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Is This Why Gold Dumped And Stocks Pumped Today?
In the pre-market this morning, Gold had outperformed the S&P 500 by over 200bps for the month. By the close today (month-end settlement T-3) - given how synchronized gold and stocks have become - Gold and the S&P 500 will be perfectly unchanged for the month. Whether this morning's plunge in Gold (and rip in stocks) was the unwind of a major hedged position (or vice versa) is unclear - but the coincident reaction around the election suggests today's Gold move (and stock move) had a lot to do with each other - no matter how much they are blamed on cliff schizophrenia...
S&P in ounces of gold - unch for the month now thanks to today... equities were bid up into the election (outperforming Gold by over 4% in the first few days), gave it all back and then some as Obama's election was announced - to underperform by over 4%; the last few days of silence from DC and today's snap managed bring the two Fed-sensitive markets back together again...
as they recoupled this morning...
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Pretty clear from today's turnaround based on nothing but hot air that when the photo op for the deal is done in a week or so that the markets will be off to the races. Greece is fixed, Santa is coming and consumers can spend like there is a tomorrow sans cliff....
fuck this shit market!!!!
Keep in mind we don't have save-and-consumers, we have BORROW-AND-CONSUMERS. Big difference.
<----- SAVE - AND - GOLD
13000 Dow Rally Cap on! C'mon, Mr. Centrally Planned Market...I think you can, I think you can...(all the way back to 1999)
[We'll not discuss the Naz - that's a sore subject]
Fractional Reserve Bankster's Paradise
by Benny & The Inkjets
[Chorus]
All I know is that I was pretty happy to get the discount today. Bought 2 more oz. Then I tripped while I was walking over a bridge on the way home, and dropped it in a river, never to be seen again. I have the worst luck!
People should put their firearms and precious metals in waterproof, floating bags when on their routine, weekly boating excursions, but that does raise a set of practical difficulties all onto itself, to be fair.
My cousin, Omar, told me he started reading Zero Hedge a few months ago (congrats Omar) and has come up with a brilliant plan. Brilliant he says.
He has been following the comments section and realized that so many people have lost their precious metals in boating/canoeing accidents that he just bought some Scuba gear and an underwater metal detector and won’t tell me until he gets to the hot spot to seek out the lost treasures at the bottoms of lakes and rivers.
Omar called about an hour ago and said he’s in….…..Tippecanoe County in Indiana and is convinced that he will be wealthy.
I said Omar Fahking Ghosh (that’s his name you know) don’t you realize that Indiana is huge and has soo many lakes and rivers you’ll never find these lost treasures and besides how do know it’s all there in Indiana?
He said Ali don’t be so stupid, why would they call it Tippecanoe if that wasn’t what was happening.
Good Luck to you Omar.
Please tell Omar, if he finds some gold, it's mine. I lost it in a canoe accident some years back. I can identify it ,too. It's yellow, shiny, and stores wealth really well.
ALso tell him I'll split the postage with him when he mails it back to me. I have forever stamps.
Tell Omar to refrain from poaching my rightfully poached, lost treasure.
Poor Omar. He's a sad combination of very motivated yet hopelessly naive.
more like rapers and sheepers
selling gold to buy shit = inverted alchemy
http://www.kitco.com/reports/KitcoNews20121128JW_pm.html
Another kind of inverse alchemy is selling gold to buy lead (and certain additional amounts of brass and cordite).
....how do you really feel?
@"fuck this shit market!!!!"
It's not a market any longer . And Gold/Silver were sold down (Naked Short papar) by the Bullion Banks, most notably JPM, at the COMEX open in a coordinated dump to discourage longs from standing for delivery ahead Fridays First Notice Day (FND) for taking delivery. Done on a Wednesday so that the OIT, which runs weekly through Tuesdays, can be adjusted before it is published again next Tuesday.
Exactly.
The only way that the S&P and gold are coupled is that the same people are behind one of the being manipulated up as much as possible and the other being manipulated down as much as possible.
An oldie but a goodie...
I've noticed a strange situation
The spot gold and DOW correlation
It's easy to see
The Powers That Be
Have ordered this manipulation
looks like they're in dow 13k or bust mode this afternoon.
You got that right. A guy on BNN this morning was pointing out that there was a gigantic batch of gold put options purchased yesterday and needless to say, although he was disgusted with the manipulation, he tried with all his might not to call it that. You know... political correctness and all. But he was steamed at the banks, big time. Here's that interview:
http://watch.bnn.ca/commodities-report/october-2008/commodities-october-...
Well, it's pretty obvious the stock market only pumps straight up after it starts to tank RIGHT ON THE HOUR, usually 10am. I also notice a lot of pumps at 11am and 1pm. Totally a pattern there.
