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Gold Surges Even As Overnight Futures Ramp Job Seeks To Confuse SkyNet Into Xanaxed Sense Of Calm
Gold is accelerating its move in the upchannel as it seeks to recapture early December record highs of $1,226 quite soon. When a Greek bailout is announced over the weekend, we fully expect a massive spike in Gold as the EMU experiment is pronounced dead and buried.
In the meantime, with Liberty 33 unwilling to risk a, gasp, downprint...ever... the overnight ramp job could not be any less obvious.
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Are you looking at the out of hours Dax futures manipulations ZH? They are also getting pretty blatant!
It's down to a 2 horse race; Gold and bucky. US debt is just as untenable as European debt but Uncle Sam just has more tools in his chest to obfuscate and defer. This too shall end. At which time, it'll be a one horse race. Little wonder the Chinese are quietly accumulating bullion at a reserve level and are encouraging their populace to do the same.
No longer even any attempts to hide this kind of stuff. Everybody knows the regulatory agencies are in on the game, no need to pretend anymore. Presumably the majority either doesn't understand, or is just happy to see recovery in their portfolios.
Can't kill gold, though, without tipping the market over, which apparently is now too risky a proposition to be allowed, even worse than letting gold run up.
Motive for market suspension: Extremely high correlation between consumer sentiment: future expectations and the stock market performance. Going into mid-term elections later this year, as an incumbent you do not want a low consumer sentiment for future expectations. Question is, can they keep the balls suspended until then. My bet, overall,..yes. It'll take a political decision from overseas to upset the applecart. Likely why China is getting a pass on currency manipulation. They hold the biggest political get out of jail card right now for they above all others could easily upset the applecart.
"...or is just happy to see recovery in their portfolios."
Bingo.
I see the witches and trolls came out around midnight to haunt the futures. What is staggering is the level to which the insanity can grow when nearly everyone is dependent upon the insanity for their compensation.
It is no longer just a few small voices in the night who are pointing out that the emperor has no clothes. It is now "respected" members of the hive itself who are asking for an explanation for the insanity. The longer the hive resists these calls for transparency, the more dramatic the exit will be when the group think meme reverses.
My original thinking was that 'they' would be better off allowing, or triggering a normal consolidation, to keep the ramp going on longer. But then two things occurred to me. With all the problems brewing under the surface, any attempt at a controlled consolidation could get out of hand and turn into a bigger selloff and psychology reversal pretty quickly. And second, if you actually have a substantial degree of control over the markets (see chart above) and expect a bigger break on the next reversal, then why not push it as hard and as far as you can, generate the parabolic spike, draw in all the suckers, and then take the big profits on the downside. Based on the action in both the overseas and North American markets, thats what it looks like to me, hard as it is to believe that anybody could buy into a 'fundamentally driven' parabolic blowoff top given the situation right now.
I agree on both points. And it's hard for you and I to believe anyone could buy into the insanity because we are not fully indoctrinated and compliant hive participants, meaning we are independently minded and use critical thinking skills and logic. Notice I didn't say we were not in influenced by the hive, just that we aren't completely controlled by the hive.
But don't underestimate the magnitude of the pull the group think impulse has on not only the average Joe but also the professional investor or just the professional white collar worker. The more highly educated and/or skilled a person is, the higher the likelihood the person will convince him or herself that they're aware of the dangers and thus they're not subject to the influence.
Never underestimate the magnitude of self deception and delusion we are capable of. Never! This is why I'm always harping on denial as a fundamental influence and motivator of the human psyche.
True, I would say most of the current move is driven by professionals in the business. It never ceases to amaze me (every time I talk to one of them) how much faith they have in the integrity of the system and the power of the FED to make things better, and how much they simply accept the MSM version of events at face value.
The funny thing is, if you ask them how we're going to get out of this debt/liquidity trap without a giant dislocation, at first you get 'pseudo rational' canned answers that on the surface might make sense. But probe a little deeper and push at the weak spots, and the answers uniformly degenerate quickly into 'things can't get really bad because that would be too terrible to contemplate'. As you say, denial is incredibly powerful.
It is extremely emotionally difficult and ego deflating to subvert and/or reject, to no longer believe in a system upon which you're not only dependent upon for your income BUT also your ego reinforcement, social status and worldview. Both income and ego are constantly juggling for supremacy in your mind. Look how many times we hear about surveys that show people will accept little or no raise as long as they receive a "higher" or "better" title.
