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Gold Flash Smash

Tyler Durden's picture





 

Gold is the only asset that takes the escalator down and the express elevator up. Incidentally, the 3% surge in WTI was predicted by Zero Hedge yesterday on what is completely common-sensical assumptions. What kind of idiots are running this market if someone is surprised by what is happening today?

 


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Fri, 01/28/2011 - 12:52 | Link to Comment Gubbmint Cheese
Gubbmint Cheese's picture

Nice bounce!

Fri, 01/28/2011 - 13:15 | Link to Comment Pladizow
Pladizow's picture

Cut 'n' Paste Post.

Year      Month of Gold low

2001       March/April

2002       Jan

2003       April

2004       May

2005       Feb

2006       March

2007       Jan

2008       Nov

2009       Jan

2010       Feb

So 9 out of the last 10 years gold hits its low by May.

And 7 out of the last 10 years it hits its low in the first quarter.

IGNORE THE NOISE!

Fri, 01/28/2011 - 13:31 | Link to Comment dlmaniac
dlmaniac's picture

Blythe is busy short-covering her stinky naked butt.

Fri, 01/28/2011 - 13:45 | Link to Comment dlmaniac
dlmaniac's picture

Blythe is busy short-covering her stinky naked butt.

Fri, 01/28/2011 - 14:18 | Link to Comment ColonelCooper
ColonelCooper's picture

Do you think it's stinky though?  I'm guessing she showers.  Probably smells like lilacs.

Fri, 01/28/2011 - 16:40 | Link to Comment The Fonz
The Fonz's picture

I know my butt smells like lilacs... doesn't everyones?

Fri, 01/28/2011 - 16:18 | Link to Comment Math Man
Math Man's picture

The Gold down trend is still intact.

Even with today's rally, we're still down on the week.

If this blows over this weekend, Gold will be below $1300 on Monday.

Fri, 01/28/2011 - 16:34 | Link to Comment tmosley
tmosley's picture

Such weak trolling.  Where are all the good trolls?  It's all fucking third string here.

Fri, 01/28/2011 - 16:45 | Link to Comment MaxVernon
MaxVernon's picture

+1,000!

Fri, 01/28/2011 - 12:53 | Link to Comment spartan117
spartan117's picture

What the eff?  DXY is going up as well. I'm so confused...

Fri, 01/28/2011 - 12:55 | Link to Comment Ragnarok
Ragnarok's picture

Even better.

Fri, 01/28/2011 - 13:40 | Link to Comment GoinFawr
GoinFawr's picture

Same thing happened in early August, no? I believe it is known as 'divestment while the divesting is still good'.

Abiggs, if you're out there, take note.

Regards

Fri, 01/28/2011 - 14:57 | Link to Comment MyKillK
MyKillK's picture

The Gold-DXY correlation hasn't been as strong as it used to be for a couple years now...it's in the slow process of decoupling from the currency trade.

Fri, 01/28/2011 - 16:10 | Link to Comment Joe Sixpack
Joe Sixpack's picture

And on top of that, gold is < 1000 euro. If you are in Europe, I wiould take heed of my avatar.

Fri, 01/28/2011 - 12:53 | Link to Comment schoolsout
schoolsout's picture

my $$$ have been depleted from buying this week.  Was hoping to pull off one more purchase before the ride back up commenced.

Methinks, with all going on in the world, the low has been hit.  Time will tell, though.

 

Somethin's gotta give

Fri, 01/28/2011 - 12:54 | Link to Comment Alex Lionson
Alex Lionson's picture

EUR is being hammered... Wake me up for the meal...

Fri, 01/28/2011 - 12:54 | Link to Comment Ragnarok
Ragnarok's picture

I would go with short covering.  The crashes/dashes are when the robots go beserk.

Fri, 01/28/2011 - 13:34 | Link to Comment william the bastard
william the bastard's picture

STFR

Fri, 01/28/2011 - 12:55 | Link to Comment youngman
youngman's picture

I need to start a 10 million dollar hedge fund so I can control 12% of the market....damn...

