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Initial Momentum Meltdown Turns Into Buying Panic; Gold Slammed
The almost ubiquitous overnight levitation (thanks to JPY - bouncing off 102.00 overnight; and more Pharma M&A exuberance) gave way very quickly to more of the same from Friday as the high-growth, high-hope, high-hype, high-beta stocks get slammed. The dump of US equity indices at the open was then met with a "well, it's Tuesday tomorrow... oh and FOMC" mad panic buying scramble... Then the 'great' news that pendong home sales dropped YoY for the 6th month in a row confirmed the momo spike and sent bond yields spiking and gold prices tumbling because one data point MoM is all that we need to spark the algos into action... If you want to know why this idiocy is happening - look no further than USDJPY...
Momo meltdown to buying panic...
As the overnight levitation stalls and tumbles... then rips higher on JPY
And this precious metals are monkey-hammered lower...
And bond yields exploded higher...
Charts: Bloomberg
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The market is a fucked up mess.
and it will continue to be a fukd up mess, until it finally crashes hard...
$/JPY should be 2000 by now based on the amount of times it has "saved" the market!!
http://davidstockmanscontracorner.com/memo-to-yellen-dont-look-now-but-t...
Today's the kinda day were you can lose some serious money...wow
"slammed down"
only 10$ ??? ... thats all ... LOL
easy tiger
The headlines here have gotten totally ridiculous at times.
Ahhhaaah...sometimes the slips are too freudian...
PENDong home sales...
At every level...split or otherwise, via NYC:
Ding Dong!
Who is it?
Dong...
Dong who?
Dong you Wong to sell your house?
ori
Deep Astrology
Gold is going to keep getting beat down through the summer. The question is whether to buy now or wait and risk not getting any.
Indeed. We're getting closer to the point where "Dry Powder" is worthless.
Why would expect the price of gold to go up? It's not like there's any geo-political tensions at present... or excess debt... or 20:1 COMEX paper gold:physical sales... or a hyperleveraged fiat monetary system... or...
ARIUS
that's what I thought
Gold at $666 would be a "Gold Slammed"
Pandora - because negative P/E ratios are all the rage now
Profits ? We dont need no stink'n profits.
gee it wouldnt be the end of the month with a fed meeting coming up or anything would it / s
And yet the fucked up part is still completely under control...
It's not a public market if only a handful of people are buying or selling items for trade, is it?
The best indication of that is the secret bailouts happening of pension funds everywhere right now. Easier to print money for the banks without a public QE project in a round robin method. We all understand that 401k's and RRSP's are legal methods of off book accounting, always have been. The public that owns them, by the terms and definitions of all managed pensions, they don't have to illustrate HOW they are funded.
Just that they reach a target quarterly and yearly. What's happening today is there are considerable efforts being done in secret to print the entire world's economy many times over via the backdoor method of shovelling funds in the dark pool of investments held by the pension system.
A couple of questions to ask from this Shadow QE occurring daily now:
- Go to the grocery store, is anything getting cheaper? Are the sales...'sales'.
- Anyone expect gas to drop between now and September?
- Are rental prices decreasing?
- Do clothes get made better for less money?
- Is a 50 pound box of nails cheaper even though manufacturing processes have improved significantly with newer 3d printing methods that side step the idea of having a local foundry to produce them?
The only question that no one should bother asking is how much are they printing. Because it doesn't matter anymore. The math in self sustaining, it's own inflationary ecosphere that will drag even the wealthiest and most powerful into the gutter with everyone else. So get ready for it. The math in the situation has dropped the blocks and it's coming like brake-less freight train now.
Your post could drive me to drink.
But I already was drinking....
Getting a head start to the week, might want to pick up a couple more bottles in that case.
The market is a fucked up mess.
*facepalm*
Gold slammed. Down $6. The world has ended.
$6 is nothing, true.
The real problem is that these guys, who neither own nor want any real gold, are allowed, by government, to determine the PRICE.
"Cecil, we can't lose China now while we have the Russians hopping mad. Crush the Gold price, keep them Happy!"
"Yes, Sir Cedric."
"Money is gold, and nothing else." - J.P. Morgan before Congress, 1912 (three months before he died)
You can bet that they personally own lots of gold. Its paper 'price' now has nothing to do with its true value. Now I see the PMs as insurance. Anything beyond that is a bonus.
Operating assumption by the buyers and the sellers is that the market can fill all buy orders if physical gold is demanded. Eventually that will be a problem, but probably not in the near term - GLD still has 800 tons to pillage.
I wonder how long that 800 tonnes would last if Putin started demanding bullion for gas & oil?
Now down $7. Catastrophe. Apocalyse.
"Lucy you got some 'splaining to do....."
http://www.zerohedge.com/article/us-government-buying-stocks
looks like selling may have resumed...
