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IBM -4.5% Pre-Market; Dow Futures Sliding
UPDATE: Boeing cuts 747 production 12.5% on lower demand (BA -0.5%, Dow futures slide 25 points)
Thanks in large part to G-20 comments, JPY has resumed its devaluation path and dragged risk-assets higher with it as S&P futures are up 8 points. However, this 'artificial' exuberance appears to hide the simple reality of individual stocks as IBM is trading down 4.5% in the pre-market and for now Dow futures are down around 40 points from the cash close.
Dow Futures bounced back from IBM losses but are sliding now...
as IBM remains -4.5%
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FUD!
The big story I'm following that seems to be quietly transpiring behind the scenes is that of JP Morgan's COMEX registered gold depletion. The depletion rate has accelerating tremendously since the price crash, and at the current rate of depletion they will have no registered gold left IN LESS THAN TWO WEEKS!
Specifically, JP Morgans supply of COMEX registered gold has declined by 36% since last Thursday, from 1.34 million ounces to 0.86 million. They obviously do not have much, if any, gold available for delivery, whether it is because the gold is already gone or they simply are not willing to part with what's left. What's going to happen if/when it's all gone is anyone's guess, but no gold available for delivery at COMEX seems like pretty big news to me.
http://www.cmegroup.com/trading/energy/nymex-delivery-notices.html
This is after the largest ever quarterly physical gold outflows on the COMEX in Q1 2013, since they started keeping track in 2001.
http://bullmarketthinking.com/comex-gold-inventories-collapse-by-largest...
Force majeure coming soon.
Don't worry...Watson will know what to do.
Bernake, the provebial Dutch boy with his finger in the Dam, is running out of fingers. Reality is a bitch and it is about to slap back.
Hmmmm, I wonder what that means? Is it Friday already? Where did the week go? I burned through a whole week buying silver...I need a life. I think I'll just have a BBQ this week and reload some more ammo. Times are hard.
BTW, it's time to go free the fuck out of Chechnya. We're gonna free them so bad!
"Free them with extreme prejudice."
This message brought to you by Craft International, where Violence Solves Problems ™
Europe and Asia both green there is no way the US markets close red today.
DAX in red, 0.02%
That is green-like to the pumpers. And it's Friday after a bad news week...green shoots, spring of recovery, forget about the bombings and dronings because stock markets go up only.
E-STOXX still up, 0.75%. All will be well.
DAX now in green. Surfuckingprise!
Crap! I actually thought it would be different this time. Damn you, poor earnings!
Don't you worry, folks. Heading into the weekend, the PPT will shirley get to work quite in time and push it all up into the green with some bazillion bernankebucks, right?
Buy stawks for the long run, they are a great investment in executive lifestyles.
This is what happens to IBM, al la "Roadkill to 2015". When you give a $270 million dollar kiss to out-going Palmisano, and a massive share buyback spree, it eventually catches up in this mark-to-myth economy. Throw in the FACT that engineers are outsourcing exclusively to Slovakia, while the long-time work force of American engineers are laid to waste as part of their new "vision".
Having worked for IBM, they suck the life out of the ordinary worker only to cast the spent carcass aside and hire one in India or another third world country.
Go google their history on WWII. Fuck IBM!
My Spouse is a lifer, as is her manager (who went out on medical due to stress). Every quarter we wait for the hammer to drop. Ironic too, as the manager lives in area with high profile types that tell him they won't touch anything IBM.
During the Boston Bombing hullabaloo, guess what our fine Clowngress passed while attention was diverted? CISPA legalized total spying on you, and Stock Act which allows them unfettered worry-less insider trading....made what they totaly denied legal!
Must....BounceBack.....Must pump...futures....
IBM is a relec. It's time for the future to take over the Dow. FB, FFN, AMZN should be the only ones that make up the Dow.
That's what I thought, GOLD over 1400? Morning shock for Goldman Sucks. Panic in the office, take it down
Immediately! 22$ drop from the top as easy as that. Crimex at work. Ohh Look at this, Below 1400
in split seconds..
I thought Boeing had a several year backlog if plane orders. Why would they be cutting production? Are they seeing orders cancelled or is it a parts or material issue?
Well, I guess Planes have to fly at least, to have an orders otherwise
it's like flying with the bomb on board.
Man, Trav said people were overblowing the battery thing.
http://www.zerohedge.com/news/2013-01-16/dream-over-faa-grounds-nightmar...
good day to pull the plug.
Mis-direction Accomplished.