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Stocks Rip; Bonds & Bullion Dip On "Bad News Is Great News" USDJPY Lift

Tyler Durden's picture


"Not beating expectations" is the new "killing it" if today's markets are any judge. First, Facebook is up 19% ($150bn market cap). Gold and silver are being monkey-hammered in their new normal "I don't always sell gold, but when I do, I do it all at once in massive size) manner. Bond yields are pressing 3-4bps higher. The USD is surging (as JPY and EUR weakness trumps AUD strength) and that should provide the hint as to what is levitating stocks... JPY carry correlation remains extreme as the USDJPY bounce off 102 holds for now (and NKY is catching up).


Spot The Difference...


The S&P futures have levitated back to Tuesday's closing VWAP...


Gold and silver are slammed as Oil surges...


Nope no over-reaction here...


Nikkei is catching up to USDJPY...


Charts: Bloomberg


Bonus Chart: Thursday Humor...



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Thu, 01/30/2014 - 10:17 | 4383834 Sudden Debt
Sudden Debt's picture

It's just sickening...


Thu, 01/30/2014 - 10:26 | 4383882 gjp
gjp's picture

Sell emerging markets!  Sell precious metals!  Buy Facebook!

Fuck Wall Street

Thu, 01/30/2014 - 10:39 | 4383928 DeadFred
DeadFred's picture

There was never any real chance that the collapse would come straight after making new all time highs. They will get at least one small rally. Sit back and wait for it to top out. Will it take out the previous highs? If not then you get your hopes up.

Thu, 01/30/2014 - 11:01 | 4384001 Lewshine
Lewshine's picture


I beg to differ, every rally will be sold  - Smart money knows if they can't get 30 to 50% returns, the risk is better in cash @ minus 3%.

Pigs get slaughtered.

Thu, 01/30/2014 - 11:48 | 4384165 malikai
Thu, 01/30/2014 - 11:23 | 4384091 Greenskeeper_Carl
Greenskeeper_Carl's picture

don't forget twitter. I gots to have me some of that twitter!

Thu, 01/30/2014 - 13:45 | 4384498 TheRideNeverEnds
TheRideNeverEnds's picture

make sure you hedge your Facebook long deltas with some long Tesla and Pandora.

Thu, 01/30/2014 - 10:28 | 4383883 Max Damage
Max Damage's picture

FB - 150bill
Amazon - 176 bill
Twitter - 50 bill inc all options
Yelp - 5bill
Netflix - 24 billion
Solar city - 6 bill
Tesla - 22 billion

430 billion just on those 7 companies, and only 2 of them make any money, and even those 2 make peanuts

Thu, 01/30/2014 - 10:30 | 4383893 Sudden Debt
Sudden Debt's picture

yeah... FB's P/E should pass right over 150 today...

Thu, 01/30/2014 - 10:45 | 4383943 unrulian
unrulian's picture

PMs : What comes after monkey hammered? Perhaps Donkey hammered?

Thu, 01/30/2014 - 10:46 | 4383947 yogibear
yogibear's picture

During the DOT COM days  there were loads of companies with no earnings.

Feels like the DOT COM days again except now it's social media.

Cooking of the books will fix everything nowadays.

Thu, 01/30/2014 - 10:27 | 4383886 WarriorClass
WarriorClass's picture

"I don't always sell gold, but when I do, I do it all at once in massive size... even if I don't really have any."

Thu, 01/30/2014 - 10:51 | 4383969 Boozer
Boozer's picture

@WarriorClass - Our very own BuckarooBanzai coined that snarky line some time ago

after a 3am, 200k ounce nanosec sale.  I remember it well as beer shot out of

my nose.  Seems to have caught on.

Thu, 01/30/2014 - 11:18 | 4384062 Race Car Driver
Race Car Driver's picture

> It's just sickening...

... day after day, after day, after day ....

How much longer can this shit go on? What's it gonna take?

It's no wonder there's no news about the good guys catching the bad guys ... there are no good guys left.

Thu, 01/30/2014 - 12:06 | 4384206 The_Ungrateful_Yid
The_Ungrateful_Yid's picture

When the ponzi scheme unravels. Until then enjoy the shit show. I am.

Thu, 01/30/2014 - 12:02 | 4384193 caShOnlY
caShOnlY's picture

it's just normal.....

Thu, 01/30/2014 - 10:17 | 4383835 Bearwagon
Bearwagon's picture

STFR! I mean it!

