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PIMCO selling more 126/129 strangles in tyz0 @ 30...10k all day
That is all
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Doubling my bets on this Terry Shiavo economy
She's pinin' for the fjords!
10-yr. futures going absolutely apeshit.
No doubt, Bill "Drawbridge" Gross and Mohammed "Sugar High" El-Erian were backing up the truck buying bonds when they told the world that the bond trade was over...
LOL...
Go ahead, buy bonds which pay off in cartoonish US $LOLars, who cares.
Just like the Zimbabwe 30 yrs from few years ago.
Boooo Ya, Cramericans!
Can't concentrate.. Still fixated on the Brazilian finance minister's daughter.
TF, you sure did call the PMs...thank you for your input!
you said it Turd, only thing missing in the shot is a long silver poll!
Agreed.. thx Turd.. great analysis.. thx for sharing!
Just glad I've found a forum through which I can share some insight.
Btw, watch 1372 on the Dec10. A close tomorrow above there would be very bad for Blythe and her stormtroopers. Expect the EE to draw a line at today's intraday high of 1385 (they already have as we're back down to 1377) and make a run at beating it back under this level. It probably won't work...too much generic, global demand...but she'll certainly try. 1365 should act as pretty good support now. I'll be buying there if Blythe manages to beat it back that far.
Here, this is from earlier this morning. Predictable EE action yet again...
by Turd Ferguson
on Thu, 11/04/2010 - 08:00
#699069
Obviously took out a boatload of stops just above 1365 in the Dec10 gold.
As mentioned yesterday, the last line of defense for the Evil Empire is near 1390, where we double-tapped a couple of weeks ago. They'll try to "weather this storm" by defending that number so it may take a little time to get through there. However, there's no reason to think that it won't.
Once through 1400, the EE will probably try to set up mild resistance around 1420. They'll try even harder around 1440, at which point we'll probably fiddle around some as a little profit-taking sets in as well. Ultimately, however, the USDX looks like 72 which will take gold up to my oft-stated goal of 1500 by 12/10/10.
Lastly, keep in mind that soaring gold, the by-product of all this QE, generates headlines that the Fed does not appreciate. Silver, not so much. So expect silver to continue to outperform on a relative basis.
Turd,
Yes thank you for your insights on PMs, while I hope to ride it north, any thoughts on what happens if China decides to piss in our devalued milk, Brazil can bitch but I do not think there is much they can do, Euroland...BOE, BOJ, do you think anyone out there can get in the way of Ben's dollar killing playbook- ie stop PMs cold.
Clark: My guess is only as good as anyone else's on this subject but here goes...
The only thing that I can see that would derail the PM, and for that matter all dollar-denominated asset, rally would be a global margin call event similar to fall 2008. China "pissing in our milk" would only add fuel to the dollar swoon fire. The Fed would be forced into even more QE and on and on we go.
Nope, absent a global liquidity crisis, and I can't foresee any way HellyBenny lets that happen again, PMs are going much, much higher. Buy all dips.
Thanks Turd,
sort of see the same thing, but always good to see if others see it differently.
I'm afraid we won't be seeing much on the dips side....at least I don't see big drops anytime soon.
Happy Trading.
C
With no POMO tomorrow, its a near certainty that gold, silver and the miners will give back some of these gains. If you can pick up some gold near 1370 and/or silver at 25.50, you'll probably be able to sell them much higher early next week.
I've got a health dose of gold miners and SLW Jan/March Options.... so I'm sittin on a big fat gain today.
I've got time on it so I think I will let it run.
got ANV?
No picture? I almost gave my first junk! ;)
Can you explain how PIMCO is selling vol ? Are they shorting straddles in the options on the futures market ?
TY is in the futures (Z0=Dec '10), but most prob using options too
It's a strangle and not a straddle. They are boxing in the TY and not expecting big swings in either direction.
Superdrol: They are betting the price stays between 126 & 129 on the December 10year. Thus selling time and vol.
Guido knows what he's saying and doing. Just look at his daughter!
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