Has The Gold Bubble Burst? Either Way, Geithner Is Now Scroomed
A 4% move in 4 hours. At least with the gold bubble out of the way, stocks are fully apprised of what to anticipate. Somewhere Tim Geithner is congratulating himself for a strong dollar job well done. Of course, this does little to resolve the several trillion of worthless crap on bank balance sheets whose "value" just went in the non-FDIC preferred direction. And thus the Sec Tres is reminded why he is scroomed: there is no way out now - either jobs have to revert to trendline (the BLS would need to, ironically, hire humans over Kool-aid infused monkeys to do the next data analysis), or banks will be soon knocking on Sheila Bair's door, reminding that they were just kidding about that TARP payment. In that sense Napoelon Iceman Dynamite, Fred Mishkin is correct that gold is merely a sideshow.
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on Fri, 12/04/2009 - 14:27
#152758
Is it not patently obvious what is happening: bernanke is basically being endored up until the point that it becomes totally intolerable at which point JD rides in and the massive dollar spike - by this time they hope the recovery will be well undeway and the expected dollar spike and equity tank correlation perverts as econodebt 3.0 takes flight.
on Fri, 12/04/2009 - 15:14
#152872
+++rep .... love the prose.
on Fri, 12/04/2009 - 20:18
#153451
Wait, I thought the gold "bubble" burst in 2008?
on Fri, 12/04/2009 - 21:22
#153531
I thought it was 2006
on Fri, 12/04/2009 - 14:30
#152765
BB telling TT "I didn't think anyone was watching what the other hand was doing.
on Fri, 12/04/2009 - 14:31
#152768
Great opportunity to add some more.
on Fri, 12/04/2009 - 20:17
#153449
You probably right. This week the spot pog is only down -1.31%.
on Fri, 12/04/2009 - 21:12
#153516
The gold weekly and monthly charts do not look that bad.
on Fri, 12/04/2009 - 21:16
#153522
http://finance.yahoo.com/techticker/article/384959/Don%27t-Fear-the-Fed:-Stocks,-Gold-Still-a-Buy,-Bernie-Schaeffer-Says
on Fri, 12/04/2009 - 14:33
#152772
this is a preview of what will happen to equities if the Fed even moves one inch on rates or QE.
on Fri, 12/04/2009 - 16:36
#153085
In the end, they don't are about equities. It's just another asset bubble they choose not to recognize for now.
I really do think that there was general agreement to ignite the equity markets, in the hope that higher prices and "less bad" economic data would miraculously start the self-sustaining growth engine all over again.
To this day, there are a whole lot of people not buying in on the idea. And perhaps, given the unreal headline numbers in the employment data today... you just wonder how more "new believers" are really left to hold bags.
on Fri, 12/04/2009 - 17:00
#153138
General agreement? I think there was outright equity market manipulation.
Think about it - when the average person thinks about the Great Depression, what do they think about first? The unemployment rate? The decline in world trade?
No, I would bet that 99% of people think of the stock market decline. To most people, Great Depression = Decline in stocks.
Bernanke knew this. So how to avoid the second Great Depression? Drive up the price of equities.
Not to mention the practical reasons for doing so (which to be honest were probably the primary reason for intervening in the equity markets) - many pension funds, insurance companies, endowments, etc would be destroyed if the S&P sank to 400.
There is no question in my mind that the Fed was involved in the equity markets from March - June. And of course destroying the dollar was a big help as well as it drove up the price of commodities, etc.
But that was yesterday's news. The question of course is what to do going forward?
To your point, a lot of people don't buy the recovery story, because there is no recovery. Our economy is fundamentally broken - we have far too many people living far too rich a lifestyle given the underlying wealth generating abilities in our economy. to maintain our lifestyles, we not only need debt to remain steady, it needs to grow.
That debt growth can only come from one place - the government. Which will kill the dollar, because we will need to print money to suck up all the debt. We can't afford a 10 year Treasury rate of even 6% anymore.
Which means I am more than happy to add to my gold positions on a day like today.
on Fri, 12/04/2009 - 21:48
#153553
agree to all - and I also suspect that the TARP funds were used by the banks to buy each other's shares on the low end in march and now that they are boiler room hot, they get to unload them in offerings and zombie 401k's that are forced to buy every two weeks no matter what the prices are
great way to rob the blind - make a profit and pay back the TARP
on Sat, 12/05/2009 - 02:04
#153727
I do agree with ghostface's view the Fed's involvement, and probably wasn't too in calling a spade a spade. In reality, there are likely several parties involved in allowing to get from Point A to Point be. There's a 99% chance the the U.S. Treasury was involved in those activities.
And I clearly agree with dark pools here about the financing window. I think a major push behind the sponsored equity rally was primarily a mechanism for weak companies to buy time and have a financing window available to them to create more cushion. Quite frankly, I am a little suprised the window is still open-- though the dollar has taken some direct hits.
As for gold, I have a 40K foot view of the world that probably only make sense to me. As the Fed went on its deflation tear, they knew they would have structural issues of keeping the dollar intact and risk some very severe international problems as a result.
They may not have intended for the dollar to get to this level so soon (or gold going to the $1200 level for that matter)-- but I get the sense they expected (hoped) that there would be turmoil in the international markets that would ignite a global flight to safety to help fund massive Treasury issue needs at lower interest costs. That hasn't happened yet, but perhaps Dubai is a precursor.
What I do have a lot of confidence in, however, that gold is a solid bet long term-- for the mere reason that reflation via money printing is the ultimate answer.
We can go through brief periods of deflationary deleveraging-- which would tank equities, but give needed strength to the dollar. But the economy cannot handle the strains of that for long, and reflation becomes part of the game again.
Or we can let the dollar go to hell in a handbasket, causing other nations to take unfriendly actions (i.e. Japan selling Tresuries) and risk a dangerous currency run. That's a very dangerous course to continue.
Bottom line, gold eventually wins in either scenario. The major difference being that first option means gold will correct to values in realtion to a temporary stronger dollar. Such a move would be brief-- and I would doubt that longer term moving averages on gold would change their positive course. Continue printing, and gold will get to $5,000 in a hurry... and all political incumbents are at risk in 2010 and 2012.
on Fri, 12/04/2009 - 14:37
#152782
Sheila's door is always open.
on Fri, 12/04/2009 - 14:44
#152794
But nobody's home.
on Fri, 12/04/2009 - 14:42
#152784
I suspect gold to rise again once it hits Sydney/China time. Large drops in gold have almost always happened NY FED time, this is no real surprise imo.