Thu, 01/30/2014 - 10:20 | 4383837 Grande Tetons
Grande Tetons's picture

Great...the retardfest is back. Long USD/JPY.

Thu, 01/30/2014 - 10:22 | 4383850 idea_hamster
idea_hamster's picture

Quick -- everyone to this side of the canoe!  What could go wrong? 

Thu, 01/30/2014 - 10:25 | 4383869 Grande Tetons
Grande Tetons's picture

I watched a nature show the other night about Salmon. As we all know, they swim up stream and then die. The others get munched on by bears and eagles.  

Nature is fucking is fighting the trend in this market. 

Thu, 01/30/2014 - 10:28 | 4383884 jcaz
jcaz's picture

Yep-  dumbasses never get it-  it's NOT good when they rip up at the open like this,  but hey, go ahead and go all-in,  try to pick up another 10 pts on FB after it opens up 10, cause that's how it always happens, uh huh.......

Thu, 01/30/2014 - 10:21 | 4383841 Confundido
Confundido's picture

Folks, I've been saying it all along: Gold will not shine as long as the ECB debates whether or not to charge...CHARGE...(not pay) interest on its deposit account. And the signal that you should be looking for is the announcement of a central bank selling its gold reserves. That will mark the bottom, just like it did in 1999. This does not mean that we will see gold going below 1,180. Perhaps we do. But it can perfectly stay where it is for another year.

Thu, 01/30/2014 - 10:50 | 4383966 fockewulf190
fockewulf190's picture

Which EU central bank has gold to sell?

Thu, 01/30/2014 - 10:51 | 4383975 Kaiser Sousa
Kaiser Sousa's picture

most just cant see the end game is here....

"The major countries will no longer tolerate the monetary manipulation with the global currency in the same unilateral manner with which Nixon changed the Bretton Woods agreement back in 1971 by ending dollar convertibility to gold, rather than devaluing against it.

For lack of a better alternative or term, I settled on the SDR, made up of a new basket of currencies and commodities, almost certainly including gold, and quite possible silver, if China, Russia, et al. have their way.

Right now the nations are in the 'negotiation stage,' with the Anglo-American banking cartel putting up a strong resistance for any changes to their 'exorbitant privilege.'  I would not be surprised to see more forex and precious metal games played as the Lords of Finance flex their monetary muscles.

And then there is the question of the tangled web of rehypothecation of bullion without public disclosure.  It could prove to be very embarrassing to some.
But change is coming, one way or another."

Thu, 01/30/2014 - 11:18 | 4384064 Confundido
Confundido's picture

I did not say a central bank would sell nor that there are EU central banks with gold to sell. I said that it would be announced, that a central bank would sell. 

Thu, 01/30/2014 - 10:22 | 4383842 Diablo
Diablo's picture

But...but...what about the JPM vaults??? what about China/India/Tajikistan all lining up to buy gold???? What about all those sold out 1/25 ounce Falkland Islands gold coins???? 

BUAHAHAHA  all you sucker gold idiots got fooled once again!!!  This is just too easy!!!!

Thu, 01/30/2014 - 10:24 | 4383860 fooshorter
fooshorter's picture

And what bitcoin? Don't be so naive, when THEY want it down, it will be down. I'll keep stacking while you buy those wonderful paper assets the elite will gladly sell to you.

Thu, 01/30/2014 - 10:28 | 4383881 eclectic syncretist
eclectic syncretist's picture

They are providing a gift to anyone wise enough to recognize it and brave enough to act on it.

Thu, 01/30/2014 - 10:44 | 4383872 Kaiser Sousa
Kaiser Sousa's picture

yeah, we all got fooled...

just like the rest of the fools over the past 5000 years...

just like The Rothchilds and their Central Banks who r hoarding the shit while dispensing to you worthless peices of debt coupon currecny been fooled....

Yeah, you killing it in the Fraud Market im sure...

or maybe, you first in line for that killer MyRa...

you r definetely the man....

Silver at $18....thats so funny...

laughing all the way to my dealer later this morning...



Thu, 01/30/2014 - 11:34 | 4383991 TheGoldMyth
TheGoldMyth's picture

It is indeed "too easy.  Described as a "no brainer" in some circles, in particular, due to the ability of the 1% to print paper debt/leverage. "FOr thE fiRst tiMe in hiStoRy, tHe 1% OwN 99% oF THe gOld or in the process of  And so thus........the top 1% have defaulted into becoming the buyers of last resort (Physical or otherwise.) and without this gold buyer of last resort, the value of this medium of exchange would have collapsed to around 10 dollars an ounce in my reckoning of this crapola of botulistic proportion.

