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Thu, 07/01/2010 - 11:06 | 446462 mtomato2
mtomato2's picture

AAAAHHHHHH HA HA HA HA HAAAAAHHHH!!!!!!

 

I LOVE you guys!

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qrs521's picture

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Thu, 07/01/2010 - 11:07 | 446471 IE
IE's picture

If by soon you mean as far out as next week - then, "no".

Thu, 07/01/2010 - 11:07 | 446477 traderjoe
traderjoe's picture

Gold $1,500? $2,000?

Thu, 07/01/2010 - 11:19 | 446530 mabijaoude
mabijaoude's picture

I hope so, but I don't fully understand this second drop in a week.  Gold/silver market is confusing...

Thu, 07/01/2010 - 11:26 | 446561 -1Delta
-1Delta's picture

aussieyen and loonieyen are deflation do you see the 10yr?

Thu, 07/01/2010 - 11:30 | 446573 Kali
Kali's picture

Time to buy more PMs, it's a gift!

Thu, 07/01/2010 - 11:39 | 446605 thesapein
thesapein's picture

Hold tight. We could be in for a wild ride, but don't let them shake you. We could see another dramatic fall for gold and silver, though I'm really curious who is selling their gold and silver positions during a crash? That's like going into a panic and running right out into the line of fire.  

Thu, 07/01/2010 - 12:41 | 446791 Hammer59
Hammer59's picture

Weak hands. Dont worry, Goldbugs NEVER panic....unless it drops over $80.00 in a single day.

Thu, 07/01/2010 - 12:48 | 446811 Hammer59
Hammer59's picture

Weak hands. Dont worry, Goldbugs NEVER panic....unless it drops over $80.00 in a single day.

Thu, 07/01/2010 - 14:22 | 447051 idoubtit
idoubtit's picture

Zero Hedge is becoming a gold cult.   Nothing wrong with gold but it to hold it in the event of a big decline borders on insanity.  Why not sell it and buy it later?  It's ok to have a thesis but when reality starts contradicting a theory, one would do well to side with reality.

Right now gold is losing momentum to the upside with non-confirmations between the gold price and gold equity prices.  Even in the light of a possible dramatic fall in gold, to recommend holding doesn't make a lot of sense to me.

Thu, 07/01/2010 - 15:10 | 447165 pan-the-ist
pan-the-ist's picture

The gold bugs buy physical.  Sell your gold ETF if you are uncomfortable.  The bugs won't be selling their physical for years.  This is a buying opportunity in that context.

Thu, 07/01/2010 - 15:28 | 447230 thesapein
thesapein's picture

Basically, my working models aren't very good at making calls on a daily, weekly, or even monthly basis. Star charts are just as good for me. So, instead of thinking like a day trader trying to out smart other day traders, I've gone on to thinking like an investor in my own future.

Why sell what you intend to buy back later unless you can accurately predict these things, in which case, keep that info to yourself because otherwise your own models start to fall apart unless they can factor in themselves, taking into account that anybody can accurately predict these things. Careful the model doesn't overload from the feedback loop. Tricky real world dynamics and all.

Admittedly, I'm not at all sure what range gold should be trading at, personally. It seems fine where it is at for trading as an industrial metal, but could easily trade higher as more people store it in vaults.

So, you call us stubborn. We call you whimsical. But this is all only half of the story. The other half is what you'd have to trade into, such as the FUBAR alternatives.

If you don't know what tomorrow will bring but you had to stop trading today, how would you position yourself?

Thu, 07/01/2010 - 11:40 | 446610 Johnny Bravo
Johnny Bravo's picture

"I hope so, but I don't fully understand this second drop in a week.  Gold/silver market is confusing..."

Rising wedge = broken, although the long term rising wedge is still intact. (not to mention that it's been trading at the top of its bollinger band for some time now, while showing massive divergences)

Gold isn't going to 1500, though.  I'd get out pretty soon.

Thu, 07/01/2010 - 11:42 | 446616 -1Delta
-1Delta's picture

this isnt that hard everybody aussieyen and loonieyen are down hare... this is deflation... pick it back up in a bit

Thu, 07/01/2010 - 12:24 | 446744 thesapein
thesapein's picture

Out of gold and into what? Silver, maybe?

Oh, wait, lumber is doing well today. Sure, no one will be building anything for awhile but let's not forget paper!