Coupled? Are you crazy? Gold is manipulated, as is silver. Don't try to explain its movements using any rational basis. Wake up!
The manipulation has recoupled - perhaps?
no manipulation in currencies....no siree
I know! The Euro floats all on its own because...
because...
well, because it just may be the finest currency in the world!
The euro is a like a " widget"... In demand ,so long as there is demand. When demand wanes, bills have to be paid...
How those bills get paid is really scary! History is replete with similar scenarios... They are usually BLOODY!
Human life loses it's value very quickly, when wealth is at stake... past Roman & Persian empires exemplify that set of "human traits"...
Q eeeee D
http://www.youtube.com/watch?v=ahOKfuX13go&feature=fvsr
Coupled? Are you crazy? Paper Gold is manipulated, as is paper silver. Don't try to explain its movements using any rational basis. Wake up!
There - I fixed it for you!
Not manipulated at all. No sir, not one little tiny bit.
(spits)
Inflation will continue to rise with central banker printing
http://goo.gl/boeih
those in power, and der childrens, will do everything they can to maintain control. They will lose, and as this reality becomes real, they will prepare to escape, while at the same time, keeping a damper on the fire.
Nah, at the first sign of danger, they'll blow up the whole place to distract us.
It's all about Boner's comments..........wake up, bitch!
Which would you rather have in five years? An equal amount of today's money in the S&P 500 or the same amount in physical gold?
Perspective, bitchez!
Why is it that on a site that attracts goldbugs this question even needs to be speculated on? Check the CME options expiry calendar. Gold and silver raids ALWAYS take place 24-36 hours on either side of options expiry. What other asset can you name that goes down when fundamentals scream it should be higher? What other asset goes down vertically? Why even ask this question?
Because we are just not as smart as you are, obviously. Duh.
Still shiny.
Buzz, is this not the ''Moral HaZZard Top'' reality of the Whore of Babylon riding the Beast, the rehypothicated algo quant want of the short term gains which define(s) the offer(s) of temptation and thereby the slaughter of labor within the borderless Great Wal Mart of China and the Suicide Vampire Squid? http://www.youtube.com/watch?v=qJr8PuZ20Ck
Cremation of Care ...bitchez. Just shoot a baby why don't yuh, stomp on Grandma's neck until her brains squeeze out of her skull.
Page clicks? :\
I agree Buzzworthy.
Sometimes I think the Tyler(s) have been hijacked.
To not mention this is side steping the real issue.
constant influx of new readers to educate?
HILSENRATH ALERT ON WSJ....
LMFAO, incredible. Jesus Christ, when does Bagdad Bob jump in and declare things are wonderful?
They had Buffet on NPR yesterday afternoon. His bullish on the economy crap was embarassing. There was a supposed to be continuation of it today. It's a PR campaign.
Well, he can really relate to the commoners since he's 'one of them' at heart. With that folksy hay-seed speaking style and 'aw shucks' mannerism, who wouldn't believe his outright bullshit?
Rumor has it that he was abandoned as a newborn on a Harlem stoop, in the freezing winter of 1965, and raised by a poor but generous black family, just like Nathan Johnson.
Well . . he is a jerk.
I saw that. Did you want to ring that dried saggy old chicken neck? You ant to pay more in taxes? Write a friggin check. What a douche.
California Beach Pundit had an OUTSTANDING market call on this at Seeking Alpha yesterday. "the mind races with possibilities"
No offense but that article was retarded. Gold went down one day after he made that call so if you want to give that guy credit, feel free. But his reasoning that gold will go down is....
"if the Fed were to even suggest that it is contemplating a reversal of its quantitative easing (which could be accomplished by raising the rate it pays on reserves, or by draining reserves), then gold would be quite vulnerable to losses. Gold today is a very expensive inflation hedge."
Last I check Ben was about to double down on QEinfinity.
And, aren't the ranks of those who could actually believe that the Fed could stop indulging in QE miniscule by this point?
Or to put it another way, the bears and the gold bugs all got rinsed together.
Not quite... Discount time, bitchez!
Wednesday's the stackers' Black Friday.
Thanks Tyler. I sure as fuck, am perplexed over that one. Risk F/X laughed it off to. The aud/usd went parabolic,and has been pumping for 5-6 hours! Oil didn't ramp either.
Must be the the bond market/ NOPE! T-10 down 2.4 basis points.
Occams Razor Yen. That's about it.
These markets are like watching a bunch of thugs fighting over a pair of last years Air Jordans... You can even go to the mall with out being "ass raped"!
My N.Y. morning trade was small Fonz. I wanted to add to the short, as I saw a topping pattern in risk!