The interplay between the ego and denial is powerful.
I came to the same conclusions. They see huge volume when there is a sell off and it could really snowball. The manipulation is ridiculous.
I think the whole market going up when countries themselves like greece are about to explode is all the evidence you need of ramping
I knew it! My symantic algo has proven what I have long suspected. Tyler Durden is......STEVE LIESMAN!
Ultra deep under cover!
Tyler Durden is......STEVE LIESMAN!
I'm going to throw up now. I can't handle the truth!
Take possession of physical, NOW.
9:52 update: NY cartel just did a $6 take down in 30 seconds. Whoa.
http://jessescrossroadscafe.blogspot.com/2010/04/intra-day-pattern-in-gold-trading.html
Gold usually moves up overnight anyway. Most all of the takedowns occur when the goons at the NY Comex open for business.
Your logic is astonishing.
Okay, so stock futures can only be manipulated in the afterhours, as they can only go up when nobody can trade them.
Yet, when gold does the same the afterhours ramp, it is only the afterhours ramps that are legitimate, but the "manipulation" occurs when the markets are open and the price falls.
Wow, I love the logic in this place.
MB,
the difference is that the market for gold is international and the price action points to Asians buying during their day, thus the price goesup. During US trading hours somebody is selling and the price goes down.
The difference to US stocks is that the liquid market is during US trading hours while the market is thin at night. Price movements are easier to obtain in a thin market.
I do not see your problem with Bee's observation
Bates if you looked at Gold price everyday you would notice that on a rather regular basis gold goes up in Asia and down london/NY time. I am not going to argue with you about it, it is something a lot of people have noticed.
Well, then that makes sense to me.
Silver moving faster than gold
As we navigate the currentseas:
Silver is the Argonaut. Oil is the sail. Gold is the ancor. We are looking for new lands.
That's beautiful, man.
Hi all. can you please link me the main articles by zerohedge (or others) which summarizes the mechanism in the overnight manipulation in the ES? You know, my scientific supervisor is an old-faschioned guy and therefore need "references"(!) for my mid-term paper. Can you please give me some of them? Thanks for your help!
That's a tall order Ms. Watson, but I think I can get this to you by Monday morning. Is that okay with you?
yes it would be perfect ! Thank you again
Great. Just let me make a few phone calls first. I have to cancel a birthday party, and also I'll need to reschedule my dentist appointment.
I LOVE THIS PLACE!!!!
Nice!
Sometimes you cast your troubles into the ocean and get a single crab that crawls up on the beach and pinches you in the ass. But I here google will help or elgoog if you are in china.
They wait till it is the middle of the night and no US traders around (who have left stops in place on positions), then they sneak up on when no-one is looking and use a small amount (by comparison for their massive account size) then put a few buys in which starts the dominoes which are the stops falling.
If the dominoes stop falling they just buy a few more and knock over some more stop dominoes.. and there you go... little money, thin market, stop orders, no other traders about and ... wheeeee, off to the moon they take it
While we're asking for evidence for our papers...
I'm writing a paper with one premise being that the labor market hasn't expanded at all over the last decade. I know we've all seen this information everywhere, and it's pretty "common knowledge."
However, I am having trouble finding citations for this fact, even after being on google for hours yesterday. Isn't that weird?
Anyway, does anybody here know a quick link that the number of jobs in the 2000s was basically stagnant? I need it for my B school paper.
Please and thanks!
have you looked at calculatedrisk or mish?
Shadowstasts.com?
Try the participation rate too.
MB, I mean this not in a negative sense. These traits can be very helpful if you want to learn, you dig? You are not only Sadistic, but Masochistic. You have posted on a gold thread well knowing we would fight. So GOLD BITCHES! Good luck with your paper. It sounds well informed, informational, and correct. Stick with that stuff while you continue with your learning curve on other subjects.
Thank you very much to all that responded! I looked around Mish's, but I'll check the other places out as well!
as a gold/silver bug..
where do you all park you mad cash at??
http://www.everbank.com/001CurrencyCDSingle.aspx
Brazil & South Africa is paying
Iceland paid great...LOL
DOW / SP500 daily chart gives bullish signals as of Friday 9 April. Weekly chart still trends up but continues to warn of an overextended bear market rally.
http://www.zerohedge.com/forum/latest-market-outlook-0
http://i39.tinypic.com/34y4k6t.png