This page has been archived and commenting is disabled.
Saudi Stock Exchange Plummets 6%
Not many exchanges are open on Saturday. But the one that matters in a contagionary light sure was. And the drubbing it took was not pretty. "Saudi Arabia's stock exchange tumbled by over 6 percent on Saturday,
setting the stage for other regional markets to drop as concerns mounted
about the violent protests in Egypt. The Tadawul All Shares Index fell 6.44 percent to close at 6,267 points.
The market in Saudi Arabia, where the start of the work week is
Saturday, was the first to react to the violence in Egypt and the drop
in the TASI offered a window into the potential battering that could
emerge when other regional markets reopen on Sunday. On the Saudi market, there were no gainers as investors sold off holdings. Hit hard was
Sabic, one of the world's largest petrochemical companies and the
largest publicly traded firm on the exchange. Sabic's shares fell 8
percent, closing at 97.75 Saudi riyals." And this is just the beginning. If there are any further rumors (or confirmed sighting) of protests in Jeddah and elsewhere, regional markets will go bidless, oil will go offerless, GETCO and other NYSE SLPs will go bankrupt in their attempt to keep the stock market alive, and Bernanke will just go, once the entire world realizes that Genocide Ben, which is what ZH has been calling him for quite a while now, is really much more appropriate an appellation for the man who gives a bad name to helicopters.
From the AP:
"The fall is due to sentiment about what's happening in Egypt, and also in the US because the Dow went down" on Friday, said John Sfakianakis, chief economist at the Riyadh-based Banque Saudi Fransi-Credit Agricole Group.
"You have some collateral damage which is related to investors .... who have exposure in Egypt, and are trying to hedge that exposure by selling down their positions in Saudi Arabia," he said.
Egypt's stocks exchange canceled its start-of-week session on Sunday, and the country's banks were to remain closed following the weekend, Egyptian state television reported. Some banks in Cairo had been looted on Saturday as the violence entered its fifth day.
The protesters have demanded President Hosni Mubarak's ouster and measures to deal with the crippling poverty in the country, rampant corruption and the growing disparity in income distribution.
The rioting — inspired by similar protests in Tunisia two weeks earlier — prompted Mubarak to ask his cabinet to step down. But that move appears unlikely to significantly allay the anger of Egyptians who argue that the 82-year-old leader of the Arab world's most populous nation is sorely out of touch with their daily lives.
The violence sent Egypt's benchmark index tumbling almost 17 percent over two days ending Thursday, and analysts expect that the unrest will fuel another plunge both in Egypt and in regional markets which are slated to reopen on Sunday.
"The momentum is there," said Sfakianakis, predicting that regional markets drop.
"There's no reason to expect the Saudi market to go up because the general sentiment is sell-off and wait- and-see rather than sell-off and immediate buying," he said.
On the other hand, once Ben sends his plunge prevention emissaries to Saudi, and the exchange starts the same endless meltup only reserved for the US stock market, at least the silver lining will be that Chinese fraud companies, about 99% of them, will commence IPOing in Mecca and finally force the US housewife momo chasers to go cold turkey on 100x beta stocks that only trade up on short covering sprees.
»
- 15468 reads
- Printer-friendly version
- Send to friend
- advertisements -
Quick, how do you say "margin call" in Arabic?
Cuss oukhtel hayat!
Akhoo sharmutah!
Inta charmout!
I had to redo the sample sound tracks on my original version because of Time Warner copyright infringement of the thousands of labels they own, and it was banned in the USA that kept you from seeing it the first time I posted it. I found a couple of my other favorite tracks on British labels that I used. I must say, they did me a favor because I had a second chance to tweak it and make it better.
Video Description;
Homey D. Clown comes out of hiding to support the Revolution. He don't like that Police State Shit, nor da man, thus Revolution. Yours is a peaceful revolution to keep your freedoms and liberty. But when push comes to shove, sacrifices will be made, and they know it. They also know, they can't get all of us.
I made this Youtube in honor of the world wide Revolution.
Please spread it around if you like it. Please rate it and leave a comment.
Homey D. Clown Don't Play That Police State Shit Thus Revolution
http://www.youtube.com/watch?v=VaebXLxuxmY
Akhoo sharmutah!
Gazuntite!