Thu, 07/01/2010 - 12:34 | 446770 Johnny Bravo
Johnny Bravo's picture

The wedge broke on silver too.

Just like the market, the PMs were making negative technical patterns for some time.

Now, gold -40.  Holy buckets.

Told y'all about the rising wedge.

Thu, 07/01/2010 - 12:45 | 446802 tmosley
tmosley's picture

You gotta love how some smug jackasses think that a one day move is a confirmation of their thesis, while ignoring overarching trends.  

Thu, 07/01/2010 - 13:46 | 446962 Bendromeda Strain
Bendromeda Strain's picture

C'mon, it's the only TA some guys will ever see. I tend to believe that Jesse was right. The cup & handle freaked da boyz out...

http://jessescrossroadscafe.blogspot.com/2010/06/gold-daily-chart_30.html

Thu, 07/01/2010 - 13:50 | 446977 thesapein
thesapein's picture

I can totally get why gold might be overvalued, but silver? Help me understand.

Thu, 07/01/2010 - 14:54 | 447123 ozziindaus
ozziindaus's picture

If by paper you mean dollars then absofuckenlutely. Forget all the nonsense about the Fed printing all the debts away. Can't and won't happen.

You can buy more gold later with those "useless" dollars but I doubt the public sentiment would be skewed in that direction when it's bottoming out.

Thu, 07/01/2010 - 11:22 | 446544 Edmon Plume
Edmon Plume's picture

Phys gold is falling off a cliff right now.  $1218 as of right now.  Keep falling so I can buy more!!!

Thu, 07/01/2010 - 11:27 | 446563 tmosley
tmosley's picture

lol, you think the spot price is physical gold!?

Thu, 07/01/2010 - 11:41 | 446612 Johnny Bravo
Johnny Bravo's picture

Yeah, physical gold is even more overpriced, and less liquid.

Thu, 07/01/2010 - 12:21 | 446734 tmosley
tmosley's picture

That new avatar of yours is quite fitting, JB.

Thu, 07/01/2010 - 12:35 | 446773 Johnny Bravo
Johnny Bravo's picture

Yes, the GOP does have its head up its ass.  You are correct.

Thu, 07/01/2010 - 12:31 | 446762 thesapein
thesapein's picture

At what rate would you price gold at? Should it be just a little bit above mining costs, assuming supplies are able to continue to keep up with physical demand?

I'm just searching for more objective measures, myself.

Thu, 07/01/2010 - 12:37 | 446781 Johnny Bravo
Johnny Bravo's picture

I don't know that it should be slightly above production costs (400 an ounce) but it shouldn't be selling at a 300% premium either.

I have targets in the 900s for the recent rising wedge, and targets around 600-700 for the longer term rising wedge that has been playing out for ten years.  The longer term wedge is still intact though.

Thu, 07/01/2010 - 13:29 | 446921 thesapein
thesapein's picture

If gold only traded as an industrial metal, I'd be more inclined to agree. However, even those who aren't into gold should still be aware of the growing global demand for bullion. I'm aware that this demand could possibly level out, but now? Why now of all times?

Also, consider how historical charts always have anomalies centered on events. Try explaining the charts of the 70's without mention of Nixon pulling the gold standard, just using your lines and curves technique. 

Thu, 07/01/2010 - 11:40 | 446611 thesapein
thesapein's picture

Lots of gold fleas being shaken off.

Gold bugs holding tight....

Thu, 07/01/2010 - 11:45 | 446637 JLee2027
JLee2027's picture

Phys gold is falling off a cliff right now.  $1218 as of right now.  Keep falling so I can buy more!!!

You mean the manipulated paper, phony gold.  

Thu, 07/01/2010 - 11:08 | 446484 Caviar Emptor
Caviar Emptor's picture

How bout SPX 1000?

Thu, 07/01/2010 - 11:29 | 446572 -1Delta
-1Delta's picture

with the AUDJPY try 900

Thu, 07/01/2010 - 11:09 | 446486 Amish Hacker
Amish Hacker's picture

Much better to panic now and avoid the rush later.

Thu, 07/01/2010 - 11:38 | 446603 MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

ALL IS WELL!  REMAIN CALM!

Thu, 07/01/2010 - 11:41 | 446615 thesapein
thesapein's picture

"I recommend you panic."

Thu, 07/01/2010 - 11:09 | 446488 Whizbang
Whizbang's picture

Depends on how short on equities the major houses are. If they went in whole-hog, you could look at a dow 8000 model.