Also something I just noticed American 1oz Gold eagles 100 dollars over spot!? Used to be 49.99...WTF????
on Fri, 12/04/2009 - 14:49
#152803
the US Mint didn't release any this week...supply is dwindling.
on Fri, 12/04/2009 - 16:08
#153019
Screw the Eagles. Buy Krugerrands, only spot + 50.
on Fri, 12/04/2009 - 17:58
#153253
Screw that, Credit Suisse bars at spot + $23.95 at Tulving. Of course those with a bit deeper pockets should get JM Matthey kilo bars for spot + $8.95 per oz.
Disclaimer, do not work Tulving, etc. Just that he always has the best deals, ships free and fast, excellent reputation, etc.
on Sat, 12/05/2009 - 00:36
#153680
Love the Tulving. Something to think about next in terms of the dollar and PM prices. $121 Billion in Treasury auctions usually means stronger dollar and lower PMs. I think late Thursday and Friday activity are precursors to what's in store for next week. I am waiting until late next week to add PMs and miners.
on Sat, 12/05/2009 - 12:36
#153918
Now that the US Mint has sold out of Eagles, premiums have gone through the roof.
Just last week Austro-Hungarian 100 Corona gold coins (.98 oz) could be had for premiums of under $9 per coin. Now it is $19.95 per coin.
on Fri, 12/04/2009 - 14:40
#152787
You may now return to your reguarly scheduled nonsense.
on Fri, 12/04/2009 - 15:35
#152930
Buddy, buddy! Have you bought some Gold lately?
on Fri, 12/04/2009 - 17:00
#153139
The funniest thing I have read all week.
on Fri, 12/04/2009 - 14:40
#152788
Burst?? Wtf? It's not even inflated yet!
It could go down to 1089 but it will get wild after that. Read Jim Sinclair's page
on Fri, 12/04/2009 - 14:43
#152792
Call bullshit.
You just saw all the ammo. The whole clip. No spares maybe they make a tiny reload in a few days.
on Fri, 12/04/2009 - 14:50
#152805
It's Barney Fife, with that one bullet he keeps in his pocket.
on Fri, 12/04/2009 - 15:12
#152866
If I were running a eastern hemisphere country. I'd be dumping my treasuries on the market in concert with huge fed auctions. If it moves gold this much. Why pay the greedy stinking IMF top dollar for gold.
on Fri, 12/04/2009 - 16:43
#153101
Exactly.
on Fri, 12/04/2009 - 17:08
#153157
All morning I kept imagining China and India salivating as gold descended.
on Sat, 12/05/2009 - 00:08
#153666
they can't wait for the bottom when the real dumping starts. Thats when china buys.
on Fri, 12/04/2009 - 14:41
#152789
We will make new equity lows according to my charts and my USD indicator has been giving BULLISH warnings for some time and I'm still expecting a dollar rally.
My indicators can identify trend changes before they occur.
They warned me of an impending market crash back in early *2007*
http://www.zerohedge.com/forum/market-outlook-0
on Fri, 12/04/2009 - 14:55
#152814
They say the dollar short position is crowded but it seems to me that the dollar bounce position is even more crowded. It is good to hear that you are perfect.
on Fri, 12/04/2009 - 15:04
#152833
"dollar bounce" is a crowded trade? Uh.. where?
on Fri, 12/04/2009 - 15:06
#152835
Go away, spam supercycle.
on Fri, 12/04/2009 - 17:29
#153201
but leave your avatar
on Fri, 12/04/2009 - 15:08
#152847
Methinks this *is* the dollar rally.
But I don't have any 'indicators' so what do I know.
on Fri, 12/04/2009 - 16:22
#153054
Identify trend changes before they occur, eh?
So can BB width spikes, you know.
Read Murray Gunn's book.
I Am Not Impressed.
on Fri, 12/04/2009 - 17:03
#153148
what does your "indicator" say about the $1T in fannie/Freddie MBS that needs to find a home next year?
on Fri, 12/04/2009 - 18:13
#153285
dunno about that, but his 'junk' indicator is now in double digits.
on Fri, 12/04/2009 - 20:07
#153441
I've sort of been waiting for this blanket party for a long time.
on Fri, 12/04/2009 - 21:20
#153527
Please stop the plagerism of Bob Precther's Elliot Wave analysis.
on Fri, 12/04/2009 - 15:07
#152791
All this for Bernanke's testimony and reduce the impact of Ron Paul questioning the Chairman on a strong dollar and the price of gold.
Blatant manipulation, showing congress the fed is boss.
In addition, the comex must shake loose the weak hands and leveraged positions to decide not to take delivery (hit stop limits) or the comex could default from lack of physical. Last Friday and this friday are attempts to do that.
Can't wait for the Project Mayhem piece.
on Fri, 12/04/2009 - 15:10
#152856
For sure, it appears to be a glaring display of market control by the shadow government criminals. Recognize this must stop.
on Fri, 12/04/2009 - 14:44
#152793
But...but..there must be some mistake here, it was only two days ago Goldman said gold was going to $1500 an ounce?
on Fri, 12/04/2009 - 14:45
#152796
OT; Update on Climategate
See notes. CCS technology is just plain stupid. The Biosphere loves CO2.
CNN Two Weeks Late in Reporting on Climategate 12-4-09
http://www.youtube.com/watch?v=2M7zqof5KYI
on Fri, 12/04/2009 - 16:52
#153127
thanks, Michael.
on Fri, 12/04/2009 - 17:09
#153158
Thanks Michael, not sure why someone flagged this as junk, there is far too little reporting in the MSM on Climategate. Anyone who cares about markets should care about Climategate, since the man made global warming hoax was a blatant attempt to transfer massive amounts of wealth from the masses to the elites. The actions of a few Russian hackers put all that in serious jeopardy.
on Fri, 12/04/2009 - 17:24
#153195
This is about a transfer of power. The wealth with come with the power for sure, but money is not driver. Control is.
on Fri, 12/04/2009 - 17:32
#153205
The reason why the MSM is not reporting it is the owners of the MSM. You don't bite the hand that feeds you. And besides a lot of people are into this like a religion. I know people that are more devout to Al Gore then most Christians follow Jesus.
Not sure it was hackers either. Personally I've believed it was insiders since day 1, but who knows I could be wrong. What I do like is the MSM is more concerned about pressing charges against the "hackers" over stealing and releasing the emails. Who cares what is in the emails?
on Fri, 12/04/2009 - 18:49
#153346
"not sure why someone flagged this as junk"
Ghost, are you kidding me? These climate koolaid drinkers are everywhere, yes, even in our own halls here at ZH. And, as to a few fudged stats, well..., after all, the end justifies the means.
on Fri, 12/04/2009 - 19:57
#153431
"The Biosphere loves CO2"
The ocean doesn't, and the world will find this out in this century when the calcium carbonate cycle is interrupted and the entire oceanic food chain collapses. The ocean has been acting as a CO2 sink since the beginning of the industrial revolution, i.e., it has been acting like the buffers you were taught about in high school chemistry class.
