where it's at.
Plus, fishing or shuffleboarding, you're not feeding the monkey that's on everyone's back.
Peace
You cant eat shuffleboard lol
I would rather be in Heaven... http://www.spanishcay.com/
Forgive any view(s) that could be mis-taken as anti-fishing... ShuffleBoard I don't hate, that was more to paint a picture for some of those who lived thier entire lives with thier eyes wide shut! only to grow a set of balls once out of the mainstream. Moral's are Great! if you can afford to have them..
Enter the Bible Thumpers!
That aside, I am Pro-Fishing! largest for me was 650lbs. plus... liteline, tag and release... I am hoping with all this warm water this summer (el-nino') in the Bahamas that I can best my best... fingers and toes crossed!
Seriously, please forgive any anti-fishing tone... I am a flip flops kind of guy, more than not...
Be well and fruitful, JW