Fri, 01/28/2011 - 16:55 | Link to Comment New_Meat
New_Meat's picture

scratching my head on how a "pro" loses like 70%.

Fri, 01/28/2011 - 12:55 | Link to Comment spartan117
spartan117's picture

Hulk Smash!

Fri, 01/28/2011 - 13:36 | Link to Comment downrodeo
downrodeo's picture

it is as if yesterday didn't happen

Fri, 01/28/2011 - 14:25 | Link to Comment HankyPankyBernanke
HankyPankyBernanke's picture

Which was as if Wednesday didnt happen...Volatility Bitchez!

Fri, 01/28/2011 - 12:56 | Link to Comment Dismal Scientist
Dismal Scientist's picture

Where's Spalding ? Oh yes, under Turd's boot once more.

Fri, 01/28/2011 - 12:59 | Link to Comment SheepDog-One
SheepDog-One's picture

Yea Spalding went a little berserk yesterday with his thousand posts proclaiming 'its over for gold' to Turd and lecturing him on how he's been proven so wrong yadda yadda...

Fri, 01/28/2011 - 13:40 | Link to Comment william the bastard
william the bastard's picture

Is this the beginning of hyperinflation?

Fri, 01/28/2011 - 13:47 | Link to Comment tmosley
tmosley's picture

No.  QE1 was the beginning.  Prior to that, we still had a chance of deflation.  We are now starting to see some of the effects of hyperinflationary policy.

"But it can't happen here!"

Fri, 01/28/2011 - 14:45 | Link to Comment UpShotKnotHoleGrable
UpShotKnotHoleGrable's picture

100% sure bennie can end it in about 15 minutes.

Fri, 01/28/2011 - 15:04 | Link to Comment tmosley
tmosley's picture

More like 1/15th of a second.

The last thing to go through his head will be a bullet, probably as a crowd tries to kick in his door.

Fri, 01/28/2011 - 16:44 | Link to Comment The Fonz
The Fonz's picture

100% sure Bennie's butt smells like lilacs too.

Fri, 01/28/2011 - 17:45 | Link to Comment Zero Govt
Zero Govt's picture

100% Bernies butt will be pushing up the Lilacs before he has any control over markets.... you need to see his record, we're on a pure 100% failure rate with not a spark of upside life... The Fed is doomed, give up on the BS it has any control whatsoever

Myths of Govt. 149. Control - none, zip, sweet f.a.

Fri, 01/28/2011 - 13:45 | Link to Comment Non Passaran
Non Passaran's picture

My guess is he's probably busy closing his long positions ;-)

Yesterday (see http://www.zerohedge.com/article/who-guarding-fort-knox#comment-909592) he also recommended MPEL (today it's down, of course).

And I quote:

"I'll give you another ....( MPEL ) The train is almost gone .... "

LOL! What a joker...

Fri, 01/28/2011 - 13:49 | Link to Comment GoinFawr
GoinFawr's picture

"Where's Spalding(sic)?"

Taking out his frustrations by getting monkey-hammered? Or maybe just hammering his monkey?

Fri, 01/28/2011 - 12:56 | Link to Comment John McCloy
John McCloy's picture

 It sure is nice to be living on a continent seperated from the chaos by two oceans and a coastline neraly impervious to invasion huh? Maybe time to get some dollars.

   When exactly do people begin to realize that hungry bellies are being caused by ben printing money and only our reserve status is saving us at the moment?

 

Fri, 01/28/2011 - 12:58 | Link to Comment Alex Lionson
Alex Lionson's picture

Yes... the bitter truth...

Fri, 01/28/2011 - 13:02 | Link to Comment breezer1
breezer1's picture

these people realize what hunger and homelessness means.

http://www.economist.com/node/18010603

Fri, 01/28/2011 - 13:24 | Link to Comment Kina
Kina's picture

Let them eat dollars.

Fri, 01/28/2011 - 14:00 | Link to Comment Bay of Pigs
Bay of Pigs's picture

Well Said John.