I'll just let it retrace and cut my losses. This exemplifies my earlier comment.
You have to monitor your trades 24-7 on a platform, or you will be taken to the wood shed!
I have no idea how you guys do it. I would lose my ass in an instant.
Something... something... pennies... something... something... bulldozer.
If you don't hold it, you don't own it.
Meanwhile, the "I'll never get Corzined crowd" continues to breathe life into the scam of a market.
how nice of boner to be positive right as spx touches the 200day. seriously, they dont even try to hide they are now slaves to the markets. pretty sad...........actually, really, really horrifying what this country has become.
this artickle skips over the 1000 times gold has been down at 8.10 each day and trys to correlelate it to his shit for brains
I am shocked, shocked to find out that manipulation is going on in here.
http://www.youtube.com/watch?v=SjbPi00k_ME
Right, and where is all the convential 'wisdom' all year long that said it was all just desperation pumping until the election? Its still here...and looks like they're just ramping it up.
According to the incredibly smart people on CNBC, one seller decided to take profits which is the reason for the fall. I believe everything said on CNBC, they're all so smart, how does one become as smart as them?
ZH's speculation about a hedge fund unwind was unbecoming. From CNBC, fine, you expect that kind of drivel. But no professional investor should be so imbecilic as to put a fishing line on a chart.
In roman times, they sometimes believed that special wisdom was to be derived from analyzing the patterns on the ground of the entrails of slaughtered animals.
The on air personnel at CNBC have eliminated the messy slaughtering and the unreliable animals. They all have their heads up their asses so as to examine their own innards, purporting to derive market wisdom from these cranial colonoscopies.
Yea baby, ALGO's create liquidity, like jizz in a sperm bank!
The intraday performance of NASDAQ bubble stocks through the run of the last two weeks has been incredible, up and to the right from 10:30 every morning. The manipulators appear to prefer vapor stocks like AMZN and CRM as their 'monetary transmission mechanism' and evey front-runner has got the message
Absolutely NO reason why Gold shouldn't have crushed it's inflation adjusted high of $2300 years ago from all the Central Banking folly. Manipulation is the only conclusion a sane person can draw.
So gold must go up because central banks can manipulate the price of everything ... including gold. Weird logic.
They can only keep it down for so long. Don't forget Gold is on a 11 year bull run. Eventually the day of reckoning will come.
Gibson's paradox and the implementation of procedure to ensure that gold price stays low to forestall dollar inflation....that is all this is....just ask Larry Summers...
Okay, man...
I see what you did there...
Is this not the easiest explanation? Turkey was going to pay Iran in gold for nat gas exports. But the cartel got angry because they were left out of their fair share and therefore, the US threatened to sanction Turkey if they did. Someone had been accumulating gold for that purpose and somebody knew that, as it would no longer be required, it would have to fall and frontran the move.
Another variation of the theory is that Iran received that gold, had to fire sell it and was frontrun....
Did we not see the same when Khadafy had to sell his?
Don't forget that the Chinese also just bought a few metric tonnes of the stuff, too. We're starting to get the picture now.
I hope you are, anyway...
The problem with your explanation and all the other rational explanations is this...there is only one reason to sell 2 million ounces in 5 minutes and that is to intentionally drive the price lower.
The American casino mentality at work. Why so shocked? Everything is a casino now...powerball, markets, bonds, metals...choose your game, lay down ur bet!
Markets are not a casino, as they are filled with games of chance.
The phrase you're looking for is "Three Card Monte."
In an alley.
Dimly lit.
With lots of unsavory people gathered around.
And if you are playing in Paris, they won't even let you pick the right card if you can catch on to their gimmick. (saw a co-worker try this once).
On the unwind of the long gold/short yen move...is the appreciation of the yen so significant to have caused the sell off in gold? Not sure...Or was someone trying to cause it by selling the gold? :)
TBTB know that as long as there is no alternatve to UST's and equities they can borrow as much as they want and devalue the USD as much as they want. BUT, if an alternative were to become viable, like gold, then money would flood out of these over valued and over rated (AAA really ?)assets. I'm thinking that if inspite of this Central Bank manipulation gold continues to hold its own with the S&P then the CBs are losing their grip.
Dow is currently at 12976 (w/ 14 minutes to close)- If all things remain in Ben's hands, as they always do, that would mean the Dow close should be 13K, give or take a point. What a frikkin sham joke!!
Also a whole year of 'It's all for the elections, after then, there will be reality re-entering' to explain all BS data and manipulation was all just garbage....they'll do whatever they want whenever they want until the next planned flase flag terrorist attack reshuffles the deck again.
