After One Month Respite, Pink Slips Are Flying Again

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Thu, 12/29/2011 - 09:54 | 2018872 Clam McCain
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Monthly MACD on gold is about to turn negative. Time to dump your gold gents before this gets uglier

 

 

Thu, 12/29/2011 - 09:57 | 2018880 DougM
DougM's picture

bu.. bu.. bu... but hyperinflation?!

Thu, 12/29/2011 - 10:00 | 2018896 ZeroPower
ZeroPower's picture

See this is why people shouldnt invest based on comments here. Dump gold and "invest" in what... silver? Even bigger lol than a GRE 1yr CDS.

Thu, 12/29/2011 - 10:04 | 2018910 Max Fischer
Max Fischer's picture

 

 

So......Soros and Roubini were right?

Max Fischer, Civis Mundi

Thu, 12/29/2011 - 10:35 | 2019005 fuu
fuu's picture

Oh stfu mathman.

In other news:

99 weeks ago today was  02/04/2010
Thu, 12/29/2011 - 10:48 | 2019054 Pegasus Muse
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All this angst about day-to-day price moves gold.  This market insider believes a pullback in the POG is a gift.  He has made some good calls over the last couple of years. 

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/12/20_London_Trader_-_We_are_Witnessing_a_Historic_Bottom_in_Gold.html 

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/12/21_London_Trader_-_There_are_Tremendous_Silver_Shortages.html

Thu, 12/29/2011 - 10:09 | 2018925 GeneMarchbanks
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Good point. Silver is almost as useless as your commentary.

Also, hyper-hypothecation has nothing to do with this... at all.

Thu, 12/29/2011 - 10:20 | 2018967 pine_marten
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There is no safe harbor for wealth.  Cash in the gun safe slowly inflating away.

Thu, 12/29/2011 - 10:09 | 2018899 Spooky Polish
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hyper what ? 

 

lets do not talk about hyperinf(uck)lation , and then it won't happen. 

 

just like some politicians i know ... 

 

excuse my eng. 

Thu, 12/29/2011 - 10:21 | 2018974 pine_marten
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Your english is fine.

Thu, 12/29/2011 - 10:53 | 2019076 Eireann go Brach
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If I ever seen an ex banker pan handling on the street, I would let my 6 year old boy kick him right in the fucking teeth and steal his can of coins!

Thu, 12/29/2011 - 11:56 | 2019259 aerojet
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Maybe for some ex-CEO fuckwad, but many of the people who work in those places are just like you or me.  They're responding to the incentives that were laid out before them, too.  Their families will suffer.  It's just that I have a hard time believing anyone making $450K or more, even in NYC, couldn't set a little aside for a rainy day.  The bonuses were huge.  It was up to them to blow it on a yacht or sports car or other wasteful trappings.  I know, fast women, fast cars, blow, yeah, yeah.  This country needs more Quakers and fewer assholes.

Thu, 12/29/2011 - 16:30 | 2020226 Freddie
Freddie's picture

Look Seamus - if you were a real man you would beat the living hell out of that tax xheat Bono Hewison aka f**ktard.

Thu, 12/29/2011 - 09:58 | 2018884 Dr. Engali
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Funny thing about technicals. They always work until they don't.

Thu, 12/29/2011 - 10:08 | 2018927 Spooky Polish
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+1 :) Funny indeed

Thu, 12/29/2011 - 09:59 | 2018885 firstdivision
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Your MACD indicator is so perfect that I bet you have like trillions of dollars from always being on the right side of the trade.

Thu, 12/29/2011 - 09:59 | 2018893 Tyler Durden
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Paper gold is overdue for a major washout (especially coupled with year end liquidations by shuttering hedge funds) as was expected when we observed the gold rehypothecation horror stories courtesy of MF Global. Hopefully what this does is to force people to leave such abstract gold comps as GLD and actually buy the real thing.

Thu, 12/29/2011 - 10:06 | 2018914 GeneMarchbanks
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Fuckin' Celente...