The oceans are no longer acting as a perfect buffer, and the consequences to those organisms that make their exoskeletons out of calcium carbonate will be their not being able to form their own shells - it can't be done in acidic water.
This is the greatest danger posed by excess CO2, along with runaway temps after the oceans totally quit being able to absorb CO2. It's basic chemistry, freshman ecology and biology, and it is definitely happening - no conspiracies needed.
on Fri, 12/04/2009 - 22:30
#153599
http://wattsupwiththat.com/2009/12/01/oh-snap-co2-causes-ocean-critters-...
CO2 was as high as 7,000 ppm when shell-based organisms evolved so
on Fri, 12/04/2009 - 22:48
#153616
Those where banner years also if you owned a marble slab making operation. All you had to do was sit back and wait for your great great great great .............. grandkids to get rich.
on Sat, 12/05/2009 - 01:26
#153713
Whatever, I'm not the least bit concerned.
We will adapt and continue to rule the planet. WTF do I care if some fish become extinct or the life in the sea takes a hit. Dude, have you ever looked at the fossil record? Most of those examples aren't around anymore.
Shit happens. Instead of focusing on how we supposedly destroy the planet and should now pay a pitance for it, we should invest into artificial ponds and concrete super shelters that can withstand the deadliest sunrays.
Party on, dude.
on Sat, 12/05/2009 - 03:05
#153741
Problem with this thesis is, as CO2 increases, phytoplankton would increase accordingly and process it into O2 and sugar. Frankly, we'd see a phytoplankton bloom if CO2 levels and ocean temps were rising. We aren't seeing that. Nor is there any credible evidence that the pH of the oceans are changing, all hype from the MSM and UN climate "experts" aside.
on Sat, 12/05/2009 - 21:05
#154181
do you realize how big the ocean is you moron, come back when you find a source of info, that is not generated by propagandists. ignorance is one thing, fanatically supporting it is another. are you a jehovas witness, or a scientologist?
on Fri, 12/04/2009 - 14:45
#152797
Comment #1) Grand Supercycle = plagerizing Bob Prechter repeatedly & without shame.
Comment #2) GOLD BITCHES!!!
on Fri, 12/04/2009 - 14:46
#152799
Burst?? Wtf? It's not even inflated yet!
It could go down to 1089 but it will get wild after that. Read Jim Sinclair's page
on Fri, 12/04/2009 - 14:48
#152801
I am grateful for the gold pullback and pray it continues! Gold to 1000! I have a long time horizon and not nearly enough PMs, I've been eyeing some fractionals from the Perth mint and waiting for my next paycheck.
A lot of us "goldbugs" are still being paid in paper and it won't break our hearts if paper goes up and allows us to buy more gold. Well that and I kinda like not having mass civil unrest....
on Fri, 12/04/2009 - 17:13
#153164
Amen, try as I might I have not convinced my employer to pay me in gold, so after my fiat expenses I still have some fiatcos to convert every two weeks.
What was the action about today? The market thought today's jobs report would sway Zimbabwe Ben from killing the dollar? LMAO!!!! He is a student of the Great Depression, he is absolutely paranoid of withdrawing liquidity too early. If we get four more years of Zimbabwe Ben, that just means four more years of ZIRP and QE.
on Fri, 12/04/2009 - 17:40
#153220
He's as much a student of the Great Depression as I am an astronaut. He is flat out wrong on the cause and effect of the monetary policies and government intervention during the Depression and the Roaring 20's. What I'm trying to figure out is one of two possibilities
1. Is Zimbabwe Ben simply the stupidest man to even be able to tie his own shoes? And he is so stupid that he doesn't know he is setting up America for a nightmarish collapse, all the while believing the insiders and giving them unlimited money
2. Is Helicopter Ben in on the scam, and his heist persona is that of a retarded academic who could not make an accurate economic forecast if he had a time machine.
Personally I'm leaning towards 2. I've met some brain dead professors in my tours through academia but I would like to believe on that level you weed out the truly stupid. Also I know Greenspan was a scumbag insider and not that stupid and Uncle Ben is just Greenspan v.2.
on Fri, 12/04/2009 - 18:11
#153281
I ask myself the same thing - is he stupid, or corrupt?
I lean towards #2 as well, based on his activities in the MBS market. What he is doing there is just too devious to be a bumble - he seems to know he can conduct 75% of his QE through that market and everyone will scream about the measly amount of Treasuries he bought.
on Fri, 12/04/2009 - 18:56
#153348
I don't know about you, but the look on his face while being grilled made me believe he is quite capable of an intentional act of Zimbobwafication just to flip us all off. He's certainly not going to suffer.
on Fri, 12/04/2009 - 14:48
#152802
Got to be more than 15 minutes old to understand this game. Pump Gold, Dump Gold, Buy Dollar. Reset.
on Fri, 12/04/2009 - 14:50
#152807
Hmm, this may just be a JPY debasement spike.
Or perhaps there will be some shockwave this weekend, and we're in for another Monday whipsaw.
on Fri, 12/04/2009 - 15:00
#152823
The Euro and Pound are both down as well...not sure what they're doing relative to each other though.
on Fri, 12/04/2009 - 14:51
#152810
Unless I am missing something, the December open interest has not come down much in this drop and in the end it is physical shortages that will be needed to offset the unlimited government paper shorts. If they cannot even find 5 Million ounces of silver to deliver by now it would seem that the market should still be bought on dips.
on Fri, 12/04/2009 - 14:54
#152811
This guy's take is that gold is moving ahead of FX even and serving as a call on US accomodative monetary and fiscal policy. There has to be a handoff at some point from the market going up based on free money, and the market going up cause of real money buying into the recovery thesis. I think this move now is the beginning of that handoff.
So its either stocks going up because of money printing or stocks going up because of "recovery" or stocks going up because of inflation...but either way, until the bubble bursts (againnnn) the most logical trend will be for stocks to go up.
on Fri, 12/04/2009 - 16:35
#153081
Steak,
in a real recovery Dow/gold should increase; in inflation it should decrease.
For now stocks are going up but gold is going up faster.
Yes, I did check the prices lately.
See http://stockcharts.com/charts/gallery.html?$INDU:$gold
on Sat, 12/05/2009 - 12:41
#153925
ALL major US stock indices measured in Gold topped in early August and have been trending down ever since.
So much for "stocks going up".
on Fri, 12/04/2009 - 14:56
#152818
I don't think China will let it go down too low.
on Fri, 12/04/2009 - 15:00
#152824
Wouldn't you know it? The two junior mining companies that I have my eye on are actually up today.