This speech by GATA's Chris Powell should be read by all. He delivered it in London yesterday.

http://www.gata.org/node/9545

Fri, 01/28/2011 - 14:33 | Link to Comment InconvenientCou...
InconvenientCounterParty's picture

you forget the yuan peg. Maybe some gold basher should consider what would happen should PROC start spouting about releasing the peg. What would that do to gold priced in $? hmmm.

Fri, 01/28/2011 - 13:02 | Link to Comment Zero Debt
Zero Debt's picture

Fires starting to burn in Cairo just now when the prayers are finished....

Oil up 3%, gold 1.5%, Europe and US indexes all down, Nasdaq -2.7% !!!

Fri, 01/28/2011 - 12:58 | Link to Comment Bill Lumbergh
Bill Lumbergh's picture

Very nice...I wonder if this is more related to the agitation brewing in the Middle East or the start of a move to higher highs.

Fri, 01/28/2011 - 12:58 | Link to Comment ak_khanna
ak_khanna's picture

The stock, commodity and currency exchanges have been reduced to gambling dens whereby the more powerful traders with deep pockets move the markets to maximize their own profits at the expense of the remaining not so powerful players. The big boys have enormous money power to move the markets in the direction which results in maximum profits for themselves. They effectively use the media to lure the other players in the market to a position where they would incur maximum loss. It is similar to rounding up maximum sheep before shutting the doors of the slaughter house.

http://www.marketoracle.co.uk/Article24581.html

Fri, 01/28/2011 - 12:59 | Link to Comment apberusdisvet
apberusdisvet's picture

The current world wide unrest is certainly crimping the game plan of the bullion banksters.  Did you all notice the feeble raid just before trading?  When the riot news started gaining wide publicity, they sure as hell backed off fast.

Fri, 01/28/2011 - 13:01 | Link to Comment Oh regional Indian
Oh regional Indian's picture

These are the kind of days we were talking about in november/December. 

Volatility is up, everywhere. Egypt, Gold, Stocks...personally...

I prefer catamarans to single hulls myself.

ORI

http://aadivaahan.wordpress.com/2010/06/14/70/

Fri, 01/28/2011 - 13:02 | Link to Comment SheepDog-One
SheepDog-One's picture

TRImaran...went around the Bahamas for a couple months in one years ago!

Fri, 01/28/2011 - 13:15 | Link to Comment Oh regional Indian
Oh regional Indian's picture

Fast and furious! Sailing a Cat with a Spinnaker...

I was just invited on a 6 month journey on a motorized/Sail equipped Cat with two old men. The guy was nuts, so I had to decline. 

But man.... wanter, wind and a well designed craft.

Awesome.

ORI

Never been on a TRI. Saw one at the Annapolis Boat Show. It was a 14 million dollar floating mansion. Rather desirable too.

Fri, 01/28/2011 - 13:05 | Link to Comment schoolsout
schoolsout's picture

give me a monohull any day where I'm from...

60+ mile trips offshore in a cat is good...as long as you are in a head or following sea.  Quartering sea and you better be holding on.

Carolina built sportfishers for me, please...

Fri, 01/28/2011 - 16:48 | Link to Comment The Fonz
The Fonz's picture

I am considering a Macgregor 26X, and a long cruise down to S. America.

Fri, 01/28/2011 - 13:01 | Link to Comment theworldisnotenough
theworldisnotenough's picture

Fuck technicals...

 

I got killed.

Fri, 01/28/2011 - 13:03 | Link to Comment SheepDog-One
SheepDog-One's picture

Technically, its all a total joke. BTW where are all the giddy gold mashers today?

Fri, 01/28/2011 - 13:39 | Link to Comment william the bastard
william the bastard's picture

Oil is up twice as much as gold

Fri, 01/28/2011 - 14:35 | Link to Comment snowball777
snowball777's picture

Not too many goldmines near the Suez.

Fri, 01/28/2011 - 13:01 | Link to Comment TheGreatPonzi
TheGreatPonzi's picture

1308 to 1344 in a few hours...

Fri, 01/28/2011 - 13:37 | Link to Comment william the bastard
william the bastard's picture

On no news!