'Twas bound to happen sooner or later.

Thu, 12/29/2011 - 10:13 | 2018941 SheepDog-One
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Celente doesnt know so much. After all, he did get ass raped in MF GLobal.

Thu, 12/29/2011 - 11:00 | 2019099 Killtruck
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By not counting on it happening? Even though it has never ever ever ever happened before in the history of the commodities exchange?

So if I walk out of my house and get creampuffed by an asteroid, you're going to say I was an idiot for leaving my house. Nice to know.

Thu, 12/29/2011 - 11:56 | 2019258 SheepDog-One
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You miss the point entirely, for all of Celentes 'White shoe gangsters on Wall St' talk, he got robbed by the 'White shoe gangsters on Wall St'!

Thu, 12/29/2011 - 12:08 | 2019306 Killtruck
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Yeah, I get it...and he wasn't making moves that I would make myself or recommend to anyone. But when you're still under the impression that you're safe (which everyone thought, but we NOW know you're not), "armchair quarterbacking" him today and saying he doesn't know much is kinda weak. Just because he got robbed doesn't mean he isn't a sharp guy. That's all.  

Thu, 12/29/2011 - 13:19 | 2019565 rosiescenario
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You lie down with dogs, you get fleeced.....

Thu, 12/29/2011 - 10:56 | 2019085 mick_richfield
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In light of MFG, I honestly don't know why the COMEX price of silver and gold are not already at zero, and with zero volume. 

I am not a professional trader, but I would have thought that when people saw in the Fine Print where it says "if it looks like you are going to win, we will rape you, and murder you, and rape you"-- it seems like that would be off-putting.

Thu, 12/29/2011 - 16:38 | 2020259 Freddie
Freddie's picture

Tyler(s) - do you have a list of hedge funds that are closing down?  Paulson?  Whitney Tilson?

Thu, 12/29/2011 - 10:00 | 2018894 scatterbrains
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yes everyone please dump your gold! 

Thu, 12/29/2011 - 10:02 | 2018903 Boston
Boston's picture

And let's not forget platinum. Lowest price since 2009.

But good luck getting your hands on physical. Every big dealer I follow is "out of stock".

Thu, 12/29/2011 - 10:33 | 2019001 uno
uno's picture

check http://www.tulving.com/goldbull.html they have coins & bars available

Thu, 12/29/2011 - 13:06 | 2019513 Boston
Boston's picture

Thanks. I'm looking for 1oz. Eagles and Maples. Everyone is literally sold out, just as the price collapses.

Thu, 12/29/2011 - 10:03 | 2018904 SheepDog-One
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If youre dumping your gold for fiat dollars due to a 'MACD indicator', then you really are a clueless moron and didnt know why you should buy and hold gold for the very long term in the first place.

Thu, 12/29/2011 - 10:09 | 2018928 Dr. Engali
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On this day I am thankful for weak hands, as I will be picking up more.

Thu, 12/29/2011 - 15:37 | 2020057 aerojet
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What if the Euro collapses and the DX flies back to 120?  What then?  This whole Euro trying to become a reserve currency may be ending, so how does that affect your planning?

Thu, 12/29/2011 - 10:17 | 2018954 Clam McCain
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fundamentals also work - till they dont.

Thu, 12/29/2011 - 11:28 | 2019185 Quinvarius
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You can't eat a MACD.

Thu, 12/29/2011 - 09:58 | 2018882 lolmao500
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1 million more in tent cities I suspect?

Thu, 12/29/2011 - 09:59 | 2018886 Desert Irish
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And wait for it 3...2...1  and here's the spin....

"Jobless Claims in U.S. Hit Three-Year Low in Past Month" - Bloomberg

Thu, 12/29/2011 - 10:32 | 2018997 chunga
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"Jobless claims rise, but labor market healing" - Reuters. December 29, 2011 9:30 EST

Thu, 12/29/2011 - 11:05 | 2019117 mick_richfield
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Reuters a year from now -- Dec 21, 2012

"Immense solar flares scour life from much of planet.  Jobless claims fall to 5-year low."