I thought that was:
Quss sumak!
Yo, chindit13 & Hulk!
Do we have an Arabic speaking junker after us? Must be one of the Gaza troll services that Obama's people hired to go after Hillary back in 2008...
Hey, someone want to junk?
Alhamdulillah, bitchez!
He must be a brilliant actor!
http://www.youtube.com/watch?v=6wmw8UB4HCU&feature=related
Meh, you can't past Arabic here. Foiled again!
I don't know about the rest of you, but I'm speaking Lebanese here...
Gulf Arabic "tainted" by Lebanese and Egyptian friends. Heck, some of them almost even have me saying "a hwa" at Starbucks.
FYI Hulk, an anecdote for you.
Some 30 years ago when I lived in northern VA I ate at a Lebanese restaurant once in a while. I got to know the son of the owner, he was a tough & bony Lebanese Christian, seemed to be a real mofo.
He invited me to take him on one evening in a game of backgammon. I think that I got my butt kicked harder (ouch!) than in any board game I have ever played (other than once losing in a "Fool's Checkmate" in chess)...
Ah well, a smart Bearing will always claim ZERO intelligence (look at the center of a bearing, there is nothing there! A complete round ZERO!) and so can avoid being labeled as a human dumb-ass...
Ah DCRB, it was 30 years ago that I received the crash course in Lebanese, thats when I learned what hatred really is...
my roommate at the citadel was killed in a "crash course" in lebanon 28 years ago. rip charles "chuck" schnorf class of 81.
i think we should study these uprisings very carefully. soon it will occur here and tptb will use the successful parts against us.
we can use the successful parts against them.
I don't know about the rest of you, but I'm speaking Lebanese here...
I knew. My wife is Lebanese, and although she does not speak in it, she knows how to swear in it.
Whoopsie.
Bang dae camel.
Eat the camel.
Walk a mile for one.
http://www.euro-cig.com/gal_images/20060405111252.jpg
If you're smoking unfiltered camels, walking a mile probably isn't your strong suit.
The guy in the ad seems really pleased with himself for having stepped in some camelshit hash.
cough cough, lol, cough
Benny!!!
Bang dae hoe^H^H^H blowout preventer.
Isn't margin blasphemous????
"Falafel, Ya Kafir"
I saw Justin Timberlake last night at a pizza joint
in Austin. His girl was gorgeous. That has to be a good
omen for America and the globe right?
Was his head on a pike?
I think the question about usury was the best answer, but here's what we picked up from the "call monitoring for quality purposes" at the E-Trade branch in Riyadh:
http://www.youtube.com/watch?v=_N3vL4-N-ec
Berneke is a greater threat to the well being of the USA than any bueracrat in history.
Just sayin'
This goes way beyond the USA. Ben's printing kicked off the food riots.
This is linked directly to the USSA, the man who pushes all the wrong buttons atm is next of kin with the former president and is acting on his direct instructions.
Hosni Mubarak = I am Koran Bush
What's in a anagram.
LMAO
I see why you are always laughing your ass off funny man.
Well Heph,
It has taken the Egyptian people 30 years to understand what the USSA's Bush-Clinton-Bush-Obama Axis of evil has been up to. (I refuse to include Rea-gun to the list, being an actor he was just playing under instructions of his director)
After I've helped the Egyptians to solve the enigma all hell breaks loose. Needless to say it was a cleverly designed plan and calling him "Koran" made him blend in easily with a none expecting Arab community.
Expect more to come out of this region as more infiltra(i)tors are getting exposed.
LMAO
This goes indeed way beyond the USA.
THIS IS THE 2011 WINNER OF THE BLACK SWAN CONTEST!
Anybody remember what happened when Dubai was hit during the crisis?
ALL THE MARKETS WENT DOWN, but Abu Dabi saved the day.
Nobody can save that market now.
US banks have a lot of exposure of there, an they'll get a hit on monday.
Expect all the markets to go down big from now on.
And this WILL GO ABOVE THE 10% expected correction!
Sunday's good for a 3.68% drop in Abudubai
http://www.btflive.net/exchanges/exchanges.php?op=showexchange&id=3
This should all be contained by Monday.
