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Market Levitating Just Above 200 DMA, Gold Stopped Just Fresh Of New All Time High
Who knows what would happen if the algos did not have the entire market in a binary vice: maybe after week after week of every louder double-dip news the 200 DMA could actually be breached. It won't, just because everything is so fair and unmanipulated, and the market can't wait to bounce after a horrendous payroll, initial claims, retail sales, Philly Fed, and other numbers that now scream double dip. It's ok, it now takes computers about 5 milliseconds to "price in" any and every disappointment and never look back. Also, gold rose as high as $1,251.25, before the LBMA put the brakes on and prevented a new all time record breakout at $1,252.25. The stage is now clear for Hal to ramp stocks vertically, even as mutual funds likely see another several billion in outflows this week.
Gold
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This pretty much sums it up
http://www.youtube.com/watch?v=WGoi1MSGu64
Nice jump in silver as well. Too bad really, I wanted to pick up some more under 18.
In great words of Winston Churchill-
I seem to recall reading somewhere that he lost a great deal of money in the market.
We are absolutely zeroing in on silver's pre flash crash range around $18.88, which is a very important number.
Eur/USD is also at the top of its recent range. And as you pointed out, so is money...for anyone not in the know, monie is gold.
We are yet at another inflection point.
shorted gold 1250, got in just before HAL.
ballsy
I owe you a beer if you're right. Not a bad move considering SKYNET's tendencies.
Don't fight the Computers. These are the same great computers that were used by The priests of the temples of Syrinx. Keep in mind these computers filled the Hollowed Halls.
...livin' in a powder keg and givin' off sparks...
Yes sir, Rush 2112. Temple of Syrinx written by lyricist and Percussionist God Neil Peart.
Computers are limited, spirit is not.
How exactly does the LBMA put the brakes on? Do they use shorts to bid the price down or use stops on the way up? I'm really just asking because I can theorize how but I'm not at all sure.
Yes, they put on fresh shorts in an attempt to cap the market. On the Crimex, the primary members of the Evil Empire are GS and JPM. They are particularly effective at jamming the price down when there are moments of low volume. You can clearly see these attempts on the charts, almost every single day.
To cap the price, naked short positions are established at certain technical levels in order to "paint the tape" of gold and give the appearance of weakness. Currently, the line that MUST be defended in 1250-54. Any convincing move through there and every single short will be underwater and under pressure to cover. Ultimately, they will not succeed and price will accelerate to 1290 and on to 1350, where the Evil Empire will once again attempt to build resistance.
sick sick sick sick sick
I'm a novice at identifying the patterns in theS&P 500 and FX pairs. As I understand the strong coupling is caused by many players running plays from the same "playbook". Really? Seems these algos would eventually start running "reverses" or "double reverses" to gain advantage. Anybody have comments on that and what it might look like? Might a VIX ETF be useful?
Would love to know who exactly are the real owners of equities that can't sell except to each other without total collapse
Head and Shoulders potential on SP futures over last three days with 1100 as Neckline.
One thing to consider is that the company with the second largest market cap in the SPX and is nearly 20% of the Nasdaq is up very strong again today. If that company weren't selling a gazzillion iGadgets, the market would be much weaker.
As goes AAPL so go the computers trading with each other.
Harry, once again, check out the correlation between aapl and slw. It has PPT's handwriting all over it.
Apple is in a bauble.
Don't have to convince me, I'm short AAPL. Every analyst on the planet is upgrading and raising price targets. You know what that usually means? Yep, it's hitting it's highs. Just like when they downgrade after a big fall, it goes up.
I don't buy the "it's cheap" argument either. If/when it doesn't live up to the extremely lofty expectations by even a hair, it'll get slaughtered. Overly expensive? No. Just priced for perfection.
I am not a gold bug like many here but I have the feeling gold is about to have a phenomonal breakout here as the real demand for it has yet to be unlocked.
