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Stocks Continue To Underperform Gold
While the biggest near-term catalyst for the market will be the imminent earnings release from AAPL, which itself defines the market due to its massive weighing in various indices, stocks once again fizzled when priced in gold. The S&P for October continues to underperform gold, and today closed unchanged priced in non-fiat, which merely reaffirms that the loss in dollar purchasing power is not being compensated by the stock bubble. And yes, this happened even though it was a POMO day. As we have speculated, gold has become nothing less than a natural short hedge to stocks: one, which, however unlike traditional shorts, has no upside limit. As long as retail refuses to throw its hands up and join the ponzi orgy, the relative underperformance of stocks will continue. In the meantime, there is no POMO tomorrow.
Update: Post IBM earnings, ES is now largely red.
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No POMO tomorrow.
Big Blue down after hours.
France in disarray leads to dollar bounce overnight.
Yep. The "market" will be down tomorrow.
http://www.google.com/finance?q=NYSE:IBM
Every dollar IBM falls the dow falls 8 points.
VMW was up $3, reversed now down $4
IBM down $4 and accelerating
VMW getting blowtorched, down $5
AAPL backing off now down $2
IBM just overbought. Great earnings and raised guidance. AAPL will crush but will it be enough to run it higher is the question?
Down 22 at this point.
Apple halted but missed big on margins and not even close on estimates for iPads. No wonder I never see anyone with them.
Come work in the creative industry, bout half of my users here have one. Ghey
This creaky Matrix
Signals the end is nearing;
Crying tears of Gold.
Just a wild guess but I'm betting AAPL earnings will be "better than expected".
Oil at $83.19 up 2.39%. Oil can derail the stagnant recovery we have in place in the US. Print more money, inflate oil in dollars, and risk another recession. I am sure the Fed plan is based on "hope", hope they rebuild confidence and resume growth before something like Oil rears it's ugly head.
To me, Fed does not directly care about Gold. However, Oil is a huge risk to their plan.
wtf happened to SPY after hours? - Ned
The Viagra wore off. Where's the beef?
http://www.youtube.com/watch?v=Ug75diEyiA0
AH Flash Crash in SPY?
http://etf-central.com/2010/10/18/ah-flash-crash-in-spy/
Interesting piece here from FT. The only fault I can see is that every premise is wrong. Otherwise it's spot on....
Few silver linings when gold bubble bursts Financial Times
It starts out assuming that gold is in a bubble. How can progress be made from that baseline?
And only 5 factors affecting the pricing:
Where do they get these people?
At "Shills R Us"
RR<
Article by Larry Edelson,
He agrees w/ Bernake 100%, because he say's he's right, and has ZERO choice, very interesting short read.
http://howestreet.com/articles/index.php?article_id=14888
Also ROCKY, go to jsmineset, and read Pedros letter to Jim, and if you got that link from there, I am sure your read Jims response....food for thought.
Classic statement from Larry:
That's about the most ignorant thing I've ever read! Even in the same article he says gold is going higher. Major disconnect.
I get Sinclair's memos every day. Get tired of hearing $1,650.
Wish we'd get there and move on.
The obtuse observer thinks that anything that has a certain profile on a chart must, by necessity, be in a bubble, not considering that maybe they are looking at the wrong chart(s). In order for something to be in a bubble it must be widely held. Paper gold might be, though I think not, but physical isn't even within earshot of being widely held. As for the FT, a bastion of brainwashed soft money advocates, their take is to be expected.
All I wonder is will we get as many posts when stocks outperform gold or is it only noteworthy when the opposite occurs?
Anyone remember those "S&P 500 IN EURO" charts when the Dollar was trashed in early 2010? Those went away quickly when the EUR collapsed.
And gold continues to underperform silver.
Yeah, that's like a blow job from Megan Fox underperforming a thorough rogering from Amy Adams.
I agree that the premise is a bit off Mr Raccoon.
Gold can be an investment (relative and temporary gains should always be translated into realized Gold wealth gains), yet predominantly it is an absolute wealth insurance program. Gold price manipulation is a handy tool to be used by ZeroHedgers for wealth creation!
It is imperative to perceive the essential nature of Gold on the proper timescale.
Those with a fiat bias perceive the PManus revolving around the TP.
The well potty trained should know that Charmin ultimately revolves around the Golden Bung.
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