As long as nothing spreads into Saudi Arabia over the weekend, we'll probably start with a sharp pull back and climb throughout the day as the Egyptian news gets bantered around by every talking head on the "financial" channels as meaningless to US earnings.
Friday evening, all the "Street" guys were out saying none of this matters for the US markets and you should be buying this dip. I think, whether right or wrong, that's precisely what will happen on Monday. Open at lows and straight up from there.
is this like your "look for a better than expected unemployment numbers" call? That went well didn't it?
it seems that, as you see it Harry, nothing that takes place outside the narrow corridors of Liberty Street and Exchange Place matters to the market does it?
of course what happens in Saudi Arabia won't matter either right? after all...what do they really provide?
Yeah...go ahead...buy the dip. I dare you.
your not bullish...you're foolish and blinded by the myth of american exceptionalism.
What do you think the market would do, as it reflected an ever-increasing expectation of an inflation tsunami?
I wouldn't short the market for the life of me at present. Buy some puts, perhaps, because there at least you know your losses.
the market has been going straight up for the better part of 5 months on ever decreasing volume and an endless spree of 11th hour (3:30 PM) stick saves with nothing that can be even remotely called a correction during that time period. We are now at about where the market was pre Lehman. do you really think the overall economy is reflective of these lofty levels?
I have been pretty much sitting on my hands and not trading much lately as, just like you would not dare short the market at present, I would not dare go long. My wait paid off. On Friday I had my best trading day of 2011. Mainly because I didn't need to get out of anything...instead I was all cash and went with short /ES, F 14 puts, short Eur/USD, VIX 22.50 calls and fully cashed out on all of it by end of day. Now I'm back to cash. Much more cash than before.
As far as what Monday will bring...I'll be watching the futures as they open up on Sunday and play accordingly. But I feel a correction is LONG overdue...and the volume on Friday was certainly suggestive that many do not trust this market to have a whole lot of justifiable upside left in it.
just my two cents.
I dunno, Nov was quite nice w/r/t vol.. Nice s/t plays on F and VXX. Played F short myself while ending the day with some long 16 calls - dump was overreaction IMO.
The "Street" guys have F in their portfolios.
Harry's a lot like Obama touting U.S. economic prowess while the common citizen in this country suffers under oppressive federal taxes and banking abuses. And while the commoners in other countries starve under the yoke of the Federal Reserves' monetary policies.
Harry, you'll get your usual number of junks, but deep down I suspect you are right. Other than yourself, very few other human beings are in the market. Of those who are (humans in the market), most are already wildly long, as most are portfolio managers fearful of underperforming their benchmark. Then there's the IB prop desks, who feed off the endless supply of Bernanke Bux. I expect some "emergency" POMO's coming their way.
This latter group, who probably think Al Jazeera is a used car dealer in Bayonne, is looking out its windows in Jackson Hole and Telluride this weekend, seeing lots of fresh powder, and waiting for the eight or nine figure bonus its company will plop into its account this week.
Hunger? That's something their wife suffers when she wants to fit into that new Size 2 Valentino black cocktail dress, before heading to the gala fundraiser because, well, these people just care so much.
For most market players, the events in Tunis and Cairo/Alexandria/Suez are a world away. Isolation breeds false thoughts of immunity, even immortality. It takes a shock to disabuse people of false notions. When the first banker gets gunned down by an angry man---something I suspect we'll see before Easter---only then will the market be in trouble. It will seem like high quality 3-D TV, except those mutants really will be in the room.
As is becoming increasingly clear to anyone paying attention, pretty soon there will be no safehaven, so those G650's pre-packed with bugout kits will prove useless.
Odds are growing that the human species is on the brink of a collective 1789/1917.
Chindit, do I hear a cloud in your normally sunny outlook? This is the first I have seen you allude to true tumult as a possibility.
What are you really seeing? Ehhhh?
I've been branded an eschatologist and wear that well. It's been a longish downhill ramp and now we seem to be entering the tight end of the spiral before the big squeeze.
Earth and it's putative ruling elite seem to having a collective upchuck. About time I say.
In a relatedish note, SuuKyi's release was clearly a programmer moment, releasing a long standing tension when it's useful date was past. See Baby Doc's "return" to Haiti, Oprah's long lost half-sister..... connecting the dots nowadays is quite the challenge.