I present this angle often due to the emergence of this new factor that is hardly mentioned at this time by other emerging economic junior rangers like myself :-).

Thu, 01/30/2014 - 10:21 | 4383843 yogibear
yogibear's picture

The only way the Federal Reserve really stop printing is if the US dollar free-falls. It's only thing that would make the fed fearful.  

Thu, 01/30/2014 - 10:21 | 4383852 ghostzapper
ghostzapper's picture

Do you think they are literally "tapering" or jawboning a taper?  Of course the routine audits of the Fed will show us.  Ooops.  

Thu, 01/30/2014 - 10:21 | 4383844 ghostzapper
ghostzapper's picture

Facebook is worth $150 Billion and Bitcoin has a total market value of about $10 Billion.  hey every once in a while in life they throw you a gap that shows how much movement could easily take place if one considers the potential value of certain things.  Hmmmmm, wasting time and chit chatting about Bieber versus a platform for the world's new financial system I'll have to think about that one.    

Thu, 01/30/2014 - 10:54 | 4383983 lordylord
lordylord's picture

Facebook provides a lot of valuable info on its users to corporations and governments.  That's worth a lot. Bitcoin will catch up  when it starts to do the same and provide government with every transaction ever.  If not Bitcoin then it will be Bitcoin 2.0 (i.e. FEDcoin). 

Thu, 01/30/2014 - 11:11 | 4384028 ghostzapper
ghostzapper's picture

Nobody "has to" remain a FB member or join but I agree they do sling around the data on the peeps and there is some value there.  I don't see the stickiness though as people understand they are being whored out.  OMG LOL what will I do without Facebook?

On the other hand people do indeed have to transact in commerce and function in day to day life in some way, shape, or form using some type of currency and financial system.  If you can consider BTC in this sense and the total market value of gold (subject to the data spoonfed to you by TPTB) then BTC could make FB look like peanuts when the dust settles.  I do believe people will ultimately see that Gold/BTC is a marriage that makes sense.  they complement each other they are not enemies.  

Thu, 01/30/2014 - 11:23 | 4384089 lordylord
lordylord's picture

I would argue that the vast majority of FB users are too ignorant to know that their data is being sold.  But that is beside the point.  Yes, as of now BTC has value and that value could increase.  It could also go to zero pending the whims of governments. 

Thu, 01/30/2014 - 10:20 | 4383845 eclectic syncretist
eclectic syncretist's picture

Fuck me!   I'm starting to feel like I'm going to have to put out some (as always non-margined) short lines on NFLX and FB just to be able to sleep peacefully at night. 

Thu, 01/30/2014 - 10:24 | 4383847 Seasmoke
Seasmoke's picture

Why are we back to bad news, is good news. ..... thought that was only so QE could continue without Taper ...... I'm really getting close to stop following's a farce.....I will know when I wake up one day , that it has all collapsed..... doesn't look like I need to pay attention every hour of every day......I'm going to miss ZeroHedge, but it's obvious it's now a waste of time. 

Thu, 01/30/2014 - 10:50 | 4383965 John Bigboote
John Bigboote's picture

I'm right behind you. Fuck this.

Thu, 01/30/2014 - 11:00 | 4384000 negative rates
negative rates's picture

See ya both, don't want to be ya.

Thu, 01/30/2014 - 12:26 | 4384282 superflex
superflex's picture

Sayanara Bye Bye!

Thu, 01/30/2014 - 12:33 | 4384304 HardAssets
HardAssets's picture

Well, its tough to follow 'the markets' when there are no real markets.

Thu, 01/30/2014 - 12:40 | 4384324 fijisailor
fijisailor's picture

Ignorance is bliss

Thu, 01/30/2014 - 10:22 | 4383848 TeamDepends
TeamDepends's picture

So who are the chimps buying Facebook?  We demand answers!

Thu, 01/30/2014 - 11:39 | 4384135 syntaxterror
syntaxterror's picture

The same ones buying NFLX, AMZN, TWTR, and PCLN.