Just my luck.
on Fri, 12/04/2009 - 15:02
#152829
That'll teach you to look at things.
on Fri, 12/04/2009 - 15:08
#152846
I can't help it. This one eye is always open.
on Fri, 12/04/2009 - 15:09
#152852
lol
aren't you a bit worried about that knife thingy over there?
on Fri, 12/04/2009 - 15:29
#152911
Nah. He wouldn't dare.
on Fri, 12/04/2009 - 15:32
#152917
MUN-T and BTO-T? Buy them anyway, they would be up a lot more were it not for the gold selloff...
on Fri, 12/04/2009 - 15:36
#152935
I'll take a look. Thanks.
on Fri, 12/04/2009 - 16:14
#153031
Why are MUN-T and BTO-T up so much?
MUN up 20% today alone!
on Fri, 12/04/2009 - 15:02
#152827
I don't think China will let gold get too low.
on Fri, 12/04/2009 - 15:08
#152848
They want to buy more, and so do I. Hopefully under 1000.
on Fri, 12/04/2009 - 15:26
#152904
It it goes to 1000, this time i will buy some gold for wife.
on Sat, 12/05/2009 - 12:48
#153927
I buy wife with Gold.
on Fri, 12/04/2009 - 15:40
#152946
China will buy their gold off-market in IMF or private deals so as not to disrupt prices.
Also, they will buy all of their domestic production and just remove those sales from the market. I follow CB buying.
on Sat, 12/05/2009 - 12:18
#153903
Who is this handsome guy?
These Guy Fawkes dudes are so wise. Called the top two days ago when CNBC was screaming gold is a buy. Sometimes they make it too easy... no?
China's people, all billion +, are becoming the worlds largest consumers of gold. SO here we have two forces pushing gold consumption higher in one country.
on Fri, 12/04/2009 - 15:59
#152989
china one of the top 3 gold producers in the world. They double their gold reserve in past 3yrs to 1000+ mt, WITHOUT GOING TO MARKET. What does it teach us? 1. Chinese production numbers HUGLEY understated. 2. Chinese production numbers will continue to decline, if their appetite for gold grows 3. China will NOT buy from IMF 4. China will NOT buy from open market. If you want to find out what PBOC is doing - look at gold production in china and you will know joke
on Fri, 12/04/2009 - 15:02
#152828
Gold was way overdue for a correction (and that doesn't mean it's over). The underlying trend of increasing fiscal and monetary chaos and goatfuckery hasn't changed a whit.
on Fri, 12/04/2009 - 15:07
#152839
don't forget it is bank failure friday -over/under 6
on Fri, 12/04/2009 - 15:10
#152859
crap! I forgot about that...time to spool up the FDIC page...
on Fri, 12/04/2009 - 15:19
#152883
I just looked at the December 'CRA Compliance' list, and a thought occurred to me...I wonder if there has been any correlation between CRA compliance and subsequent failure? Or non-compliance and failure? Seems like with the CRA encouraging credit issuance, that creates more of a risk for the banks. But then maybe the CRA mandate means the banks with high compliance get on the short list for backstopping? Just wondering.
on Fri, 12/04/2009 - 15:12
#152867
Maybe I'm nuts, but put me down for zero
on Fri, 12/04/2009 - 15:30
#152914
Not nuts.
FDIC is broke... can't afford anymore failures for now.
on Fri, 12/04/2009 - 15:36
#152934
Ya now's not the time for regular false bravado. Now's the time to really hang your butt out. Napolean meet russia. Russia meet napolean.
on Fri, 12/04/2009 - 17:15
#153165
2 so far, both in Georgia:
PR-220-2009 State Bank and Trust Company, Macon, Georgia, Assumes All of the Deposits of First Security National Bank, Norcross, Georgia
PR-219-2009 State Bank and Trust Company, Macon, Georgia, Assumes All of the Deposits of the Buckhead Community Bank, Atlanta, Georgia
$270mil hit to the DIF total, so far.
on Fri, 12/04/2009 - 15:10
#152850
Nobody believes anything anymore. No one believes that employment magically went up, and no one believes gold is worth $50 USD less than it was this morning.
I think we are getting set for the mother of all dislocations.
on Sat, 12/05/2009 - 00:10
#153668
The low was over $80 down from the high 36 hours ago.
on Sat, 12/05/2009 - 01:00
#153699
Excellent and concise summary! Applies everywhere else as well.
on Fri, 12/04/2009 - 15:10
#152854
OT
The Man-Made Global warming Scam is all about stealing money from the sheeple.
Carbon Capture and Storage (CCS) is one of the major reasons for promoting the fraud of man-made global warming. Billions of tax payer dollars are now being spent to make a select few filthy rich from this useless technology. Senator John D Rockefeller is the major player behind this scam.
Rockefeller is a longtime champion of carbon capture and storage (CCS) technologies. Earlier this year, he helped secure $3.4 billion for the Fossil Energy Research and Development programs, including CCS research, in the American Recovery and Reinvestment Act.
http://rockefeller.senate.gov/press/record.cfm?id=317677&
on Fri, 12/04/2009 - 22:11
#153572
Man, WTF is your problem... seriously tired of reading your crap... so what 6 billion people on this planet ALL competing for the same resources aren't going to have a meaningful impact on earths biosphere??? WTF are you on, man???
We (our species) are slowly killing the very biological system that gives us life, and most of us simply don't give a damm. "ANY" efforts to minimize the impact of this destruction should be applauded and supported. Will some companies benefit from this transition, OFFCOURSE but at least they aren't making money at the expense of our future like the current fossil fuel regime is...
on Sat, 12/05/2009 - 00:06
#153654
seriously tired of reading your crap... Do you always read Mike's stuff looking for a different summation? You know what they say about that..
P.S.
These E-Mails pulled from your briefcase make for fascinating reading..
on Sat, 12/05/2009 - 01:32
#153716
6 billion people... have you counted them?
on Sat, 12/05/2009 - 04:40
#153760
Biodome-
It sounds like you are part of the problem with all the hot air you are releasing into the atmosphere. Based on your "any efforts to minimize the impact of this destruction should be applauded and supported" statement your moral relativity would justify ending your life to "decrease the surplus population" and help out the planet. You first.
Should we be good stewards and address our needed transition to natural gas from cheap middle eastern oil because peak cheap oil has passed, sure. Should we reduce pollution of mercury and other chemicals into our environment, absolutely. Should we tell a lie that CO2 is bad for the environment and causes global warming when the facts (unadjusted data) show that we have been cooling for the last decade, the polar ice caps have extended for the last few years, the sun is mostly responsible for fluctuations and that these fluctuations are natural, and many periods before the industrial revolution were warmer - NO.