Hope your part of the world is calm, for now. Juntas seem to be having hard times in these times.
ORI
http://aadivaahan.wordpress.com/2010/06/15/the-first-exercise/
ORI, I'm not generally sunny so much as resigned to a certain complacency on the part of the masses. Frankly, the last two or three weeks have altered my outlook. A combination of the street protests, which I expect will spread to Saudi, Algeria, Morocco, Spain, Pakistan and maybe your country, and the events in Tucson (a batshit crazy young man who still gives otherwise sane people ideas), suggest to me we have crossed the Rubicon. This anti-elite, anti-status quo movement, once set free, cannot be put back in the bottle. People worldwide are sick and tired of a self-selected few taking advantage of them. If it is stopped in one country it will embolden the masses in every country. Perhaps I border on hyperbole, but I think we have reached a significant turning point in the history of our species. If I am one of the elite, I would lay low, no matter the country of my residence.
Hmmmmmm....... I hear you.
ORI
Very astute observation. The divergence between the haves and the have-nots has reached a turning point. Throughout history, the playing field is routinely leveled out, or the deck reshuffled. God himself understood this when an allowance was made for a Jubilee. I suspect he knew a little bit more about the selfish tendencies of the human animal than the wisest of us, and placed limits on our behavior in order to help us, "love our neighbor as ourself."
So you are definitely buying this dip then Harry?
When will you know which 'dip' not to buy? As this pump job is being bought and to be paid for by future generations of US taxpayers, rather than supported by the fundamentals of a self-sustaining free market, will you also be buying all the dips all the way back down?
Being a European, I'm just trying to understand the mindset of someone in the US who remains so perma-bullish in the face of what is so obviously a huge con job to be paid for by your children and grandchildren.
bid the dukka hooker
Buy the f-ing dukka!
BTFD? What's that in yukka speak?
(as this one studiously polishes his neutron bommo...)
dukka hooker DUKKA BYDAZZLE MOTAZILLLLLL
You cannot contain the will of the people or a nation,how will it be contained by soldiers and tanks against people struggling to survive,a billion people trying to survive on a dollar a day throughout the world and that $ buys less.Get real,Monday will be the start of the rollercoaster ride that will make 2008 look like a trip on the pavement.Watch Gold and Silver head for the stars next week.
Its all good
It snows in Saudi-Land?
Just don't touch my hooker stipend!
Bernanke printed, people died.
That said, shutting off the oil and the Suez canal is going to be harmful to everyone who reads this.
And don't hold your breath that the people of Tunisia, Egypt, Jordan, Yemen, or Saudi Arabia want "democracy", much less freedom. They will probably demand--or get anyways--an islamist. Think taliban regime in Afghanistan, Hamas in Gaza, etc.
Their economic policies will be worse than the corrupt regimes they're replacing, but at least their implacable hatred will be uncompromising and they will be willing to attempt mass murder or die trying.
People in those countries want revenge. They don't care what comes afterward.
You forgot Iraq in that list. You retards just spent the last decade with the narrative that you wanted to spread freedom and democracy and now you expect people to just swallow the notion that they can't handle democracy! They will elect Al-Qaeda!
ok
This should be interesting.
Aint no stoppin the Jihad Bitches
ALLAHU AKBAARRR!
Heads up Tyler. @staceyherbert said she was informed by a private banker that a ME buyer is looking to acquire 1200 tonnes of gold. House of al-Saud / al-Nahyan seem to be top two candidates.
That is the stupidest thing I have ever heard! No one wants gold, they want dollars. They are emptying their equity positions on all exchanges for dollars. They will hold those dollars while the world burns. Then before they starve they will eat them for fiber.
well, some peeps didn't want saudi common stocks, for some reason.
maybe looking for something a bit more liquid perhaps.
yes, for food. it IS getting more expensive, and if you're gonna have all those pilgrims, pilgrim, those 1-a-day evening snacks are as necessary as bread at the circus.
the oil-rich saudis love our surplus food. what goes around comes around.
besides, if there is a small glitch in distribution and delivery of oil, cash comes in very handy.
the saudis want to accept the yuan for their oil, fine. the chinese want to declare the dollar standard a "barbarous relic", fine.
as i recall, we've taken it where the sun don't shine from our friends the saudis once or twice, and ended up thanking them for providing the petroleum jelly.
the chinese have 80,000 (?) 800,000 (?) 8,000,000 (?) of our jobs and we have so many people out of work that some of us have had to damn near stop shopping, altogether.
i, for one, say we've carried these partners of ours on our backs far enuf and long enuf. we export food and fraud. fraud's down a bit, food's lookin' great! if food outperforms oil, bic lighters and adult diapers for the next century, we'll be shopping up a storm.
somebody with oil or yuan$ has a problem with that, well, all i can say, as an american, is: eat shit, lay eggs, and die young.
jeeeez! this is fun!
