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Gold & Silver Surge As Bond-Buying Bonanza Stalls Stocks
What goes up, must come down and while stocks have yet to factor in the Fed's anti-gravity gun will end one day, bond yields roundtripped in the most dramatic way in 2 years this week. Quite a ride...
A reminder (after 5 macro misses today)...
And (h/t @ImpartialExamin) from "Money, Bank Credit, and Economic Cycles"...
OK - with that off our chest. It was quite a week in general as consensus trades swinging around...
- Silver 3rd best week in 15 months
- Gold 2nd best week in 15 months
- USDollar worst 5-week run since Oct 2010
- WTI Crude was rescued last minute to its 9th up week in a row - first time since 1999
- Bund yields up 4th week in a row (first time since June 2012)
- 30Y Treasury yields dropped the most since Jan 6th in the last 2 days (2nd most in over 2 years)
- Trannies in 2015 -5.9% worst start since 2009 (Down 11 of last 20 weeks, 5 of last 8)
Volume was awful the last two days...
After collapsing through Wednesday, bonds tore lower in yield today - all the way back to unchanged on the week...the biggest drop in yields in over 4 months.
The plunge in bond yields appears to be catch up trade from the anti-correlation yesterday... very odd
Stocks held on to yesterday's volumeless gains but rolled over after OPEX struck early...
Futures markets show the swings a little more effectively... from Friday's payrolls print...
On the day, Trannies outperformed (after being the week's loser into that)...
Shale stocks continue their slide - though bounced today...
The momo names remain battered, squeezed, and bruised...
The dollar tumbled on the week with today's wild swings - selling EUR in Europe's session then dumping USDs as US macro data disappointed... Bad data sparked USD selling...
Commodities were all higher on the week led by Silver's surge...
But crude was rescued off $59.50 support into the green for the 9th week in a row...
This was odd though...
Charts: Bloomberg
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Check out that last minute DOW ramp....
a complete fucking farce...
"oh, we cant let Silver blow thru $17.50...uh, uh - NOW FUCKING WAY...."
DEATH TO THE MONEYCHANGERS......
What stalls? The Fed is getting what it wants. Bubble action and all time highs in stocks and falling interest rates. Janet won't be happy until S&P 4000. They are already laying the groundwork for a December 25bp raise at the earliest ever since Buffett told them not to raise rates this year because of the dollar.
it least this one is going to be a run of the mill, 1970s stagflationary-style recession, and not an end of capitalism financial crisis recession like the last one.
(what janet and friends are telling themselves right now)
no rate hikes, more QE in 2015. stop kidding yourselves.
keep stackin'
Monkeyous. Hammerous. Mondayous.
When will gold/silver finally make a real run?
President Perry here we come....
Only $700 more to go (or a quadrillion "ZH surges") to reach its all time high.
NFLX no longer considered a momo stock because it doesn't fit the story?
the Chinese are morphing into fast-food-eating, bad-movie-watching couch potatoes at a blinding speed, buy YUM and Netflix as much as you can!
Yes, also PM & MO; then for longer term (if they get a presence in China) DVA & NVO
most adjectives since lehman
bought silver today
had too much fiat
in the coffee can ...
I pulled the trigger on silver about 2 weeks ago when I heard something on here about JPMorgue "cornering the market in silver". If it wasn't for that leaky canoe, I'd be up 7% already...
edit:
OK, it was on another site: http://www.goldcore.com/us/gold-blog/jp-morgan-cornering-silver-bullion-market/
My dumb ass decided to see if silver would fall lower than $16.30. The stack has not been added to grrrr...
No manipulation here folks, move along..
A more suitable alliteration would be gold gushes.
Technically, nothing has changed. As per the Dow Theory (which may be applied to paper gold and silver) the primary trend is bullish and the secondary trend is bearish (secondary reaction against the primary bull market), as explained here:
http://www.dowtheoryinvestment.com/2015/05/dow-theory-update-for-may-13-is-usd.html
and more in detail here (the technical condition by the end of March 2015 has not changed:
http://www.dowtheoryinvestment.com/2015/03/dow-theory-update-for-march-24-gold.html
Good news for (paper) gold bulls is that the primary trend is bullish. However, until the last recorded primary bull market highs are bettered, the secondary trend will remain bearish.
spare us
Wake me when gold flys by $2000, THEN we're talking surge. In the meantime, didn't that fellows leftovers look like it had a gold tint?
THis is what I'm referring to when I say "surge" and I think I'm on the same page as David Stockton, who recently said:
"World Will Panic Into Gold And The Price Will Go Parabolic"
"Well, when a monetary system finally fails, there will be a flight to the only money that’s left in the system and that will be gold. That will be the hour in which the next great surge in the gold price occurs. You can’t predict the exact moment, but you can certainly have a pretty confident view of the direction (parabolic)."
I hope some of you candy ass ZHer's go see Mad Max because after this bull finally keels over that's the kind of world we'll be left with.
Mad Max? i'm thinking more like "the Running Man" myself.. (we're almost there right now!)
New Mad Max coming out. Looks boss. I figure I'll pick up at least one or two pro tips...
Dear Brainwashed Goyim - We get you buy 'gold' since middle April. Now we take it down under 1130 starting next week. Look for scheduled Sunday article make you think it go up more. Pop Sunday night, Monday morning. Go DOWN rest of week. Jewdom control of 'markets' plays you for fools you are. You beleive everything we say. We control gold price with futures market. Ultimately make you 'throw it in streets' when you finally figure it out. Not yet. But sometime in future. Stupid goyim sell gold to cover 'stock market investments'. LOL! OY VEY!!!!
SHUT THE FUCK UP. NOBODY ON HERE CAN OPEN SELL, RIGHT? FUCK YOU AND YOUR ANTI-SEMITIC BULLSHIT. Just because you trade penny stocks in your $53 E*Trade account doesn't mean we give a fuck what you think.
If I had one red cent for every dumb ass I ran across here, I'd be a fucking billionare. AND YES I AM SKILLED AT MATH.
I had another great week taking some of you jackasses to the cleaners and I expect the same next week - xo.
OY! You call the Rabbi ANTI-SEMITE? You are a RACIST, yes? LOL. Skilled at math you say? Hahaha. Must be Common Core math you refer to. Jewdom always take all you stupid goyim to cleaners. We control it all. Your bravado is typical of well trained goyim. You make good host for parasite. You make us smile.
Everyone who trades gold is long only - HAHA
You are proof we fill stupid goyim with cognitive dissonance. 'Trade' implies a buyer and a seller. How everyone be 'long' when half are sellers? Hahahaha! Gold on way to 1130. Then we buy back from you. We make gold go back up and sell back to you. That's what 'markets' are - a parasite's heaven under our control. Oy Vey!!