I thought we should start writing these news stories now...

 

 

Thu, 12/29/2011 - 12:07 | 2019300 chunga
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lol...green shoots everywhere.

"Contract signings for US homes up in November" AP - December 29, 2011

Thu, 12/29/2011 - 11:57 | 2019261 SheepDog-One
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'Healing'...LOL. What can you even say? The corpse of the terminal cancer patient is deemed to be HEALING?

Whatever.

Thu, 12/29/2011 - 12:23 | 2019349 chunga
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Is "Abnormalcy Bias" finally setting in?

Fill this thing out and send it in to the Department of Absurdities...

tOO BiG To fAiL LOan MOdIFiCATioN FOrm r.1.A.002.B.XXXX

Thu, 12/29/2011 - 16:30 | 2020229 unnamed enemy
unnamed enemy's picture

i noticed the same headline this morning, i LOLed, but then it made me sad. 

Thu, 12/29/2011 - 11:31 | 2019189 spastic_colon
spastic_colon's picture

and of course the ever popular........

USA TODAY -
By Christopher S. Rugaber, AP WASHINGTON - "The number of people seeking unemployment benefits rose last week after three straight weeks of declines to a level consistent with a modest pick-up in hiring."                                                                                                                                                                                                                                                       huh....wha?....is that latin?
Thu, 12/29/2011 - 13:21 | 2019575 rosiescenario
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....formerly worked as a reporter for Pravda....

Thu, 12/29/2011 - 09:59 | 2018888 Irish66
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Fortune 500's will start announcing layoff's due to uncertainty in Europo

Mosaic's announcement last night started the spin

Thu, 12/29/2011 - 09:59 | 2018889 Dick Darlington
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And this is how they spin it in BBG:

Jobless Claims in U.S. Drop to Three-Year Low in Past Month

 Dec. 29 (Bloomberg) -- Fewer Americans filed applications
for unemployment benefits over the past month than at any time
in the past three years, a sign the U.S. labor market is on the
mend heading into the new year.
     The four-week moving average for claims, a less volatile
measure than the weekly figures, dropped to 375,000 last week,
the lowest level since June 2008, Labor Department figures
showed today in Washington. Applications rose for the first time
in a month in the week ended Dec. 24, climbing by a more-than-
forecast 15,000 to 381,000.
     The jump in claims last week may say more about their
volatility during this time of year than about the state of the
job market, according to economists like Eric Green. Their
recent decline has stoked speculation the world’s largest
economy was on the cusp of showing bigger gains in employment.
     “The labor market is improving,” said Green, chief
market economist at TD Securities Inc. in New York. “You
should expect to see stronger payroll numbers going forward.”
     Stock-index futures held earlier gains after the report.
The contract on the Standard & Poor’s 500 Index maturing in
March climbed 0.3 percent to 1,247.9 at 8:40 a.m. in New York.

Thu, 12/29/2011 - 10:03 | 2018909 Irish66
Irish66's picture

we are all going to Sears and Kmart and help them keep the doors open

Thu, 12/29/2011 - 10:14 | 2018942 Dr. Engali
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I wonder how many more retailers will announce store closings after the end of the year? Better redeem those gift cards fast.

Thu, 12/29/2011 - 09:59 | 2018891 Cdad
Cdad's picture

We for one, can't wait to hear what the media spin will be next month when employers put the pinkslipmobile on turbo boost...

They'll probably say what they said this morning on the BlowHorn [CNBC] regarding this mornings missed claims print:  "Good enough."  M. Cabrarra.

Thu, 12/29/2011 - 10:05 | 2018917 SheepDog-One
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Right, if jobs print at -600K next week, they'll just say its good. Why not? No one will do jack shit about it anyway, sympathy and admiration for their captors in Stockholm Syndrome 'Merica.

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