Fri, 01/28/2011 - 17:18 | Link to Comment Quintus
Quintus's picture

No News?  I guess the Middle East and North Africa starting to come apart at an accelerating pace doesn't count as 'News' then?

Fri, 01/28/2011 - 17:21 | Link to Comment Quintus
Quintus's picture

.

Fri, 01/28/2011 - 13:04 | Link to Comment butthead
butthead's picture

Look at silver!  Up $1.02 to $27.96 this a.m.  The Turd nailed it pretty well.

Fri, 01/28/2011 - 13:06 | Link to Comment SheepDog-One
SheepDog-One's picture

Much to Spaldings dismay and total silence today.

Fri, 01/28/2011 - 13:16 | Link to Comment in-Credible Banker
in-Credible Banker's picture

I love these days when my brokerage accounts are GREEN GREEN GREEN on otherwise down days.  I know you all can relate!

 

:)

Fri, 01/28/2011 - 13:05 | Link to Comment TheGreatPonzi
TheGreatPonzi's picture

WOW

Beginning of hyperinflation?

Crude Oil +5%

Gonzalo Lira had a good timing...

Fri, 01/28/2011 - 13:12 | Link to Comment bob_dabolina
bob_dabolina's picture

As a result of strong global demand due to a strong and robust economic recovery. Inflation is in-line with our expectations as our mandate dictates. Unemployment is just a smidgen lofty. I have no further concerns.

-Ben Bernanke

Fri, 01/28/2011 - 13:52 | Link to Comment tmosley
tmosley's picture

Seems more like an effect of closing the Suez canal.  But then, that would also make a convenient patsy.

"No, no, it wasn't OUR fault, it was the Egyptians closing Suez!  Here, we'll print you some more nice dollars so you can go secure some trade routes."

Sat, 01/29/2011 - 00:04 | Link to Comment Oh regional Indian
Oh regional Indian's picture

+ $150 /bbl
ORI

Fri, 01/28/2011 - 13:06 | Link to Comment bob_dabolina
bob_dabolina's picture

I am having trouble locating the interior decorator and the robot.

Fri, 01/28/2011 - 13:17 | Link to Comment countryboy42
countryboy42's picture

Harry got whacked when Amazon quit selling his "Where's Waldo?" audio books. Either that or he is still working on his new sex toy prototype, something to do with a used pair of rollerskates, a woodpecker, a floor lamp, an old Garden Weasel, and a box of rubber-bands.

Fri, 01/28/2011 - 13:38 | Link to Comment downrodeo
downrodeo's picture

Harry got whacked when Amazon quit selling his "Where's Waldo?" audio books

 

+1000

that is the funniest thing I've ever seen

Fri, 01/28/2011 - 14:11 | Link to Comment Crime of the Century
Crime of the Century's picture

No kidding - I'm laughing like George McFly...

Fri, 01/28/2011 - 13:38 | Link to Comment Arkadaba
Arkadaba's picture

+lmao ! Glad I'm not the only one who has noticed this trend.

Fri, 01/28/2011 - 13:06 | Link to Comment in-Credible Banker
in-Credible Banker's picture

Interesting day.  I'm off to Switzerland next week.  Wonder what the vibe will be.  For sure my Starbucks will look a lot more expensive with CHF/USD around 1.05.....

Fri, 01/28/2011 - 13:07 | Link to Comment John McCloy
John McCloy's picture

Wowzer..Red Candle me baby. Look at that drop and tell me this market can handle even the mildest black swan. Not a change the machines could keep up with the unprecedented amount of volume that would hit this market the moment it is realized that trying to centrally plan and price fix the governments of world collectively is impossible.

   Notice how the markets rarely respond to corruption verification? This is because the elites are so confident and have been correct that their pawns in the U.S. government will always ensure their interests are protected and crimes go unpunished.

   Now take notice of how threat of revolution and violence gives them pause and that is because the entire ponzi system is contingent upon their power influence and the continuance to change rules and extract productivity from the debt slaves without fear. When events like this happen the slow realization that the moment even the smallest riot occurs in the city streets (of the most armed populace in human history) the markets go straight to circuit breaker mode within 5 minutes.