What's the maximum takeoff weight for a Gulfstream V again?
Pffff...peasant. Even the butlers in the House of Saud own 737's.
Gulf Stream V Useful load: 6,500 lbs = 94,800 troy ounces, or US$126 million.
(see http://en.wikipedia.org/wiki/Gulfstream_G550 )
G V's are for minor princelings. Big boys look at those with the same contempt they'd view a Cessna 152. Better you figure the useful load on BBJ's (pimped 737's and 767's), and for the real top of the goat heap, 747's. The late King Fahd ordered his first jumbo back in 1983, complete with a gold throne that at that push of a button faced Mecca from anywhere in the world. It also had a telescoped elevator installed in the belly so that Fahd (who had his own jumbo-sized belly) needn't walk up all those stairs to enter his flying palace/harem.
Yes, OK, but did the 737s, 767s and 747s all come equipped with toilet paper?
And did the OTHER thrones turn at a button to face Mecca? Face away perhaps?
Inquiring minds want to know.
Harram alayk! Yalla fatwa.
By the way, the TP is two-ply Egyptian cotton. Nothing but the best for the Royal Arses.
It is good to be the king.
Mixed bag really. Good for Alan, Larry, Melvin (so far) and maybe Bhumipol, but not so good for Louis XVI, Rodney and Kong.
I used to own a Citation 1 with a useful load of only 1,500 lbs. If I had that much gold, I wouldn't have sold the Citation.
My Ford Superduty can tow 24,000 lbs, so using a 7,000 pound gooseneck trailer I can haul 248,000 ounces of gold. That would be a cool US$331 million.
Of course, then I could afford the Gulfstream...
Well done
Drop dollars from helicopters and pick up gold with C17s. Good plan.
Cheeky: Got FRN$ Buy metal..That was easy!
Who the fuk wants gold, when there is still coffee available for delivery?
Ya can't drink gold, other than Jagermeister.
Smells like the beginining of the end of dollar reserve status.
Tyler, do you think Bernanke could be responsible for all the recent bird deaths?
All I know is come tomorrow night, shit's going to be fun as Hell to watch.
I got the popcorn.
So the US equity markets begin to crash down 4% and Bernanke/Geithner and the rest of the President's Working Group on Financial Markets BTFD? The dollar and Euro capitulate until Ireland defaults on Tuesday? Where then the Euro crashes, but only until Muni Madness crushes the US Treaserve? This could all happen faster than a rabbit runs!
Colonel, Mr Lennon,
You betcha re the main attraction starting up tomorrow night.
My consumables are ready for action.
Better gas up the old battle wagon, I guess.
See your popcorn, and raise you 2 lbs of chicken dogs.
Yup, 1600 mst. oil,PM's Food! Could be quite a week.
Oh yeah.
must get my script refilled for the cusp from 1/11 into 2/11.
and some more of these Twizzlers Sweet & Sour FILLED Twists [Citrus Punch & Cherry Kick].
...yeah, maybe another 20 lbs. of coffees, too...
what the hell, why not?
This kind of event is not interesting, because it is forgetting the progress in the science of economics and econometrics.
As Dr. Keynes, Dr. Krugman and Dr. Ben Shalom Bernanke demonstrated, the old logic of credit cycles, booms and crashes is now obsolete and dangerous. It is a great leap backward to still take this seriously.
You just have to offset the monetary destruction by well-headed monetary creation.
The consequences for the world and for the human race are just tremendous: this is the end of poverty and economic crises.
Saudis are stupid: the Saudi central bank should just print money in order to replace the money destructed by this 6% drop (which is, under the light of the progress in economic sciences, irrelevant). This will be like nothing ever happened.