Thu, 01/30/2014 - 10:21 | 4383849 The_Ungrateful_Yid
The_Ungrateful_Yid's picture

WE had a 5% correction in the past week and a half...Yellen is signaling to all you fuckers to BTFD and get your money back into the markets.....expect this charade to continue all year.

Thu, 01/30/2014 - 10:52 | 4383974 Hulk
Hulk's picture

Remember, they have that little German repatriation Gold thing hanging over their head,  the vaults are empty and Asia is taking in physical as fast as swizerland can melt it down and deliver it. These are cornered animals and they are behaving like it...

Thu, 01/30/2014 - 10:22 | 4383851 Sudden Debt
Sudden Debt's picture

would it be wise to start shorting facebook?

Thu, 01/30/2014 - 10:30 | 4383890 eclectic syncretist
eclectic syncretist's picture

Never short on margin would be my only advice.

Thu, 01/30/2014 - 10:31 | 4383892 Bearwagon
Bearwagon's picture

According to all my bearish knowledge it would be - so, NO! It would not be advisable in todays "markets" ...

Thu, 01/30/2014 - 10:35 | 4383916 Sudden Debt
Sudden Debt's picture

and what about friday? :)

I'm waiting one day, maybe 2 and I'll short it for 500 bucks.

Gota at least try right?

I'll take a jan. 2015 put 50

Thu, 01/30/2014 - 10:21 | 4383853 blabam
blabam's picture

The invisible hand is OD'ing

Thu, 01/30/2014 - 10:21 | 4383857 starman
starman's picture

Here comes the bitch with the dick!

Thu, 01/30/2014 - 11:46 | 4384162 Race Car Driver
Race Car Driver's picture

I had her for homeroom in 3rd grade. Is she still teaching?

Thu, 01/30/2014 - 10:25 | 4383863 buzzsaw99
buzzsaw99's picture


Thu, 01/30/2014 - 10:26 | 4383871 the 300000000th...
the 300000000th percent's picture

So Wall St actually thinks Mr. Yellen is going to pull a reverse and stimulate again?? Isnt that the "good" in "bad is good" news??

Thu, 01/30/2014 - 10:25 | 4383873 Boondocker
Boondocker's picture

ammo supplies and prices are down...btfd!

Thu, 01/30/2014 - 10:25 | 4383876 FieldingMellish
FieldingMellish's picture

Bearish rising wedge in gold now confirmed. Target $1000. The "old" normal will NEVER return.

Thu, 01/30/2014 - 10:50 | 4383946 Millivanilli
Millivanilli's picture

Yeah, China is buying  gold with their balls to the walls.  Fiat currency gets stronger everyday.   Feel lucky I kicked you in the nuts this morning, punk?



Thu, 01/30/2014 - 10:28 | 4383889 the 300000000th...
the 300000000th percent's picture

Maybe they will drive the price of Gold down to zero and idiots will be throwing it out of their windows.

Thu, 01/30/2014 - 10:29 | 4383894 BullyBearish
BullyBearish's picture

We're on a stairway to HELL, a liquidity-removing degradation of the market that will come in steps as it is easily managed by the owners: they pump it up with short-squeeze-fueled rallies to hand off their bags of shit to the momo crowd while they prep for the next leg down.  The only buyers are weak shorts covering.  If that stops we go back to QE.

Thu, 01/30/2014 - 10:30 | 4383896 glaucon was right
glaucon was right's picture

Guys, you should be happy.


You just put your money into one of the indices and watch it go up every day.


It is a dream come true! I do not even have to think about it. And you buy gold and silver with the profit. And when the shit hits the fan, you laugh like a madman and enjoy the decline.

Thu, 01/30/2014 - 10:35 | 4383917 The_Ungrateful_Yid
The_Ungrateful_Yid's picture


Thu, 01/30/2014 - 10:31 | 4383897 Azannoth
Azannoth's picture

Almost a Month and I am still waiting for my (Prepaid) phys delivery, .. you'd think at those prices you'd have no problem getting it in mail over a weekend.

Thu, 01/30/2014 - 10:32 | 4383901 e_u_r_o
e_u_r_o's picture

finally some action at least in the metals. Buying silver soon

Thu, 01/30/2014 - 10:31 | 4383902 the 300000000th...
the 300000000th percent's picture

They will keep tapering, they have no choice to save face for one. AND because nobody remebers what anybody did yesterday anymore, they will try and distance themselves from the coming crash, so they can blame something else for its demise. THEY ARE RUNNING FROM THE BOMB THATS ABOUT TO IMPLODE

Thu, 01/30/2014 - 11:11 | 4384029 fijisailor
fijisailor's picture

They'll reduce official QE to zero and then continue doing it and lie.