A few relevant quotes from Rousseau:
Tell a lie often enough, loud enough, and long enough and people will believe you. - Hitler
Scientists and organizations have been pressured into accepting this false science and in cases acadamia has been bribed (grants, promotions, positions) to support it with money from the bankers. If the bankers could buy off key authority figures, they could convince the world to back their carbon trading schemes and implement the structure for global governance (including global taxes) tying together the command structure of banks and corporations.
You are trying so hard to try this case in the court of public opinion because you would fail in a real court. In fact, a truck driver in the UK sued because his child was shown the video in school and he argued it was not true. This is what the court had to say:
How marvelous. And what are those inaccuracies?
In the end, a climate change skeptic in the States must hope that an American truck driver files such a lawsuit here so that a U.S. judge can make similar determinations.
A list of 32,000 scientists that disagree with man made global warming, including 9,000 PHDs: http://www.americanthinker.com/blog/2008/05/are_32000_scientists_enough_...
They are manufacturing imaginary global problems where the answer to the imaginary created problem is "global government - global governance". They want a new world order run by billionaires, and this would be a global tax to support global governance including a transfer of wealth from these United States and a surrender of our sovereignty to global governance - Al Gore told Europeans that cap & trade was a vital first step in global government. Our leaders are compromised, bought or blackmailed into submission so the people must fight against this - we don't want more taxes and we don't want world government.
on Sat, 12/05/2009 - 12:37
#153919
Apocalypse Now---Spectacular response, with clear data and backup links,,,the way it should be ,thanx
on Sat, 12/05/2009 - 21:23
#154192
Thank you, for a breath of clean intelligence.
on Fri, 12/04/2009 - 15:16
#152863
looks like the high in March 2008; that means it will stick for a while and ultimately, it could go quite a bit lower... but I am in the deflationist camp at the moment
short some OTM calls like GLD 120 through 140 or do an OTM credit call spread, even with Decembers (where there is a bid) or Jans
on Sun, 12/06/2009 - 07:34
#154364
Andy, pardon the extreme ignorance on my part, I have a question:
WHy would one short OTM calls vs buy puts? Just curious.
on Fri, 12/04/2009 - 15:11
#152864
I'm not impressed by wave watchers. Sure, it was a big wave, but the tide is a whole other monster to watch out for. Wave watchers/day traders don't seem to understand the difference.
on Fri, 12/04/2009 - 15:19
#152874
also record GLD volume, the high will stick for a while, short them OTM calls, could go to 100, ultimately sub 90
on Fri, 12/04/2009 - 15:22
#152893
I was just about to comment about the volume, which is the heaviest as far as the eye can see.
on Fri, 12/04/2009 - 15:23
#152896
shut up or you will get junked again
on Fri, 12/04/2009 - 15:29
#152910
lol, tell me about it.
on Fri, 12/04/2009 - 15:38
#152939
Rosey Rule number X - Most of the public buys at the top.
on Fri, 12/04/2009 - 15:53
#152972
get junked on ZH is a badge on honor. unless marla does it in which case u r screwed (and not in the good way)
on Fri, 12/04/2009 - 15:57
#152982
spanked you mean, she collects the British schoolgirl videos if I remember correctly from Mr. Dover, either way works with Ms. Singer
on Fri, 12/04/2009 - 16:46
#153111
I don't understand why most people get stuck on just price. Its like they are half blind. Price is only half the equation. The other half is volume. Together you get the full picture. This is the reason why these big firms try their hardest to hide volume.
This chart says next leg down for gold (could be short term or long term).
on Fri, 12/04/2009 - 17:20
#153178
Andy,
even if I disagree with your take it is nice to hear a voice of reason.
The dispute will be settled by bullion.
If there is a shortage of bullion the price will trend up with a reaction here and there. Moreover, today silver acted fairly strong, that supports the bullish case too.
Todays action was as well in currencies as in metals; an intraday-Eur/Usd chart looks almost identical to gld.
My analogy from the chart is more that the outbreak at 1000$ is similar to the one in Euro at 350 Eu back in 2005. The top should be in spring, it is too early now.
on Sat, 12/05/2009 - 12:45
#153931
I was wondering about that silver too, will get a better feel next week
on Fri, 12/04/2009 - 20:36
#153473
Gold was flat for the week. BFD.
A flat week (after a freak friday) obviously means the beginning of the end. Short the OTMs.
on Fri, 12/04/2009 - 15:18
#152877
If one were to sue the Federal Reserve, what kind of lawyer would one need to acquire? Just out of pure curiosity.
on Fri, 12/04/2009 - 15:20
#152887
the Goldman Sachs legal department?
on Fri, 12/04/2009 - 16:00
#152990
Aren't they one and the same?
on Fri, 12/04/2009 - 16:49
#153118
A damn good one... with incredibly large cajones.
on Fri, 12/04/2009 - 17:12
#153162
"...with incredibly large cajones."
hmmm, that DOES throw a wrench in things doesn't it...Ok rephrase the question...
Hypothetically, if one were to choose to take the Fed to court, what area of law should one begin to read... hypothetically...
on Fri, 12/04/2009 - 17:50
#153240
Speaking as a lawyer larva this is an impossible task. To many hurdles and the litigation would drag on for 10+ years or more, there still litigating the Exxon Valdez spill BTW. You would have a million problems, personally I don't think as a citizen we could get standing to sue them. Also discovery would be a nightmare because they would invoke national security on your ass.
You might also run into a problem since the fed is public and private, so they might try to burn you by invoking sovereign immunity and not let you sue them. You could litigate if they have sovereign immunity, just add another 5 years+ to the lawsuit. Also assuming that we got through all those hurdles, then what? Even if they broke the law to my knowledge there is no punishments for doing so. But if you wanted to look at the law you would look at their charter and then try to push proof that they violated it. Or if you could get them for lieing under oath but that would be tough because you would have problems in discovery.
The legal system does not favor the little guy.
In short the dollar will be toast and the banksters will be offshore on their private islands drinking on the beach long before it could wind through court. But that's just my opinion on the situation I could be wrong.
on Fri, 12/04/2009 - 18:40
#153332
Thank you for your response, and sharing your insight Shameful. I am a champion of futile exercises, hence my foray into the market... I would be hoping more for a light onto the issue rather than an actual verdict, and suppose RP's bill actually does bring some stuff to the surface, now would be the time to begin preparations IMO...
http://www.despair.com/fut24x30prin.html
"...But if you wanted to look at the law you would look at their charter..."
"...Or if you could get them for lying under oath..."
Excellent starting points... could you tell me are there any angles in the arena of Breech of Contract from a civil standpoint as a taxpayer?
ps, I just went and had lunch and coincidentally or not, I'm pretty sure I was surrounded by undercovers, maybe it was the crack, but, Marla, you're not passing out IP's are you?!?
on Sun, 12/06/2009 - 11:20
#154444
No problem, I also would love to see the Fed killed or at least exposed but I'm not sure this is a valid way.