Fri, 01/28/2011 - 13:12 | Link to Comment SheepDog-One
SheepDog-One's picture

I think thats correct, I remember 6 months ago at a CFR meeting Rockefeller SAID theyre quite nervous about a 'global awakening' to them...now with riots and revolution and govts toppling the elites must really be scrambling. Without total compliance from the tax sheeple, theyve got NOTHIN!

Fri, 01/28/2011 - 13:20 | Link to Comment John McCloy
John McCloy's picture

Egypt had to bring the military in. This is a major capitulation and sign of fear. Meanwhile it is important to note that the military are still Egyptians and will likely not be taking bullets and firing them upon their own citizens to protect a corrupt power structure.

 

Fri, 01/28/2011 - 13:45 | Link to Comment Arkadaba
Arkadaba's picture

Apparently in parts of the country, the military is being welcomed by the protesters who are asking for protection against the police. Not sure how it will play out. 

Edit: AJ is reporting an unconfirmed rumour that the army is taking the side of protesters against the police.

Fri, 01/28/2011 - 14:52 | Link to Comment i.knoknot
i.knoknot's picture

at every city/riot, they're all dressed in black - same gear, same look & feel... almost like a global police force for hire... are these guys in black really the police? from egypt? or are they from blackhawk?

it occurred to me in greece - occurs to me again. who are these boyz behind the lucite/lexan masks?

(go gold!)

Fri, 01/28/2011 - 19:14 | Link to Comment Cathartes Aura
Cathartes Aura's picture

Its subsidiaries also have new names: Blackwater Airships is now Guardian Flight Systems, Blackwater Target Systems is GSD Manufacturing, and Blackwater Lodge and Training Center is the U.S. Training Center. The company also shed its bear-paw and crosshairs logo, for a stylized rendering of the name "Xe." The new head of Blackwater / Xe, Gary Jackson, told employees, "Xe will be a one-stop shopping source for world class services in the fields of security, stability, aviation, training and logistics." [2] However, in June 2010, Xe announced it would be pursuing a sale in part because rebranding efforts failed to change opinions of the company, most critically inside government, which is its main customer [1].

http://www.sourcewatch.org/index.php?title=Blackwater

safe bet Xe or whatever it's re-branded as, will be in the employ of the elite as long as is. . . necessary - dress 'em in black riot gear, complete with facemasks, any fascist state can "safely" employ their services.

who needs the "school of the americas" when you have mercenaries at your beck 'n' call. . .

(and the "school" has been rebranded too - "Western Hemisphere Institute for Security Cooperation" ahhhh, yeah.)

Fri, 01/28/2011 - 22:13 | Link to Comment i.knoknot
i.knoknot's picture

scary stuff.

btw, i bookmarked your mansanto stuff yesterday - tnx! just as scary, if not more-so!

cheers always!

Fri, 01/28/2011 - 13:42 | Link to Comment flacon
flacon's picture

CFR Meeting: Zbigniew Brzezinski Fears The Global Awakening

http://www.youtube.com/watch?v=oDBlABD01U0

Fri, 01/28/2011 - 13:50 | Link to Comment flacon
flacon's picture

Brzezinski: "Its easier to kill a million people...than it is to control them"

http://www.youtube.com/watch?v=wKzEpQc-yo8

 


Fri, 01/28/2011 - 14:00 | Link to Comment downrodeo
downrodeo's picture

.  gahh, you beat me to the punch yo! Straight from the horse's mouth.

Fri, 01/28/2011 - 13:33 | Link to Comment Arkadaba
Arkadaba's picture

Wowzer me too. Extreme, potentially revolutionary, changes in the Middle East and North Africa, markets actually reacting as logic would dictate and I received my pink slip this morning! 

Fri, 01/28/2011 - 13:45 | Link to Comment CrockettAlmanac.com
CrockettAlmanac.com's picture

I hope you'll be OK.