But instead, the brainwashed Saudi do what libertarians have lured them into doing: nothing.
Drops in stock markets do not destroy money they simply transfer wealth you fucking idiot.
All stocks are valued at IPO. All rises represent transfers of wealth from buyer to seller. All falls represent transfer of wealth from seller to buyer. Printing represents transfer of wealth from legitimate participants of the economy to counterfeiters.
Inflation and riots surround inflation represent anger from ....
http://www.youtube.com/watch?v=jrwjiO1MCVs
And how can you claim to be studying accounting when you are a total math retard and concept retard and can't figure out anything.
Really? I kind of thought goldmiddelfinger was Johnny. Maybe both?
You have been Hammied Hep...
Fuck!!!!! I can't get enough sleep damnit.
Focus focus focus.
I knew he'd get me sooner or later.
Well played hammy well played.
LOL, sleep deprived can't read...
I hope there aren't a lot of needless deaths. Christians anyway.
Bwahahahahahahaha,
its classic tonight , Harry and Hamy with their stars and stripes...
everyone looking forward to the Dow tanking and gold jumping out from those $1320 levels and going 'diabolic' - turd breathing easier after his big call and saying he'll disappear if he's not right come june - dinnae be daft turd we love you man....
its a vintage ZH thread and just when it couldn't get any funnier DR here nails it....
and gets badly junked
Who says americans dont do sarcasm???
Be good or we'll get out the cross again.
And the Irish Senate has approved the financial slavery deal just days before the current government is disbanded and new one is voted in. Will it stick?
if mubarak is deposed the tribe will install his replacement. problem solved.
1200 tons! woo hoo i hope he goes to the market and demands delivery
See FOFOA's blog to gain some insight as to what has to be done to buy REALLY LARGE amounts of physical gold.
fofoa.blogspot.com
Any CB with any brains is not going to give up 1200 tons for anything under $2500 per oz (my lame guess).
If it were me with 1200 tons, it would be:
$10,000 per oz, take it or leave it, bitchez!
Well, since everyone is sold out of physical silver, shouldn't it be "silver ETF lining" or "Dec16 silver future lining"?
I got a hundred on his head!
A market does not move 6% for precautionary reasons or defensive reasons. It moves 6% because someone I aware of something that is going to happen that will cause an economic shock in the region.
Markets move a long way if there's no bid. Question is what the real selling volume was.
http://arabnews.com/economy/article245993.ece
Saudi bourse plunges 6.43% on Egypt tensionshttp://news.yahoo.com/s/afp/20110129/bs_afp/egyptsaudistocks
Region?
"region"?
The necronomy is the result of the unintended consequences of Benocide.
+1 for Benocide
Damn! I always suspected they were Necromancers working for Underverse. Where is Vin Diesel when ya need him?
If you notice general profit taking and a market correction, proceed to add to your positions and increase your portfolio.
Nothing to worry about ... all these issues will subside as soon as Benny stops printing $100 billion per month !
Footnote: Egypt GDP is $189 billion annually.
Ben can stop inflation in like fifteen minutes. The problem is that there's no inflation.
+1000
Mebbe they sell becuz' they need the money... I'm juss sayin'.
If the riots in Egypt are forcefully crushed, dissatisfaction will be rife. If the new government is not accepted, dissatisfaction will be rife. In my opinion, the key news is how long the egyptians stay on the street. Saudi is likely down on suez news and profit-taking, much more important is Syria - in a mid-east context.
But there is real destitution occurring everywhere...and governments are still fighting deflation...so the only question is, which armies will fire on their own populations?
Oh yeah the populations will be real happy when they see an even bigger jump in food prices by this time next month.
Even if they temporarily quell the dissidents, this thing ain't over by far.
You are correct. It ain't over..just read that Spain has the highest unemployment in the world. You take to the streets when you have nothing to lose.
Remember, these days it's easier to kill a million people than it is to control them.
Possible to see a 3% - 4% down day on Monday.
Open down 1%, then melt down the rest of the day to close at the lows.
I chose the wrong time to stop sniffing glue, Robo troll has turned bearish.
How could that be....??So if it takes a "Black Swan" Revolution to go bearish, so be it? Although it migt have been better for Robo and others to be prepared, right?