Like I mentioned the standing problem. Basically there is case law that we as citizens don't have a right to sue about how the gov wastes our money, even if they do it illegally. I space on the case right now but basically the court has given the bird the the idea of citizens suing about what is done with their money even if it is unlawful. If memory serves it was about the reporting procedures of the CIA budget and the court would not allow standing. The court is a tool of the Fed Gov. Got to ask Scalia a question and he basically said not to expect the court to back states/citizens because the court is an institution of Federal power. If you want to see how brutal the courts can be to a little guy who was trying to use the law in their favor check this out http://www.lewrockwell.com/grigg/grigg-w118.html
As for breach of contract I don't think we would have a leg to stand on. If it could be construed as a contract then it would between the Fed Reserve and the Fed Gov. The citizen can not sue as the Fed gov, and we would be seen as a third party and run into standing issues again.
Granted if we could get a congress person to do it then we might be in the ballgame since an argument for them to have standing would be far greater. There are other procedural tricks they could play though...
Though I'm kinda hopeful that the audit the fed bill will pass, so Obama can veto it and we can have more eyes on the Fed and people asking why the "transparency" prez vetoed a public audit of a secret firm. As long as the Fed exists the prosperity of America can never truly be restored...where the Hell is Andrew Jackson when you need him?
on Sat, 12/05/2009 - 01:36
#153717
The system is neither fair nor is it representative.
If George Soros got pissed off by the Fed, he might have a chance.
on Fri, 12/04/2009 - 15:36
#152879
Another bubble popped, at least in the short term. See my posts the other night when we hit $1226 or whatever.
I am John Connor
on Fri, 12/04/2009 - 15:20
#152886
http://www.pacificviews.org/weblog/archives/003679.html
on Fri, 12/04/2009 - 15:22
#152891
gold falling as usual before next weeks treasury auction. Probably due to japans noises on selling t bills. China may balk, may be a failed auction if gold did not come down, dollar up. Or its the selling of ETFs to bring price down so the big boys can have their phisical at low entry.
I admit to my dumshit status.
on Fri, 12/04/2009 - 15:22
#152894
I find it amusing how I get JUNKED when I try to offer some analysis of the decline... No, I did not catch the move to 1200, and yes, I am LT bullish... But what is a 30% selloff in gold for a true believer?
on Fri, 12/04/2009 - 15:25
#152903
Andy, you can't make one remotely negative comment about gold without getting ripped to shreds on this board.
on Fri, 12/04/2009 - 15:28
#152908
yes, I kinda like the gold bugs though, GG and PM (he is the most objective)
on Fri, 12/04/2009 - 15:34
#152921
agree, I always enjoy PM's posts in particular. On the whole, most bugs are way smarter than the average person.
There are a few bugs that are very, very annoying however.
Anyway, I will enjoy my brief time in the sun being short GDX and AGQ since wednesday.
on Fri, 12/04/2009 - 15:44
#152955
LOL. You don't understand gold bugs. It's not belief. It's anti belief. It's the physical manifestation of super colliders and anti particle annihalation energy releases.
http://www.youtube.com/watch?v=uHQhOzeE6Q4
on Fri, 12/04/2009 - 15:43
#152951
Thanks Andy. I love you too!
on Fri, 12/04/2009 - 15:49
#152966
hahahaha
on Fri, 12/04/2009 - 16:02
#152996
I like your honesty and thanks.
on Fri, 12/04/2009 - 17:56
#153249
Some people use the junk button to state "I disagree" without being able to give a reason.
on Fri, 12/04/2009 - 15:24
#152900
Thank You central banksters. Now I can buy even more gold.
on Fri, 12/04/2009 - 15:36
#152933
Are you seeing any good deals for physical?
It seems like they aren't falling for this meltdown and are jacking up the premiums to compensate. I can't find an ounce under $1200.
on Fri, 12/04/2009 - 15:40
#152945
hear, hear.
Me neither... went looking and was surprised... as if spot price means nothing... WTF?
on Fri, 12/04/2009 - 15:46
#152959
I think it has something to do with the value of something that hurts your foot when you drop it...
on Fri, 12/04/2009 - 15:51
#152970
www.apmex.com www.kitco.com You can buy kilobars $10 over spot and good bars $7 over spot... i.e. 1160 or so
on Fri, 12/04/2009 - 16:06
#153011
I'm looking for 1 oz. coins though; I have enough bars.
I get a fuzzy warm feeling every time I say that!
on Fri, 12/04/2009 - 16:09
#153023
+1 i think coins are waist of money.. and there are NEVER enough bars... :)
on Fri, 12/04/2009 - 20:20
#153455
American Arts the only coins under $1200
on Fri, 12/04/2009 - 15:30
#152913
Rumor on the street(shhhhh):
Napoelon Iceman Dynamite spotted in the VIP Sausage Room at trendy Soho nightclub "The Meathole" with Timothy Sykes.
Apparently Timmy's hormone treatments are starting to work on The Icemans lips.
on Fri, 12/04/2009 - 15:33
#152920
The dollar already hit its 50DMA on this 1-day bounce.
Despite a ~$50 drop (~$70 in 2 days), gold still has a ways to go to hit its 50DMA but many gold stocks are at or flirting with 50DMAs.
Maybe this tells us gold lies in stronger hands than dollars or gold stocks? If so, it seems like this is a strong message about the true prospects for the economy...
on Fri, 12/04/2009 - 15:34
#152925
There's something else going on, here. Gold is down 4.3% with silver down 1.3%. I admit I don't know what's happening, but it seems to me that all markets are being manipulated right now.
on Fri, 12/04/2009 - 15:34
#152926
Trading Strategy:
Let the gold price stabilize in a range and then use the range breakout as an entry point with limited downside risk. The new range bottom will provide an excellent floor for stops.
After all, the name of the game is to have the largest possible position when it starts to move up again. We are in the beginning of a secular bull market in gold. Central banks have just recently switched to net buyers and given prior history, they will maintain that stance for 10 years+.
on Fri, 12/04/2009 - 19:12
#153371
+10
on Fri, 12/04/2009 - 15:36
#152932
OT:
Not one to usually raise the white-flag of surrender but here goes.
I need advice. I can't rationally figure this one out and I admit, I'm in a mess.
I'm in SRS way too deep.
Gut tells me dump and run
Brain says gotta turn around sometime. Avg'd at 9.87. It's barely treading water at 8 today.
I'm open to suggestions. An idea? A plan?
I freely admit I'm an ass for getting involved with it so, berate all you want, I'm beyond that...
I just need a logical plan.
Thanks in advance.
on Fri, 12/04/2009 - 16:12
#153026
Buy some houses and hedge it. The tax credits will allow you to get some champagne to celebrate.