Yes, John. Demand is such that the price can no longer be contained and suppressed ny the Evil Empire.
look at upv, dnv, spx, eurjpy, eurusd, vix ....to me looks like humans are taking advantage of hal to liquidate positions in an orderly fashion
same shit, different day
Look at Hal/BigBen go there. Spiked the ES quite nicely.
Keyword: Platinum.
Mmm, platinum, my favorite PM...
Rhodium sponge, good with strawberries and cream.
Right now it looks like Platinum is poised for a huge breakout. This because it has been recently manipulated to serve the PPT's agenda-ie flash crashes (silver and gold have too, as you know, but platinum more so). When the currentsea collapse commences in earnest (we are at the tipping point) platinum should see a breakout that outpaces gold. This only because gold and silver decoupled already (winter of '08-'09), and platinum has not (chart platinum to equities, the Nikkei for example, to see what I mean).
Silver of course is undervalued by a multiple of around 60 compared to gold (which is also undervalued), this going into the crisis, so it should see the largest gain percentage wise in the long run.
SWC, Stillwater Mining Co. of Montana (Platinum, etc...) made me some money and I believe it will again.
I have to say, I'm a little stunned at the outright run & gun this week. As a zerohedge reader of over three years, I'm no stranger to central bank wank & spank but this last week really takes the cake. From the dilusional trend of equities, FX man-ip to european stress test funnnies it's as if where watching a bad, overpriced Michael Bay movie. You know how phony and unrealistic the plot is and can guess the ending a mile away.
The million dollar question as always: what finally stops this? Whats stops this luncay? Can Helicopter Ben & his band of lunatic bankers be stopped?
As a zerohedge reader of over three years...3yrs huh?
He's using dog years.
End of Q, quadruple witching, a handful of computers trading with each other. It's not that stunning really.
Really seems to lend a feeling to another flash crash type scenario to me.
this is one of the most amazing things i've ever seen. this morning JNY. Now this usually trades over a million shares a day. for the first 15 minutes, there were almost no bids, and less than 20K shares traded. Amazing.....and yet, its lost just .23 today.....
saved by the HFT i guess....some of the traders must be women who like Jones NY.
Very light volume in SPY as well, which means either that the traders are sleeping or late day sell off.
*EDIT* Whoop there it is.
Seems to continue to hold that 200 dma. If it slides below on some volume, it could sell off. But so far, it's clinging and clinging.
this is one of the most amazing things i've ever seen. this morning JNY. Now this usually trades over a million shares a day. for the first 15 minutes, there were almost no bids, and less than 20K shares traded. Amazing.....and yet, its lost just .23 today.....
saved by the HFT i guess....some of the traders must be women who like Jones NY.
Someone(thing) is really pumping this market right now. They are really fighting with the true reality of the global situation. The ES (now to be refered to as unicorn) spikes and slams into the wall of reality. Then doubles back to slam into reality yet again.
*EDIT* - Look at all those dead unicorn bounces after 2pm.
Look at yesterdays chart and compare to todays. Both days peaked at 1:00 CT and then declined until 2:30 CT then up again.
We dont know who started it, but we do know it was the machines who burnt the skies...so when does Skynet figure all the suckers who have bought calls and sold puts are all-in and pull the rug out as usual like clockwork? Probably quiet until options expiration tomorrow, then its time for the machines to go get busy raping the put buyers and call sellers.
Those EURUSD bullish warnings have strengthened further today.
Vice versa for the USD index of course.
It seems the current EURUSD downleg has ended.
http://stockmarket618.wordpress.com
Could it be the bad econ news = more EZ money from Benni and the Feds = tap open for cap markets + carry trade = gold as an inflation hedge?
Well played BB, nice stick save! Way to keep the ponzi going strong.
"Now don't worry, be happy, get drunk, and watch the fianls. Tommorow will be just another day, I promise [hands behind back, fingers crossed]." -BS (your BB)