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Commodities Gone Wild
It all makes perfect sense. S&P 500 futures are 33 points off Friday's lows (Boehner's 'constructive chatter' and Fiscal Cliff is fixed), EURUSD is rallying decently (Greece is fixed), and commodities in general have gone vertical. Gold is back above $1730 but its Silver and Oil (tensions rising - despite cease-fire?) that is running the high-beta pump this morning. WTI is almost 4% higher than Friday's lows up near $89. The highly correlated nature of everything is perhaps merely sympomatic of a low volume week ahead and short-term oversold conditions - we suspect little is really resolved in any of these three 'event risks' and the same real-money anxious investors will use strength to reduce exposure further - since remember, if the S&P 500 is anywhere near its highs by year-end, there will be no fiscal cliff resolution.
Chart: Bloomberg
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Tom Keene has been providing the play by play all morning
"we're getting reports media center taken out in Gaza - Ohhhhh Look at that Brent just spiked up"
what a douche he is
I'm sure we can expect to hear from all the douches today.
One of the douches speaks tomorrow:
November 20 Speech--Chairman Ben S. BernankeThe Economic Recovery and Economic Policy
At the Economic Club of New York, New York, New York
12:15 p.m. ET
People have heard Bernanke has had an epiphany. He has reviewed his grade 5 mathematics and discovered that to reflate the US economy he needs to print at least 100 billion a month to cover the US trade deficit and also begin to add back some lost equity. (Excluding of course the twist program which is just for the government largess)
ten o'clock witching hour for silver. set your watches. getting hit now, just like a fine tune swiss watch
BUY
Stacka-stacka-stacka. Mo silver.
We hot chicks love the douche bag guys.
http://www.holytaco.com/25-hot-chicks-douchebags/
Financial nerd goldbug preppers? only to the extent they buy us gold jewelry.
Got STDs?
reheads not warheads.... blondes not bombs..... brunettes not fighter jets...
As Chris Rock said...
"If a girl has a pierced tongue ~ she'll probably suck your dick"
"If a guy has a pierced tongue ~ he'll probably suck your dick"
~~~
And remember... Whatever anybody tells you... THERE IS NO SEX IN THE CHAMPAGNE ROOM...NONE!
http://www.youtube.com/watch?v=N03oUt9w3p0
Aww now I'm really wishing you had come over and beat me up.
Thank goodness. Imagine a decent guy getting caught up with one of those hideous creatures.
Wait what? In order to actually do anything or produce anything real you need energy and commodities? Who would have guessed it?
Bloody sheep.
Is that core or non-core?
well lets get that dumbas's Mashaal to antagonize Israel some more (HA HA, you missed me, you missed me) so a full scale ground war can be launched in order to snuff out any optimism over common sense prevailing. We wouldn't want any of that to contribute into a bullish environment now would we... unfreaking believable.
must be bonus season
oh yeah, "bonus season". Who could have predicted?
at S&P 1392 the trend turns up... at this moment, we're at 1384... c'mon big bonus'
No Whammies! (meet the new cast & talent lineup at CNBC for 2013)...
~~~
http://www.youtube.com/watch?v=VIJYfvN9954
Gold, bitchez.
What happens when the world wants their gold, they were storing here for safe keeping, back, and they find out the US spent it?
This was to be expected. We saw a high volume reversal at 11:30 a.m. Friday (at the European close, courtesy of the Boehner/Pelosi short squeeze) off of an oversold market. Now, we have a light holiday shortened week which is usually up anyway. At the end of the week, let's see where we are to possibly set up another short opportunity. Just don't be short this week...
Everybody is waiting to see if the test of the ES 200DMA will fail. Until then, we go up.
with europe having an orgasm today, dow +200 and es +20 eod
D-Bags on CNBC should be spouting about upcoming Santa Claus rally soon. If their ratings suck so bad why do they keep doing the same dumb shit with the same dumb asses?
Because they have nothing else to say?
I mean, you aren't suggesting they broadcast the truth, are you?
I'm waiting for the Kittens and Puppies channel. All cute, fuzzy, playful pets, all the time!
BlowHorn random quotes,
1) "the valuations look very attractive here".
2) "it's a stock pickers environment, there are opportunities out there".
3) "investors need to have a strategic global perspective to ride out the volitility".
Investiment opportunity of a LIFETIME for a LONG term investor.
see above ^^^ comment for a preview of the new 2013 CNBC on-air talent lineup...
Plenty of room to snap back towards 1400 in the coming low holiday volumes and PPT pumping.. which is revealed in the move in gold and energy. I'm wondering to what level congress will pump this thing up while they position for the complete opposite of what their media cheerleaders are instructed to present to the public. Do they wait until hours before the cliff hits to surprise us that there is no deal ?
The US fell off the cliff yrs ago. We're just in rerun phase now. Just like Wil E Coyote.
Start of the Santa rally? I'm thinking so. Weak hands sold, shorts clobbered with the stop hunts intraday. Easiest path is upwards, fundamentals be damned.