You're welcome.
on Fri, 12/04/2009 - 16:47
#153112
In general, you have to be willing to sell a dog. I did the same thing with SKF earlier this year. I'm not going back to ultrashorts. You have to nail the market move at the time it happens. They aren't meant to hold.
Only you know how much loss you're willing to withstand. Could be many months or quarters before a big real estate shock, or the government might successfully cushion the blow all together with a bunch more printed money. The market has already factored in a LOT of bad real estate news. CRE might explode spectacularly enough to cause big moves, but it might just be a slower bleed. In the meantime, the ultrashort is likely to drift downwards.
I'm not a pro or certified anything, so take my opinion for what it's worth (not much). But in general, it is best to sell a loser and take the lumps, than to watch it lose another 20% or whatever.
on Fri, 12/04/2009 - 16:50
#153123
you didnt have a stop-loss plan? yikes!
on Fri, 12/04/2009 - 17:14
#153168
Sell it. Short IYR if you're a true believer. You can't fight the government rule changing (there will be plenty) and you can't wait out this cycle with an ultra ETF, they don't work that way. I think it is deep into 2010/2011 until commercial real estate blows up. You may be right, but you have the wrong instrument. It was like being a true oil bull and owning DXO (now defunct). It simply didn't work unless you were a skilled day/swing trader.
on Fri, 12/04/2009 - 17:16
#153171
Since you averaged in, what is wrong with averaging out.
I recommend unwinding your long position over time (the same as you got in).
on Fri, 12/04/2009 - 17:50
#153243
Plan 1: Just walk away. A 20% loss isn't that bad. After that, keep your eyes open for a really good opportunity to get back into the markets. The 20% can be made back.
Plan 2: There's no reason to think SRS can't gain at least some over the next week or two. Christmas sales have been lousy and winter is the worst time of year for real estate. Keep an eye on the S&P500. The unbelievable jobs report should have sent it on a path to 1200 but instead it fell from an opening burst for the third straight day. So it might repeat the pattern it's been following for the last four months and head down towards 1060-1070. If it does, you'll make back most of your losses in SRS. But get out quick then, because the downturn will only last 1-2 days (again, based on recent behavior).
Remember that inverse ETF's decay over time, so you should only choose plan 2 if you expect something to send the markets down (or IYR down separately) in the next 1-2 weeks.
on Fri, 12/04/2009 - 19:15
#153379
+1
on Fri, 12/04/2009 - 18:04
#153270
Thank you for the ideas. I will let you know how this turns out and I appreciate the advice. I admit defeat, of sorts. This market makes no sense to me and it's safest for me to unwind this, get out and enter when it makes more sense. My faith is shot.
But my faith here isn't. It's like a refuge. Thanks for letting me confess my sins.
on Fri, 12/04/2009 - 19:29
#153390
Yes, ZH is a refuge--
Best of luck to you on this one!
on Sat, 12/05/2009 - 01:12
#153706
This is a very cool site this way. Many of us have been burned as you have. Getting out at a loss hurts, but after some time, it feels better. The lessons learned from burns like this do actually make you stronger. I wish you better times in the future.
on Sat, 12/05/2009 - 03:16
#153744
Ah yes, SRS my former lover. I didn't realize she was a FED puppet until all was lost. This is a trading vehicle only--you're 20% down. Preserve your capital and adopt a discipline. I recommend trimming your losses.
on Fri, 12/04/2009 - 15:42
#152950
We had 5% drop after Dubai, today another 5% move. Clearly show that specs probably add about 5% to gold price. lets double it for fast longs and such... So, we talking 10% of the price is due to specs... Look at it this way 1100 +/- 100, sounds about right, so assume you are buy/hold/love/die type of guy and you have say 500-1000oz, so its 50-100K NAV due to specs? not big deal is it?
on Fri, 12/04/2009 - 15:51
#152969
+1.
Also, note the premium on physical increases on these sharp drops. Paper sells off harder than the real.
on Fri, 12/04/2009 - 15:43
#152953
Watch the US$. Over its trend line, for the past 7-8 months. Over its 50 Day MA.
If the US$ Bull runs, Gold could get hammered very hard.
on Fri, 12/04/2009 - 15:45
#152958
Its all about having physical in my view. Precious metal ETFs are worthless pieces of paper just like 150 plus p/e ratio US stocks.
on Fri, 12/04/2009 - 16:08
#153016
+1... and if you buy good bars or kilobars premium over spot is small <=$10, considering storage charges you pay to ETFs you better off buying physical, as first year storage charges very much cover premium you pay. Just don't buy numismatic crap and anything under <20oz
on Fri, 12/04/2009 - 16:19
#153051
I hold my physical for savings and use the ETFs for trading. Just made a nice profit on a straddle at 1200 using GLD options.
on Fri, 12/04/2009 - 15:49
#152967
http://www.shtfplan.com/forecasting/do-you-believe-in-black-magic_12042009
on Fri, 12/04/2009 - 16:16
#153041
BINGO!!!
on Fri, 12/04/2009 - 16:17
#153042
This from JSMineset:
HAHAHAHAAAAAHAHAHAHAHHAAAAAHHAHAHAHAAHAHAHAHAHAHAHA!!!
To all the Prechterites: Now go kick yourself for having EVER listened to such a total and complete idiot.
on Fri, 12/04/2009 - 20:18
#153450
Sinclair also pointed out that $1224 was an Angel point (magnetic gold), and TPTB would make a bloody stand there. Called for temporary top at $1200 - back in MAY. Gold bitches!
on Fri, 12/04/2009 - 16:22
#153055
How's your physical?? Bunch of w*nks!
on Fri, 12/04/2009 - 16:29
#153068
Ah, Gekko. $40-50 moves with every 100 pip usd move. Your ignorant and arrogant gold chat is living on borrowed time.
You're just part of the latest 'this time it's different' crowd.
Wht to do with all that overpriced physical you bought when it hits $600?
on Fri, 12/04/2009 - 19:43
#153412
Oh my God. I'm outside of the legitimate established dollar and I'm part of a temporary fad.
God is going to make me suffer and lose all my hard won gains. I should sell all my gold right now and run and put my money in a .25 percent interest bearing money market fund before I have to suffer his mighty wrath of monopoly reality. Please just make the shaking and shivering stop from my ill conceived rebellious acts. Please just give me your fear and let me make it my own so I can rejoin and we can both have comfort. Even though you beat me while I'm with you. You beat me twice as hard when I threaten to leave. Surely this dollar kingdom will last a 1000 years just like has always been promised.
http://www.youtube.com/watch?v=GFJpZdTdpMs&feature=related
on Fri, 12/04/2009 - 16:29
#153070
Even my niece could have told you that it was time to shake the mother fucking sissies out, the BLS report is just as good as any other reason, could have just as well been my wife's menstrual cycle for all I care.... Next shakeout equities...