Fri, 01/28/2011 - 14:01 | Link to Comment Arkadaba
Arkadaba's picture

Thanks! I'll be fine. I was at a start-up so knew the risks. And have been thinking about doing something on my own for a while - and if that doesn't work I have both tech skills and biz dev skills. Going on holiday to the Caribbean next week (planned a while ago) which will give me some space to figure out what's next. 

Edit: Though I may break my rule of no cocktails before 4:00 pm today :)

Fri, 01/28/2011 - 14:19 | Link to Comment CrockettAlmanac.com
CrockettAlmanac.com's picture

I highly recommend the freelance and self employment routes. Cheers!

Fri, 01/28/2011 - 14:24 | Link to Comment MsCreant
MsCreant's picture

Pink slip, very fem.

Lots of folks hang here for a bit while unemployed, vent, and then get jobs and leave us. It is where some of the old timers "go" when they leave, back to work. 

Enjoy your drinks and your trip.

We are here, love it or hate it. Keep us in your loop.

Fri, 01/28/2011 - 14:24 | Link to Comment ColonelCooper
ColonelCooper's picture

I broke it for you at noon.

Fri, 01/28/2011 - 14:54 | Link to Comment i.knoknot
i.knoknot's picture

++ lol!

see how supportive we all are?

what a crew :^)

Fri, 01/28/2011 - 17:18 | Link to Comment RockyRacoon
RockyRacoon's picture

Cheers!

Fri, 01/28/2011 - 17:40 | Link to Comment RockyRacoon
RockyRacoon's picture

Cheers!

...ooops.  Make mine a double I guess.

Fri, 01/28/2011 - 19:26 | Link to Comment Cathartes Aura
Cathartes Aura's picture

change is inevitable, only the timeline varies - enjoy your holiday away, refresh the brainwaves, dream up your next move - I can echo the "go self employed" line. . . best wishes!

Sat, 01/29/2011 - 00:46 | Link to Comment Arkadaba
Arkadaba's picture

Thanks for the good wishes all! Will keep in touch. Liking this vid right now:

http://www.youtube.com/watch?v=jHPsagwgBaM

Fri, 01/28/2011 - 13:12 | Link to Comment Hondo
Hondo's picture

No white cows today.....the swans are flying

Fri, 01/28/2011 - 13:17 | Link to Comment Turd Ferguson
Turd Ferguson's picture

"What kind of idiots are running this market if someone is surprised by what is happening today?"

Exactly.

Fri, 01/28/2011 - 13:25 | Link to Comment Miss Expectations
Miss Expectations's picture

Turd,

I wasn't too sure of your $1320 bottom call, so I bought at $1321.

Thanks.

Fri, 01/28/2011 - 14:56 | Link to Comment i.knoknot
i.knoknot's picture

so... would it be too out-of-line to assume that Turd is causing all of this rucus in egypt just so his predictions will... ?

:^)

 

Fri, 01/28/2011 - 16:43 | Link to Comment StychoKiller
StychoKiller's picture

Notice how Turd shows up when Mubarak can't be found?  Hmmm...

Fri, 01/28/2011 - 14:25 | Link to Comment ColonelCooper
ColonelCooper's picture

Happy Birthday, Turd. 

Don't let anybody get you down.  Ever.

Fri, 01/28/2011 - 17:42 | Link to Comment RockyRacoon
RockyRacoon's picture

Hey, if you're a Turd there isn't much downside.

Fri, 01/28/2011 - 13:24 | Link to Comment Overpowered By Funk
Overpowered By Funk's picture

Anyone notice how hard CNBS is trying to diffuse gold? They interview two folks with bearish opinions on gold and the a scroll with " gold and oil down on Egyptian riots ". Shortly there afterwards corrected to gold and oil up, but someone there is definitely wishn' and hopin'.

