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Here Is Why The Tadawul May Soon Pull An "Egypt Stock Market", And Close Indefinitely
The first from a major bond trading desk:
Reports are circulating that there has been massive buying of Treasuries out of the Middle East this morning following the NFP report. The buying has been across the curve, with large concentrations in the 2-5yr sectors. Now that's a safe haven trade from the countries causing the stress in the first place.
And for those wondering why the Tadawul may do a reverse EGPT, and not open for a while...
We have confirmed reports of massive amount of money moving out of the country, most likely to Abu Dhabi resulting in a huge sellout in the stock market which saw a major decline in the past few days.
As for the dollar: it is a sad, sad sight what the dollar has become. Thank you Chairsatan!
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Will someone come over and tap me on the shoulder when the mob is about to set a torch to the Federal Reserve?
And could you confine The Bernank, and maybe Frost & Sacks...oh...and Dudley...especially Dudley, until I get there?
Thanks!
Poor Prechter...really having a tough time explaining gold, silver, the market, the dollar and bonds....
I took profits on LSIL, see you all on Monday. Come on JPM, do your worst, let me back in.
Huh, and I was waiting for 2012 for all the trouble to happen.
The best $ support, the 3 year old weekly uptrend from the '08 low near 72 to last week's low at 77, has just been broken. One bad day down only .40 and 2 consecutive lower closes below 76 targets 72 for the new U.S. world reverse currency, with Au somewhere up over $1515.
Do the Elite there load their gold bars up onto ships or jets?
CA gas prices were $3.95 a week ago, $4.05 3 days ago, and look to be $4.16 today, going up 3c per $1 rise in WTI. Oil at $113 will be $4.50/gal gas, approaching the price that will thin traffic back to the '08 level.
If the bond vigilantees, like the Libyans, are hiding from gov't. sniper fire, maybe some anticipatory fill-ups by several million gas vigilantes will give Ben-Hubris the next clue on how fast his ZIRP is unravelling, and if words like shortages, rationing, price-controls, and export-import controls aren't entering the federal strategy discussions, I wonder what page they are on?
http://www.thenational.ae/business/markets/hot-money-heads-for-the-exit
Man I want to buy that chart@ 25.5 on the RSI Daily. No joking!
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