Thu, 07/01/2010 - 11:10 | 446489 Magua
Magua's picture

as quickly as this is falling apart - you may be changing hats quite soon

Thu, 07/01/2010 - 11:46 | 446638 thesapein
thesapein's picture

Overnight delivery may be too long.

Only hats, no shorts?

Thu, 07/01/2010 - 11:11 | 446495 LoneStarHog
LoneStarHog's picture

Sometime in 2012 you can remove the nine (9), as global markets will be at virtual ZERO.

Thu, 07/01/2010 - 11:11 | 446496 101 years and c...
101 years and counting's picture

we're just one "fat finger" order away.

 

Thu, 07/01/2010 - 11:29 | 446571 HellZero
HellZero's picture

i have a bid below at 0... just incase

Thu, 07/01/2010 - 11:11 | 446497 themosmitsos
themosmitsos's picture

it's got ONE TOO MANY ZEROS ON IT :pppp

Thu, 07/01/2010 - 11:13 | 446507 Cognitive Dissonance
Cognitive Dissonance's picture

Just attach a scrolling LED screen to allow for the changing reality. Then sell advertising space on your chest.

Thu, 07/01/2010 - 11:51 | 446656 thesapein
thesapein's picture

and interrupt yourself every five minutes with a 30 sec add of which you act out for the entertainment of your friends. If they'd prefer you without interruptions, they can subscribe for add-free lively conversations.

Thu, 07/01/2010 - 12:01 | 446675 Cognitive Dissonance
Cognitive Dissonance's picture

LOL

You're way ahead of me. Do you work on Madison Ave? :>)

Thu, 07/01/2010 - 12:37 | 446783 thesapein
thesapein's picture

sorry, you're posting to the demo version of thesapein.

your free responses are up.

if you would like to continue this thread, please subscribe to the full version.

Thu, 07/01/2010 - 11:11 | 446499 Temporalist
Temporalist's picture

Everyone's favorite Michael Pento is on CNBC now...

Thu, 07/01/2010 - 11:16 | 446517 Cognitive Dissonance
Cognitive Dissonance's picture

Poor Michael doesn't suffer fools well. The look of incredulous disbelief on his face is priceless.

Thu, 07/01/2010 - 11:21 | 446536 Temporalist
Temporalist's picture

Clearly he and Steve Liesman don't go to each other's houses and share laughs.

 

Thu, 07/01/2010 - 12:49 | 446812 traderjoe
traderjoe's picture

+1

Thu, 07/01/2010 - 12:49 | 446813 traderjoe
traderjoe's picture

+1

Thu, 07/01/2010 - 12:49 | 446814 traderjoe
traderjoe's picture

+1

Thu, 07/01/2010 - 11:23 | 446549 Cleanclog
Cleanclog's picture

And Leisman is such a screecher  "you were wrong Michael, show me where the inflation from QE is, show me tell me  ewee ewee ew".  Really !

Thu, 07/01/2010 - 11:36 | 446597 Cognitive Dissonance
Cognitive Dissonance's picture

I saw, and heard, that exchange. Michael was trying to say that there was inflation but it was countered/offset by the massive deflation. Besides, it's the government who's counting inflation, so it's severely uncounted. And the real inflation is around the corner.

But Liesman wouldn't shut up. He acted like he'd just found a 1 lb Gold nugget and he was going to stuff in Michael's face as proof. I'm right and you're wrong. Like a 5 year old who has been wrong for the past 4 years and 364 days, today he's "right" so he's going to make sure EVERYONE knows about it.

Everyone who's been drinking the Kool-Aid is beginning to go into full panic mode. This re-recession just shouldn't be happening from their point of view. So the excuses will now begin.

Thu, 07/01/2010 - 12:38 | 446785 Crummy
Crummy's picture

Well that, and we're not exactly dealing with a single ocean system where liquidity is evenly distributed.

More of an ocean with a small canal lock leading into a vast desert with a dwindling food supply and naturally occurring sand castles.... Maybe a talking dolphin...

Is it vacation time yet?

Thu, 07/01/2010 - 11:11 | 446500 dudley
dudley's picture

They needed this to cover their PM shorts and scare us into doing another QE.  Now it is time to go back up.

Thu, 07/01/2010 - 11:29 | 446569 OutLookingIn
OutLookingIn's picture

 

 

 Dow and Gold @ 1:1 ratio = 5,000 Coming soon! Okay. Maybe 4,650 then.

