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US Equity Market Open Sparks USDollar Surge; Oil, Gold, & Silver Purge
The moment the US equity market opened, the USDollar surged (driven by JPY and EUR weakness) and oil, gold, and silver mirrored the surge, tumbling from the open. Interestingly, while WTI is remaining near the lows of the day, gold and silver are bouncing back despite continued USD strength.
Stocks are open.. buy USDs and sell JPY and EUR!!
And commodities react...
and from Friday's close, WTI is back to unch...
Charts: Bloomberg
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Wars are expensive. Real wars (not financial, bullshit paper wars), require a lot of energy.
In any case, I am enjoying the cheap diesel prices...
Shrewd "folks" will build up their own, private Strategic Reserves at these prices, I'd imagine. :-)
Japan's printing continues until a currency crisis.
So BTFD?
The USD is doing what gold did in Sept 2011.
Lots of dollar bulls doing victory laps
I've stopped my PMs purchases until they reach zero, then I'm going to back up the truck.
Boat anchor: FREE! You haul.
I thought that was the strategy for buying gold mining stocks. Didn't realize it applied to the metal itself, too.
And yet some famous gold bugs/dealers (Eric Sprott, etc) claim to be selling bullion, so they can buy the PM Mines.
Allegedly because they expect the mining stock to bounce back faster and higher than the PM. But I'm not buying their story, nor mining stock, because I've learned not to go for Head-fakes from quasi-billionaires like Sprott.
p.s. You should remain disciplined and principled when it comes to PM:
1. Buy what you need to diversify & hedge your Assets, i.e. keep 10-20% in bullion, After 20%, buy OTHER Wealth-Preserving or Appreciating Real Assets to diversify & hedge. E.g., a MIX of Precious Art, Strategic Real Estate (offshore?), G&A, Eliminate Debt...
2. Do NOT buy any PM if it hurts your monthly budget and cashflow, i.e. don't take food off the table to buy PM.
Violating #1 would be unwise, violating #2 would be full retard.
I bought an ounce of gold and forty of silver Friday.
Price of both should drop accordingly.
thanks for the head's up. Still waiting for sub $1,000 on gold and sub $12 on silver. I think we may get there. That's the last time I bought physical.
all due respect...but doubt that very seriously...
but hey, i guess anything is possible given the sociopaths we face...
yeah..i coped some more Silver last night after the UBS market manipulating story broker here at the Z...
figured it would result in a spike...
WRONG!
no worries - dollar cost averaging is the name of my game.
Why be so greedy? If it went that low, people would be saying "I'm going to wait til it's below $800 and $10." Eventually the waiting game comes to an end. If it corrects to $1300 and $20, then what are you going to do? If it overcorrects to $1500 and $25, I'll bet you will be panic buying.
Given the price mantras of Fall 2012 () in light of massive QE, I would not call 1300 a "correction", nor 1500 an "overcorrection".
A Correction would be 1800, and 5,000 might be an "Overcorrection". Even though the true value is MUCH higher, if all the fiat is assigned to Existing Gold.
Palestinians break through West Bank barrier to mark Berlin Wall anniversary
How is it even possible that the VIX would be at 12.8??
I'm looking forward to the moment when it spikes to 200 in a day or two... watching CNBC will be fun.
Yeah, the only anomaly here is WTI. A strong dollar will buy more commodities. Dollar demand from weak yen carry drives up USD (and with it CNY, "curses on that peg!" shouts the director of PBOC as declining export revenues fuck with Chinese bank liquidity.)
Of course oil is a manipulated market. This is a petrodollar gambit, to crush Russia before the bear can set up any kind of independent market structure. The big question is, "What is the game depth?" How long can Sam's Service under-price Pete's Petrol across the street before Sam goes bankrupt? The days of Rockefeller, who was able to get limitless game depth from the Rothschilds, are over. This is a game of chicken. Who will swerve to safety first?
I know this makes gold investors giddy, but up moves in this paper ponzi mess are even more dangerous than midnight morning take downs.
My advice to the gold community...
Don't buy Miners...They cannot defend their business!!...if you already own them hold and wait things out...they are so smashed its just not worth selling and you may get more from a market rigging class action suit than selling!
Buy physical.. As much as you can...Silver is the best..
But... but... the Alan I see the Light Greenspan said... BUY Gold NOW!
not as a trade.
Buy more gold then silver. How many central bankers talk about silver?
Other than silver, those chart colors are just all wrong. o_0
"We must make everyone feel RICHER so they will go out and SPEND, SPEND, SPEND NOW NOW NOW on Christmas presents" Desperate times require desperate measures. VIX back in the 12s, S&P ATH, free money is yours through Christmas window dressing...that's all they got.
The U.S Dollar is stretched at the moment. It will see a multi-month correction that pull it back into the low-to-mid 80s before resuming its skyward climb.
http://www.globaldeflationnews.com/u-s-dollar-indexelliott-wave-update-f...
Quite the opposite, gold is in a long term decline, but, at the moment, will enjoy the largest bear market rally since December of 2013.
http://www.globaldeflationnews.com/gold-elliott-wave-update-for-october-...
annnnnnnnd...it's gone. Gold down 20 bucks
The stock market and the U.S. Dollar are now the official hoaxes from Obama, the man who brought you Sandy Hoax, the BP oil spill hoax, the Boston Marathon Bombing Hoax, the Swine Flu Hoax, the ISIS Hoax, and the Ebola Hoax.