They better watch out with pumping markets, then the fiscal cliff bullshit wont ever get anywhere.
But, but, Options expiry is coming up, what are we gonna do?????
I was planning on leaving.....if you want to stick around and get killed....go nuts.
I thought that was last week..hence the attack on the PM´s.....to many options in the money...
When Ben Shalom found out they forgot to reload the bullets over the weekend....he was super cheesed.
As the drums of regional war beat in Gaza and Syria, the drums of WS bypassing the regulator continue to sky rocket.
This world is mad beyond reason, and its sad beyond the limits of rational tolerance :
Shadow Banking Is $67 Trillion Industry - Business Insider
The WMD juggernaut just builds up more momentum. Socialised debt is your problem...the smoke and mirrors is our competitive advantage as the elite behind the tinsel curtain.
If the S&P is anywhere near its highs, there will be no fiscal cliff resolution?
I don't even know what that means. But I do know what 85 billion a month in QE means.
$85 billion a month QE means....what exactly? No ones buying it.
this is so freaking depressing... still 3 weeks before I have extra budget to buy...
I hope they intervene and clob it like a canadian baby seal ...
Was there ever a doubt that the can would be kicked down the road?
There is no such thing as "oversold" or "overbought"...wall st buzzwords for the simple minded.
If a condition such as "oversold" or "overbought' existed and could be quantified then no one would buy "overbought" and no one would sell "oversold"
If these conditions could be known then they would never approach them as only a fool would pay more for or sell for less
It implies that there is one true fixed fair price ordained by god himself and anything either side of that is either "overbought" or "oversold"
It implies that this perfect price can be known and anything either side of it is either "overbought" or "oversold"
There is no such thing as "fair" value..it is was and always will be subjective
There is no such thing as any viable technical analysis
Just one more propaganda con by the owners of the casino
Actually, it is a technical indicator that determines an historical price of a given thing relative to itself. Prices rarely get higher or lower by two standard deviations from the historical price model, say for 28 days (or candles...), or whatever your settings are.
So yes there is such a thing as overbought or oversold. See CCI and RSI indicators as good examples.
:D
Nice dodge of the question. Use moar TA trader lingo to bolster your "argument".
Did you miss the part about broken markets and rigged casino?
Oh that's right, there is no manipulation is there Orly? Maybe you can explain the Gold/XAU ratio and why it has failed to reset to historical norms since 2008 (yet gold is $1000 dollars higher)?
Pluss 1 Bay
Paper Humpers like orly love the ass raping they take by algorthmic trading
They'er sphincter so streched its just a flow of crap .. just like he/she is doing now .
Relative to itself.
Can you read or do you just like to be a dumbass?
Here, here. Finally a spot on comment on the thread.
But, it allows the masses to 'play along', right? If it was all highly intellectual analysis and commentary then 90% of the dipshits trading would have to take their ball and go home.
This is simply a stupidification for the masses to get the middle class to gamble and provide liquidity.
It works like charm, too.
Does this mean the bankster tantrum (cuz of election) is over..??
No it means the DOW is pumped +100 on a Monday futures ramp based on nothing, except maybe fever dreaming about Black Friday which will be awful, and everyone is right back to thinking all is well.
Ridiculous.
What is a fiscal cliff resolution? So we expect the same people whose policies resulted in such chaos to now know a solution? One thing is certain, they have no ideas and no answers, except ones that further their disgusting agenda.
if the S&P 500 is anywhere near its highs by year-end, there will be no fiscal cliff resolution.
Book it. This could also mean that the "resolution" will simply be an extend-pretend, because any resolution that involves real tax increases ("revenue" - euphemism of thieves LOL!) or spending cuts will tank the markets. She's too far gone. Nothing to do but print.
Have the politicians come back from vacation yet? I doubt this is because of any fiscal cliff "resolution" either real or perceived.
Sounds more like behind the scene CB shenanigans.
No kidding. Along with the 'chart reading for the clueless that want to believe in something' non-sense.
It's all an attempt to suck in the marginal intellectuals into believing they can play at a professional level. Dumb down everything to a point where it's easy to digest for the meaty part of the IQ curve and you have inflows of money.
It's all just a modern three card monte game ran by the elites. It's a fleecing mechanism and nothing more.
Turkey Day false flag!!
Hope rallies are back. When there is nothing else, fake hope rules.
When fundamentals are falling, there's always hope...
Someone doesn't want silver to go over $33 at this particular moment.
I added to my stockpile when we last went down to $28. Think there will be another opportunity under $30 or are we past that point now? Would like to add some more...
I took delivery of more last week.
I think it would still be a good buy at 34$.
David Morgan said he doesn't think it will ever go under $30 again, but no one actually knows. ;)
$33 has been violated, could break up today or tomorrow.
At this point I pessimistically believe it will stay up today, but they are going to smack it down again during the Bernanke speech tomorrow.
Hulk....smash can!