Thu, 07/01/2010 - 11:17 | 446504 firstdivision
firstdivision's picture

Has the death cross occured on the SPX?

Thu, 07/01/2010 - 12:05 | 446686 hamurobby
hamurobby's picture

If someone could help with this, it would be much appreciated, my charts are not clear as to when this will occur.

Thu, 07/01/2010 - 11:13 | 446506 LoneStarHog
LoneStarHog's picture

Can you make those zeros into CNBS windows with their most hated personalities?

There are so few zeros and so many CNBS choices....

Thu, 07/01/2010 - 11:14 | 446510 Weimar Ben Bernanke
Weimar Ben Bernanke's picture

LOL man Tyler you guys have the best humor. hilarious. Its great to find humor when the world is collapsing.

Thu, 07/01/2010 - 11:42 | 446618 MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

+10

Thu, 07/01/2010 - 11:14 | 446511 subqtaneous
subqtaneous's picture

Agreed.  Let's give Independence Day a whole new meaning this year.

 

Thu, 07/01/2010 - 11:14 | 446512 You Cant Handle...
You Cant Handle the Truth's picture

Try not to piss yourself laughing when you read this:

http://blogs.wsj.com/financial-adviser/2010/07/01/seven-reasons-the-sp-5...

Thu, 07/01/2010 - 11:18 | 446521 Temporalist
Temporalist's picture

I couldn't get past the first "reason."  There is probably demand from people buying boxes to move out of their foreclosed homes or buying refrigerator boxes to move into.

Thu, 07/01/2010 - 11:19 | 446526 You Cant Handle...
You Cant Handle the Truth's picture

LOL +1

Thu, 07/01/2010 - 12:31 | 446757 A Nanny Moose
A Nanny Moose's picture

Long carboard boxes for apppliances, short actual appliances. Got it

Thu, 07/01/2010 - 11:23 | 446546 PlausibleDenial
PlausibleDenial's picture

I couldn't gdt pass the headline nor the fact that it is the WSJ

Thu, 07/01/2010 - 11:28 | 446566 Edmon Plume
Edmon Plume's picture

"Why would the two companies involved in every [paper] shipment made around the world increase prices? Because demand is there."

Yes, it is, as governments around the globe need to print more fiat.

That was indeed funny.  I'll remember that when the s&p plummets like a falling chainsaw, buy pulp!

Thu, 07/01/2010 - 11:47 | 446644 Kegfreak
Kegfreak's picture

I busted out laughing just reading the title!  Then I made it to reason #4: Four: Consumer spending won’t slow, even with 10% unemployment.  What about 12%, 18%, 0r 23%!  Are we creating real jobs all of a sudden?

Thu, 07/01/2010 - 22:46 | 446654 Rusty Shorts
Rusty Shorts's picture

LMAO, I have a good friend who has worked for the RR for 30 years now, he says he has never seen anything like it, there is no freight, also says that the have to make up stuff to do, like running empty boxcars up an down the rails !!

Thu, 07/01/2010 - 11:52 | 446657 You Cant Handle...
You Cant Handle the Truth's picture

I agree with all the posters above me.  This article is quite funny and Tyler you should check it out if you haven't. Predicting S&P 1500 in these times is bad enough, but the reasons this blogger at the WSJ puts forth are thin!  

The only way I can understand it is if this blogger were sitting on this article for awhile, running late with it, and then had to dump it on the blog today, because it was only going to get more unbelievable in the days ahead.

Thu, 07/01/2010 - 14:48 | 447108 oklaboy
oklaboy's picture

somedoby get me that guy is smoking, we are all gonna need some

Thu, 07/01/2010 - 11:15 | 446514 Ruth
Ruth's picture

Knockin It Out of de Pawk!  As usual Ty! 

Thu, 07/01/2010 - 11:21 | 446532 Cognitive Dissonance
Cognitive Dissonance's picture

Hi Ruth.

Do you realize you just celebrated your one year anniversary on ZH a few days ago?

Happy birthday Ruth. :>)

Thu, 07/01/2010 - 11:24 | 446551 mtomato2
mtomato2's picture

What a hugely thoughtful thing to do!  CD, you are what's right with the internet.

