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Gold, Silver Outperform Stocks In Jittery Third Quarter
As headline after headline hit today, US equity markets jumped and dumped as the early POMO ramp faded in an oh-so-familiar manner. As the day-session opened, "most shorted" stocks tumbled hard (-1.6% vs the market -1%) and that provided the ammo for the ramp as POMO and PMI hit. That rally stopped on time as EU closed and POMO ended and then Washington took over. FX and commodity markets were volatile early on a settled late as a EUR surge early on (on Italian political news) smashed the USD lower and sparked some risk on. The USD spent the rest of the recovering back to unchanged. Commodities ended the day cuffed at -0.5% in an oddly cozy way given the early rips and dips in Gold and Silver. The S&P has fallen 3.5% from its all-time un-taper highs, is closing right at its 50DMA, and underperformed gold and silver for the quarter.
It seems that MSFT was responsible for a large part of that last-minute ramp.
The day in headlines...
Early shorts were Heisenberg'd through POMO...
The USD was hammered early as rumors of a splinter group from Berlusconi's party hit but spent the rest of the day rallying back to unch...
The USD moves did impact commodities but Bank of France rumors and a seeming need to recouple by the end of the day were the biggest drivers...
Gold and Silver handily outperformed US equities on the quarter...
and just to highlight the craziness of the late day ramp in stocks - here is the behavior of the rest of the risk assets... it seems JPY carry was the driver...
Charts: Bloomberg
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Ha ha (paperbugs)
Charade you are
The Careless Whisper News Update & Threadjacking
Two Jump From Roof Of GoldmanSachs Manhattan Headquarters - Both Had Parachuts
http://www.dnainfo.com/new-york/20130930/financial-district/police-looki...
Two Jump From Roof Of GoldmanSachs Manhattan Headquarters
Dang I was hoping it was bankers.
Maybe it was "bankers". It happened at 3 a.m., so maybe they were seeking thrills, or competing in a dare.
Who really gives a shit what the price of gold/silver does day to day? If you think PM's are insulated somehow from the master manipulation of all aspects of the economy and the other asset classes, then you are truly lost. TPTB let the prices go up, and they let the prices go down just to give an appearance that things aren't manipulated. It's pretty disappointing to see that even ZH keeps placing some meaning to the zig-zagging prices of gold. The price of gold only matters when the system finally implodes.
barbarous relics.
Weekend at Bernies farce market!
ANd bernie was dead,too.
Mind Boggling
US Gov shutting down and VIX moves just %7.25
Mind Boggling
Everyone knows it's just theater. Nothing to see here, move along.
If we can keep up appearances Bernie is alive a bit longer, we can get another free coke and hooker Hamptons party tonite!
What a shit show. I can't even hardly watch this anymore forget about trying to out game the algo's.
Breaking news NASDAq up 11% for the Q. Must be the faller of recovery.
the douchebag is speaking at 445.
i know there are many douchebags on wall st/ washington, so ill specifiy, this douchebag is obama.
On Marklar, everyone and everything is marklar.
Keep stacking, homies. The mass markets are fucked.
..and they tried SO HARD to stop this from happening. Anything to keep people from putting money into precious metals and having them continue to outperform their bubbling garbage.
Much like trying to stop a wet fart. You know it's gonna make a mess, but you can only squeeze your cheeks so hard and so long before the inevitable colon blow takes place.
Hah!
Thwe govt shutting down, even if it's just until Friday, will be good for the economy. If you don't get your govt check maybe you'll get off your ass and earn some money. Don't worry Mr. Banker, you will still get an electronic money transfer from the Fed.
still a long way back to 1600. who bought at 1800?
looks like everybody has forgotten what happened in april. lol
April smackdown was a Godsend. I begun buying at $1900 and now I'm on my lowest cost average EVER. Which is pretty close to current price btw.
HEADLINE: Bullshit Blah Blah Horseshit..... Here's some real news: Since Jan. 2000 Gold UP 372%; Silver UP 320%; Dow UP 32%. Keep playing games, boys, the big one is coming.
Headlines I'd like to see: MARKET CRASH, BANKERS LEAP FROM TALL BUILDINGS...without a parachute
Darn, and just as the economy was was on the verge of sustainable growth, this happens.
btfd.
So it wasn't Zerohedge commentators who were telling us (when Gold reached $1800/ounce and Silver reached $49/ounce two or three years ago) that "The Sky's the Limit"? So anyone here invest heavily then--particularly highly leveraged paper instruments to maximize their profits?
It's going back to 1800 anyway. Buy the big dips to average into your position. If you routinely and continiously put money into precious metals the past few years you're in damn good shape right now and set for the future. If you took your life savings and put it all on gold at $1,900, you dont feel too good right now but you'll feel a lot better than most people in a few years.
The sky is the limit, but it won't be reached as long as we measure prices in dollars. Silver is the most suppressed commodity for a reason. Sound money is a real and present danger to debt based monopoly money. Silver more so than gold because it suffices for day to day size transactions for the common folk.
Once the current paradigm bankrupts itself metals will regain the buying power that has been stolen from them for the purpose of herding people into fiat currency as a more attractive option, but don't expect that to happen as long as the Fed can print money out of thin air.
For now, we still have the option to buy at firesale prices.
I bought metals long before I stumbled upon ZH, and will continue regardless of what they post. Anybody investing based on headlines deserves to be fleeced. Anybody investing in paper instruments deserves to be fleeced.
"Gold, Silver Outperform Stocks In Jittery Third Quarter"
My God, stocks must have really sucked!!!!!