Thu, 01/30/2014 - 10:33 | 4383907 TheGoldMyth
TheGoldMyth's picture

FOr thE fiRst tiMe in hiStoRy, tHe 1% OwN 99% oF THe gOld.
""I don't always sell gold, but when I do, I do it all at once in massive size"
Until proven wrong, what htis tells me again is the top 1% have defaulted into becoming the buyers of last resort (Physical or otherwise.) and without this gold buyer of last resort, the value of this medium of exchange  would have collapsed to around 10 dollars an ounce.

Thu, 01/30/2014 - 11:03 | 4384011 FieldingMellish
FieldingMellish's picture

While I'll agree with the sentiment, albeit with a slightly less bearish view, I must point out that gold and silver are stores of value and not mediums of exchange. Dollars and bitcoin are mediums of exchange.

Thu, 01/30/2014 - 12:01 | 4384049 TheGoldMyth
TheGoldMyth's picture

ThE vAlue oF whIch yOu sPEak is graded by the proXimity and AvAilAbility of items for the potential swap/exchange to occur.

If the 99% do not own anything oTheR than debt, or cannot find something of value to make the exchange, then the gold may as well be Lead. Lead can stop gamma rays, so all is not lost.

On other normal planets with clean water, resources, a decent ecosystem with fresh healthy animals, this oft used lofty/eloquent theory might stand correct.

For example, planet AAA with healthy people, diverse species, clean water, incredible range of ultra high quality goods and services obtains vastly more vAluE for an ounce of gold than the same ounce of gold that is on a planet XXX with amazingly degraded ecosystem, war torn peoples, poor goods and services, impoversihed 99% debt ridden people that do not own or allowed to own/nuture anything to exchange for the gold ounce.

In this at leasT, the small group of beings on that poor planet responsible for the vast fiat anthropogenic debt emissions/debt printing have perfected the alchemy necessary for the process of turning gold into lead. And a planet AAA to XXX rating.

Thu, 01/30/2014 - 12:34 | 4384306 FieldingMellish
FieldingMellish's picture

PeopLe wOUld Pay mOrE aTTentioN to You If yOu Didn'T tYpe LiKe wIllIamBanzAi77

Thu, 01/30/2014 - 13:26 | 4384446 TheGoldMyth
TheGoldMyth's picture

LoL.. i aM actuaLLy in disguisE :-)

Thu, 01/30/2014 - 10:37 | 4383920 R-502
R-502's picture

Gold and silver are going on's like a K-mart blue light sale.

Thu, 01/30/2014 - 10:38 | 4383927 Obama_4_Dictator
Obama_4_Dictator's picture

They are getting desperate

Thu, 01/30/2014 - 10:45 | 4383942 ziggy59
ziggy59's picture

Isnt it PM expiration week this week?

Thu, 01/30/2014 - 11:05 | 4384018 MFLTucson
MFLTucson's picture

The country of fraud and deception at the hands of the Jewish banking Cartel.  

Thu, 01/30/2014 - 11:15 | 4384051 Took Red Pill
Took Red Pill's picture

Can someone explain this to me like I'm a 9 year old? I don't understand.


The negative correlation between stocks and Gold is on display in early morning trading. Economic data regarding U.S. jobless claims and fourth quarter economic growth was the catalyst for stocks reversing course into positive territory and Gold adding to losses. Jobless claims increased to 348,000, much higher than the anticipated 330,000. Fourth quarter GDP missed the mark as well, showing a figure of 3.2 percent growth instead of the expected 3.3 percent.
Gold appears to have an uphill battle ahead. The Fed announced Wednesday that the highly-accommodative quantitative easing program will be tapered by a further $10 billion per month. “There is no surprise in the fact that tapering has continued. And barring any major change in the U.S. macroeconomic situation, we are still of the view that by the end of the year we are likely to see tapering completely wound up or getting close to that, which is going to weigh on Gold in the next few months,” Mitsubishi analyst Jonathan Butler said.

The numbers are worse than expected, tapering will continue and the stock market goes up. Why?

Thu, 01/30/2014 - 11:23 | 4384085 NoWayJose
NoWayJose's picture

The explanation is easy - "No one that has fought an 'agent' has ever beaten them".  The Matrix of gold suppression remains in charge, and they are forcing gold lower - for now.