Fri, 07/09/2010 - 19:09 | 446844 velobabe
velobabe's picture

Thu, 07/01/2010 - 15:43 | 447295 Ruth
Ruth's picture

So that's what Lizzy was talking about, THANKS TO ZH ETAL I'm that much smarter!  Growing up is hard to do!

Although I have to admit I probably lurked for sometime before courage to break free out in the open.  Thanks Cog, for the Birthday Party and now for my wish!   

 

Thu, 07/01/2010 - 11:23 | 446545 Temporalist
Temporalist's picture

Ruth no offense but for your ZH birthday instead of giving you a punch I am junking you!

Happy 1st!

Thu, 07/01/2010 - 11:26 | 446557 mtomato2
mtomato2's picture

...and one friendly junque from me, too.

Thu, 07/01/2010 - 12:07 | 446691 Cursive
Cursive's picture

Congrats Ruth!  Beat me by a day. :P

Thu, 07/01/2010 - 12:27 | 446752 Cognitive Dissonance
Cognitive Dissonance's picture

There you are. I've been looking for you. Lots of veteran ZH birthdays this week. I didn't want to forget you Cursive. Thank you for your contributions to ZH.

Happy birthday Cursive. Since it's a cupcake, you don't have to share. :>)

 

Thu, 07/01/2010 - 12:35 | 446772 mtomato2
mtomato2's picture

So shall we junque Cursive today or tomorrow?

Thu, 07/01/2010 - 12:59 | 446837 Cognitive Dissonance
Cognitive Dissonance's picture

Today. Cursive is 1 year and 12 hours old right...........NOW. :>)

Thu, 07/01/2010 - 15:08 | 447155 Bendromeda Strain
Bendromeda Strain's picture

Happy Junk Day, Cursive

Thu, 07/01/2010 - 15:45 | 447302 Ruth
Ruth's picture

Happy Birthday Cursive!  Make a Wish!

Thu, 07/01/2010 - 21:57 | 448152 Miles Kendig
Miles Kendig's picture

Happy Birthday Ruth, Lizzy & Cursive.  Great gang.  Peace

Fri, 07/02/2010 - 01:55 | 448536 Ruth
Ruth's picture

Happy Birthday to you Birthday Boy!  I'm late by 7 hrs but hey, we're born just a few hours apart!

Thu, 07/01/2010 - 13:42 | 446951 Temporalist
Temporalist's picture

Now I have to junk you too?!?!

That is more junks for me on one thread than I've given in a month.

Happy ZH bday!

Thu, 07/01/2010 - 11:16 | 446516 Divided States ...
Divided States of America's picture

I smell a flash crash/dash this afternoon.

Thu, 07/01/2010 - 11:26 | 446560 Hephasteus
Hephasteus's picture

Parse error: parse error, unexpected spanish inquisition in /var/hft/index.php on line 51

Thu, 07/01/2010 - 12:36 | 446777 A Nanny Moose
A Nanny Moose's picture

rofl +1.

cd /pub

more beer

Thu, 07/01/2010 - 11:17 | 446520 SwapThis
SwapThis's picture

Should be a miner's helmet instead of a baseball cap, with a 'ZH' logo on the side of the little light on the helmet.

Thu, 07/01/2010 - 11:28 | 446564 Duuude
Duuude's picture

 

I like that...how about a pith helmet ?

Thu, 07/01/2010 - 11:32 | 446579 Temporalist
Temporalist's picture

I'm sure lots of people are pithed.

Thu, 07/01/2010 - 13:53 | 446983 Adam Selene
Adam Selene's picture

Yeth. At leatht thumb of uth are.

Thu, 07/01/2010 - 11:28 | 446542 plocequ1
plocequ1's picture

There will be no talk of a Dow 9,000 hat until you see one on the little chubby man with the red nose (Art Cashins) head.

Thu, 07/01/2010 - 11:21 | 446543 John McCloy
John McCloy's picture

And let's all remember to donate to ZH this weekend before Ben steals all our short profits.

Thu, 07/01/2010 - 14:33 | 447078 Amos Moses
Amos Moses's picture

Are donations to ZH tax deductible?

(first time poster)

Proud to be part of the ZH crew!!

Thu, 07/01/2010 - 11:24 | 446550 McTeague
McTeague's picture

 

"The error of optimism dies in the crisis but in dying it gives birth to an error of  pessimism. This new error is born, not an infant, but a giant..." - A.C. Pigou, 1920

Except this time, the skeptics are right. Keynesianism doesn't work when you've borrowed as much as (or more than) you take in.

