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FOMC Reaction: Bonds & Bullion Bid... Dollar Dumped
Update: Stocks reverting...
The kneejerk reactions so far are Dollar down hard and bullion, bonds, and stocks bid... let's see if Yellen can keep that going...
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...well that looks to be short lived...
It's hammer time!
My, my, my fed statement hits me so hard
Makes me say "Oh my Lord"
Thank you for blessing me
With a mind to print and two hype feet...
And it's good, when they think you're a man
Ask me difficult questions and you're gonna get banned
And I'm known not to rush
I might raise rates, or I might not touch (them)
Look at my balance sheet, man...You can't shrink this!
My, my, my fed statement hits me so hard
Makes me say "Oh my Lord"
Thank you for blessing me
With a mind to print and two hype feet...
wow, every time yields crash there is an immediate knife catcher (short maniac) who seemingly has endless pockets and does not allow yields to go where market wants to take it. it's almost as if this "entity" has unlimited access to funds and cares not about losing principal. who could that be. obviously this never happens to stocks, which seemingly is worshiped and protected by this "entity".
Shhhhhhhhh...bitchez. Mr. Yellen won't notice what is happening with gold and silver if we don't talk about it.
I've seen predictions of silver at $7.00, and again at $10.00. I dunno....if I can get a Monster at $15.00/per all in, I'm pulling the trigger.
Last time it hit Fourteen and change, Apmex didn't change it's prices....I was scrambling for the credit card, but to no avail....
Nobody Iocal will take less than 20 bucks for a eagle
I'll sell you all you want for $19.
Let me know how you want to close the deal.
Shit, I'll sell you all you want at $18.
Bullion bid? Hmm when I saw that headline, I said to myself, what would constitute a "bullion bid" remark? I said gold at least 1190 or better yet at 1200. When I looked at APMEX (BTW you should see this one guy's problems with APMEX reneging on its insurance policy on You Tube), it was only 1889. on the zeroed in chart it looks like a huge spike but really is nothing.
Come on Tyler, don't become like the weather channel trying to hype up a hurricaine with the reporter standing out in front of the camera with his finger sticking out trying to figure out which way the wind is blowing, or making remarks like "See? that twig just blew by! The storm winds are increasing".
My take would have been gold "nudged" to the upside.
price doesn't really mater at this point
physical possession is more important...
if silver goes to 10$, it will be a gift
to cost average some 20 $ silver
bought last year..
Price always matters, because it influences sentiment, and it builds equity for long side paper traders that will add to positions.
While possession is important, I think that the concerns about counterparty risk in PM futures are overblown.
Eventually physical will dominate paper pricing again, but that doesn't necessarily mean that your long contracts will not be honored. There is silver out there to mine, but the key is to run the price up good before the mining cycle reacts again, like it did when we peaked a few years ago. I don't know if you noticed it, but a lot of commercial shorts got liquidated over the last three weeks. That suggests to me that we might be in for a good old fashioned bull market in silver, with the quants jumping in for a change.
Keep your fingers crossed.
...toilet paper dumped. Sounds natural to me.