I don't really believe Robo was ever bullish. He was just playing the trend. He makes a living trading and that's what you have to do. While I don't always agree with his posts, it's hard to argue with his logic. Also, I doubt he got caught on the wrong side of the trade on Friday. A good trader is a nimble trader... and I suspect he's a good trader. If you're gonna play the market, you can neither love the market nor hate it. Those things will cloud your judgment. There's good reason why surgeons do not operate on their own family members.
(NY) USD will likely open higher on the back of gold/silver moving up. Oil will stay flat until mid day. Then Bernanke will twist the dollars nipples to keep it from going to high, as the dollar's rise will coincide with equities down 4%. I do not think Treasuries will get much of a bounce. Once the dollar evens out, oil will start to rise. After a brief sellof in precious metals they will start a second leg up.
Wait.......that was Friday. Well, I think we have a new trend, and it is likely to intensify if Europe makes any sudden moves. But know that we know gold rivals the dollar in the risk off trade, we know what happens if there is a sell off in equities/Euros. Bernanke does not want either a higher dollar or higher gold. I bet the PPT come out and double fist ETFs/stocks like there is no tomorrow. Greenspan has nothing on the Bernanke put.
Why dis the robo? he has seen the ups and is calling the downnnn!
@ taraxias,
Very funny!
I like having Robot around, he typically SHOWS us stuff that has moved, typically without an editorial.
Robo, is that really you?
...or are you channeling Gerald Celente?
People sell because they want their wealth out,those out first get to keep it,those out last get nothing.
How dare you call my collection of pink sheets 'nothing'. Cad!
I see the military stepping in to replace Mubarak, and that should temporarily put a lid on things in Egypt as the public apparently sees them positively (at least according to the propaganda I have seen).
But its just a cork in a volcano.
"Saudi Stock Exchange Plummets 6%"
What is quoted on the Saudi Stock Exchange?
Does it matter?
It matters locally which is all that matters to them. On the outside the riots or peaceful protests look the same but each country is venting their own unique frustrations.
Thank you.
It matters not to the peasants then. They are, are they not, always peasants?
It is a sign of big money liquidating from Saudi Arabia into Gold?
1. Companies that manage, extract and/or ship oil, and companies dependent on direct subsidies from those activities.
2. Depends on if you like using oil.
What companies?
No construction companies?
No food companies?
No intellectual property companies?
Do you have names?
http://www.tadawul.com.sa
[and hit <english> is the rest doesn't make sense]
Thank you.
Interesting and saved.
Banks & Financial Services down 4%
Hotel & Tourism dowm 8.83%
Petrochemical Industries down 8.37%
I wonder what the weightings are?
btw your last name is misspelled.
I know.
Bloody shame. Can't change it.
Stop it! Stop it! Yer killing me......
My sides are spitting... i mean... splitting...
i'm putting this whole thread in my favourites.
Happy to be of service old bean.
Ahem, sorry for that hysteria - on-call all weekend so a bit frazzled last night.
Tell me Welly - if you get this - What say you on the future of blighty?
It shows panic. I would not try and put a positive spin on panic.
Not trying to.
Just interested in what is quoted on the Saudi Stock Exchange.
Scared money liquidating?
Yeah. I'll buy that.
But who are the scared money?
Are they House of Saud?
You don't understand....
It shows painc in the market.
The House is panicking. The House is ripe for an over throw. These oilgarchs are fat and out of touch. People are hungry and fed up. The shit is on.
If you insist.
The "protests" looked to me like a set up.
A bunch of middle class Saudis stired up to "walk" and shout a little.
Where were their slaves?
The Pakistanis who clean up their shit?
If one of them "protested" they would be shot on sight.
It's a protest.
Haven't you ever seen a protest, my Lord?
Seen & Done.
Expect widespread looting and a spike in violent crime in Egypt. The longer Mubarak waits, the worse it will get. A lot of lives could have been saved if only he had resigned within hours of the start of the demonstrations.
Imagine what will happen if / when this spreads to China, which the Chinese government is already worrying about:
http://www.ibtimes.com/articles/106610/20110129/china-censoring-egypt-pr...
it spread to China in the spring of 1989 and we know how that turned out
coming to a Walmart near you - Snuggies® made with fine Egyptian cotton