Thu, 07/01/2010 - 11:28 | 446565 KJ
KJ's picture

LOL. Awesome.

Thu, 07/01/2010 - 11:28 | 446567 jd2iv987
jd2iv987's picture

what happened to flash crash 2.0?????

 

what happened to the LTRO needing to be rolled over?

 

no comment????

Thu, 07/01/2010 - 11:30 | 446574 Zina
Zina's picture

If tomorrow the Non Farm Payroll comes below 100,000 (including Census), SPX will fall well below 1000, then nothing will may stop the fall, it will be an atmospheric reentry, and Dow 9000 is just a matter of a few days.

On the other side, at the time of the announcement of Non Farm Payroll, I will be watching Brazil vs Holland, so I only will know if the market completely disintegrated when I wake up at Saturday afternoon, with a fucking hangover. Well, if the game ends the first half at 0 x 0 and the level of alcohol in my blood permits, I'll try going to a computer during the halftime interval to see the disgrace.

Thu, 07/01/2010 - 11:31 | 446578 Boilermaker
Boilermaker's picture

The market is having a "mid-day miracle" again anyway.  I would even be surprised to see it reverse all losses today by the close. 

It's completely detached from reality anyway.  I wouldn't be surprised at all to see some seriously epic manipulation by the bell.

Thu, 07/01/2010 - 11:33 | 446584 EscapeKey
EscapeKey's picture

Oh right, so the market moves from -140 to -100 in a straight line over 20 minutes. Yeah, that doesn't look suspicious at all.

Thu, 07/01/2010 - 11:44 | 446626 Boilermaker
Boilermaker's picture

Try -88, of course.

Look at IYR...now THAT's just unbelievably fucked up.  Yet, they do it over and over and over again.  Reggie wrote a good piece today on it.

Retarded.

Thu, 07/01/2010 - 11:34 | 446587 iPood
iPood's picture

...and yet Lumber is limit up on the Merc in the face of it all. If it's just hurricane related cover, why is November in contango? Going to keep that hat next to my Newsweek cover with the bear on it.

Thu, 07/01/2010 - 11:43 | 446623 Johnny Bravo
Johnny Bravo's picture

You deserve to make money just for having such a clever name.  Nice.

Thu, 07/01/2010 - 13:58 | 446995 dogbreath
dogbreath's picture

Lumber below 200 bankrupts sawmills in canada.  I think there was technical support plus a little self presevtion stategies playing out.

Thu, 07/01/2010 - 16:00 | 447364 thesapein
thesapein's picture

Maybe lumber has already been hit harder or already bottomed ahead of other markets?

Thu, 07/01/2010 - 11:35 | 446591 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

Do you accept payment in USD, Euros or Gold?

Thu, 07/01/2010 - 11:37 | 446598 Weimar Ben Bernanke
Weimar Ben Bernanke's picture

but but but GM's domestic sales in June rose nearly 11% Obamessiah said all is good in the hood. Ben "Weimar/Zimbabwe" Bernanke said all is good. Are the lying and clueless to the economy?

sarcasm off

Thu, 07/01/2010 - 11:40 | 446609 firstdivision
firstdivision's picture

I see the Squid finally booted up their computers for the day.  Look at the rebound on all bad news. 

Thu, 07/01/2010 - 11:45 | 446631 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

Chasing out the shorts and puts.

Thu, 07/01/2010 - 11:47 | 446639 Kegfreak
Kegfreak's picture

double post

Thu, 07/01/2010 - 11:47 | 446642 Standard Deviant
Standard Deviant's picture

Not too soon to send out orders for 2.0 to manufacturing -- even w/ the quick turnaround at idled Chinese factories.  You may have to keep the 3.0 in inventory for a LONG, LONG time.

Thu, 07/01/2010 - 12:05 | 446643 juwes
juwes's picture

ES marching back to 1030 in anticipation of manana.

 

Edit:  I'm targeting 1021... 1030 would be typical overshot but I don't trade for those on days like today.

Tomorrow should be insanely volatile.

Thu, 07/01/2010 - 11:49 | 446649 Cui Bono
Cui Bono's picture

Slightly off topic Inflation comment:  I track the one critical path item none can do without*   Angel Soft is always the cheapest.  It USED to be 501 st ft for $6.49 at Publix, Walmart, anyplace that carried it.  Once in a while Walmart would have a sale for $5.99 and I think I remember seeing $5.49 though not on a regular basis.  Now= you can not get the 501 sq ft package at any price.  The largest is 400 sq ft packages.   Make sure you ignore # of rolls and roll size- only the total sq ft matters.  This is an increase of 20% that occurred in one fell swoop.