There will be a collapse, and it will be epic.
The poor penioners will lose the most.
Demand a metal fund in your 401k package.
It's not real gold, but it may be as close as some get to the real thing.
A METAL FUND ?????? Are you SERIOUS ????
When the physical gold has all gone EAST, what good will a mutual fund be? Like the Federal Reserve Note (FRN), it is just a piece of paper with ink on it. And you will be paid off in FRNs - NOT the actual physical gold.
If you do NOT have possession of your physical gold, then you own NO gold at all.
Damn, what a slam!
All my miners down, my Oil up.
Must.Get.Physical.PM.NOW.
seeing that i've dipped a toe into PHYS and PSLV, wouldn't be surprised to see them plunge below their dec lows. ah fuckitol.
Remember the original Planet of the Apes movie with Charlton Heston?
Remember the scene where he is in the cage and yelling:
IT'S A MAD HOUSE!!!!
A MAD HOUSE!!!!
http://www.youtube.com/watch?v=idsxgLjGXGI
Hahaha! THANKS for posting!
@Eyeroller and @Bay of Pigs - I like in one of the original Planet of the Apes movies (I don't know which one it was) where one of the gorilla soldiers (maybe he was a general ?) is faced with the reality that humans are intelligent and ruled before apes. The gorilla says - "Everything I have been told is a lie."
I haven't had any luck finding what movie the scene was in or a YouTube of it. It would be perfect for passing on to police, military, and other 'enforcers' of the system.
That was on Beneath the Planet of the Apes when they found the subway poster promoting the gorillas in the zoo.
That was also the 2001 Planet of the Apes movie with the gorilla commander played by Michael Clarke Duncan. I have tried to find the link on youtube, but can't get the specific scene. He's got that great deep voice saying "Everything I have been told is a lie."
NICE ONE!
Correct it was used there too. I like how they incorporated some of the better lines from the older movies into the new series.
@EyeRoller and @Dr Engali - - - thanks guys ! That was a great line. If I find it, I'll be sure to post it up for everyone.
If I was good with video, I would have a clip with the gorilla soldier saying it followed by various scenes with movie 'enforcers' - - - soldiers, police, secret agents, etc saying it
James Bond played by Sean Connery: "Everything I have been told is a lie"
It's so fucking easy to mint currency in this market that Cramer can almost do it. Gartman.... not even close.
Change your chart scales.
Using yearly periods tracking back to the 1970s helps.
Perspective is everything.
You mean every day is not a "meltdown", a "panic", or a "disaster"? That's no fun.
The velocity of money and the fear of bankers to loan == The coming great Obamanomics recession.
http://www.bloomberg.com/news/2014-04-27/treasuries-irresistible-to-amer...
To keep track of oil and gold prices, goldprice.com
I'm so confused now. None of this shit makes any sense.
It's not meant to make sense. It's just meant to make dollars for someone else.
slammed, ... exploded ... try the decaf.
total fucking bullshit...
please, give me the justification for a Fraud Market blast off and real money sell offs????
glad i didnt buy last week and waited for this week to unfold..
bet ur asses i WILL be adding to my mother fucking stack some time this week....
DEATH TO THE MONEYCHANGERS...
ps:cashed a 50k cashiers check which was originally on deposit at Bank of America on saturday...made those mother fuckers order the cash while those funds sat at home with me...if u mother fuckers think im playing when i say im at war with these sociopath bankers and their debt based currency paradigm u r trippin....
no punks over here man.....
OT anyone see this Fantex.com bullshit where they are IPOing shares of some tight end for the Niners Vernon Davis? Looks like $10/share for this bullshit. Something about the SEC has time to approve this shit and midget porn but cant seem to do anything else. Please tell me this is the bell tolling at the top.
http://blog.erikphansen.com/images/wp-images/2011/07/crazypills.jpg
Russelll just went negative there briefly, most of the shitters bright red
Gold is chaper today adjusted for inflation than it was in 1934 when it was revalued to $35 per ounce.
http://sgtreport.com/2014/04/silver-update-metal-safety/
Is this all you have to do to get your stock market up 85% in 9 months?
Egyptian court passes death sentence on Brotherhood leader, 682 supportersWe've been in a long trading range in stocks and bonds.
Each wiggle up or down in the range is not a "plunge" or a "spike" or a "slam" or a "panic". It's actually to be expected.
And if you know anything about markets and trading, lots of money can be made.
Act like you've seen this before. Amateurs.
Silver is the world's most undervalued asset.
http://www.silverseek.com/commentary/worlds-most-undervalued-asset-13135
Can we agree to not refer to gold or silver as "down" or "pummeled," but as "on sale" or "really on sale?!"