Fri, 01/28/2011 - 13:35 | Link to Comment TradingJoe
TradingJoe's picture

Oil is up because everyone thinks the suez will be blocked and oil will take longer to get to its destination, once we all realize that consumption will be also down due to THE LACK OF MONEY on the side of the consumer....wooooosssshhhhhh, same for gold and silver and all other commodities! Be, become or stay long physical, short the crap out of paper, then turn around and get some more physical, you'll have enough to do so! I am only hoping for an "orderly" SWAN not a quick, chaotic one!

Fri, 01/28/2011 - 13:39 | Link to Comment JW n FL
JW n FL's picture

Guns, Ammo, Food and then Gold..

shorts in PM's will be crushed... flight to safety will build this year (http://english.aljazeera.net/watch_now/)

got a water source, that you control? better get physical!

got a power source, that you control? better get physical! Help Leo's solar stocks, I like wind per watt cost.. but whatever.. gets your lights on at least part time.

Fri, 01/28/2011 - 13:44 | Link to Comment bronzie
bronzie's picture

"The Russell view - It's virtually impossible to successfully time in-and-out trades during an ongoing primary bull market.  Usually what happens is that the trader has moved out of the market just as the bull trend resumes.  Thus, the bull market does what it's supposed to do - advance while leaving most traders and Johnny-Come-Latelies behind."
Richard Russell, Jan 26, 2011

50 years of market wisdom being proven true today ...

"It never was my thinking that made the big money for me.  It always was my sitting."
Jesse Livermore

Jesse learned the same lesson that Richard is sharing with us - take a position and wait for the primary trend to fully express itself

the primary trend in gold will continue for another 3 to 10 years

Fri, 01/28/2011 - 17:57 | Link to Comment Quintus
Quintus's picture

"Be right, and sit tight' - my favourite Jesse Livermore quote.

Fri, 01/28/2011 - 13:48 | Link to Comment savagegoose
savagegoose's picture

USD is flight to safety, looks like some people, ie the ones with most of it. still see usa as a safe place to stash your wealth.

Fri, 01/28/2011 - 13:50 | Link to Comment buzlightening
buzlightening's picture

Fleeing politicians loading up on benron burnokio bucks trillion bearer bonds!! Redeemable at any micky d's world wide dollar menu!

Fri, 01/28/2011 - 13:52 | Link to Comment Nout Wellink
Nout Wellink's picture

Where is robotrader? I bet he has some nice graphs showing how paper garbage is getting hammered by the real stuff, i.e. gold, silver and oil.

Fri, 01/28/2011 - 13:52 | Link to Comment Johnk
Johnk's picture

But Joe Terranova said the other night that buying gold now was foolish.  I can't wait to see what he has to say tonight!

Fri, 01/28/2011 - 14:41 | Link to Comment TeMpTeK
TeMpTeK's picture

Dont forget the fool on the prop desk who added to his gold shorts yesterday...

Fri, 01/28/2011 - 14:42 | Link to Comment TeMpTeK
TeMpTeK's picture

Dont forget the fool on the prop desk who added to his gold shorts yesterday...

Fri, 01/28/2011 - 13:56 | Link to Comment savagegoose
savagegoose's picture

USD is flight to safety, looks like some people, ie the ones with most of it. still see usa as a safe place to stash your wealth.

 

oh looks like someone just ermm

http://www.reuters.com/article/2011/01/28/precious-fund-idUSLDE70R0TH201...

missed out on a lot of moola

Jan 28 (Reuters) - Hedge fund SHK Asset Management liquidated a U.S. gold futures position this week valued at over $850 million, more than 10 percent of the main U.S. futures market, the Wall Street Journal reported on Friday

Fri, 01/28/2011 - 15:34 | Link to Comment Bay of Pigs
Bay of Pigs's picture

This guy running this $10M fund was margined to the hilt long in futures and he thinks he can beat Jamie, Blythe, the Flying Monkeys and the 800lb Gorilla of JPM? Against the backdrop of total regulatory capture? (SEC & CFTC).

Good luck with ALL that...

Fri, 01/28/2011 - 13:57 | Link to Comment cat2
cat2's picture

It must be snowing somewhere.