Econolicious
on Fri, 12/04/2009 - 16:31
#153075
I think we see the gaps filled and a price between $1020-$1100 sooner rather than later. The 200 DMA holds, the ChiComs, Indians and Arabs thank us for allowing an escaped insane elf from the North Pole to serve as Treasury Secretary and when the S&P 500 craters early next year, and I do mean CRATER, the CRE crisis will be blamed on Bush and Reagan and Obamagod will order Benron to print as many trillions as necessary to keep his party in office and thus triggering the next bull leg in gold.
Sheesh. I love watching all the giddy Bubblevision hosts when they report on gold. Sadly they showed the same glee when pumping BSC and WaMu as they cratered while little old ladies had to switch their dinner plans from Fancy Feast to Old Roy because they followed their advice.
on Fri, 12/04/2009 - 16:37
#153086
how about little bet.. I sell you 1m 1040 put at 10points. if you right u get 2:1 payout
on Fri, 12/04/2009 - 20:27
#153462
I don't buy paper GLD, it's crap, physical only. However the 90 SPY puts are looking mighty interesting....
on Fri, 12/04/2009 - 16:35
#153083
Misc tidbits: -Goldman targeted gold at 1200 and that's where it got to. 1400 comment yesterday was a bulltrap -Goldman targeted the DXY to jump 20% sometime 2 weeks ago. The dollar plunged but now it's up -The stock market and the economy are currently in 100% sync. The recovery will fail when the market fails and vice versa. -A lot of Labor's Employment numbers are based on these erroneous birth/death models of businesses -Unemployment number shocker is probably due to nomination problems of Bernanke and Obama's cratering numbers. It's the last number to really get juiced-and the market looks to it. Now, what happens? That unemployment number was "SOOOOO GOOD" that investment money ran to the US(as in it's now a bonafide recovery story.) That's a doubledged sword since Bernanke had been firebombing the dollar to juice the markets with the carrytrade. Now that there is a "real" story, the dollar zoomed and probably had shorts covering like crazy. Shortcovering will need a sell off of commodities and stocks and then we begin back at the crash...maybe
on Fri, 12/04/2009 - 16:50
#153120
Me think that the carry trade is the side show,and the gold is the main show(unfortunately I don't have neither stocks or gold,but only cash). I yet to see one study discussing the dollar bull scenario on a fundemental basis. There is still a huge deficit,and I don't think any of the trading partner who peggs their currency to the dollar,are interested in buying tbs anymore. So I expect them to keep on converting their excess dollars into gold and other easily warehoused commodities,and the sharp drop in gold today is probably related to unwinding some longs on the comex. If you are in doubt,go with Jim Rogers for the long haul(he keeps on repeating that he is the worst market timer,yet he is vey succeessful investor).
on Fri, 12/04/2009 - 16:54
#153131
Gold doesn't rise merely in response to real or anticipated inflation or a declining currency, it rises in inverse proportion to confidence that the sovereign has it's finances in order. As long as the government gives the impression that they don't know what they're doing, believe in magic and are borrowing money they can't repay, gold will stay up here or much higher.
on Mon, 12/07/2009 - 02:26
#155035
Which causes people to flee the currency and their bond market. Especially for the US and UK, interest rates will rise ,driving bonds down. Therefore less dollar denominated assets will be purchased, driving the dollar down.
on Fri, 12/04/2009 - 17:07
#153154
Gold is on sale folks. It won't last long. Back up the truck and load up while you can.
on Fri, 12/04/2009 - 17:13
#153166
To the SRS Anon;
My advice to you is to sell to your sleeping point (i.e that point that allows you to not overly stress over it).
Take some off the table. Other trades are out there. Move on before you are REALLY in trouble. These inverse ETFs should not be held for very long (like, a day).
Discipline (or lack thereof) makes or breaks a decent trader. Just one guys opinion (who has learned the hard way).
JR
on Fri, 12/04/2009 - 18:08
#153280
Thank you, I will post back about it. I'm pissed mostly because I had faith in REITs a while back 2-3 yrs and then took a major beating. I am trying to not make that same mistake again. Your advice is appreciated.
on Sat, 12/05/2009 - 01:22
#153710
The discipline comment is the essence of trading. It gets beaten into all of us through experience. Not sure there's any other way to learn it. Just an aside, I have a method that allows for up to four-day holds of the leveraged etfs, but even four days is pushing it. Best of luck to you.
on Fri, 12/04/2009 - 17:18
#153176
To cow, silver king, and gekko. I warned you yesterday and you all laughed said i had no money or could not earn money. Very foolish comments considering i am an old timer think t206 wagner 1909 s vdb bought 25 years ago. To spout such comments without knowing facts just shows me your age. Meaning you really do not know who you may be talking to on this board.
on Fri, 12/04/2009 - 20:19
#153453
i googled and found some yahoo on a baseball card. fail.
on Sat, 12/05/2009 - 11:21
#153874
what do you get when you google me?
on Fri, 12/04/2009 - 17:37
#153211
okay, so the short dollar/long gold guys peed their pants and the deflation crowd might be capitulating, but what about inflation? This is weird. The only reason we are here is because the printing presses are going 24/7.
on Fri, 12/04/2009 - 17:54
#153248
It would not phase me a bit if gold dropped to $700. It's the best store of value in USD terms for the next 5-10 years. The banks & the US are insolvent. Uncle Ben will create $'s via his keyboard & mouse until there's a currency crisis.
Plus, China continues to advertise buying gold/silver to the masses. See this link from a story from today...
http://www.china.org.cn/2009-12/04/content_19010999.htm
Everything that happens inside the U.S. at this point is a sideshow. Which country do you choose to guide your investment $'s, the U.S. or China? Make no mistake about it, China is in charge. If they would recommend buying pickles to their masses, then I'd put at least 25% of my portfolio into pickles.
Gold will be $5000+ in about 2-3 years. It's too bad a Honda Civic will cost $70,000 in the same time frame.
on Fri, 12/04/2009 - 20:35
#153470
Anon #153248
...and just who's gonna buy a $70,000 Honda Civic in 2-3 years dipshit ???
on Fri, 12/04/2009 - 23:06
#153628
Transport back in time to 1923 and ask a German.
"By late 1923, the Weimar Republic of Germany was issuing two-trillion Mark banknotes and postage stamps with a face value of fifty billion Mark."
on Fri, 12/04/2009 - 23:08
#153629
Transport back in time to 1923 and ask a German.
"By late 1923, the Weimar Republic of Germany was issuing two-trillion Mark banknotes and postage stamps with a face value of fifty billion Mark."
on Sat, 12/05/2009 - 21:48
#154207
the chinese?