Someone has to..."Gold Bitchez!"
p.s. Gold becomes a tier one asset 01Jan2013. This means that it can be counted, as an asset on books, like cash and T bonds, at 100%, NOT 50%, as previously. If the banks "rule the fuckin' world" then gold doubles in value as an asset starting 01 Jan. Think about what I'm sayin' here. NOT surprised to see $1680s prior. BTFDs.
p.p.s Anyone with more info/intimate knowledge on this tier one gold holdings development, please feel free to elaborate.
You did it all wrong. -1
Nope. Still love the shiney, just thinkin' this drop's quite logical, maybe even more prior to 1 Jan, If you get smoked prior to the first of the year, it's your own fault IMO. Get physical, and carefree, or get short with stops, if you are ballsy, or crazy. This too will pass(the drop).
no no, I mean you did this wrong:
Gold, bitchez!
The point being, not to complicate a simple, elegant, beautiful thing.
Dunno, "gold bitchez" might not be so bad.
Corrected, Bitchez?
+1 to you for being a sport.
Ytd S&P is up 12.5%, gold up 9.7% (dividends not included) ... Nasdaq is up 17.1%. Five weeks to go. US$ and euro are still alive. Obama is still president. Banks still rule the world. Facts, sometimes, stand in the way of a good story, as good as the story may be and as idiotic as the facts may seem.
Or, how dumb the story is. If this was a novel I would have thrown it away long ago.
the 'divdend' of gold (physical) is that if you have it in your possession then you will still have something when paper wealth goes wobbly...
So in other words its all totaly meaningless and owned totaly by the FED, including gold....so really no point in paying any attention to any of it at all....where they want everything is where they'll put it, and you're just along for a back seat ride no matter what you do.
I have no doubt they will fumble it Sheep. It's just a matter of time.
Year to date, the algos and PPT have been swapping assets with each other at the speed of collocated fiber optics.
Those Algos are run by the big banks and governments, and they want your money.
In the words of WOPR itself "Strange game. The only winning move is not to play."
Well then if thats whats going on, at least I can feel some #WINNING since they're definitely not getting MY moneez at least.
If gold keeps getting plowed like this on dollar weakness, I'm heading back, later this week, for a few more rolls of Maple Leafs!
It's kind of a "Fuck YOU" central bankers, Carney [Squid Face], BoE indoctrination/hazing!!!
BoC > (commodity based central bank head) , moves to ultra dovish> BoE? No laughs? Me neither...
http://www.dailyfinance.com/2012/07/20/stockbroker-corrupt-wall-street-c...
When priced in euro, the currency of the largest market on earth, gold's beating is ever worse today. But then again, why would you need gold when debt is wealth?
Blankfein, CEO of Morgan Jamie Dimon and Buffet have all talked to Obi Wan Printomi.
Mitt is going to WH tomorrow.
The conversation goes like this " FORWARD !".
What is going to happen to this market when all those companies paying special dividends go ex-div? Isn't the future growth rate of dividends naturally lower once all that money is paid out before the end of the year?
From Jim Sinclair's Mail Box today: (You really should click on the link to see the charts):
http://www.jsmineset.com/2012/11/28/in-the-news-13/
"...Richard outdoes himself in this report. Now they are calling it a roll over that was executed not as a spread but as an outright sale. That was such a bold manipulation that even they have to come up with an excuse.
Richard is right. That is what is called “an operation.”
Those watching the precious metals markets (this excludes the CFTC) are well aware of yesterday’s options expiry for Gold and Silver on the COMEX, and the Friday “first day notice” just ahead…and some violent ‘games’ by the Cartel in the paper markets were duly expected.
This morning Blythe apparently unleashed her heavily-caffeinated flying monkeys to ‘game’ the markets. Completely incredible paper volume in view of existing physical supply. In seconds. Good morning!
Oh, did I say ‘physical?’
– Yesterday’s Manfra ‘force majeure’ excuse (one of COMEX’s five bullion stores) for non-delivery of physical bullion should (in a regulated, unmanipulated market) have sent the spot price of Gold several hundred dollars higher, but it looks like the Banksters have discovered Bennie’s secret CTRL+P trick of creating binary electronic digits out of thin air…beats mining with a pick and shovel, eh?
These are no longer markets as price-discovery vehicles, but more resemble playing naked-twister with sociopaths and crooks.
– The MF Global and LIeBOR frauds were just a small ‘taste’ of what’s coming when it is discovered that the paper masters of the universe have hypothecated and rehypothecated physical bullion (both private and sovereign) many times over. [For CFTC regulators read: it's long gone and many are not going to get it back, ever.]..."
Getting sick of wrong being right.