Fri, 01/28/2011 - 14:16 | Link to Comment buzlightening
buzlightening's picture

Heard paid pimp dennis fartman called a cnbs 1311 in gold today!!  Must be so as the wonk goes up and down wall street kissing booty tonight!! Frankly I don't subscribe to wonk channels as I enjoy the truth!!

Fri, 01/28/2011 - 14:18 | Link to Comment tellsometruth
tellsometruth's picture

where is goldmiddlefinger?

Fri, 01/28/2011 - 14:28 | Link to Comment ColonelCooper
ColonelCooper's picture

You mean Johnny Bravo?  Probably either still at class, or his mom made him clean his room.

Fri, 01/28/2011 - 14:18 | Link to Comment Bastiat
Bastiat's picture

JP Morgue busted a few traders but the reaper is coming for those sleazebags.

Fri, 01/28/2011 - 14:22 | Link to Comment JonNadler
JonNadler's picture

Appalling Smell, Where are you? Not reporting to work?

Wait til Jamie hears about this!

Fri, 01/28/2011 - 14:39 | Link to Comment ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

Gold shorts getting Monkeyhammered today.

Fri, 01/28/2011 - 14:51 | Link to Comment the grateful un...
the grateful unemployed's picture

if you wanted to short gold today is probably the day to do it. news events like this have a one day shelf life. by monday the Bernake will have SNAP and section 8 for the residents of Cairo, Egypt will be selling bonds, and all will be right with the world again.

Fri, 01/28/2011 - 15:03 | Link to Comment Hulk
Hulk's picture

Where have all the gold trolls gone? Fucking clueless cowards they are...

Fri, 01/28/2011 - 15:05 | Link to Comment tmosley
tmosley's picture

They'll be back the next time we get a $2 fall in gold.

Fri, 01/28/2011 - 15:54 | Link to Comment ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

Aint that the truth.  Ain't that the f*cking truth...

Fri, 01/28/2011 - 15:38 | Link to Comment Hephasteus
Hephasteus's picture

Hulk. Gold bugs just grab a gun when there's a strange noise in the house. Market participants have to tighten stops, pray, yell at the screen.

They'll be back when the dust settles.

HFT stock buying.

http://cheezburger.com/aMelange/lolz/View/2682387456

Fri, 01/28/2011 - 15:05 | Link to Comment d00daa
d00daa's picture

Smailes?? SMAILES???  Where the fuck are you?????

Repubnicunt??  goldmiddlefinger????

 

worthless bitchez...

Fri, 01/28/2011 - 16:36 | Link to Comment tmosley
tmosley's picture

I guess JPM had to outsource their internet trolling to Egypt.

That'll learn em!

Fri, 01/28/2011 - 15:29 | Link to Comment lemonobrien
lemonobrien's picture

This is caused by the turmoil in Egypt; when people are scared; they turn to gold.

Fri, 01/28/2011 - 16:54 | Link to Comment Flatchestynerdette
Flatchestynerdette's picture

with egypt leaders leaving with all their gold, they'll have to sell it to buy a house, a few thousand housekeepers, bodyguards, etc, and so the price goes down short term. I wonder how china is feeling today - US treasuries are worthless and the gold it told every citizen to buy at peak prices are dropping. Unrest there too?

Fri, 01/28/2011 - 16:57 | Link to Comment Federalist45
Federalist45's picture

Gold bump expected, even without turmoil.  Short term bearish--should go to 1250 or even less.  Long term bullish--to 2500 by end of 2012.  However, Egypt, Tunisia, Russian bombings, Manila bombing, etc. . . .  certainly will impact PM prices, stock markets, dollar.  If the Suez is closed, and oil has to go around the Cape, what will that do?  Lots of moving parts to this.  

Sat, 01/29/2011 - 03:02 | Link to Comment Grand Supercycle
Grand Supercycle's picture

My earlier warnings of a Gold + Silver correction confirmed.

Gold + Silver daily chart has gone sideways while a right hand shoulder develops on the possble head and shoulders pattern on the weekly chart.

Weekly indicators still warn of significant Gold and Silver downside.

 

http://stockmarket618.wordpress.com

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