I've also seen this in other personal items that are hard to do without- contact solution has gone from 4 to 3.5 ounce bottles AND the price went up a dime.  I;ve been trying to pay close attention since Dec, 2008 and I see these getting worse and worse. 

How bad does the REAL cost of living: eat, drive, poop, have to get before we admit there is an inflation problem?

And could someone explain to me how reducing the amount of TP in a package is a monitary supply issue- I have some ideas.teehee...  CB

*OK a bit of hyperbole but you get the idea.

Thu, 07/01/2010 - 12:12 | 446710 fearsomepirate
fearsomepirate's picture

I don't know if that last question was serious or not, but it's done to avoid sticker shock.  Producers have found that reducing quantity while maintaining price has a less adverse effect on sales than increasing price.  Customers notice when price goes up a lot more often than they notice when the quantity goes down.

Thu, 07/01/2010 - 12:19 | 446726 CarsRCoffins
CarsRCoffins's picture

But khaki's at the Gap are on sale!  Let's see...crude went from $40 to $70 (I'll discount another dollar or two because we're getting there), but energy prices don't count.  Health Insurance premiums are up 5-25%, but they don't count.  Hell, my friday night pizza and beers with my wife cost 20% more than last year, but they don't count.  Personally, I wish we really had deflation on the things that matter, but it's clearly not the case.  I don't need any new pants, but my family is looking forward to dinner every night

Thu, 07/01/2010 - 14:18 | 447044 ziggy59
ziggy59's picture

its called stealth inflation..its rampant..tuna fish is now 5oz instead of 6 oz.

64 oz of OJ now 59 oz...pt of icecream now 14 oz..64 oz of ice cream now 48 oz.

everything has gone down in size and up in price..

 

 

 

 

Thu, 07/01/2010 - 15:24 | 447217 cbxer55
cbxer55's picture

I do not buy much ice cream, but would'nt that be false advertising? A pint is 16 ounces, not 14. Or are they now selling it as 14 ounces?

Hmmm, wonder when a quart of motor oil will be 30 ounces? Might have to start pouring it out into a measuring cup and see if it is already happening.

Have gas stations re-calibrated their pumps so one gallon is 120 ounces, instead of 128? Now that would really seriously piss me off! 8-(

Thu, 07/01/2010 - 19:07 | 447842 ToddGak
ToddGak's picture

I thought I was the only nutjob tracking container sizes.  The one I like to use is spaghetti sauce.  The jars used to be 32 oz., then they went to 28 oz, then 26, then 24.  My wife showed up with some Giada DeLaurentis brand sauce that was in a 23.5 oz jar.  You can still find some in different quantities but they are definitely shrinking. 

Also a "pound" of coffee now tends to be 12 oz., at least for the good stuff (non-Folgers crap).

Generally when you tell people "this is what inflation looks like" they might give a slight nod, but I don't think people fully realize the situation because it is like the frog in the pot of water...the changes happen slowly enough that it's hardly noticeable.

Thu, 07/01/2010 - 11:55 | 446662 lizzy36
lizzy36's picture

How long tell Obama issues his "stocks are a good value here" V2.0 recommendation?

Thu, 07/01/2010 - 12:05 | 446683 Cognitive Dissonance
Cognitive Dissonance's picture

Lizzy just celebrated her one year ZH birthday 20 minutes ago.

Happy birthday Lizzy.

Thu, 07/01/2010 - 12:10 | 446701 Cursive
Cursive's picture

+1  Just a suggestion here.  To celebrate next year, we need a mud wrestling match between Marla, Ruth and Lizzie.  Think "Stripes".

Thu, 07/01/2010 - 18:17 | 447753 mtomato2
mtomato2's picture

...and Ms.Creant...

Thu, 07/01/2010 - 12:11 | 446704 Temporalist
Temporalist's picture

Oh Lizzy you get a ZH birthday junk from me too then.

Happy Bday!

Thu, 07/01/2010 - 18:15 | 447751 mtomato2
mtomato2's picture

I'm classier.  I give "Junques" for birthdays!

