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Shutdown Euphoria Rotates To Safety Of Bonds And Bullion
Bonds were well bid into the US open this morning and stocks had given up all their 'shutdown' gains and slid further on the ADP news which had nothing to further the case for taper or no taper. The big turnaround happened when rumors circulated of a 'deal' - which were later denied - but by then the momentum had caught on. Luckily the rumor coincided with POMO and we lifted a majestic 7 S&P points into the European close. Treasuries initially ignored the rise but gave in after a while with yields rising but stocks remaining notably disconnected from bonds by the close. The late-day collapse in VIX yesterday evaporated was smashed higher, divergent from stocks in the afternoon until another pathetic ramp into the close which lifted the S&P to its day-session highs but closed down for the 8th of the last 10 days. Gold and Silver blew higher on the day recovering all yesterday's losses.
Stocks once again bounce away from bonds...
Gold and silver retrace all yesterday's losses...
The Nasdaq outperforms again but the Dow ends the day unchanged from pre-Shutdown - giving all the gains back...
FX markets were driven by EUR strength as Draghi came up short on his jawboning...
VIX notably diverged this afternoon as stocks ramped...
Charts: Bloomberg
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Silver & gold blew higher and miners got sent to the toilet.
miners got hammered again? wow.
Harry Reid on the shutdown and children with cancer
10 second clip
http://www.youtube.com/embed/O0lFyFJeZSY?start=82&end=93
Like I said yesterday, they want it to be an all-or-nothing deal. If you want the NIH to help children with cancer, you have to accept the Obamacare ass raping.
I'm no fan of the pubs, but Democrats are "holding the country hostage" every bit as much as Republicans. Harry stepped in it with that quote.
Seniors without scooters and eating canned dog food will be next, then Veterans without crutches, then left-handed lactose intolerant babies without Enfamil, then...
Yep. Pathetic attempt at a selloff in stawks. Everyone is just getting ready for takeoff. The action in the miners, to me anyway, just seems to not bode too well for the metals.
You are exactly right Fonz. No ramp has been allowed to survive under the total asset control of the Fed's banksters. Think of gold in the same way you'd consider bitcoin on steroids. Gold is a monster threat to the deception they've created. It must be harnessed and controlled by killing demand.
These guys are geniouses. How are low prices supposed to kill demand?
Miners lead the way to the toliet, and gold takes a dump!! ROFL.
No they didn't, mine are all up, not as much as they should be but all up.
Which miners are you holding? Just curious
why is it that Gold is only considered "safe" when shit is about to hit the propellers?
tradition.. for when really bad things happen..
I forget who said that.
I am so sick of this blatant manipulation...every day it is the same shit. When will this just implode?
Re: blatant manipulation
It probably will implode when there actually is "blatant manipulation".
If all the "markets" of the world "act" the same way:
disasterous news -> stocks up (see greece)
more debt -> good news -> gold down
Then, there's other forces at work other than "blatant manipulation" (unless EVERY market in the ENTIRE world is manipulated for the last decade).
But, there is one thing that all financial markets do have in common - world wide - and have always had, at all times throughout history.
"It probably will implode when there actually is "blatant manipulation". If all the "markets" of the world "act" the same way"
That's the dumbest fucking reasoning I've heard since Obama's Peace Prize nomination. Either you are willfully ignorant about the Plunge Protection Team or you are an NSA flunkie troll hoping to please your banker masters by doing a little volunteer work. Either way your bullshit doesn't square with reality...
Not yet please, I'm still buying!
The algo's are having a field day with all this human drama, rotating in and out of sectors.
Buy and hold crowd with their "retirement" trapped in IRA's and 401K's providing liquidity for HFT gaming robots.
A secret signal I heard...it was Skynet...and it said: "More drama and uncertainty please, and make sure it is broadcast."
We should leave DC shutdown instead of all of us seceding from the union. Leaving DC shutdown is a nice solution to a lot of problems.
Re: Leaving DC shutdown is a nice solution to a lot of problems.
Worthless Big-Gov workers accounting for 4% of the Big-Gov budget isn't a shutdown. Talk to me about a shutdown when the top 10-20% are cut off from the loot flowing to them through Big-Ag, Big-MIC, Big-Road, Big-Water, Big-Airport, Big-Energy, Big-Ed, Big-House, Big-Fin, Big-OldFart, Big-OldFartHealthcare, Big-AntiDrug, & Big-PoliceState.
Safe Haven? WTF? The only safe haven is in your bunker with your AK eating your gold bullion soup.
Stray cat bullion soup, the Gold is for buying cats and salt.
wow, I honestly thought .9999 fine feline was just a polite way of saying madmax pussy.
Crashing BitCoin Brings New Gold Buyers Today
We are not surprised: FED does not tolerate any competition to its Ponzi scheme with FIAT money. As with all the games with Gold your faith in any FIAT alternative will be manipulated all the time. The key and crucial difference with Gold - you can stay Off The Grid and it is the Real Money recognised by everybody for thousand of years. The fatal flaw of BitCoin as the alternative to The System is that it is part of The Grid which is totally controlled by NSA. Realisation of this crucial factor will bring new buyers into the Gold and Silver markets. http://sufiy.blogspot.co.uk/2013/10/crashing-bitcoin-brings-new-gold-buyers.html#
Gold Smashed Down In Desperation As COMEX Inventory Remains Thin GLD, GDX, MUX, TNR.v
"Now we have the report from Jesse which shows us the reason for the recent run on the Gold. Game of the musical chairs is unfolding in front of our eyes, there is no Gold left for deliveries as China is taking everything availible from the system now. The very existence of Gold bullion banks fractional reserve system is under question now."
Gold recovered from yesterday's blatant manipulation after the USD went into the toilet and Fitch hinted at a downgrade again.
GLD and Comex futures buying don't represent a rotation into bullion - that's donations by rubes (probably lots of them in suits using OPM) to the douchebags at the bullion banks and the BIS who run the 3-card monte game that is the paper gold 'market'.
I count a net loss of $10/oz gold over the past 24 hours.
Strange, I count the same weight as I had before. What are your ounces made of?