I am shocked that no one questions these 'tapering is bad for gold prices' pundits - Gold was $500 higher when QE3 began!  So if MOAR QE is supposed to be 'good' for gold, why did gold drop in price since QE3 was started?

The moral of the story is that humanity is waiting for 'The One' to liberate gold from the machines.  In this case, 'The One' is physical.  Stack it while you can get it.

Thu, 01/30/2014 - 11:31 | 4384109 Took Red Pill
Took Red Pill's picture

Love the Matrix analogies!

Thu, 01/30/2014 - 11:25 | 4384092 fijisailor
fijisailor's picture

Tapering is a lie.  Would that be so surprising given the continuous chain of lies we are fed by the MSM and .gov daily?

Thu, 01/30/2014 - 12:21 | 4384228 buzzsaw99
buzzsaw99's picture

You're here because you know something. What you know, you can't explain. But you feel it. You've felt it your entire life. That there's something wrong with the world. You don't know what it is, but it's there. Like a splinter in your mind - driving you mad. It is this feeling that has brought you to zh. [/morpheus]

Thu, 01/30/2014 - 12:50 | 4384349 Legolas
Legolas's picture

Hello, Hello,  Anybody home?  Think McFly ! 


You took the red pill !



Thu, 01/30/2014 - 13:00 | 4384373 bluskyes
bluskyes's picture

The media is only good at reporting "that" something is.

The media is not good at drawing accurate conclusions, or expressing correlation between events, or expressing the difference between causation, and corelation.

There is always an agenda 

Thu, 01/30/2014 - 11:33 | 4384121 Rising Sun
Rising Sun's picture

my fucking office smells and I can't open the window

Thu, 01/30/2014 - 12:04 | 4384203 Obama_4_Dictator
Obama_4_Dictator's picture

I think the FED once again pulled off the impossible - hard to image what they can accomplish while we all scream and become insolvent.

Thu, 01/30/2014 - 12:32 | 4384294 Conax
Conax's picture

It's possible to pull off the impossible when nobody can peek into your books or your vaults, and there are no regulators to put on the brakes.

They're low on phyzz, they have to be.

Thu, 01/30/2014 - 12:29 | 4384287 drinkin koolaid
drinkin koolaid's picture

Just shorted FB @ 62.4, as this is another buying climax along with numerous other stocks. SBUX, EBAY, etc. etc.

Thu, 01/30/2014 - 12:35 | 4384310 knowshitsurelock
knowshitsurelock's picture

This insanity can go on a lot longer than most would imagine, and overshoot way, way overbought before it finally turns.  Remember, the big boys have to distribute to the new suckers before they can turn it, and this takes time, unlike gold where when you want to sell it, you just dump all of it on the market at once in order to collapse the price and get the worst possible fills as you can...


Thu, 01/30/2014 - 12:48 | 4384340 drinkin koolaid
drinkin koolaid's picture

Agreed, so you wait until the stock or market is technically ready to be shorted, and take partial profits ( if you have them ) at times.

Thu, 01/30/2014 - 12:51 | 4384353 The worst trader
The worst trader's picture

HAve gold miners, VXX and VRNG, all getting hammered.

Thu, 01/30/2014 - 13:21 | 4384425 fijisailor
fijisailor's picture

What did the FED call it when they pumped billions/trillions in to rescue EU banks?  QEU or are we not supposed to know about that?

Thu, 01/30/2014 - 16:00 | 4385115 bobbydelgreco
bobbydelgreco's picture

bad news is still good news ms piggy will detaper cheer up zhers it won't last

Thu, 01/30/2014 - 16:11 | 4385159 dragoneyes74
dragoneyes74's picture

You know what's fun?  Running into a room and warning everyone to be careful about getting faked-out in gold and THEN proceeding to get faked-out.  Like five minutes later.  Good times.  Did I mention I went long in baseball card terms?  So this was actually a good call.  

What bothers me isn't the 1/2 percent I'm about to lose if we pierce today's low, what bothers me is the metals could be in big trouble again.  A miracle could still happen, but I believe the industry term for today's price action is: not good.  It desperately needs a series of higher lows back toward that downtrend line, but my confidence in that happening is a bit wounded at the moment. Where the bulls at?  Anybody?  Bueller?  SOS? 

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