Thu, 07/01/2010 - 12:37 | 446780 carbonmutant
carbonmutant's picture

Happy Birthday Lizzy.

Should we start a club for those who've made it to their first birthday?

Thu, 07/01/2010 - 15:54 | 447342 Ruth
Ruth's picture

Thanks Lizzy for the salutation this a.m.  Happy Birthday TOO!  Now we can celebrate together!  Whohoo!!  Meet ya at  the #bar, let's kick off our shoes and dance our socks off, maybe we can get Steak to give us a tune!  Hat Tips to Cog our official Party Boy!

Thu, 07/01/2010 - 12:02 | 446671 walküre
walküre's picture

Please, let algos and HFT drive this market back up.

I'm not 100% positioned for the coming Q3 and Q4 crash!

... went only 50% short at S&P 1090

Thu, 07/01/2010 - 12:01 | 446673 seventree
seventree's picture

Your hats are so last century. Need one with programmable LED numbers so we can keep up.

The Deluxe version will keep itself constantly updated with a real-time 4G connection.

(I know, I know, it's brilliant but please don't embarrass me with exorbitant praise.)

Thu, 07/01/2010 - 12:10 | 446688 VFR
VFR's picture

http://news.bbc.co.uk/2/hi/world/us_and_canada/10474075.stm

Timmy the maggot found as a stowaway in rotten meat

"And as they're telling us to stay calm and seated, I see a maggot looking back at me and I'm thinking, 'These are anaerobic, flesh-eating larvae that the flight attendants don't have to sit with.'"

 

Thu, 07/01/2010 - 12:09 | 446697 CarsRCoffins
CarsRCoffins's picture

Where is Goldilocks Mr. Kudlow?  And seriously, could they fit any more monitors on the set of "The Strategy Session"?  I know I shouldn't be watching, but no soccer means I'm desparate

Thu, 07/01/2010 - 12:15 | 446714 been there done that
been there done that's picture

Don't worry, Greenspan just said: "the recent decline is typical of recovery"

Thu, 07/01/2010 - 12:11 | 446705 firstdivision
firstdivision's picture

Obama, you're holding the economy wrong.  Try removing your hand from the lower left corner. 

Thu, 07/01/2010 - 12:12 | 446707 juwes
juwes's picture

VIX flat today... There needs to be a 5% selloff tomorrow to make it go up and stay up.  No fear in the VIX, none.

Thu, 07/01/2010 - 12:13 | 446712 Possible Impact
Possible Impact's picture

From the title I thought Tyler was talking "Claire Wolfe",

glad to see it was just the Dow 9000 hat.

 

Thu, 07/01/2010 - 12:19 | 446727 juwes
juwes's picture

Anyone long the ES from the lows today besides me?  My sell stop at 1010.75.  Aiming for 1021 on this mini melt up.

Thu, 07/01/2010 - 12:22 | 446737 juwes
juwes's picture

ok, I'm stopping this scalp posting nonsense, lest the algos learned to read the internets for stops.

Thu, 07/01/2010 - 13:36 | 446940 juwes
juwes's picture

As much as I hate the rigged melt ups, it was nice to profit from it.

Thu, 07/01/2010 - 12:20 | 446733 JLee2027
JLee2027's picture

Massive Gold and Silver attack today.  Ignore it, it's just the crooks at Comex playing again.

Thu, 07/01/2010 - 12:27 | 446754 PheloniusRM
PheloniusRM's picture

Was this CNBC's effort to confuse the headline reading algos?

"Grew More Slowly...."

http://www.cnbc.com/id/38036133

Thu, 07/01/2010 - 12:38 | 446786 carbonmutant
carbonmutant's picture

I think that 9000 would have a lot more visual impact in Red.

Thu, 07/01/2010 - 13:14 | 446881 ozziindaus
ozziindaus's picture

I'll take a GOLD 1200 3.0

http://www.kitco.com/charts/livegold.html

Thu, 07/01/2010 - 14:38 | 447091 ozziindaus
ozziindaus's picture

Now that that's done, can I place an order for GOLD 1000 X.X? Please send before August.

Thu, 07/01/2010 - 13:33 | 446932 fallst
fallst's picture

2.0?

 

More like 4.0? Wait, 6.0, since 2002-3 had a visit.

 

1998goingup, 1998dn, 1998up, 2002dn, 2003up, 2008dn, 2009up, 2010dn.

 

That would be 8.0. Could be final version.

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